In the simplest terms, business development can be summarized as the ideas, initiatives and activities aimed towards making a business better. This includes increasing revenues, growth in terms of business expansion, increasing profitability by building strategic partnerships, and making strategic business decisions. Business development activities extend across different departments, including sales, marketing, project management, product management, budget management and vendor management. Networking, negotiations, partnerships, and cost-savings efforts are also involved. All of these different departments and activities are driven by and aligned to the business development goals.
Let’s understand how this business development goal can be tied to the various functions:
Crisis Management is a process that requires special expertise, tries to anticipate events that can disrupt important relationships for the future. “In the event of a crisis that can be encountered, activities to take and apply the necessary measures to capture and evaluate crisis signals and to overcome the crisis situation with minimum losses” ”various pressures and crises that threaten the society, environment, employees, production process, services, and the basic product of the business are continuously evaluated. a process ” WHAT IS A CRISIS: The state of uncertainty and change in the environment constantly confronts businesses with unexpected dangers or opportunities. The ability of businesses to survive depends on their protection from these hazards or their ability to take advantage of opportunities. Whether it is a danger or an opportunity, unexpected and undetected events, businesses can force unplanned change and even lead to crisis. However, the crisis does not always include a bad and negative situation for the business. • The word wei-ji, which means crisis in Chinese, is a combination of the words DANGER and OPPORTUNITY. So; we can define the crisis as a turning point.
The main purpose of cost accounting is to determine the manufacturing cost of each product of the company. The cost of the proudct is then used in determination of optimum selling prices. The cost accounting also helps to determine what the present cost is and what it should be in future in case of market driven prices. Cost Accountanting is a professional who tries to answer questions related to production or operations by undertaking an analysis of various costs that are incurred by a business. The role of cost accounting : - Identifying, collecting, measuring , analyzing , and reporting information that will help managers in their planning, controlling, and decision making activities to achieve the objectives of the organization.
Risk Management has become one of the most important factors in the developing business world. In this process, it has become important to identify and control risks that may arise from the deficiencies of the internal control system as well as the efficient and productive use of business resources. Today, the internal audit functions of institutions and regulatory agencies are also aware of this requirement and are developing actions in this regard. On the other hand, due to risk management requires specific expertise and differs structurally from business processes, specialists who are not specialized in this field need to be informed about basic risk concepts and audit approach before starting such audit work, and they must see how they can use their risk management experience during internal audits.
The primary duty of Management Accounting is to help management in taking correct policy- decisions and improving the efficiency of operations.. That requires special expertise. Management Accounting management process implies the four basic functions of:
Management accounting plays a vital role in these managerial functions performed by managers. It helps in keeping a track of available resources. Unlike financial accounting, management accounting produces weekly or monthly reports that cover internal issues. These reports include various stats, available monetary fund, returns generated on sales, piled up orders, amount of payment to be generated, remaining debts, stats of raw materials, etc.
Productivity is the measurement of how well an institution uses its resources in the production of goods and services. In order to talk about an efficient activity with efficiency that we can define as the power of producing useful output from production factors, it is necessary to obtain maximum output with a certain input or a certain output with minimum input. Productivity control is in this context a form of control for determining the level that is or should be between resources (inputs) and goods and services (outputs). We are doing the following activities within the scope of the Efficiency Audit service we provide as AtoZ: Determination of the main activities of the business Determination of the financial performance of its main activities Analysis of sales of goods and services produced, cost and profit analysis per product / service Efficiency review at production companies Actual and record inventory studies on liquid assets Comparison of sectoral data and firm data (Analysis of sector and firm data in years in terms of profitability, turnover, number of employees, processes) Budget analysis (Analysis of estimated and realized budget, analysis of deviations from targets) Auditing of internal business processes (Your analysis of procurement, warehouse, accounting, finance, human resources etc. processes) Preparing a Special Purpose Report including evaluations, opinions and suggestions to management as a result of the audits.