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Function of business
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Functional Areas of a Chosen Business The different functional areas within the business of Sainsbury’s are as follows: * Customer Service * Retail * Marketing * Trading * Finance * Human Resources * Administration * Payroll I shall not write about what each department actually does within Sainsbury’s: Customer Service This is basically the majority of Sainsbury’s workforce. This involves general duties to be carried out on the shop floor such as checkout assistants which are there for customers to pay for their goods, General Assistants are multi skilled between checkouts and stocking shelves for maximum availability of products for customers. Stock control is another type of customer service Sainsbury’s have. This is where levels of stock are checked and the employees working here will order more goods when needed. Basically customer service explains itself really, it is the way in which employees of Sainsbury’s can be of assistance to customers. I have given examples of these types of job roles above. Retail The retail function of Sainsbury’s I basically like a sales department also. This department in Sainsbury’s would therefore be responsible for selling items to customers. Quite often Sainsbury’s would have sales representatives in store to discuss what the customer wants. The sales department would work closely with a few other departments such as marketing so they can find out what customers want so that they can improve their advertising, Finance as they will handle all the money from sales. The sales department would need information such as prices of products so that they can inform customers. They would also need to know if certain stock is available before talking to customers about that product. Marketing This function of the business is responsible for identifying the needs of customers and fulfilling the customer desires profitably. In other businesses sales and marketing may be combined into one department but
The customer support and customer service functions are more than departments; they are part of an essential strategy for growing your business. In the modern business climate, customers expect answers to their questions immediately. When the right information is available anytime, from anywhere in the world, customers are more likely to have a positive experience, thus customer loyalty will be increased. It is a known fact that the cost to obtain a customer is ten times higher than to maintain and keep existing customers. (Gouran, Dennis, W.E. Wiethoff, & J.A. Doelger. (1994). Mastering communication. 2nd ed. Boston: Allyn and Bacon.) Not in Reference Pg.
Spokane Industries has contracted Franklin Electronics for an 18 month product development contract. Franklin Electronics is new to using project management methodologies and has not been exposed to earned value management methodologies. Even though Franklin and Spokane have worked together in the past, they have mainly used fixed-price contracts with little to no stipulations. For this project, Spokane Industries is requiring Franklin Electronics to use formalized project management methodologies, earned value cost schedules, and schedules for reports and meetings. Since Franklin Electronics had no experience with earned value management, the cost accounting group was trained in the methodology in order to bid for the project.
What major technology change has had the greatest impact on the quality of your life?
Those activities can be divided into two categories: primary and secondary activities. Primary activities are inbound logistics, operations, sales and marketing, customer service, and outbound logistics. Inbound logistics include receiving and storing materials or distribution to production, operations transform inputs intro finished products, outbound logistics includes storing, and distributing finished products, sales and marketing deal with promoting and selling the firm’s products. Secondary activates consist of administration, human resources, technology, and procurement. Supply chain management systems coordinate the flow of resources into the firm, and make the primary activities
Leonard Prescott, vice president and general manager of Weaver-Yamazaki Pharmaceutical of Japan, believed that John Higgins, his executive assistant, was losing effectiveness in representing the U.S. parent company because of an extraordinary identification with the Japanese culture.
