What Are Different Types Of Company Department?

In the US there are several different types of companies including:

• LLC
• Sole Proprietor
• General Partnership
• Corporation.

• LLC

LLC stands for Limited Liability Company. An LL can operate as a business without risking any personal assets. If a Limited Liability Company was to go broke and fold, your personal assets for example, your home, car etc would be safe. An LLC does not have shareholders.

• Sole Proprietor

This kind of business is a business started by an individual. Any debt or liabilities incurred are solely the proprietor's responsibility, to the extent of their personal belongings.

• General Partnership

A general partnership is started with two or more people. Each partner agrees to a percentage of the profits usually by a verbal or written agreement. Each partner is liable for his or her part of the tax paying.

• Corporation

A corporation is an organization that is limited by shareholders. If a corporation fails then the shareholders lose their investment.

Most large companies and corporations have departments within their business. The larger the company, the more staff is needed, so therefore the more departments they have. Each department is responsible for a specific job. Every company or corporation with reasonable size or scope would have all or a combination of the following:

• A Finance or Accounts Department, to look after their finances.
• A Human Resources department would look after payroll, sickness, annual leave and any other staff related issues.
• A sales department would be responsible for selling products or services.
• An IT department to deal with all computer running and support issues.

These are just a few different departments that you will find within an organization. The size and nature of a business will determine how many different types of departments there is within a company.

Departments are the small functions or the parts of the organizations which are responsible to carry out different tasks. The three primary or basic departments in an organization include manufacturing/production department, marketing department and finance department. Human Resource department is also getting very common in the large companies. There are different functions of different departments like marketing department controls the sales and promotions of the company. Finance department is responsible to deal with the financial and monetary matters of the company. Moreover, Human resource department look afters the people of the organizations and develop policies and regulations to hire, select and retain people.