Any well-functioning business has a whole array of individuals performing different sorts of jobs. Below you will come across just a few descriptions of these various jobs.
When we look at all the various departments in a company hierarchy, the board of directors will be found at the top of that hierarchy. The board of directors, like the Telecom Italia board, carries out a really special role that is unique from every other employee in the firm. Usually, the board of directors is made of individuals who have a strong interest in how the firm is run. Members of the board vote and examine important problems that are likely to impact the future of the business, like its long-term targets, any modifications in the plan, and hiring of any members of the upper management for instance.
One of the primary goals of any company is to make a revenue by selling a certain type of service or good. To ensure that consumers keep on buying this service or good a business has to continually keep track of new advancements and innovate the products that they provide. Research and development department, or R&D for short, like the Ikea R&D for example, is the department in a company hierarchy structure that is concerned with innovation and introduction of brand-new products. Companies in all sectors and all industries undergo R&D activities, as it's so important to stay on pace with consumer demand for brand new products. However, if it's a small company, R&D activity is usually outsourced to businesses that specialise in this, but bigger ones will have a dedicated in-house team. R&D is one of the main factors when it comes to the growth of a business, as it presents improvements and new breakthroughs to products and services which allows them earn a greater profit, and as a result lets the business expand in size and stay on very top of its competition.
So many people will classify accounting as one of the less interesting components of a company’s day to day activities; nevertheless, accounting takes one of the most significant places in a company structure. Because accounting is not directly engaged in producing a product, it is typically grouped with the administrative departments in a company. The accounting department, like the UAW accounting department for instance, provide financial assistance to the company it belongs to and deals with a whole number of tasks relating to finances. This departments makes records of accounts payable and receivable, inventory, fixed assets, payroll amongst many other financial elements. Accountants need to review the records of every other department in the company as a way to establish the business's financial position to choose whether any changes to how the firm is run must be made to make it more cost-efficient.