Professional Documents
Culture Documents
It doesn’t mean that a random group of people who come together by chance is an
organization. When a group of people are formally gathered to accomplish some
certain goals is called an organization. The goals cannot be reached individually, so
that organizations are formed. The job of a manager is to achieve high level of
performance relative to organizations’ objectives. For example, any business
organization has some objectives which lead to 1) make profit; 2) provide goods
and services to customers; 3) provide income source for its employees; and 4)
increase the level of satisfaction for every stakeholder.
Organizations are known as social entities, which are deliberately structured and
goals oriented. Organizations cannot operate their functions in isolated
environment, but they linked external dynamic situation.
Types of organization
1. Formal: The part of an organization that has legal and official recognition.
2. Informal: The informal or private part of the organization.
Components of Organization:
1. Task
2. People
3. Structure
4. Technology
1. Operation
2. Finance
3. Marketing.
• Management
• Financial accounting
• Personal
• Selling
• Treatment of customer orders
• Production planning
• Purchase
• Progressing
• Production
• Dispatch
The Finance function consists of the people, technology, processes, and policies that
dictate tasks and decisions related to financial resources of a company. Depending on the
organization and the industry in which it operates, this function may be simple or complex.
Some finance functions are overstaffed that is, they rely on individuals to perform both
advanced and simple tasks while others are highly automated relying on people for decision
making and policy setting exclusively. Regardless of the ratio of people to technology, the goal
of the finance function is to serve the organization's financial/accounting needs while laying a
platform for the future. This means handling clerical tasks, providing information to the
organization, and setting financial policies and strategies that will serve the company in the
future. To succeed in these three broad areas, the small and emerging business must be
prepared to develop a finance function that both suits its needs and can adapt to the growth and
changes of the business. The first step is to develop an adequate finance function. To do this, it
Marketing is a diverse field and it performs major functions for the organization. Marketing
aims to identify and satisfy customer needs, it connects the customer needs with the firm’s
production function. Its major role is to estimate the demand. All these aims and objectives can
be translated into four important functions of marketing. The first one is exchange function, in
which it performs the buying or raw materials, selling of goods and pricing the products. The
second one is the physical function in which the actual assembling of the goods takes place,
storage, transportation, packaging and standardization takes place. The third major function is
the facilitating function as it collects information that is used by other divisions of the
Marketi
Functio
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