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Many will agree, that main function of a business organisation is to maximise profits. This is true to a certain degree, but many well known and also profitable business organisations do some fundamental things very well. They are,
1. Having a solid product portfolio and sustaining the same with competitive quality and pricing.
2. having an eye on innovations and products for future need / requirements.
3. Keeping Human Resources / employees / suppliers/ buyers; happy and rewarding them for their performances. as regards to the employees- they are the people who make the organisation complete. so they should be handled with care. Give responsibilities and powers to execute it. If they do well; reward them. Invest in training.
4. Sustaining the above three points without fail. Resulting in profits.
5. Should have a good cash flow in the business, having enough General Reserves for innovations- new products- reward programmes, having a good credit rating with financial institutions.
6. Marketing, sales, sales-support and Finance functions should be handled carefully and there should always be room for rookie ideas to pour in. No harm in having fresh ideas.
any company that does the above, are successful companies. You will find a lot of companies doing these simple things well. Hence their Balance sheet is always in "handsome Black".
What else can I help you with?
Can a university be described as a business organization?
Yes, a university can be described as a business organization. It runs similar to a business with all the positions that a normal business has and more.
Which is not one of the three forms of business organization?
Following are three forms of business organizations:Sole properietorshipPartnershipCorportationAny other entity except these are not form of business organization.
What are the purposes of business organization in accounting?
Fak U!
What are the functions of corporate affairs in business?
To act as the face of the business in regards to corporate brand and reputation
Why are reports indispensable documents in business?
Reports are indispensable to business because they help to provide an overview of the financial health of the organization. They help in planning for the future needs of the business. Reports help managers to see the bigger picture in the organization.
What is financial function in business organization?
financial functions of a business organization
Give the 4 functions of business organization?
There are 4 major functions of business organization. These major functions include flow, communication, financial accountability, as well as leadership.
What are the five types of TPS in business organization and their functions?
what are the five types of TPS in business organisation and their functions
What is a small core organization that outsources major business functions?
matrix
What three major functions of business organization can you enumerate and explain briefly?
finance, operation,marketing
What is a institution that functions much like a business but does not operate for the purpose of generating profits?
nonprofit organization
What is the main function of the business?
This is predicated upon the question, why are we into this business? We are into this business to make profits; provide a good or service which is not being produced currently etc. How are the profit objectives achieved? It is through the functional areas of the business such as marketing, Human Resource etc which help the organization to realize its functions. Therefore, the functional areas of a business are the vehicle by which the organization's functions are realized.
What is the core and support function in and organization?
The core and support function in an organization is marketing and distribution. Support functions are known to facilitate the core operations of the business.
Which is more likely to decentralization staff functions dedicating them to each business or product organization?
Larger Companies
What are the different functions of production and operation management POM within the business organization?
production and operation management function
Which type of software enables data to be used by multiple functions and business processes for organization coordination and control?
Groupware
Write an overview on the HRM functions of your organization or an organization you are familiar with Briefly describe the organization you are referring to?
HRM functions
