business functions Flashcards
what are the functions within a business?
marketing
human resource management
accounting and finance
operations management.
what is involved in marketing
conducting market research to find out the needs of the customers and characteristics and buying habits of the market, to create a product which meets and satisfies customer needs.
what is involved in operations?
the production refers to turning input into the finished output. the main goal of operations is to create a controlled production process that is efficient as possible.
what is involved with HR?
HR is concerned with the well-being of the employee's and deals with things such as: redundancy appraisals training hiring internal complaints.
what is involved in accounting and finance?
they deal with all the financial resources and keep detailed accounts of finances and things that have been sold or bought. their aim is too control costs and ensure there are sufficient funds available for the day to day running of the business.