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Finance could be the costs of running the business. Wilberforce would use finance in a day to day basis, they may use it to compare their profits and losses from one year to another. Such as the efficiency the employee is working at and the training needs and projections for future employment.
Wilberforce may use this to comprehend their staff turnover per year. As well as this marketing also tells us about the market the company operates within.
Wilberforce use marketing by promoting themselves by sponsoring certain things such as busses or football teams. It also manages the human resources with.
Wilberforce may use this for example the IT department deciding upon how much they can spend on computer upgrades per year. Helps you decide how well a business is doing, it is also good for planning for the future. It is the making of products that the business buys from the company and sells on usually for a profit.
Wilberforce College have a business admin keep records on their students and staff and also work out where money should be spent and how much should be spent per quarter. Some of the key government publications include the monthly digest of statistics include the Regional trends and Labour market trends.
Wilberforce College use the annual census to predict the growth of the amount of students possibly attending the college in say 4 years time, they do this by finding the population of Children around the age of They can act as pressure groups to initiate positive change for their industry.
They also publish trade journals, which are a very useful resource. These are published by leaders in industries for the people working in that industry.
Wilberforce College are in a trade group with other colleges which can share methods of teaching to achieve the best grades possible in all colleges. There are many market research agencies where lists may be purchased by businesses that wish to target these customers via direct mail.
Wilberforce College use records from local schools to attract new students that are leave school and are perhaps looking to go into further education.
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They always need to ask themselves whether it is accurate, relevant and truthful, and whether there is a bias. In Wilberforce College they have to check for reliability within the text books they buy for their students.
A good business always conducts research to find out about their markets, customers and views of their staff. Wilberforce College may research various ways to enhance their teaching styles. They also may research the best methods of teaching various types of students so they can therefore get the full potential out of students.
Information is required so the business know a variety of things such as, How their markets are developing, how labour markets are changing, what the economy is doing and what new laws are being passed that might affect the way they operate. All this information helps organisations to make accurate decisions based upon having full knowledge.
Incorrect decisions are likely to be the result of inadequate information. This may be helpful for Wilberforce as when there is a rescission and unemployment rates are high, people are my inclined to stay in further education to boost their chances of been able to get a job.
But developments need to be based on informed decisions. A business will not launch a new product.
This is quick development and this therefore attracted more people to Wilberforce then previously without the Salon. How to cite this page Choose cite format:For example, a company's sales department is a common functional area, and the staff in this area would all be focused on selling the company's products.
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They use the following piece of information such as Web-Based communication. Show More.
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Wilberforce may use this for example the IT department deciding upon how much they can spend on computer upgrades per year.
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