Business Functions and Managerial Responsibilities

A business function is an operation or an undertaking that an organization performs regularly to achieve the desired goals and objectives (Kerzner, 2010). These business functions include:

The board of directors is responsible for overseeing and monitoring the organization’s overall running and implementing its goals and objectives. They also delegate powers and responsibilities to the management and keep in touch with top company officials.

The project manager-he or she does the day to day management of company affairs. They are responsible for successfully implementing projects, setting short-term goals and targets, and working towards attaining them.

Research and Development departments- are responsible for coming up with new projects, technologies, and ideas and improving existing ones. They also collaborate with the manager to come up with designs and products to meet consumers’ needs. They also work with the human resource manager to develop training tools to develop knowledge and skills for the employees.

Accountants are responsible for the day to day financial accounting, preparation of financial statements and reports, budgeting for projects, keeping records of all transactions done, and making entries of revenues and expenditures into the books of account. They also provide the necessary information and financial reports to internal and external auditors. The accountants can also advise the project manager on the budget and expenditure levels on a given project.

Human resource managers are responsible for hiring and recruiting new employees into the organization; they motivate employees and attend to their welfare and organize workshops and programs that provide them with relevant skills in their various work fields. They also handle any bonus payment or compensation claims made by workers and forward the information to the concerned department.

Sales and marketing – their core responsibility is to promote and market the projects to targeted customers. They play a significant role in ensuring the projects’ success by effectively selling the final products to the consumers to ensure they bring forth good returns to the company. They work to publicize the company’s brand and meet the set sales targets.

Hand-offs occur at various functional domains. The project manager comes up with a project plan and hands it over to a team of employees. After working on the project, the final product is handed off to the sales and marketing manager to be sold off to the customers. Income that is generated from the project is handed over to the finance department. The responsibility of the accountant is to keep a record of all the transactions made, the receipts, and bank statements and available them to the auditor. The human resource will carry out interviews and hire a new lease of employees into the company who will in-turn be under the supervision of their respective departmental assistant managers.

The project manager is the one responsible for adopting, executing, and implementing a project. He or she has the duty to oversee the implementation of the project and set targets which employees work to attain (Lewis, 2011). The project manager uses to ensure that the final product meets consumers’ satisfaction and is up to standard in accordance with the organization’s policies and objectives.

The project manager has to work with a team of employees who are acquainted with the necessary skills to successfully run the project to completion.

References

Kerzner, H. (2010). Project Management Best Practices: Achieving Global Excellence. (2nd ed.). Hoboken, NJ; John Wiley and Sons, Inc.

Lewis, J. P. (2011). Project Planning, Scheduling, and Control: A hands-on guide to We are bringing Projects in on Time and on Budget. (5th ed.). New York; McGraw-Hill.