Preview

mpio

Powerful Essays
Open Document
Open Document
1154 Words
Grammar
Grammar
Plagiarism
Plagiarism
Writing
Writing
Score
Score
mpio
INTRODUCTION:
Gatron (Industries) Ltd. and Novatex Limited belong to a group of companies, G&T – Gani & Tayub. The group is in business since 1948. These five decades of operational excellence, experience and expertise have all formed a combined strength to empower the group as a leading name in Polyester Filament Yarn, Polyester Chips and PET Resin in Pakistan.

Following are the major departments of Gatron (Industries) Limited:
1. Finance Department
2. Marketing Department
3. Supply Chain Department

HUMAN RESOURCE ACTIVITIES AT GATRON (INDUSTRIES) LIMITED OF DIFFERENT DEPARTMENTS.

1. FINANCE DEPARTMENT:
The activities expected from a finance department cover a wide range from basic bookkeeping to providing information to assisting managers in making strategic decisions. What to expect from your finance department will depend largely on factors such as how much involvement the owner/manager has in the organization.
The finance department is also responsible for management of the organization’s cashflow and ensuring there are enough funds available to meet the day to day payments. This area also encompasses the credit and collections policies for the company’s customers, to ensure the organization is paid on time, and that there is a payment policy for the company’s suppliers. In most organizations there will be some form of forecast prepared on a regular basis to systematically calculate the ongoing cash needs.

2. MARKETING DEPARTMENT:
Following are the main activities in marketing department:
Focus on the customer.
Monitor the competition
Own the brand
Create new ideas
Manage the budget
Set the Strategy, Plan the Attack, and Execute.

3. SUPPLY CHAIN DEAPTMENT(SCM):
SCM is the management of a network of interconnected businesses involved in the ultimate provision of product and service packages required by end customers.
Main activities of SCM are as follows:
Planning
Execution
Control
Monitoring
Leveraging

You May Also Find These Documents Helpful

  • Good Essays

    Tescos Functional Areas

    • 1263 Words
    • 6 Pages

    The finance department in Tesco’s is there to ensure that Tesco stays up and running. The main activities of the finance department is to record all business transaction clearly. So they would record all of their expenditure and all of their incoming money. They would also allocate each department a budget, and make sure that they do not exceed that budget. The finance department would also look at and monitor Tesco’s financial performance, by monitoring how Tesco is doing financially. They need to control all finances and cash flow to make sure that Tesco’s stays reliable and does not go bust. They need to make sure that there is enough money to pay off debts, loans, bills and their employees, and making sure that there is enough money for the company itself. To make carful financial decisions, by comparing the predicted performance with the actual performance, they do this by looking and comparing their financial situation is past years to their financial situation now. By doing this they can decide if they expense of whatever they want to invest in,…

    • 1263 Words
    • 6 Pages
    Good Essays
  • Good Essays

    Within financial management there are four fundamental elements to consider: planning, organizing, controlling, and decision-making. Planning includes a step-by-step process that influences decisions in revenue and organizational goals. Organizational management must intercede between personnel and the induction of financial planning. A financial manager is accountable for decisions made during the planning process. All information assembled and forecasted will aid in informed decisions and positive outcomes (Baker & Baker, 2011).…

    • 729 Words
    • 3 Pages
    Good Essays
  • Good Essays

    o Finance is the financial management associated with maintaining and creating financial significance or financial. The finance role determines how decisions are made, investing assets, replacing assets, borrowing bank money, stocks and bond decisions, extending credit, and cash preservation prosperity.…

    • 659 Words
    • 3 Pages
    Good Essays
  • Better Essays

    There are several elements that are involved in financial management. However, there are four key elements that will be discussed throughout this paper. Those elements consist of planning, organizing/directing, controlling, and decision making. Planning requires management to set realistic objectives and devise a plan or course of action to achieve those objectives. It requires managers to be aware of their organizations current financial status as well as their future financial status in order to make sound decisions.…

    • 962 Words
    • 4 Pages
    Better Essays
  • Powerful Essays

    Health Care Budget Paper

    • 1163 Words
    • 5 Pages

    Financial Management means planning, organizing, directing and controlling the financial activities such as procurement and utilization of funds for an organization. It means applying general management principles to financial resources of the enterprise or organization. The scope of financial management can cut across a wide range of the organizations departments and can involve investment decisions including investment in fixed assets. Investment in current assets is also a part of investment decisions called working capital decisions. Financial management also involves making financial decisions. These relate to the raising of finance from various resources which will depend upon decision on type of source, period of financing, cost of financing and the returns thereby. Dividend decisions are also part of financial management. The finance manager has to take decision with regards to the net profit distribution. Financial management is generally concerned with procurement, allocation and control of financial resources of a concern. The objectives can be to ensure regular and adequate supply of funds to different departments of the organization, to ensure adequate returns to the shareholders which will depend upon the earning capacity, market price of the share, expectations of the shareholders, to ensure optimum funds utilization. Once the funds are procured, they should be utilized in maximum possible way at least cost. Also financial managers ensure safety on investment making sure funds should be invested in safe ventures so that adequate rate of return can be achieved. Finally they also plan a sound capital structure. There should be sound and fair composition of capital so that a balance is maintained between debt and equity capital.…

