business functions Flashcards

1
Q

definitions:

operations, marketing , finance, human resources

A

operations - activities to make a product/service
marketing - activities to make consumers want to buy product (4 Ps)
Human resources - activities to do with people side, (hiring, staff wellbeing)

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

ethical business behaviour

A

focus on economic (financial goals), environmental (recycling, reducing greenhouse gases) and social (community events/charities) performance

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

3 quality managements

A

quality control - using inspections at different during the production process
quality assurance - using a system to achieve certain standards
quality improvement - continually causing on improvements in all business functions

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

Fiancé statements.

A

cash flow statement
income statement (profit and loss statement, or revune statement )
balance sheet

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

Cash flow statement purpose

A

purpose to indicate the movement of cash receipts and cash payments resulting from transactions over a period of time

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

balance sheet purpose

A

helps monitor levels of debt and equity . shows the overall financial stability of the business
Total Assests = Total Liabilites

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

Income statements purpose

A

summary of the income earned and expenses incurred over a period of time
shows revenue, and how much profit or loss achieved

How well did you know this?
1
Not at all
2
3
4
5
Perfectly