The objective behind running a business is earning a profit. Success doesn’t mean simply buying a and selling. A lot of activities should be carried out on a regular basis to march towards success. The owner makes decisions, set up the guidelines to be followed and orates the daily activities to ensure business growth and efficiency. Different types of business activities are carried out in a sector. Let’s break down one by one.
Budgeting: Every company near crafts their annual budget which includes all sorts of revenue and expenditure. A company may have several departments and each department performs a set of tasks and governed by expertise. The amount spent on ongoing processes and revenue earned, salary to the employees are taken into account while writing down the budget. The budget serves as the measure of a company’s progress and management efficiency.
Accounting: This helps to keep track of all the money spent and earned. It involves nothing down the accounts payable, receivable, employees payroll, marketing costs, and others. Data entry is done once a week is for small-scale industries and software are used to keep track of records in large sectors.
Human Resource: Human Resource Department is indispensable for larger concerns. They conduct interviews and take care of employee acquisition. HR manager helps in future expansion of the business by carefully picking the skilled candidates for the right position.
Sales: The sales team works closely with the customers, develop brochures and prospects and maintains a healthy relationship with the existing customers. A dedicated time schedule should be fixed to carry out the sales oriented tasks.
Marketing: We cannot sell our products without marketing. The marketing works hard to ensure that the product reaches the target audience. They create awareness about the product and pulls the crowd towards it. Marketing can be performed through television, newspapers, and with the aid of the internet.
Customer support: Many enterprises offer 24×7 customer service. It is essential to retain the customers. The customer care persons should be on their toes and be available any time at the doorstep of the customers. The management team deals with customer queries, return policies and service.
All these activities are monitored and lead by respective managers. And these managers are on good terms with the proprietor of the company. Altogether, they work efficiently for the reputation of the company and well being of the employees.