How to Increase Your Company’s Revenue or Gross Income – Part 25

Welcome to LeadEtics® Consults Actionable Business Advice Series.

Remember that knowing the standard technology or know-how of the parts of the organization is key to creating and having an expanding, productive, and prosperous business. To imbibe and abide by these injunctions is one sure success factor for your businesses and organizations.

Last week we discussed the fourth (4th) of the three (3) of the twenty-nine (29) aspects of an organization that require attention and organizing from management for an organization to exist in fact, and thrive.

We have thus discussed nine of the parts of an organization, which are: 1) The Organizing board or corporate structure, 2) The Personnel hat, 3) Communication lines, 4) The Communication Center System, 5) The Basket System, 6) The Dispatch Forms, 7) Routing forms, 8) Inspection actions, 9) Promotion actions, 10) Central filing system, 11) Customers and visitors handling, and 12) Selling and sales actions.

Today we will delve into the next three, which are:

1. Treasury Action of Collecting Payment from the selling and sales actions that put the products or services of the company into the hands of customers or clients for the exchange of monies etc.; the collecting action of which is the treasury action of collecting income.

This action is usually confused with the accounting functions. Some even merge this treasury function with their Admin department.

Well, there are Treasury functions that an organization must have to effectively receive and disburse monies, independent from Accounting and Administration functions.

2. Treasury Action of Paying Disbursement, bills payments to suppliers of goods, payments of salaries and wages, payments for utilities, taxes, and services that enable the company to have the means with which to produce, promote, and deliver its products or services, and generally effectively manage the business.

3. Managing Inventory or Store that includes the equipment, tools, stationeries, and sundry materials that have been purchased or otherwise acquired for the effective administration and management of the business, ensuring their values, importance, care, maintenance, arrangement, record, accounting, allocation, receipt, and general management.

Conclusion

In conclusion, we must understand that the necessity of implementing the parts of an organization as enumerated in the last four posts is crucial, that is if we desire to have, operate, and enjoy the fruits of a prosperous and expanding organization.

Let us continue to strive to thrive!

Babatunde Odutola
LeadEtics® Consults