Case Study Physics Today's Budget

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Physics Today Magazine's Budget
Budget is decided each financial year with the following stages:

1) Randy Nanna (Publisher) identifies Physics Today's budgetary needs
2) He then discusses this with the Editor-in-Chief, Production Manager, Marketing Manager and Online Manager
3) If all concur, the financial plan is then presented to American Institute of Physics committee.
4) Ultimate decision is then made by the AIP committee as to whether full or part funding is provided for the magazine.

Structure and functions of Physics Today

Physics Today operates on a small organisational structure. The magazine's team is each mandated with running a different function of the publishing business.

Randy Nanna is the publisher, charged with overall …show more content…

She is tasked with overseeing all of the day-to-day finance operations for Physics Today. This role includes management of financial reports, managing budget for the production department and liaising with the sales team regarding advertising payments.

Rita Wehrenberg is responsible for art and production. This function seeks to improve the design of the Website and magazine. Producing better quality services, leads to an increase in direct sales. This then improves Physics Today's bargaining power with advertisers by boasting a wide readership.

Tonya Gary works to control the administrative function for Physics Today, acting as a link between all functions of the company. This role involves dealing with enquiries/complaints and sending out important updates to all staff members. Without this function, employees would not be kept in the loop regarding business operations and customer complaints would not be resolved.

The Sales function is integral to business operations. Representatives endeavour to sell advertising space in Physics Today Magazine as well as promoting the advertisements available on their Website. The sales methods used may include newsletters, emails, telephone sales and travelling to see potential …show more content…

This HR function involves arranging training with outside training providers or designing and running internal training courses. These can include Health and Safety, Customer Services and team leadership training to name a few. New employees will receive induction training, which will help them to obtain information on the organisation they will be working for as well as learning important aspects of their job roles. Analysis of training course attendance, evaluations and feedback will be performed to recommend actions to improve future training. Training and development can lead to improved profitability for an organisation and assist employees to obtain new and enhanced

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