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Sole trader – A sole trader is a company who is being run solely by one person. And all business payments are incorporated with the individuals finances and taxes. Also a person who trades without the use of a company structure or partners.
Multi-national companies – A multi national company is a company which has more than one branch in one country.
Human Resources What are Human Resources? Human resources is a term used to refer to how people are managed by organizations. The Human Resources Management (HRM) function includes a variety of activities, and key among them is deciding what staffing needs you have and whether to use independent contractors or hire employees to fill these needs, recruiting and training the best employees, ensuring they are high performers, dealing with performance issues, and ensuring your personnel and management practices conform to various regulations.
As a human resources (HR) officer you must have a clear understanding of your organisation’s business objectives and be able to devise and implement policies which select, develop and retain the right staff needed to meet these objectives. The exact nature of the work activities varies according to the organisation, but is likely to include:
working closely with departments, increasingly in a consultancy role, assisting line managers to understand and implement policies and procedures;
promoting equality and diversity as part of the culture of the organisation;
liaising with a wide range of organisations involved in areas such as race relations, disability, gender, age, religion and health and safety;
recruiting staff - this includes developing job descriptions, preparing advertisements, checking application forms, shortlisting, interviewing and selecting candidates;
developing policies on issues such as working conditions, performance management, equal opportunities, disciplinary procedures and absence management;
advising on pay and other remuneration issues, including promotion and benefits;
undertaking regular salary reviews;
negotiating with staff and their representatives on issues relating to pay and conditions;
administering payroll and maintaining records relating to staff;
interpreting and advising on employment legislation;
listening to grievances and implementing disciplinary procedures;
developing HR planning strategies with line managers, which consider immediate and long-term staff requirements in terms of numbers and skill levels;
planning and sometimes delivering training, including inductions for new staff;
analysing training needs in conjunction with departmental managers.
This is an integrated communication based process where individuals and communities are persuaded that existing and new needs and wants may be satisfied by a product services or other. Marketing is used to create a customer and to keep customers satisfied.
Marketing department are there to basically advertise and sell a businesses service/product. They do this by setting up websites, posters, magazine articles etc.
This is the department that handles gathering and processing of information valuable to the companies speciality. R&D departments will handle the gathering of information via internet, questionnaires, field work etc. Once they then gather the information, they look at it and see what parts are relevant and then give it to the developers. They then look in closer detail at the gathered information and use it for developing there product/service.
The administration department of businesses have overall control of near enough, the entire business. They give the orders to all other departments on what they are to do. They have total control of each individual department but they leave the leaders of each department to make there own decisions. Although certain jobs such as allocating staff is left to the administrators.