Interdependence of Finance Flashcards
1
Q
What is interdependence in business?
A
The mutual dependence the 4 key business functions (KBFs) have on each other
2
Q
What are the 4 KBFs?
A
Operations, marketing, finance, human resources
3
Q
Why does operations need finance?
A
Funds help to purchase inputs and carry out the transformation process
4
Q
Why does marketing need finance?
A
Needs finance for completing activities, e.g., market research, promotions, advertising
5
Q
Why does human resources need finance?
A
Needs funds to pay employees, offer performance rewards, provide training/support
6
Q
A
