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The management process is a very important part of the organization(Thukaram,et al.2020). So, the organization must need to make some steps or processes to develop this management procedure. The organization should need to record and report all the finance related information of the organization. This management process can set a method which helps in the application of the analytical tools in the business and also the use of the financial tools. Its main motto is to solve the practical problems of the business so that the organization can make them more powerful and they do not face any kind of issues in it. Here the “Playwell ltd” is chosen for this management which is a toy company and it is involved in the making of creative toys which can attract children. So, they also need to prepare some steps which can develop the process of the management(R.M.,et al.2020).
This company’s main motto is to develop the education of the children because the children are the future generation of the society. This is a great step which is developed through this company. The company also focuses on the proper development of the responsibilities because it is important for the businessman. The management team has a main goal to achieve the huge profit from their products so that they can increase the business. This company always tries to give the best quality product and services among the customers so that they are able to catch the attention of the people(Jatmiko,et al.2019). The “playwell ltd” company is continuously trying to make some innovative futuristic plans which have the ability to make them famous in the business world and it is obviously about the study toy(Prawoto,et al.2019).
(Source: https://nulled.si/Thread-PHP-Accounting-And-Financial-Management-System )
EU safety regulations
This “playwell ltd” company strictly follows the safety regulations of the EU which is a good sight of it. So, all parents feel safe to use this company’s products for their child. These regulations make a suitable business environment for the people as well as organization(Jones,et al.2018). It indicates about the safety product placement of the company into the market which can not hamper the health of people. This regulation includes that the company must inform the customers if there is any issue about their product. According to this regulation, the product should be treasable for the company so that the company can remove any damage found there. The main motto of this regulation as well as the organization is to reduce the risks of the people(Finkler,et al.2018).
This company makes different types of toys related to the study of children. They implement this idea as the entertaining purpose of the children and by this they can be able to make huge profit in it. In the present situation all parents need some interesting things to develop their child's education entertainingly. So, they are very much attracted by the product of this company. This company can make the “alphabet island” game which has the ability to teach small children interestingly(Smith,et al.2018). It is new to teach alphabets to the child. They make the “lego number train” which develops the eyequey of the child. This company is very much known for the “pretend and play doctor kit” game which is a creative and new invention of this company. The “shape sorting cube” is another famous game created by this company (Smith,et al.2018).
This company follows some safety regulations to give the people safe and good products. So, all parents feel safe to use this company’s products for their child. These regulations make a suitable business environment for the people as well as organization. The employees of this company securely safe all the products in the safe place. They always use chemicals which are safe for the child and develop the sustainability of the product(Ameen,et al.2018). They totally avoid the plastic wrapping and packaging process as it can harm the children. They also cut the sharp parts of the toys so that the product becomes good looking and reduces the danger of the children.
Waste reduction and management
The company has focused on the waste reduction and the management process so that this company can be able to recycle the product wastage. They want to make new toys from these and save their cost of business. This is a very good process. It can reduce the waste effect on the environment. So, it is also suitable for the environment. They take some methods to manage this process and also make some new processes to reduce the waste(Ahmed,et al.2018).
The company has a very good motto for the children. Besides the making of toys, this company has the great step in reudcing the child labour. From their profit, they make an organization for the child laborers in which they give education to poor children and give meals so that they cannot work at this child level. In the gap of three months, they reach the uneducated location and give some speech about the matter and also distribute some study toys. This organization also arranges some champagne for the development of the education of children(Alkaraan,et al.2018). This organization gets some success in this work and try to proceed their work elaborately.
The “playwell” company believes that the distribution of the fair wage can help the employees as well as the company in other ways. So, they make a good team which can look into this matter properly and report to the higher authorities if there is any issue regarding the salary. Because it can lower the image of the company. So, it needs to be resolved quickly. The distribution of the fair wage can make the employees happy and they work their best for the increment of this company(.F.,et al.2018). It is also helpful for the company to make a positive image among the people.
The management process of finance and accounts of a company is a very essential part to develop the company at a huge level(Saputra,et al.2018). So, the organization must make some steps or processes to develop this management procedure. The company becomes more profitable by the proper management of these things. The company must follow some accurate steps to make this process more accurate. The company needs to accept some new methods or technologies to develop the management process.
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