Understanding Work Duties in Business Management

1121 words 5 pages
There are many different fields in the business world. Business Management is the largest field in the corporate world. It takes responsibility, skill and determination to form a successful business of any type. There are numerous areas within a business that need the skills of management. Control of expenses, payroll, time management, and to initially raise capital to start a business all are areas in which management has to play an important role. Any businesses main objective is to gain a profit. A profit is the amount of money a business earns after all of it debts are paid. The field of management is essential to organize the business in such a way that a profit is made. The business start up is the most important piece of …show more content…

Salaries are based upon an employee's age, skill, knowledge of the business and experience in the profession. Payroll is the wages an employee receives for his or her work. Employees are often paid weekly, bi-weekly, or monthly. Full time positions normally consist of thirty-five to forty hours. Usually anything under forty hours a week is considered to be a part time position. Any excess time worked by an employee over their original forty hours a week is considered to be overtime. For this period of time workers are usually paid time and a half, which means they get paid their normal salary plus half of that salary for every hour they work. There are many factors, which affect the payroll of an employee. Many things are taken out of a workers check. These things include Social Security, Disability, Medicare, and State and Federal taxes. These factors can cause a fluctuation in the employees check each week. With today's modern banking systems, a workers check can be automatically deposited into their checking account without any handling of currency. As we all know money equals time. While managing a business, the manager needs to stay on top of this area and pay close attention to make sure that all employees are working the correct amount of time to make the most profit for the business. Time is equal to money because there are only a certain amount of

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