When an individual decides to venture out on their own and become an entrepreneur they are taking a huge risk, one of the tools that can make the difference between being successful or failing is the Business Model Canvas (BMC). Osterwalder invented the BMC because he believed that a company’s first business plan always failed the minute it reached the customers, leaving the owners discouraged and deflated and feeling that they had wasted time, energy and money; so he wanted to create a more flexible business plan that owners can edit and make the changes needed to reach the customers needs "One Tool Startups Need to Brainstorm, Test and Win | First Round Review," n.d.). The canvas consists of nine elements or building blocks that create a visual template spelling out the business’s value proposition, infrastructure, customers and the finances (White, 2012). Breaking down the key elements that are vital to taking customers needs, wants or problems into a fruitful company
Samuelson, Judy. The Business of Education: Why change-minded MBA candidates turn to the Institute before they pick a business school. The Aspen Idea: 66–67. 2011. Print
The feasibility study of a business’s design comprises of all strengths and weaknesses analyses within a particular business in order to determine whether the design is practicable and potential to benefit that business in a foreseeable future (Trimi, Berbegal-Mirabent 2012). To access this study, the researcher need to have a comprehensive understanding of the business’s resources and their interconnections which are included in the business model Canvas (Stephen, Richard 2014). This model is considered the most effective methodology in the process of supporting innovation and making decisions, thus, to assure the successfulness of a business or a project (Hanshaw 2015). This essay will discuss some central characteristics including customer
The world of business has undergone radical and dramatic changes in the last decade changes that present extraordinary challenges for the contemporary manager. A manager is an organizational member who is responsible for planning, organizing, leading, and controlling the activities of the organization so that the goals can be achieved. According to a widely referenced study by Henry Mintzberg, managers serve three primary roles: interpersonal, informational, and decision-making. Management is process of administrating and coordinating resources effectively and efficiently in an effort to achieve the goals of the organization.
Organizations today all consist of three main functions. These functions include marketing, operations, and financial accountability. Marketing generates the demand through the promotion or sale of a product or service. The operations is the backbone of any organization, which involves the creation of the product, the movement of the product, and final delivery of the product. The financial accountability is ultimately, how the organization is doing financially concerning accounts receivable and accounts payable. Focusing on the operations of the business, one area that is critical is the supply chain. The supply chain is a global network of organizations and activities that supply a firm with goods and
Value is used in a central thought in economic theory (Haksever et al., 2004). The key for the value is an ‘exchange’ between two units such as “benefits and sacrifices” (Möller, 2006), “consumer surplus," value for money or optimize used value, but minimize exchange value (sacrifices in terms of price) (Bowman & Ambrosini, 2010). Normann & Ramirez (1993) use the terms co-produce to define the participation of customers in value co-creation that realized value is not created at supplier level, but between customer interactions. Several authors describe value in terms monetary business value whereas others include non-monetary benefits such as market competitiveness, competencies, and social rewards (Walter, Ritter, & Gemünden, 2001) or could be the combination of both business value. Haksever et al. (2004) describe tangible or intangible value may derive from business activities, policies, and regular action of the firm as the power of the product, service, or activity to fulfill a requirement or deliver a profit to a person or legal entity. Those values may positively influence the “quality of life, knowledge, prestige, safety, physical and financial security, as well as providing nutrition, shelter, transportation, income, etc.” (Haksever et al., 2004, pg. 292). These values are meant for stakeholders of the firms such as its customers, suppliers, owners and other firm’s alliances (Bowman & Ambrosini, 2010). Therefore, the role of firm and customers are different, it is a sequence of activities performed by the firm (Vargo et al., 2008).
A sales manager has many responsibilities such as spreading product to customers, setting sales areas, goals, and analyzing sales data (“Sales Manager” What’s para. 1). Although a sales manager performs many duties, people in this position will also set a sales goal for the year, and will build a sales outlook on what they will do in the upcoming years (“Sales Manager” Sokanu para. 1).A person in this position will also manage where the goods and products their company will be distributing by giving certain sales area where a salesman will work and sell the product (“Sales Manager” Sokanu para. 2). During work time, a sales manager may be asked to hire and train a new salesman added to his team (“Sales Manager” Sokanu para. 3). Occasionally, a sales manager will interpret sales statistics in a specific area when looking where to assign certain salesman to a sales territory (“Sales Manager” Sokanu pa...
Compensation will vary depending on the industry in which you work, as well as the specific responsibilities and required knowledge and experience of your job. Following are some sample salary ranges for biz dev functions in various industries:
In our individual lives, we have all nursed a feeling of having or owning a business because of the conditions we have found ourselves which we do not want for ourselves. Life is not a bed of roses and would not always offer and satisfy our heart desires. So in pursuit of changing our conditions and the unquenchable thirst to be financially independent and free, we resort pursue business opportunity. What is a business opportunity? According to Wikipedia, search engine, “a business opportunity (or bizopp) involves sale or lease of any product, service, equipment, etc. that will enable the purchaser-licensee to begin a business.”