How to Increase Your Company’s Revenue or Gross Income – Part 26

Welcome to LeadEtics® Consults Actionable Business Advice Series.

Let us remind ourselves that knowing the standard technology of the parts of the organization is key to creating and having of an expanding, productive, and prosperous business, and abide the injunction is one sure success factor for our businesses and organizations.

Last week we discussed the fifth (5th) 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 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) The Communication lines, 4) The Communication Center System, 5) The Basket System, 6) Dispatch Forms, 7) Routing forms, 8) Inspection actions, 9) Promotion actions, 10) The Central filing system, 11) Customers and visitors handling, 12) Selling and sales actions, 13) Treasury Action of Collecting Income, 14) Treasury Action of Paying Disbursement, and 15) Managing Inventory or Store.

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

1. Generating and Reporting Financial Reports
Generating and reporting reports of the financial activities of the business is a vital activity. the company and its management depend on the financial management tool to effectively plan for the funding and financing of projects, etc., allocate resources to diverse organs of the company to affect their functions, and generally steer the business toward profitability, sustainability, and resilience. Financial reporting is also vital to satisfy tax authorities in the filing and remittance of taxes.

2. Handling raw materials or inputs
The handling of raw materials or inputs is vital for the production of the product/s and or service/s of the company, and other management and administrative needs. Organs add value to inputs or raw materials received by them and subsequently add value with their vital knowledge, know-how, skill, and with or without equipment and tools, etc.

These graduating value-added aims to produce and deliver to the customers or clients valuable final product/s or service/s the company promised. It is this valuable final product/s or service/s that the company exchanges for money or other valuables with the company with its customers or clients.

3. Training personnel
The training of all the personnel of the company is another part of an organization. The utilization of Hat Packs and other training materials, internship, and mentoring tools enable employees and the company to properly handle and change the raw materials or inputs received by them, either from outside the company or from within it, into their next or the valuable final product or service the business desires to exchange with its publics.

Without training, mentoring, and internships, especially those based on Hatting Technology, the company will remain small, have a myriad of problems that may seem insurmountable, and eventually collapse.

Conclusion

In conclusion, to develop and manage a full organization that has all its organs or parts in harmonious function, we must understand the necessity of implementing the parts of an organization as enumerated in the last several posts to date. If we desire to have, operate, and enjoy the fruits of a prosperous and expanding organization, this is our surefire route.

Let us continue to strive to thrive!

Babatunde Odutola
LeadEtics® Consults