Unit I Scholarly Activity: Assignment Demonstration

Unit I Scholarly Activitythis Assignment Allows You To Demonstrate The

The purpose of this assignment is to describe the goals and responsibilities for each of the core components of business. Then, list the typical job titles and a cost associated with each component. The table below contains cells where you can insert each of these elements. Describe the goals and the responsibilities with one or two sentences. Then, simply list the typical job titles in the appropriate cells. Each typical job title cell contains the minimum quantity of titles to include. Finally, list one type of cost associated with each component; you must use a different type of cost for each component (i.e., you can only use “salary” once). In your own words, complete the table below. Then, save all of your work to this template and submit it in Blackboard for grading.

Paper For Above instruction

The foundational structure of any successful business hinges on its core components, each with distinct goals, responsibilities, roles, and associated costs. Understanding these elements is essential for effective management and strategic planning. The following analysis delineates the primary objectives, key responsibilities, typical job titles, and costs associated with each core component: Strategic Management, Finance and Accounting, Human Resource Management, Marketing, Sales, and Operations Management.

Strategic Management

The primary goal of strategic management is to formulate, implement, and evaluate strategies that ensure long-term organizational success and competitive advantage. It involves setting organizational direction, making decisions about resource allocation, and adapting to changing environments. Responsibilities include environmental scanning, strategic planning, and performance monitoring.

  • Typical Job Titles: Chief Strategy Officer, Strategic Planner, Business Development Manager
  • Type of Cost: Salaries

Finance and Accounting

The objective of finance and accounting is to manage the organization's financial resources responsibly, ensuring fiscal accountability and supporting sustainable growth. Responsibilities encompass financial reporting, budgeting, auditing, and financial analysis.

  • Typical Job Titles: Chief Financial Officer, Accountants, Financial Analysts
  • Type of Cost: Operating Expenses

Human Resource Management

The goal of human resource management is to recruit, develop, and retain talented employees who can contribute to organizational success. HR manages employee relations, training, compensation, and compliance with employment laws.

  • Typical Job Titles: HR Manager, Recruitment Specialist, Compensation Analyst
  • Type of Cost: Salaries

Marketing

The core goal of marketing is to identify customer needs, promote products or services, and foster brand awareness to drive demand. Responsibilities include market research, marketing campaigns, and public relations.

  • Typical Job Titles: Marketing Manager, Brand Coordinator, Digital Marketing Specialist
  • Type of Cost: Advertising and Promotion Expenses

Sales

The goal of sales is to convert marketing efforts into revenue by building customer relationships and closing deals. Responsibilities include customer engagement, sales negotiations, and account management.

  • Typical Job Titles: Sales Representative, Account Executive, Territory Manager
  • Type of Cost: Salaries and Commissions

Operations Management

The purpose of operations management is to oversee the production of goods and services efficiently, ensuring quality and timely delivery. Responsibilities involve process optimization, supply chain management, and quality control.

  • Typical Job Titles: Operations Manager, Supply Chain Coordinator, Quality Control Supervisor
  • Type of Cost: Operational Expenses

References

  • Boone, L. E., & Kurtz, D. L. (2019). Contemporary Essentials for Business. Cengage Learning.
  • Daft, R. L. (2018). Management. Cengage Learning.
  • Kaplan, R. S., & Norton, D. P. (2008). The Strategy-Focused Organization: How Balanced Scorecard Companies Thrive in the New Business Environment. Harvard Business Press.
  • Mintzberg, H. (1994). The Rise and Fall of Strategic Planning. Harvard Business Review, 72(1), 107-114.
  • Wheelen, T. L., & Hunger, J. D. (2017). Strategic Management and Business Policy. Pearson.
  • Armstrong, M. (2020). Armstrong's Handbook of Human Resource Management Practice. Kogan Page.
  • Kotler, P., & Keller, K. L. (2016). Marketing Management. Pearson.
  • Porter, M. E. (1985). Competitive Advantage: Creating and Sustaining Superior Performance. Free Press.
  • Slack, N., Brandon-Jones, A., & Burgess, N. (2018). Operations Management. Pearson.
  • Brigham, E. F., & Houston, J. F. (2021). Fundamentals of Financial Management. Cengage Learning.

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