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Departments Of A Business Essay

3335 words - 13 pages

Departments of a Business Within a business there are the different departments: marketing,
finance, human resources, and administration. Each of the departments
have there own aims. These aims can lead to a businesses success or
failure depending on whether the aims/objectives are met. Some
departments have the same aims as the others, for example finance and
human resources may both have the aim to be a good employer. But this
aim is achieved in a different way by each department.

Finance

The main aim of the finance department is to make a profit in order
for the business to survive. If the business is trying to survive the
finance department must find a source of finance. This can be internal
(within the business) or external (external sources out side the
business). A source of finance that is internal includes the business
profits and selling assets from the business (selling something the
business owns, in Cadbury's case it could sell a business that they
own e.g. sell Dr Pepper to Coca-Cola). External sources of finance are
from a bank or building society. If the business requires a huge
amount of money (e.g. Thousands) a loan or mortgage will be arranged
with the bank. But if only a small amount of money is needed an
overdraft can be arranged with the bank. Another external source can
be the share the business receives from shareholders but only if the
business is a PLC or Ltd. Cadbury's is a PLC.

The business has two different times of expenditure, these are
revenue, which is money for day to day expenses and capital this is
money that is spent over a longer period of time. They also get money
for certain amounts of time these are long, medium and short-term
finances.

Making a profit is the main aim of the finance department. The finance
department achieves this by monitoring the businesses progress
throughout the year, compared to the expected profit. The department
will calculate the expected profit with there previous years profit,
maybe they will set a high target than the previous year in order to
expand. In 2002 Cadbury's sales reached £2,354 million, whereas this
year Cadbury as already achieved £2700 million, this evidence is from
the Cadbury Sweppes interim report (half year highlights). From the
profit made the business can expand. This can be done by buying or
merging with other businesses. Cadbury's is a good example of a
business that is in growth. Cadbury started has a small shop in
Birmingham, a one man business. The business had made enough profit to
expand and buy a large factory in Bournville. The business became
multi-national and merges with Sweppes to create Cadbury Sweppes.
Cadbury Sweppes is manufacturing in 25 countries and markets in 170
countries.

...

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