In a lot of ways a company is like a complex organism which is made up of numerous parts performing different functions. Learn even more about this here.
Any possible firm you can think of earns a revenue by selling a certain good or service. In an effort to have a product that will bring them the said profit a lot of thought has to go into building one. The research and development department in a company is an example of department that is concerned with developing brand-new products as well as enhancing existing ones. It's among the most significant aspects of any corporate organization as it permits them to provide a product that consumers want in the most effective and inexpensive way possible. Absolutely all companies engage in the R&D process for their merchandise. Some companies outsource these activities to specialised businesses, while others have specialised R&D departments that work towards building their products. Some examples of companies that have their own R&D departments feature Proctor and Gamble’s research and development department. R&D is frequently the very first step in the development procedure of a product, and it is one that lets it to stay on top of its competition.
When we look at the different departments in a company hierarchy, we will find the board of directors right at the top of that hierarchy. This board is composed of several members and is chaired by the president of the board, who have a personal interest in how the business is run, but usually don't have a direct impact on how the business is run on the every day basis. Examples of such bodies include the Telecom Italia board. The board’s key objective is to guarantee the long-term prosperity of the organisation by jointly directing the affairs of a business. The board meets on a frequent basis in order to examine and vote on significant matters that impact the future of the firm.
A company uses many different forms of sources in an effort to create a certain product, and arguably one of its most important tools are its staff members. This is the reasons why all companies have a special department to control this resource called the human resource department, like the National Geographic Society's HR department. This department is concerned with many different tasks, which include recruitment and selection of new employees; training and development of existing workers; employee relations and grievance procedures; wellness and safety measure to ensure that employees work in a safe environment. In the recent years the HR function have gained an especially important role in the organizational structure of a company, as there is a constantly growing need to recruit workers that are especially fitted for the job and the general work environment of that certain business.