Functions of a Business

Question 1

Name all the different functions of a business

Answer 1

• Administrative (hoes)
• Purchasing (retail therapy)
• Human Resources (hippies)
• Marketing (extroverts)
• Production (yellow hat)
• Finance (Tristan)
• Public relations (people pleaser)
• General management (army)

Question 2

What does the administrative function (hoes) do?

Answer 2

• answering phone
• Paying accounts
• planning
• record-keeping
• Organizing
• paying attention to detail, being thorough
• setting up efficient systems
• liaising with people from diff. Departments
• managing admin budget

Question 3

What does Purchasing function (retail therapy) do?

Answer 3

• buying raw materials @ best price
• making sure raw material = ordered on time so production = not held up
• making sure purchases stay within budget
• keep accurate records of purchases
• keep track of stock (make sure always enough stock)

Question 4

What does Human Resources function (hippies) do?

Answer 4

Hires staff
Job descriptions 
In charge of staff leave
Retaining staff
Ensuring workplace = happy and safe 
Retrenching/dismissing staff
Keeping staff happy 
Training staff
Keeping good labor relations 
Keeping business compliant with laws

Question 5

What does marketing function (extroverts) do?

Answer 5

• determine what goods businesses produce
• how goods = branded to have biggest impact on customers
• best distribution channels
• promote goods
• publicity for goods
• best pricing for goods
• find target market
• make decisions abt how to standardize production processes
• marketing budget

Question 6

What does production function (brains) do?

Answer 6

• getting resources for production
• manage all aspects of production process
• scheduling production process
• best production method
• manage production budget
• production costs
• up to date w tech to improve production process

Question 7

What does finance function (tristans) do?

Answer 7

• manage cash flow
• manage budgets
• records income/expenses
• business’ taxes
• business’ accounts
• manage investments,loans, shares
• raising capital
• protect business from financial mismanagement
• policies for ethical use of business funds
• assets secure
• makes sure business = protected from risky investments
• tax returns, pays VAT
• sensible + financial decisions

Question 8

What does Public relations function (savior complex) do?

Answer 8

• observes how public sees business
• how business can improve public opinion
• communicate w public

Question 9

General management function (army) ?

Answer 9

• plans/strategies’ @ high level
• keeps business on track for achieving its objectives
• oversees all other functions
• manages managers
• plans, organizes, leads & controls resources
• ensures functions work together