Business System in Gymshark Assignment
11 Pages2717 Words362 Views
Added on 2020-12-30
Business System in Gymshark Assignment
Added on 2020-12-30
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Table of ContentsINTRODUCTION...........................................................................................................................31 Functional areas of business and hierarchy of management...............................................32 Communication central to leadership and management and effective interdepartmentalcommunication.......................................................................................................................53 Current drivers of globalization and its impact on business................................................74 Contrast and comparison of styles of leadership and the best style which is suitable foeglobal organisation.................................................................................................................8CONCLUSION................................................................................................................................9REFERENCES .............................................................................................................................10
INTRODUCTIONA business refers an organisation which main work is to produce and sells goods andservices for providing services to people in order to earn money. Gymshark is a fitnessaccessories and apparel brand manufacturer which is supported by millions of social mediafollowers. It is a private limited company which is based in UK. This report shows aboutfunctional areas of business and their management system which it uses for efficient work inorder to accomplish teams goals (Crane and Matten, 2016). This study also shows the importanceof interdepartmental communication which help in reducing staff turnover and increasing sales.Leadership style supports globalization which affect business in positive manner and negativemanner.1 Functional areas of business and hierarchy of managementGymshark is an apparel industry which owns the high street clothing retailer like bottomleggings, hoodies, Burton, accessories etc. It has more than 500 outlets in UK It provides the bestquality of Gym clothes to their customers. There are some functional departments in apparelindustryHuman resources: The main important task for all type of company is recruiting andselecting the best candidate for the company. This task is done by the human resourcedepartment. The main aim of HR department for Physic apparel company is to recruit rightskills, experience and qualified employee which is suitable for the given job. Aside fromrecruiting, HR maintains employees relationship and provide training and learning programs etc. Accounting and finance : Finance is considered as lifeblood of the company. It isresponsible for all the other functional departments. Finance and accounting department has tofind out about account receivables and accounts payable. Physic apparel use this department forbudgeting, forecasting and other processes (Feng, Morgan and Rego, 2015).Purchasing department: Purchasing department in Physic apparel company is formedfor buying necessary materials which is required for manufacturing. It focuses on purchasing rawmaterials for making finished goods.Marketing and advertising: Every company wants to grow their business and to gainmore customers. The work of gaining customers and increasing sales is done by the marketingand advertising department. The main aim of this department is to promote and develop businessof the company.
Production department: It includes those processes which turns input into outputs. Thisdepartment makes good quality of products which can be sold to customers. The main objectiveof this department is to make products which can satisfy customers demand and needs.Operations: Operation department oversees designing and controlling process ofproduction. It ensures mangers that business is running properly and efficiently. Aim of thisdepartment is to deliver the highest quality products to customers.Sales department: Sales department plays important role for the success of a companybecause this department is responsible for retaining customers making good sales etc. The mainaim and function of this department is to maintain relationship with customers and influencethem for purchasing their products.Hierarchy of managementHierarchy refers the arrangements of functional departments of individuals within anorganisation which depends upon power, job function and status. By hierarchical structure,employees can recognize different levels of leadership, authority and responsibility within anorganisation.This structure is used by Gymshark company because it becomes easy for them toorganise and manage (Khan and et.al., 2015).CEOChief executive officer of Physic apparel makes the overall and all the bog decisionwhich are based on the direction and action. It is responsible for the success of the company andincrease revenue by making the business profitable. The main aim of CEO is to keep thebusiness cash flow positive and invest this in growth for proving business's success.President and vice presidentPhysic apparel company have various departments and presidents and vice presidentsplay their role for each department. They control on these departments Department headsHead of department lead and develop departments to analyse and ensure that alldepartments are doing better and achieving higher possible standards of excellence in all theiractivities. They are responsible for research, people management, financial management andquality management.Supervision, leaders and managers
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