Being part of a company means being a part of a team of men and women that perform a number of tasks as a way to attain the same mission.
When we look at all the various departments in a company hierarchy, the board of directors will be found at the very top of that hierarchy. The board of directors, like the Telecom Italia board, performs a very special part that is unique from every other employee in the business. Commonly, the board of directors is composed of men and women who have a direct interest in how the company is run. Members of the board vote and examine important challenges that are likely to impact the future of the firm, like its long term goals, any changes in the strategy, and hiring of any members of the upper management for example.
One of the main goals of any company is to make a profit by selling a certain type of service or good. To ensure that customers keep on buying this service or good a company has to constantly keep track of new developments and innovate the products that they offer. Research and development department, or R&D for short, like the Ikea R&D for example, is the department in a company hierarchy structure that is concerned with innovation and introduction of brand-new products. Companies in all sectors and all markets undergo R&D activities, as it's so significant to stay on pace with consumer demand for brand-new products. Nevertheless, if it's a small business, R&D activity is generally outsourced to businesses that specialise in this, but bigger ones will have a dedicated in-house team. R&D is one of the main aspects when it comes to the growth of a business, as it presents enhancements and brand new advancements to products and services which allows them earn a much better profit, and consequently helps the company expand in size and stay on top of its competition.
Many people will classify accounting as one of the less interesting components of a business's every day activities; however, accounting takes one of the most significant spaces in a company structure. Because accounting is not directly involved in producing a product, it's usually grouped with the administrative departments in a company. The accounting department, like the UAW accounting department for instance, offer financial support to the company it belongs to and deals with a whole number of tasks relating to finances. This departments makes records of accounts payable and receivable, inventory, fixed assets, payroll amongst a great many other financial aspects. Accountants have to review the records of every other department in the firm as a way to figure out the company’s financial position to decide whether any changes to how the firm is run really need to be made to make it more cost-efficient.