8 business function

Question 1

what is the goal of the general management

Answer 1

-responsible for overall management of the business through performing the four basic management activities

Question 2

What are the 4 basic management tasks

Answer 2

• planing
• organising
• activating
• controlling

Question 3

What is planing

Answer 3

-setting goals and making plans

Question 4

What is organising

Answer 4

-organising and arranging the plans and responsibilities

Question 5

What is activating

Answer 5

-start doing the work to achieve its goals

Question 6

What is controlling

Answer 6

-making sure are carried out as planned

Question 7

**What is purchasing function

Answer 7

-finding the suitable suppliers and purchasing raw materials/stock at the right time,right price, of the right quality and in the right quantities

Question 8

**What is the production function

Answer 8

-converting raw materials into final products

Question 9

**What is the public relations function

Answer 9

-creating a favourable image of the business enterprises

Question 10

**What is the marketing function

Answer 10

-distributing and selling the the enterprises product

Question 11

**What is the human resources function

Answer 11

recruiting, selecting and appointing new imployees

Question 12

**what is the administrative function

Answer 12

-collecting, storing and distributing business information so that the info can be used analysing trends an making decisions

Question 13

**What is the financial function

Answer 13

-financing all business activities by ensuring that money is available to run the business efficiently through careful financial planning

Question 14

**what are the responsiblities of the financial function

Answer 14

• to draw up budgets
• to follow up on outstanding money
• to pay the businesses accounts
• to spend a businesses money responsibility

Question 15

**What is the main responsibility of the public relations function

Answer 15

Is to create a good image of a business

Question 16

**What is mass production

Answer 16

• large scale production of the same goods
• Requires expensive machinery
• goods are cheaper to produce, compared to other production methods
• eg standard sized front doors for two million low cost houses

Question 17

**What is batch production

Answer 17

-Similar goods are produced in batch
-once a batch of goods is finished, a different batch is produced
Eg front doors made especially for a new security complex

Question 18

**What is job production

Answer 18

• Custom made goods are made once off
• Custom made goods are more expensive than standard goods
• a custom made front door for a clients house

Question 19

**What is the main responsibility of the public relations function

Answer 19

Is to create a good image of a business

Question 20

**What is human resources functions recruitment

Answer 20

-choosing the best candidate for a job

Question 21

**What is human resources functions placement

Answer 21

placing candidates in a business where they can make the best possible contribition to the business

Question 22

**What is the marketing manager responsible

Answer 22

• selling the goods and services produced by the business enterprise
• doing market research

Question 23

**What is the product policy

Answer 23

• deciding which goods/services the business is going to sell
• deciding which packaging is going to be used
• trademarks

Question 24

**What is the pricing policy

Answer 24

-determining the right price for the businesses goods/services

Question 25

**What is the distribution policy

Answer 25

-deciding which distribution channels the business goods will follow to reach consumers

Question 26

**What are the five distribution policy

Answer 26

• manufacturer -consumer
• manufacturer -retailer -consumer
• manufacturer-agent -retailer -consumer
• manufacturer- wholesaler -retailer -consumer
• manufacturer-agent - wholesaler -retailer -consumer

Question 27

**What is risk management

Answer 27

-although risk management is not classified as a traditional management task
involves;
-identify potenial threats/risks from inside and outside the business
-evaluate the risk
-finance the risk by working possible losses into the budget