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    DAY 2 Report Org and Manage

    Uploaded by

    meliodas.sinwrath28
    org manage

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    © All Rights Reserved
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    DAY 2 Report Org and Manage

    Uploaded by

    meliodas.sinwrath28
    2 views4 pages
    org manage

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    DAY 2 report org and manage

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    © © All Rights Reserved

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    org manage

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    2 views4 pages

    DAY 2 Report Org and Manage

    Uploaded by

    meliodas.sinwrath28
    org manage

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
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    Applying the concept and nature of different control methods

    and techniques in accounting and marketing

    In Accounting:
    1. Budgetary Control:
    o Application: Develop and monitor budgets for different departments
    or projects. Compare actual expenditures to budgeted amounts to
    ensure financial resources are used effectively.
    o Nature: Helps in planning, forecasting, and preventing overspending.
    Regular variance analysis can identify deviations and corrective
    actions.
    2. Internal Controls:
    o Application: Implement procedures like segregation of duties,
    reconciliations, and approval workflows to safeguard assets and
    ensure accurate financial reporting.
    o Nature: Focuses on preventing fraud and errors, ensuring data
    integrity, and complying with regulations.
    3. Performance Metrics:
    o Application: Use financial ratios (e.g., liquidity ratios, profitability
    ratios) to assess the financial health of the organization and the
    efficiency of accounting practices.
    o Nature: Provides insights into financial performance and helps in
    decision-making.
    4. Audits:
    o Application: Conduct internal or external audits to review financial
    records and ensure adherence to accounting standards and policies.
    o Nature: Ensures accuracy, compliance, and reliability of financial
    statements.
    5. Cost Control:
    o Application: Monitor and manage costs through techniques like
    standard costing and cost-volume-profit analysis to optimize
    expenditures.
    o Nature: Aims to enhance profitability by controlling and reducing
    unnecessary costs.
    In Marketing:
    1. Sales Tracking:
    o Application: Monitor sales performance through metrics like sales
    growth, conversion rates, and customer acquisition costs. Use CRM
    systems to track interactions and outcomes.
    o Nature: Helps in assessing the effectiveness of marketing strategies
    and identifying areas for improvement.
    2. Marketing Analytics:
    o Application: Use data analytics tools to analyze marketing
    campaigns, customer behavior, and market trends. Metrics like ROI,
    customer lifetime value (CLV), and click-through rates (CTR) are
    crucial.
    o Nature: Provides insights into campaign performance and customer
    engagement, guiding strategic adjustments.
    3. Budget Control:
    o Application: Set and manage marketing budgets for various
    campaigns and initiatives. Monitor spending against the budget to
    ensure resources are allocated efficiently.
    o Nature: Ensures that marketing activities are cost-effective and
    aligned with financial goals.
    4. Performance Reviews:
    o Application: Regularly review the outcomes of marketing campaigns
    and activities against predefined objectives and KPIs (Key
    Performance Indicators).
    o Nature: Facilitates continuous improvement by analyzing successes
    and failures.
    5. Market Research:
    o Application: Conduct surveys, focus groups, and competitive analysis
    to gather insights on market trends, customer preferences, and
    competitive positioning.
    o Nature: Informs strategic decisions and helps tailor marketing efforts
    to meet market demands.
    Nature and Role
    HUMAN RESOURCE MANAGEMENT FUNCTIONS OR ROLES OF HUMAN
    MANAGEMENT
    HUMAN RESOURCE MANAGEMENT is 1. Conducting Job Analysis
    the process of attracting, training, 2. Planning Labor and recruiting
    developing, and maintaining an excellent 3. Selecting candidates for the job
    workforce. 4. Orienting and training new employees
    5. Managing compensation or pay.
    HUMAN RESOURCE MANAGEMENT Is 6. Providing incentives and benefits
    the process of planning, organizing, 7. Evaluating employee’s performance
    staffing, directing, controlling the 8. Communicating 9. Developing
    human/personnel activities. employees
    10. Building employee commitment
    HUMAN RESOURCE also known as 11. Providing good working conditions
    human capital, drive the performance of 12. Handling grievances and industrial
    organization s along with other resources. relations

    HUMAN RESOURCE MANAGERS –


    recruits, conducts interviews, and
    manage benefits based on company
    policies.

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