8 business function Flashcards
what is the goal of the general management
-responsible for overall management of the business through performing the four basic management activities
What are the 4 basic management tasks
- planing
- organising
- activating
- controlling
What is planing
-setting goals and making plans
What is organising
-organising and arranging the plans and responsibilities
What is activating
-start doing the work to achieve its goals
What is controlling
-making sure are carried out as planned
**What is purchasing function
-finding the suitable suppliers and purchasing raw materials/stock at the right time,right price, of the right quality and in the right quantities
**What is the production function
-converting raw materials into final products
**What is the public relations function
-creating a favourable image of the business enterprises
**What is the marketing function
-distributing and selling the the enterprises product
**What is the human resources function
recruiting, selecting and appointing new imployees
**what is the administrative function
-collecting, storing and distributing business information so that the info can be used analysing trends an making decisions
**What is the financial function
-financing all business activities by ensuring that money is available to run the business efficiently through careful financial planning
**what are the responsiblities of the financial function
- to draw up budgets
- to follow up on outstanding money
- to pay the businesses accounts
- to spend a businesses money responsibility
**What is the main responsibility of the public relations function
Is to create a good image of a business
**What is mass production
- 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
**What is batch production
-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
**What is job production
- 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
**What is the main responsibility of the public relations function
Is to create a good image of a business
**What is human resources functions recruitment
-choosing the best candidate for a job
**What is human resources functions placement
placing candidates in a business where they can make the best possible contribition to the business
**What is the marketing manager responsible
- selling the goods and services produced by the business enterprise
- doing market research
**What is the product policy
- deciding which goods/services the business is going to sell
- deciding which packaging is going to be used
- trademarks
**What is the pricing policy
-determining the right price for the businesses goods/services
**What is the distribution policy
-deciding which distribution channels the business goods will follow to reach consumers
**What are the five distribution policy
- manufacturer -consumer
- manufacturer -retailer -consumer
- manufacturer-agent -retailer -consumer
- manufacturer- wholesaler -retailer -consumer
- manufacturer-agent - wholesaler -retailer -consumer
**What is risk management
-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
