EMS- Functions Of A Business

Question 1

Production

Answer 1

Combination of the other factors of production.

Question 2

CELL

Answer 2

Capital
Entrepreneurship
Land
Labour

Question 3

The entrepreneur must ensure

Answer 3

She combines the other 3 factors of production in the best possible manner to improve the overall efficiency of the business.

Question 4

Personnel or Human Resources

Answer 4

Deals with the staff, form hiring of staff, to training, paying and firing.

Question 5

General Manager

Answer 5

POLC

Question 6

Administration

Answer 6

Responsible for collecting all data in the business and the business environment.

Question 7

Marketing

Answer 7

Deals with all marketing.

Question 8

Marketing mix or 4 P’s of marketing

Answer 8

Product Policy
Price Policy
Place Policy
Promotion Policy (marketing communication mix)

Question 9

Market Research

Answer 9

Telephones
Questionnaires
Personal Interviews

Question 10

Financial

Answer 10

Has to make sure there is enough capital in the business and that it is used in the best possible manner.

Question 11

Long Term Capital

Answer 11

Spent of fixed assets such as land and buildings, vehicles and equipment.

Question 12

Short Term Capital/ Working Capital

Answer 12

Used to buy stock, pay creditors and to cover expenses such as water and electricity, telephone and insurance.

Question 13

Public Relations

Answer 13

Builds the image of the business, not marketing its products or services.

Question 14

Difference between PR and Sales Promotion

Answer 14

PR creates a favorable image for the enterprise as a whole and sales promotion concentrates on promoting the sale (selling) of the product.

Question 15

SABS

Answer 15

South African Bureau of Standards