Instructor Date Managing Work Activities Q1: Identify at least five functions of an engineering business (which could be the engineering business you established in assignment 1). Classify those functions according to their purpose. Show the relationship between these business functions using the organisational structure of the engineering business Business engineering is a multidisciplinary approach to business management, which according to Benjamin, ensures that businesses are able to operate at minimal costs, yet achieve maximum value (2)…
Accounting and finance is concerned with an analysis of the budget in the business in order to minimize costs and maximize savings. Finally, the Legal function takes care of any business contracts with all stakeholders, and also deals with compliance with domestic and international standards. All these functions complement each other especially following Nokia’s organizational structure. The office of the CFO ensures that there are enough funds to fund the budget and pay the staffs, thus making sure that the human resource and finance functions. Availability of funds and personnel eases the processes of marketing and customer service, since there are more people to do the work. By knowing what the consumer wants, the company is able to come up with products that meet the set legal standards, while also pleasing the customer. Q2: Explain the functionality of three departments of an engineering business of your choice, (which could be the engineering business established in assignment 1). Explain the importance and effects of each function on the operation of the company as a whole. The department for designing is the most significant in Nokia. This department determines the look of Nokia products, in addition to their various functionalities. Accordingly, this department has to create products that are appealing to the consumer, yet they are affordable and have high functionality. According to the Nokia website, the design department houses the solutions unit which is tasked with coming up with practical products that have varied content and are able to meet the personalized need of the consumer. Essentially, Nokia’s products should be able to offer solutions to some consumer needs, for example, the need to access the internet using a mobile device. While doing this, the design department needs to maintain low operational costs so that the company maximizes profits. It is the design department that ensures that Nokia stays in the market, by designing products that offer a competitive advantage with Nokia’s rivals. Without the designing department, Nokia would not be able to compete with other manufacturers, in the production of state-of-the-art products. Fundamentally, the design department is the one that ensures that Nokia remains relevant in the business, thus assuring the company’s survival. The human resource department is a very important department, since it is charged with the recruitment, training and sometimes, retraining of personnel. According to Griffin, a company needs to identify future human resource need s and recruit accordingly (232). Without this department, Nokia, and any other company would not be able to run operations, since machines cannot operate themselves. Human resource ensures that people with the right qualifications are employed and that they are trained to meet the standards at Nokia. Without the right workforce, Nokia would not be able to battle in the global market which has become increasingly competitive in recent years. The sales and marketing department at Nokia ensures that the company has proper sales channels through engaging in product branding and promotional activities. In the current ...
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