The Top Core Business Functions to Focus on Moving Forward

Running a business, either in a manager or owner capacity, is a multi-faceted role which involves a plethora of different roles and often time-consuming duties and there is no doubt that a strong team behind you is crucial.

As there are so many different business functions, it can sometimes be somewhat tricky to prioritize which ones to concentrate on, both from a financial standpoint and a time-investment one. So, with that being said, here are the top core business functions to focus on as you continue to move your business forward.

1. Your Production Function

One of the most fundamental departments within a company of them all, whether your business centers around the provision of products, services, or indeed a combination of them both, is that of the production function and associated processes.

Essentially summarised as the devising, developing, and manufacturing of services and goods, thorough production function depends on highly organized and methodical arranging of money, people, and materials. In numerous businesses, especially those in the construction and technological industries, the entirety of the production processes of a company are mechanized.

2. Your Marketing Department

Another key aspect of a successful and expanding business which is guaranteed longevity and high-profit margins is that of the sales and marketing department.

Paying particular attention to marketing, especially that of digital marketing, if you do not currently have at least a few team members who are not only qualified but highly experienced in digital marketing, outsourcing may well be your best option.

Outsourcing your digital marketing strategies and management to a reputable and established company with years of expertise and experience, such as Web Presence, will vastly improve not only how you engage in digital marketing, but crucially your results too.

3. Your Finance Function

More vital than most, the core financial function of a company is possibly the most crucial of them all and the finance department of an organization involves the following responsibilities and roles:

• The provision of financial advice to senior managers to aid decisions
• The thorough management of the whole investment portfolio
• Sourcing various means and ways of long-term financing
• The daily management of the cash flow of the company
• Turning raw accounting data and information into workable financial statements
• The management of company taxes, fines, and debts
• Preparing and presenting company forecasts and budgets to shareholders
• The bookkeeping and recording of all transactions made to and from the business

4. Your Human Resources Department

For any company, whichever industry it is based in and regardless of the size and scope of the business, if there are even just a few employees, then a functioning human resources department is essential.

A happy, contented, motivated and adequately trained employee is far more productive, efficient, and generally substantially more likely to stay and grow with your company and amongst other factors, a strong and effective HR department is the way to do this. Without one, a business may find itself with issues further down the line.