The management team of the company includes managers in 7 different departments who are responsible for their individual departments with various organizational levels. The finance department of the organization is responsible for the financial accounting and taxation of the company whereas the cost accounting department will be responsible for management accounting and cost accounting functions of the company involving cost efficiency and price estimation. The cost and finance departments will work closely to determine the financial management operations of the company. The research and development department plays a very important role in a manufacturing company concerning technological products.
The rate of change in such industries is quite high and companies have to be completely updated on the trends and changes in the industry. The research and development department of Electro-Light will be responsible for extensive research required to keep up with the technological changes and explore new areas and products to gain a competitive advantage over other companies. The marketing and sales departments will work closely to achieve marketing and sales targets for the company. In the first year of business the marketing staff will be responsible for introducing the products of the newly established company in the local market and gradually increasing the scope to international markets. The company will motivate employees by offering attractive incentive programs, especially for the sales and marketing divisions in order to achieve maximum levels of sales.
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