Victoria Korotcova

Functions of an Organization: Service Industry Victoria Korotcova

Businesses operate in a dynamic and diverse environment. This environment sets out the standards that all businesses should stand up to. Businesses should meet legal and financial requirements, and should accomplish a set of functions. These functions are: R&D, production, commercial, financial-accounting, and HR. They all are absolutely necessary for the businesses to grow and prosper. They are closely related one to another, and usually do not operate separately one from another. All production and service companies accomplish all five functions. Functions can be integrated into one position or be performed by separate departments. One way or another, each function requires proper attention and should not be neglected. In order to be competitive and successful, any business should play by the rules set by the economic environment.