This is predicated upon the question, why are we into this business? Management personnel have a tough job; they are the people that have to organize their duties plus employee duties for the day. The Marine Corps is a large organization that uses these traditional methods of management to conduct business at every section level. Marine Corps, was introduced into a way of leading man into combat scenarios. Give responsibilities and powers to execute it. According to Bateman-Snell, planning is the management function of systematically making decisions about the goals and activities that an individual, a group, a work unit, or the overall organization will pursue in the future. Any business, firm or agency that brings in profit needs financial managers.
All these functions of the business can be broadly classified under the following main headings: production Function: Production function involves creation of goods and services with the help of money, men and materials. Finance entails having the funds to expand markets, pay off debts and managing internal affairs of a company or even a country. The four basic functions of management are just to have a controlled plan over the preventive measure. Discuss the sources from which a large industrial enterprise can raise capital for financing modernisation and expansion. No business function can be carried out efficiently unless there is a sound personnel policy backed up by efficient management of personnel. Managers handle unexpected situations every day by knowing how to use the four management functions, planning, organizing, leading, and control, they will be better informed to handle each situation.
Depending on the nature of its business, it may have a design department, a marketing department, a human resources department, a finance department and so on. It is more important because it provides continuous inflow of cash to meet the outflow thereof. Information can be transmitted through business letter to customers, suppliers, debtors, government authorities, financial institutions, bank and insurance companies and to any ot … her parties related with the business. The maturity period of a commercial paper usually ranges from a 20 to 40 days b 60 to 90 days c 120 to 365 days d 90 to 364 days Answer d Commercial paper is an unsecured promissory note issued by a firm to raise funds for a short period, varying from 90 days to 364 days after which it has to be redeemed. Outsourcing is one of the business strategies in getting the items such as service or goods from foreign suppliers or outsider to replace the internal resources.
Debentures represent a fixed capital of the company b permanent capital of the company c fluctuating capital of the company d loan capital of the company Answer d The debenture issued by a company is an acknowledgment that the company has borrowed a certain amount of money, which it promises to repay at a future date. If his ethical standards go beyond legal concerns than it would include approval by some balance of what was fair or unfair. It is also common for these employees to work longer weeks than traditional positions. In many organizations, these experts develop training programs for new employees to help them get acquainted with the company's culture and values. They must be able to come up with new ideas and develop the way to achieve them before going to their superiors with any proposition. Its end goal is to generate sales and increase brand awareness.
Naturally, a tighter control by the finance manager on the investment in productive assets becomes necessary. Microeconomics deals with the economic decisions of individuals and firms, whereas macroeconomics looks at the economy as a whole in which a particular business unit is operating. Internal sources of capital are those that are a generated through outsiders such as suppliers b generated through loans from commercial banks c generated through issue of shares d generated within the business Answer d Internal sources of capital are those sources that are generated within the business mainly through ploughing back or reinvestment of profits. They are a corporate franchise, they are also the only national hair care chain that is targeting the over 140,000,000 men and boys market. As a former coal mine director, Fayol had discovered four distinct functions of management he stated were applicable in any industry.
Research and Development: In the world of innovations and competitiveness, expenditure on research and development is a productive investment and R and D itself is an aid to survival and growth of the firm. Essay rubrics 2014-2015 as of 2014-2015 the course is broken into nine historical time periods skills one can access the college board ap us history framework or read the concise introduction found in the amsco review book. The task of the finance manager is to arrange the availability of cash when the bills for purchase become due. . This is what is known as core competency. Finance is part of business and industry. Formulation of Policies : Statistics helps in formulating plans and policies in different fields.
These functions include marketing, operations, finance and human resource functions. To evaluate and monitor the feasibil … ity of a venture; and most often. The aim of the coursework was to help us understand how a business is run and how it functions. Letters can be preserved for future reference. State the merits and demerits of public deposits and retained earnings as methods of business finance. They are planning, organizing, leading, and controlling.
Creation of demand: Business letters especially circular letters used to create demand for new products. It is a very wide term. These four management skill are used when ever a project or a task is at hand. These managers never leave their humble abodes to work for someone else's company, but hold just as important and responsible positions within their own company. Since production helps in the creation of utilities, this has been considered as the most significant function of the business. For smooth marketing of the product, the marketing manager decides on the product, its packing and branding, deciding the distribution channel and promoting the future sales.
Hence, the relationship between accounting and finance is intimate and the finance manager has to depend heavily on the accuracy of the accounting data. The volume and period of credit extended depends on factors such as reputation of the purchasing firm, financial position of the seller, volume of purchases, past record of payment and degree of competition In the market. So, there must be a balance between the amount necessary for continuing R and D work and the funds available for such a purpose. The types of loans and services provided by banks vary from country to country. To run the business any firm need different types of information from outside. Consequently, as the level of corporate strategy tom tome used integration method which has the most prominent integration was Horizontal integration and horizontal alliance.