Business Functions Flashcards
What system should every successful organisation have?
A customer relationship management system.
Why are dynamic organisational structures becoming more popular?
You can run your plans by one manager rather than having to run it through several different managers. So this allows decisions to be made quicker.
What is the business function of finance and accounting and how does it relate to marketing?
It understands budgets and how much money needs to put towards marketing campaigns.
What is the business function of Human Resources and how does it relate to marketing?
It is about complying with laws regarding record keeping, hiring and training employees on ethics and diversity. They can work closely with the marketing team to ensure campaigns are legal and are not discriminatory.
What is the function of IT & Support and how does it relate to marketing?
They ensure that digital business systems are working correctly and also ensure that marketing campaigns can be implemented seamlessly.
What is the business function of customer services and how does it relate to marketing?
Marketers are becoming customer service agents in the sense of them interacting with customers especially online such as responding to complaints on Twitter.
What is the business function of Sales & Marketing and how does it relate to marketing?
They both impact lead generation and revenue. So they work closely together to attract customers to the business and help to deploy and action marketing campaigns.
What is the business function of Research & Development and how does it relate to marketing?
It keeps a business competitive by providing insights into the market and developing new services/products or improving existing ones. The marketing department can determine what customers need e.g. product features, and the price they are willing to pay. This can be communicated with the R&D department so that products are created in tandem with customers’ needs.
What is the business function of production and operations and how does this relate to marketing?
Marketing department needs to understand the product and how it is being produced. They also need to understand timescales. As well as understand the functionality of the business so they can keep this in mind when creating and deploying marketing campaigns.
What are internal functions in a business?
This refers to anything that happens within the business e.g. finance, purchasing raw materials (production and operations), hiring the staff, overhead expenses, the production of goods (factories).
What are external functions in a business?
This facilitates promoting products produced by the business. Marketing research, advertisements, sales and promotion, appointing of sales agents and selling and distribution.
What are support functions in a business?
This supports activities carried out by the business to permit the core business functions. This tends to be external actors such as accounting operations, public relation officers, quality control, business process outsourcing, human resource services.
