Table of Contents
The tailored property services is a company that offers a clean and maintained exteriors of residential and offices premises. In today's era, the buildings are constructed and are polished with trendy looks. The exteriors of residential and office premises must look attractive as it shows the living standard and increases the reputation by attracting more people. Tailored Property Services is located in New Zealand and the people in New Zealand prefer apartments more than private houses and thus the private residents are more in the fir of buildings. It is not possible for people to clean their buildings may it be a residential or official place. So the main objective of the Tailored property services is to clean and maintain the beauty and structure of the building so that the buildings can be retained for a longer time (Reuther, 2016). The Tailored property services deal with the cleaning and maintenance of the building and their purpose is to maintain the buildings so that the buildings can look more graceful and stylish according to the trends and the area also looks beautiful. The Tailored property services follow a "divisional organizational structure" where the company operates according to the market, products, and also geographical locations. Tailored property services offer six products or services to their customers and they are "house washing, gutter cleaning, roof washing, water blasting, deck cleaning and window cleaning".
Organizational structure of Tailored property services
Every organization has a structure that they follow. The organizational structure helps the firm to acknowledge what should be done and how they work. The organizational structure is important for the firm as it shows the path that should be followed by the employees and managers to reach the organizational goals and objectives. The tailored property services follow a "Divisional organizational structure" where the price of the services changes depending on the "market factors and geographical factors'. In this organizational structure, the owners have complete control over the resources that are used for the services they provide. As the Tailored property services provide cleaning and maintenance of houses the products that are used can be adjusted by the owner and thus the price of the services will vary according to the building type and sizes. The geographical area also matters as the company would charge more if the building is located in a popular area or official marketplace than the building which is located in urban areas.
There are some other organizational structures as well such as Hierarchical organizational structure, Functional organizational structure, and many more. The hierarchical organizational structure helps the company to coordinate according to the hierarchy of the firm where a pyramid shape is formed and followed. The decisions are made by higher authorities and lower authorities have to follow them. In the case of the functional organizational structure, it shows the employees play an important role and the responsibility is divided on every level. However, the divisional organizational structure is better than the other two structures.
Identification of operations and accounting principles of Tailored Property services
The principles of operations are set by the upper authority according to the products and services that are offered by the Tailored property services. There are some principles of the firm which are followed and they are “Principles of Inventory Management, Principles of Operations Planning, Principles of Servicing Management, Principles of Distribution and Logistics and Principles of Managing Operations” (Glodek & Stawasz, 2017). The five principles of operations are always followed in Tailored property services as they help to run the business activities smoothly without any interruptions. Some of the principles of accounting in Tailored property services are followed are “Revenue Recognition Principle, Cost Principle, Matching Principle, Full Disclosure Principle, objectivity Principle and many more”.
Principles of operations used by Tailored Property services
The principles of the business are set according to the organizational structure and the nature of the business that the company deals with. The principles that are followed by tailored property services are mainly divided into five principles (Batchkova, Gocheva & Georgiev, 2017). The first is the “principle of inventory management” where the management of the inventory is managed by taking responsibility for low rate purchase of inventory and efficient use of the raw materials. Next comes the “principles of operations management” where the operations or activities of the firm are managed and monitored. The techniques that are to be used for doing the business activities are set according to these principles. Then comes the “Principles of servicing management” which helps the firm to facilitate the services according to the needs of the customers along with the efficient usage of resources of the firm. Next comes the “principles of distribution and logistics' ' which assists the firm to build and maintain healthy relations so that the contact can be increased and a larger distribution channel can be maintained (Kontogiannis, Leva & Balfe, 2017). Last comes the “principles of managing operations” where the overall monitoring of all the activities are done for the firm in order to make effective changes that are needed.
Pros: The principles used in the firm helps to make effective use of the resources that are available with the firm.
Cons: The principles that are followed by the firm are a bit difficult to follow on a regular basis or in emergency time as the contacts are not possible to maintain for bigger distribution every time.
Principles of accounting used by Tailored Property services
There are some accounting principles as well that need to be followed by the firms and the books of accounts can get more easier to handle. The accounting principles affect the business process as the profit margins are set by the firms and that needs to be attained and the cost reduction can be done with help of accounts (Yasyshena, 2019). The Principle of revenue recognition helps in recording the complete information and gathering information about the revenue which can be compared. Cost principles help to acknowledge cost and differentiate profit separately. Then matching principles help the firm to balance the liabilities and assets. The full disclosure principle helps in maintaining the transparency of the firm. Lastly, the objectivity principle guides for the firm to do the activities which can lead them to the main objectives of the firm.
Pros: The principles guide the firm to make accounting easier and more understandable.
Cons: Complete transparency is not possible every time as more detailed accounting can be time-consuming (Abednazari et al. 2018).
This study helps to identify the principles of operations of Tailored property services and also the accounting principles used in the business. The pros and cons have been illustrated in the study for deeper understanding and the effectiveness of the principles are also detailed above. The overall summary and organizational structure are also discussed in the study and also the organizational structure is compared with two other organizational structures.
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Batchkova, I. A., Gocheva, D. G., & Georgiev, D. (2017). IEC-62264 Based Quality Operations Management According to the Principles of Industrial Internet of Things. Industry 4.0, 2(3), 111-114. Retrieved from: https://stumejournals.com/journals/i4/2017/3/111.full.pdf [Retrieved on: 10.10.2020]
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Kontogiannis, T., Leva, M. C., & Balfe, N. (2017). Total safety management: principles, processes, and methods. Safety Science, 100, 128-142. Retrieved from: https://www.researchgate.net/profile/Tom_Kontogiannis/publication/308955985_Total_Safety_Management_Principles_processes_and_methods/links/5dc837a6458515143500674e/Total-Safety-Management-Principles-processes-and-methods.pdf [Retrieved on: 10.10.2020]
Reuther, K. (2016, September). An Evaluation of Shared Entrepreneurship and Organisational Structures to Increase the Innovative Capacity. In European Conference on Innovation and Entrepreneurship (p. 1029). Academic Conferences International Limited. Retrieved from: https://www.researchgate.net/profile/Francesca_Cesaroni/publication/308606224_She_is_the_Founder_Who_is_the_Emotional_Leader/links/57e7f02d08ae9e5e4558be5e.pdf#page=1055 [Retrieved on: 10.10.2020]
Yasyshena, V. V. (2019). Principles of accounting policies of intangible assets. INNOVATIVE ECONOMY, (3-4), 156-162. Retrieved from: http://inneco.org/index.php/innecoen/article/viewFile/144/146 [Retrieved on: 10.10.2020]
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