Business Functions Essay

1070 Words 5 Pages
Personnel/Human resources
Human resources is said to incorporate and develop personnel management tasks, while seeking to create and develop teams of workers for the benefit of the organization. A primary goal of human resources is to enable employees to work to a maximum level of efficiency. human resources involves ongoing strategies to manage and develop an organization's workforce. It is proactive, as it involves the continuous development of functions and policies for the purposes of improving a company’s workforce.
Personnel management is often considered an independent function of an organization.
Personnel management can include administrative tasks that are both traditional and routine.

Production and operation management
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recording daily financial activities, and at a more advanced level with preparation of the final accounts e.g. the profit and loss account and balance sheet.
Management accounting is concerned with providing managers with management information such as information about costs, and forecasts of future costs and revenues. Financial information can be fed to those who require such information for decision-making and record-keeping purposes.

For example, managers need information in order to manage the business efficiently and constantly to improve their decision-making capabilities. This is especially true when analysing accounts using ratios. Shareholders need to assess the performance of managers and need to know how much profit of income they can take from the business. Suppliers need to know about the company's ability to pay its debts and customers wish to ensure that their supplies are secure. Any provider of finance of the

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