In the post below you will come by short descriptions of the types of departments you will discover in any typical company and the roles people perform in these departments.
One of the primary objectives of any firm is to make a profit by selling a certain kind of service or good. To ensure that customers continue buying this service or good a company has to constantly 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 new products. Businesses in all sectors and all markets undergo R&D activities, as it is so important to stay on pace with consumer demand for brand-new products. Even so, if it is a small business, R&D activity is generally outsourced to companies that specialise in this, but bigger ones will have a committed in-house team. R&D is one of the primary aspects when it comes to the advancement of a company, as it introduces enhancements and brand-new advancements to products and services which allows them earn a better profit, and subsequently helps the company 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 daily activities; nevertheless, accounting takes one of the most important spots in a company structure. Because accounting is not directly engaged in producing a product, it is generally grouped with the administrative departments in a company. The accounting department, like the UAW accounting department for instance, supply financial support to the company it belongs to and deals with a whole number of tasks related to finances. This departments makes records of accounts payable and receivable, inventory, fixed assets, payroll amongst many other financial factors. Accountants need to review the records of every other department in the business in order to figure out the company’s financial position to make a decision whether any changes to how the business is run must be made to make it more cost-efficient.
When we look at all the various departments in a company hierarchy, the board of directors will be found at the very top of that hierarchy. The board of directors, like the Telecom Italia board, performs a really special function that is distinct from every other employee in the firm. Typically, the board of directors is made of people who have a strong interest in how the company is run. Members of the board vote and examine significant challenges that are likely to impact the future of the company, like its long-term targets, any adjustments in the strategy, and hiring of any members of the upper management for instance.