areas of management responsibility and how they relate to business objectives

Question 1

operations

Answer 1

concerned with controlling the activities concerned with converting inputs to outputs in the production of goods and services. the more efficient and minimisation of waste creates less money loss and more stock to sell, therefore increasing profit.

Question 2

finance

Answer 2

management responsibility concerned with controlling the activities associated with receiving and spending money within the business. this is achieved through budgeting accounting and recording financial transactions. the business can look at this calculations and improve the profits made

Question 3

sales and marketing

Answer 3

responsible for promoting the business and its products to potential customers, this is done through the use of the 7Ps and the marketing mix. good sales and marketing creates positive exposure and awareness of the business and its products, with customers willing to buy its products over competitors, increasing marketshare

Question 4

Human Resources

Answer 4

concerned with managing the employees and all aspects of their working relationship with the business. this involves acquiring and terminating employees, as well as providing employees with safe working conditions and fair pay. Human Resources helps employees learn of what the shareholders are expecting from the business, and achieve this through motivated staff and the appropriate skills to create quality goods.

Question 5

technology support

Answer 5

concerned with installing and maintaining technology that benefits the business. tech support look after all the electronics in the business and help when any problems arise, therefore can stay within reach of customers at all times with no loss of profit