Functional Areas In A Business Flashcards
(11 cards)
What is production in a business?
Productions is the process of turning inputs like raw materials or ideas into goods and services.
What is marketing in a business?
All the processes involving promoting and selling goods or services.
What is finance?
Finances manages resources to ensure a business has the capital for production, expenses, and growth.
What is the role of Human Resources in a business?
Human Resources manage people within the organization.
What are the six areas of Human Resources?
Recruitment, safety, employee relations, compensations and benefits, compliance and training and development.
RSERCCT
What is recruitment in a business?
Recruitment ensures staff with the right skills and experience are hired
What is safety in a business?
HR provides safe, comfortable working conditions to prevent injuries and reduce costs.
What are employee relations in a business?
Employee relations focus on building strong relationships between employers and employees.
What are compensation and benefits in a business?
Compensation and benefits include wages and perks like insurance, pensions, bonuses, and company rewards.
What is compliance in a business?
Compliance ensures the business follows labor laws to avoid penalties, legal issues, and employee dissatisfaction.
What is training and development in a business?
Training improves skills for an employee’s current role, while development focuses on preparing them for future roles.