    • 1163 Words
    • 5 Pages
    Powerful Essays
  • Satisfactory Essays

    The financial department of Boeing is mainly responsible for the monetary side of the company. They keep track of the company’s finances and are in charge of conducting the business that needs to be accomplished. Some of their responsibilities include paying the bills, and collecting on debts when necessary, auditing other departments to ensure accuracy in all financial records and setting budgets for all departments to ensure that the company will continue to prosper.…

    • 467 Words
    • 2 Pages
    Satisfactory Essays
  • Good Essays

    How Functional Areas Work

    • 1634 Words
    • 7 Pages

    The finance function of the business usually controls the cost, money going in and out of the business. They would keep a record of cost going out the business, and calculate whether the business is making a profit or loss. The finance department are responsible for sending invoices to customers, clearing cheques which are received, and also preparing payrolls so they can pay staff salaries. Anything to do with money is dealt by the finance department in any organization. The finance department work with the marketing department to help them with their finances. The finance department allocates the budget to support various activities the marketing department carry out. So for example, if the marketing department at Tesco’s want to carry out a promotion through direct mail, they would ask the finance department first; from there the finance department will decide if they are able to fund this type of direct mail promotion. Tesco’s would not be able to carry out this activity without consulting the finance department, because the money only goes in and out of the finance department. Furthermore when the marketing department need money for researching and development to design new products to attract potential customers, they would again consult the finance department who would allocate suitable funds, so that the marketing department can carry out this activity efficiently. The marketing department at Tesco’s may also need money if they want to distribute materials such as posters with special offers, if they don’t consult the finance department about this activity, then the marketing department at Tesco’s could be losing money for…

    • 1634 Words
    • 7 Pages
    Good Essays
  • Good Essays

    << THIS CAN BE USED FOR JOB APPLICATIONS / INTERVIEWS >> when they ask what do you expect a finance department do - OTHERWISE can be used for Financial Accounting assignments :)! Hope it helpsThe Finance DepartmentThe finance department of a business manages money for thebusiness/company. The department records the financial transactions ofa business and helps it plan for the future financially.…

    • 550 Words
    • 2 Pages
    Good Essays
  • Good Essays

    Budgeting

    • 2411 Words
    • 10 Pages

    The manager of each department or function in a business is responsible for the performance of his or her department or function. Separate operational, or functional, budgets must be prepared for each department or activity detailing the department’s revenue (if any) and expenses for a given period. The budgets will be prepared for sales, production, purchasing, personnel, administration, treasury (cash and banking), etc. opinions differ as to who should prepare these budgets.…

    • 2411 Words
    • 10 Pages
    Good Essays
  • Good Essays

    Financial management is characterized as the management of the finances of a an organization or business in order to accomplish financial objectives. The major goals of financial management are to create wealth for the organization, generate revenue, and provide successful returns on investments. There are four major functions to financial management: planning, controlling, organizing and directing, and decision-making (Baker & Baker, 2011). There is a common set of accounting principles, known as general accepted accounting principles (GAAP), in which organizations use to compile their financial statements. These standards and procedures must be adhered to or organizations can risk governmental penalties for non-compliance. Non-compliance can also lead to fraudulent assumptions and bad reputation, but following professional ethical standards and procedures can lead to successful organizational outcomes.…

    • 1027 Words
    • 5 Pages
    Good Essays
  • Good Essays

    1. Marketing department- Marketing department should consist of people who understand wide aspects of marketing and they should be able to carry out marketing function within the marketing department by understanding the need of department as whole and individual needs of the workers.…

    • 800 Words
    • 4 Pages
    Good Essays
  • Satisfactory Essays

    SCM unites customers and suppliers with the intent of maximizing responsiveness, augmenting flexibility, eliminating paperwork and controlling cost.…

    • 284 Words
    • 2 Pages
    Satisfactory Essays
  • Powerful Essays

    Tia Patel Unit 1 P3 Task1

    • 1036 Words
    • 4 Pages

    - The Finance Department - in M&S keeps records of financial activity e.g. balance sheets, Profit & Loss statements, sales, payments made by the business. They provide managers with…

    • 1036 Words
    • 4 Pages
    Powerful Essays
  • Better Essays

    Hcs/405 Week 2

    • 1095 Words
    • 5 Pages

    Depending on the purpose of each task there are four basic elements of financial management. These basic elements are: planning, controlling, organizing and directing, and decision making. Planning consists of identifying the organization’s objectives and the steps that need to be taken to achieve the objective. Planning could also be described as identifying the problem and what needs to be done to fix the problem. The controlling step includes making sure the plans established in the planning step are being followed through with throughout the organization. Managers often accomplish this task by reviewing reports from before and after the plan was put into effect to see the areas of the organization that are not being effective with the new plan and show management which areas need extra attention. When in the organizing and directing stage of financial management, management needs to make sure all of the organization’s resources are being properly utilized to the fullest extent. Daily review of the efficiency of the organization’s resource use will ensure maximum efficiency when the plan is finalized. The decision making stage should actually be happening throughout the financial management process. Management needs to be able to evaluate and analyze each bit of information in order to make informed…

    • 1095 Words
    • 5 Pages
    Better Essays
  • Powerful Essays

    The Director of Finance has the overall responsibility of ensuring that the accounting systems, procedures and controls set out in this Manual are applied consistently, efficiently and effectively.…

    • 16662 Words
    • 67 Pages
    Powerful Essays