Functional Areas of a Business Flashcards
The business activities of all firms are divided into five main areas what are they?
Human Resource, Finance, Production, Marketing & Research Development
Who controls the Human Resource department of a business?
1) A Personnel
2) Human resource Manager
3) Human Resource Development Manager
What are the functions of the Human Resource department?
1) recruitment and employment of staff**
2) Orientation of staff members
3) Deal with staff welfare such as safe working conditions
4) Training of staff **
5) Negotiating with trade unions**
6) Dismissal of staff**
7) Keep confidential records about staff**
8) Liaise with accounts department regarding salary agreements
9) Developing a staff handbook**
10) Evaluation & promotion of staff**
11) Handling staff grievances**
12) Assisting management with the formulation of personnel policies
Who controls the finance department of a business?
1) an Accounting Manager
2) a Finance Manager
What are the functions of the finance department of a business?
1) Keep accurate records of the business’ financial transactions**
2) Maintain a satisfactory cash flow position for the day to day operations of the business**
3) Ensure that the books are available for audit purposes**
4) Pay salaries to employees**
5) Provide regular financial reports to owner(s) or Board of Directors
6) Re-invest profits where and when necessary**
7) Budgeting & forecasting**
8) Establish a credit control and collection of accounts system
9) Control of income and expenditure**
10) Purchase items /equipments needed
Who controls the production department of a business?
a Production Manager
What is the name given to the supervisor of the production department of a business?
a Foreman
What are the functions of the production department of a business?
1) Coordinating the planning of production activities**
2) Transforming raw materials into finished goods**
3) Producing goods and services required by customers**
4) Ensure that finished products match customer’s specifications**
5) Store raw materials**
6) Research and development of products**
7) Checking and maintaining stock**
8) Maintaining the equipment of the firm**
9) design products**
10) Recommend equipment to be purchased**
Who controls the marketing department of a business?
a marketing Manager
What are the functions of the marketing department of a business?
1) Anticipate consumer’s demand so that the right products are produced at the right time and price.**
2) Promote the sale of products through advertising, display, pricing policy, discounts and credit terms.
3) Conduct market research to maintain market share and to be able to meet changes in demand.**
4) Prepare a budget for sales and liaise with production and finance departments**
5) Control distribution of products by selecting appropriate channels of distribution, warehousing and transport facilities**
6) Advise Board of Directors on marketing policies/strategies
7) Prepare sales statistics and reports**
8) Provide after-sales services to customers**
What are the functions of the Research and Development department of a business?
1) Conducting consumer research
2) Conducting financial research
3) Conducting feasibility studies
4) Piloting projects
