Finance and Accounts are in most businesses the most important functional area or department, this is because they have to set budgets for other functional areas to bide by for example, advertising. The Finance and Accounts staff have to set a budget telling the marketing and sales staff how much money they can spend. Finance and Accounts are also responsible for preparing and organising accounts, which is a legal requirement for most businesses.
Even a small business has to calculate its profit, because the Inland Revenue needs this figure to calculate how much tax the owner must pay. Also the Finance and Accounts staff have to calculate how much money is coming in and out of the business. For instance, they have to calculate the money spent on buying products for sale from wholesalers, all the money that is spent on staff salaries, all the money lost on products that have been thrown out due to not being sold and the money that is spent on rent for the store.
And then calculate it all together and see if they are progressing or failing. Morrisons have made acquisitions before in the past, with the takeover of Safeway. If they want to expand or make more acquisitions the Finance and Accounts department would have to see if they have enough money to do so and if they do they would have to see if the move they are going to make would be profitable, if they don not research on moves that they are going to make and they fail they will lose masses amounts of money and lose their reputation.
Paying staff is function carried out by the Finance and Accounts team. It is important to pay their staff as soon as they are due to be paid, this is important because when the staff are happy with their jobs they do it much better and then that makes customers feel happier. Administration & IT In most businesses the Administration and IT department are seen as the heart of the whole business. This is because they are set out to do one thing and one thing alone, which is to make sure business runs smoothly.
In order for the Administration team to achieve their aim they would have to be responsible for many key areas. In Morrisons the clerical work done includes the collection and distribution of mail, record keeping, organising meetings and responding to enquires. Many different tasks are carried out by administrative and clerical staff during an average day. Some are routine, such as opening the mail, ordering stationary, preparing and filing documents.
Also other tasks need doing, such as answering the phone, assisting callers, responding to urgent emails or faxes, and so on. The cleaning and maintenance is very important because when we went to Morrisons the store manager told us how a lot of customers do not like it when trolleys and baskets are dirty, so if the cleaning and maintenance is not done they might lose some of their customers. Health and safety is a major issue in all businesses, some more than others. It is not only the safety of the customers, also the workers have a right to work in a safe environment.
If the place of work hasn’t passed the trading standards’ requirements then they have the right to close it down, if this were to happen to any Morrisons store they would lose a lot of customers that is why Health and Safety a major issue. All Administrative staff have to be trained to do their jobs safely in order to stop accidents from occurring. Security is also another area which is contracted out to specialist security companies. The security staff checks and record the details of all visitors, issue visitor passes and make sure all that passes have been returned.
No matter where you work, you will be expected to cooperate with the security staff over security measures, from wearing an identity card to closing windows at the end of the day. Support for all the IT functions in Morrisons is very important. In any organisation, computer failure causes serious problems. In a company which uses a networked computer system for the creation, storage and transmission of electronic information, computer failure can be catastrophic. Every moment the computers are down loses business and therefore loses money.