BUS FPX 3007 Assessment 1 Developing a Business

BUS FPX 3007 Assessment 1 Developing a Business

Introduction

Amazon.com Inc. had gone through a century of start from a mere online bookstore and its establishment has ascended into a global behemoth that encompasses various aspects of the technology industry. The tech sector is mobile, cloud based, and focused on artificial intelligence (AI). It is the pioneer of digital technologies in the U.S. and a leading player in data processing and hosting services worldwide (Kazak’tyzik, 2022). Along with technology, Amazon relishes business operation, as the latter forms the core principle in Amazon’s competitive strength. The Amazon Business Reshape 2022 Report states that efficient and socially responsible procurement strategies are of the utmost importance. At the same time, supply chain flexibility defines the purchasing pattern of the company (Amazon.com, Inc. 2022). As Amazon’s financial success is interconnected with the well-being of small and medium –sized businesses that are a part of its eCommerce platform (Amazon, 2021), the success of the eCommerce platform’s functioning greatly depends on those businesses.

Amazon’s uncontested place among the markets allows it to take the lead in roadshows to the extent of logistics and operations management (Warrier, Guiying, et al., 2021). The ability of the company to make diverse investments along with its triumphs gives staff a chance to learn much more than an ordinary working environment would give them. Listed opportunities for professional growth are internships in the office of the accounting and finance department AND operations management that do not only enrich but also, further enhance knowledge and professional skills.

Accounting and Finance

The connection between accounting and finance is severely close within a business, central for the performance of tasks and the choice of strategies which affect the organizational finances (Razak, 2021). These sections are key in assessing the financial advantages as well as the liabilities of different organizational activities including funding various projects, growing existing facilities, training staff, and updating business software (Renehan, 2020). They work hand in hand with the pertinent financial regulatory authorities by complying with a necessary and regulated type of accurate financial reporting. Amazon deploys its vast network of third-parties partners for infrastructure management EVS in billing and collecting. It is these internal providers who are at the forefront of providing critical information to the high-level decision makers of the corporation on a basis of finance and accounting functions. In the context of the sector, the information produced is important evaluation aspects of business performance, not just the unrestrictedly financial areas like outflow and inflow as well as collection of receivables and accounts management which are the fundamental accounting tasks of financial assessment. As seen in Amazon’s strategy of operating on low prices, the accounting and finance divisions are the pillars that secure better revenue generation and profitability. It is this relationship between departments that help the organization in achieving and making activities, which support the company’s goal (Agrawal, Eklund, Waite & Woodcock, 2020).
 

Operations Management BUS FPX 3007 Assessment 1 Developing a Business


Operations Management encompasses a broad range of business activities including supply chain management, logistics, and either manufacturing or providing services. It stands as the backbone of a business, integrating all essential operational elements (Busellato et al., 2021). This area is crucial for an organization’s ability to adapt to global market trends and manage disruptions caused by unforeseen circumstances. At Amazon.com, operations management enhances the company’s eCommerce operations by effectively connecting retailers to consumers, central to its retail activities through strategic implementation to achieve corporate objectives.

Amazon’s strategic approach to operations management adds long-term value and strengthens relationships with upstream supply chain partners and downstream clients (Prilepok et al., 2022).

Internship in Billing and Collection


The billing and collection functions, nestled within the accounting and finance departments, manage financial transactions and are fundamental to precise financial reporting as per accounting standards (Hermanson et al., 2011). My understanding of basic accounting practices, including invoicing, client management, and ledger maintenance, aligns with the demands of these roles. Efficient payment collections from customers are crucial for accurate financial reporting, impacting the organization’s profitability within a reporting period. Inefficiencies in this area can lead to significant discrepancies in reported revenue and income, skewing the financial performance outlook.

Internship in Operations Management


At Amazon, supply chain initiatives are integral to the goals of operations management, significantly influenced by modern technologies (Gu et al., 2021). An internship in this domain offers a chance to gain insight into the company’s innovative strategies, particularly in integrating supply chain activities with logistics (Bag et al., 2020). While my basic understanding of inventory management aligns with the accounting and finance functions, further knowledge in procurement, warehouse and logistics management, and vendor coordination is necessary for a comprehensive skill set in operations management.

Conclusion BUS FPX 3007 Assessment 1 Developing a Business


The symbiotic relationship among different functional areas within a business, such as accounting and finance and operations management, underpins the organization’s financial and operational objectives. Through effective billing and collection activities, Amazon.com can monitor and assess its financial health, guiding its continued growth. Operations management supports the company’s strategic planning and execution, laying the groundwork for achieving business goals. Among the opportunities presented, an internship in the accounting and finance department resonates most with my skills, particularly in billing and collections, playing a vital role in Amazon’s financial management and overall retail success.

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