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All businesses combine "Factors Of production" to produce HBOS's services. Combining these factors means the business has to carry out a range of functions.
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All businesses combine "Factors Of production" to produce HBOS's services. Combining these factors means the business has to carry out a range of functions. The main five departments within the organisation are: * Finance Finance is an important function in the organisation of HBOS, because those who work in the financial department keep track of the money coming in and going out. All functional managers are concerned with the financial of their own areas, not just at budget preparation and agreement stage, but also day-today checking whether they are meeting their budget forecasts. Staff in the financial department is responsible for controlling the money, they will advise managers when the company is over-spending. This means cutting back on expenditure. The effect of this could be that the new equipment can not purchased, the sales department may have to stop a proposed advertising campaign, production may have to reduce overtime, human resources may be...
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