The finance department Essay Example For Students

The finance department Essay Not only does this synergetic relationship benefit both companies as they work together to advertise both brands, but Kiss as an established radio station gives the event more credibility and visa versa. Air Nightclub Air, situated in a former warehouse in Birmingham is considered as Angel Music Groups worldwide flagship venue. Since its opening in 2000, Air has set the bench mark as the Midlands and possibly the UKs most popular electronic dance music nightclub. The 1,650 capacity venue includes; three floors which host some of the best dance DJs in Europe as well as catering for corporate events and private bookings. Air is more popularly known as the home to one of the best electronic dance brands Godskitchen which we will briefly talk about later on. The ownership of Air nightclub through vertical integration has significant benefits and a great impact on the company and its position in the industry. The more obvious benefits that firstly come to mind involve costs. Owning the venue means that they can greatly reduce costs when producing events such as the popular brand Godskitchen at Air, thus also greatly increasing profit. The other benefit that comes to mind involves the importance of vertical integration in relation to corporate strategy issues. Vertical integration can greatly reduce uncertainties, therefore making further investment a more attractive decision in hopes to increase profits and growth. The main reason for this is because Angel Music Group has now obtained greater control over the whole production chain and improved chances of monopolising the market. Air nightclub is also sponsored by Bacardi, VK and Corona Extra, in a deal which sees Angel Music Group gain economic capital and these drink brands the chance to profile their brand at Air venues. It also provides them the opportunity to be associated with the world biggest dance brand. Not only does this financially benefit Angel Music Group but brands such as Bacardi provide interesting features that enhance events and they provide great promotion as they push events through their networks. Godskitchen Godskitchen is a dance music night that debuted in the mid 90s at a club called The Junction in Cambridge. Just like dance musics humble beginnings, the night started off small, now the event has transformed into an international clubbing super power. Events have been held all over the globe in countries such as, Belarus, Poland, South Africa, Russia, Spain and many more. Since Cambridge and as the brand started to grow, Angel Music Group were quick to realise that they needed to constantly re-locate to venues all over the UK that could hold a larger audiences. It wasnt long when the brand moved to the dance capital of the world, Ibiza, where it was a huge success. It was in the year 2000 when Godskitchen needed its own venue, named Air which set the record capacity at any single Godskitchen event at 20,000. The huge success of the brand in the UK saw it move to countries across the globe as previously mentioned. Not only has Angel Music Group taken its dance music brand to the heights of success within events, but has taken the brand in other directions with respect to record deals with major labels such as Sony (formerly known as Sony BMG) and Virgin. Several albums have been produced under the Godskitchen brand name with sales totalling over 1 million CDs. Angel Music Group Structure As Angel Music group is a fairly large company that employ a great deal of staff, the organisation splits its staff up into departments that work with different segments within the organisation. .u8c61620841b0a01e87eb32f6b762142b , .u8c61620841b0a01e87eb32f6b762142b .postImageUrl , .u8c61620841b0a01e87eb32f6b762142b .centered-text-area { min-height: 80px; position: relative; } .u8c61620841b0a01e87eb32f6b762142b , .u8c61620841b0a01e87eb32f6b762142b:hover , .u8c61620841b0a01e87eb32f6b762142b:visited , .u8c61620841b0a01e87eb32f6b762142b:active { border:0!important; } .u8c61620841b0a01e87eb32f6b762142b .clearfix:after { content: ""; display: table; clear: both; } .u8c61620841b0a01e87eb32f6b762142b { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .u8c61620841b0a01e87eb32f6b762142b:active , .u8c61620841b0a01e87eb32f6b762142b:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .u8c61620841b0a01e87eb32f6b762142b .centered-text-area { width: 100%; position: relative ; } .u8c61620841b0a01e87eb32f6b762142b .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .u8c61620841b0a01e87eb32f6b762142b .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .u8c61620841b0a01e87eb32f6b762142b .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .u8c61620841b0a01e87eb32f6b762142b:hover .ctaButton { background-color: #34495E!important; } .u8c61620841b0a01e87eb32f6b762142b .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .u8c61620841b0a01e87eb32f6b762142b .u8c61620841b0a01e87eb32f6b762142b-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .u8c61620841b0a01e87eb32f6b762142b:after { content: ""; display: block; clear: both; } READ: How Does Music Affect Your Mood EssayCurrently there are six departments within the organisation that work together in order to sustain the companys progress. Each department within the organisation have a head and then subordinates who oversee everyone. The departments are as follows:   Admin Department The admin staff at Angel Music Group facilitate for all the other departments within the organisation. Although the first perception of the organisation questions its importance, they carry out essential tasks such as; applying for visas, producing itineraries for artists, filling out and organising contracts as well as other paperwork related tasks. Design Department The design department are more involved with the creative side of the organisation. The staff in this department design and organise the production of all the promotional material used by Angel Music Group such as; flyers, posters, network cards, magazine ads, billboards, merchandising, brand images, websites, tickets and many more. Finance The finance department handle all fiscal activities involved with the organisation. This is an imperative role within the organisation as the existence and progress of the company relies on good financial management skills. The departments roles include; identifying and sourcing funds, allocation of funds, controlling the utilisation of funds and tax payments.   Production The production department plan and implement all the events put on by Angel Music Group. A lot of teamwork, organisation and consideration are gone into the production of the events. The roles that the team have to carry out include; Hiring generators, sound, lighting, managing stages and overseeing events on the night.   Promotion The promotion department are responsible for promoting all the events put on by Angel Music Group as well as promoting the organisations brands in general. Good promotion would lead to successful events and thus a healthy organisation. Promotional responsibilities include; distributing flyers and posters, promoting events on websites such as Facebook and finally creating press releases.   Talent Booking The talent bookers have a simple yet challenging role. They are responsible for booking artists and organising an effective line-up for the specified event. A good talent booker would keep the budget in mind and posses good negotiating and organisation skills. The process and production for most events and festivals held by Angel Music Group follow a standard guideline.