Business functions

Question 1

How many business functions are there

Answer 1

There are 9 business functions

Question 2

What are the 8 business functions?

Answer 2

Production
public relationships
purchasing
human resources
administration
marketing 
general management 
finance

Question 3

what is production (3 bullet points) and give an example of a job in it.

Answer 3

Economical and efficient use of the 4 factors of production to create quality goods. Efforts to decrease inputs but increase productivity and profits
eg: Floor managers

Question 4

what is public relation (3 bullet points) and give an example of a job in it.

Answer 4

Develop relationships with staff
Develop relationships with role players in industries and in government
Writing and editing in-house magazines

Question 5

what is purchasing (3 bullet points) and give an example of a job in it.

Answer 5

Receive stock
Managing materials
Negotiating long term contracts for repetitive purchases
Eg: purchasing clerk

Question 6

what is human resources (3 bullet points) and give an example of a job in it.

Answer 6

taking care of employee welfare
Negotiating with labour unions
Dealing with discipline, promotion and transfer of employees
Eg: HR general manager

Question 7

what is administration (3 bullet points) and give an example of a job in it.

Answer 7

Scheduling of meetings
Arranging flights, appointments and hotels
Preparation of legal documents
Eg: secretary

Question 8

what is marketing (3 bullet points) and give an example of a job in it.

Answer 8

4 p’s of marketing
product : Identifying consumers wants and needs
promotion : Advertising, sales, branding and promotional education
price : Price of product or service
place : How and where the product gets to the customer, where it will be sold, which industry and to which segment.
Eg: Brand managers

Question 9

what is general management (3 bullet points) and give an example of a job in it.

Answer 9

Responsible for : 
Strategic planning 
Organizing
Staffing
Directing and leading in order to attain profits 
Eg: Chief executor

Question 10

what is Finance (3 bullet points) and give an example of a job in it.

Answer 10

Projecting profits and losses for the business
managing income and expenditure
Drawing up year end financial statements
Eg: accountant