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Revision Notes for Chapter 16
1. Department a section in a business where all employees have similar skills
and specializes in similar areas
Production: Production department is responsible for converting raw
materials into finished or semi-finished goods, and providing services.
Marketing: The role of marketing department is to satisfy customer needs.
Marketing department may perform market research, plan new products,
setting prices and promotion schemes, and distributing the products.
Finance: The financte department is responsible for admistering finance, for
example credit control, controlling and planning budgets, and producing cash
flow forecasts and accounts.
Human resources (HR): The HR department is responsible for the wellfair of
the business. They may form employment contracts, provide training,
dismiss employees, and etc.