General Management Business Function Manages the production process, plans production schedules and ensures that machinery, staff & materials are efficiently utilized. In order for a business to be effectively managed the retailer has to malting the above mentioned criteria. 2. Production Business Function Its purpose is to be in full control in the production process. Make effective planning production schedules.
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Specifically concerning the retail industry that produces its own brand product it has to also maintain good standard on machinery, staff & trials are efficiently utilized which produce the products. There must be weekly monitoring of health & safety & environmental issues. Research & Development * Develops products, designs, conducts, experiments & tests the need on the new products created. Manages projects. Writes reports. Keeps up to date with new developments. Technological changes have to be taken Into consideration quicker to malting the profits made In the business. * Demonstrates & presents products to customers. Manages budgets. Learns about new products. Makes sure that the product meets the customers’ requirements. Writes tenders ; proposals. 3. Marketing Business Function Coordinates all the elements involved in successfully promoting ; selling a product: market research, pricing, packaging, advertising, sales, distribution.
Most retail businesses use forecasting, implementation of plans and also budgeting to maintain effective marketing strategy. 4. Financing Business Function This business function provides the information required for the financial protection ; planning of companies. It also prepares accounting records ; management information as mostly in the business Industry corruption as at most appending In retail our business will ensure good relations and faithfulness on Accountants and Auditors, 5.
Human Resource Business Function It Is specifically on recruiting ; selecting new staff. H. R deals with contracts of employment, job descriptions, training, management development, industrial relations ; disciplinary matters. It is also responsible for improving skills of employees already employed in the business by means of induction. 6. Purchasing Business Function Locates ; maintains relationships with suppliers, of products.
On the retails that reduce it is not utmost fully important because there will be fewer products purchased from outside our business but ensuring the cash flow of the business will be another core function, negotiating on prices, delivery dates ; product specifications. 7. Public Relations Business Function All aspects of media ; public relations for clients: e. G. Corporate brochures ; exhalation stands. Prepares press releases, organizes press briefings, conferences ; PR campaigns. It Is also there to ensure that corporate investments to the society are done regularly, whilst ensuring good public viewing on