Functional areas of a business

Question 1

Factors of production

Answer 1

1. Land
2. Labor
3. Capital
4. Entrepurnership/ Enterprise

Question 2

Management functions

Answer 2

Management function deals with the task managers are expected to perform within the business.

Question 3

Management responsibilities

Answer 3

Management responsibilities deals with the duties mangers are expected to perform regarding, individuals both within the enterprise employees and owners.

Question 4

Functional areas of a business

Question 5

Production Department

Answer 5

1. The Production Department in a business is responsible for turning raw materials into finished products. This department ensures that goods are produced efficiently, cost-effectively, and to the required quality standards.

#Maintaining factory equipment ,

Develop quantity control measures for the company’s product.

Question 6

Marketing Department

Answer 6

The Marketing Department in a business is responsible for promoting the company’s products or services, building brand awareness, and driving sales. It plays a crucial role in understanding customer needs, creating marketing strategies, and communicating the value of the company’s offerings to the target audience.

Question 7

Financed and accounting Department

Answer 7

Is responsible for Preparing financial statements for the business, Making payments on behalf of other departments, Developing and maintaining payroll system.

Question 7

Personel/ Human Resource department [HR}

Answer 7

The Human Resource (HR) Department in a business is responsible for managing all aspects of the employee lifecycle and ensuring that the organization has the talent and resources needed to achieve its goals. This includes recruiting, hiring, training, employee relations, benefits administration, and compliance with labor laws.

Question 7

Research Department

Answer 7

The Research Department in a business is responsible for gathering, analyzing, and interpreting data to support decision-making, innovation, and strategic planning. This department plays a key role in understanding market trends, customer needs, technological advancements, and competitive landscapes

Question 8

Information Department

Answer 8

The Information Technology (IT) Department in a business is responsible for development and maintaining It systems and ensuring the security of information and assets.