Discuss The Key Departments In Business

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Introduction

Every company and Business regardless of their activities, size , products or strategies should have a specific organizational structures that helps to divide the tasks assigned to employees and facilitates communication within the organization and help achieving the business goals .
It is '' The typically hierarchical arrangement of lines of authority, communications, rights and duties of an organization.
Organizational structure determines how the roles power and responsibilities are assigned, controlled, and coordinated, and how information flows between the different levels of management. A structure depends on the organization's objectives and strategy '' (Business Dictionary, ND).
But even though this structure differs from one business to another, some key departments are mandatory to have and essential for every business to be efficient whether it is in the manufacturing or production industry.
This Report aims to define the key departments in Business , explain their functions and importance in any organisation and clarify how and to which extent they can help in achieving the Business goals.

Key departments within Business
Organisational structure is the base of any business and it differs from one …show more content…

Money is the lifeblood of a business and finance is the nerve centre. Finance is required to promote or create a business, gain assets, develop products, run market surveys, advertise. The conventional view of finances focuses on being reactive, efficient, quantitative and risk averse. New innovative views focus on being vision-oriented, opportunity and growth focused, intuitive and risk-taking.''(Griffen,

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