i. Functions of Administration Department

1. Maintains employment records for each employee.
2. Arranges for the training of existing and new employees.
3. Deals with matters such as recruitment, selection, and placement of new employees.
4. Handles redundancies and disciplinary matters.
5. Manages claims of unfair dismissal by employees who have been dismissed.
6. Ensures compliance with regulations.
7. Oversees facilities management.
8. Arranges for insurance and other legal requirements.
9. Secures the buildings and manages motor vehicles.
10. Ensures smooth operations within the business.

ii. Functions of Finance Department

1. Manages the company’s finances.
2. Ensures that funds are available to pay employees, lenders, and suppliers on time.
3. Provides financing for new investments.
4. Manages the company’s cash flow.
5. Secures new funds from the financial markets.
6. Negotiates bank loans when needed.
7. Invests surplus cash.
8. Facilitates transactions for purchasing foreign currency.