The interdependent nature of business

Question 1

What is the interdependent nature of businesses?

Answer 1

How the functions of a business are linked and how they affect each other

Question 2

Business operations

Answer 2

• Involves the owners and managers making the most of all the assets owned by the business, to convert those assets into quality finished goods and services

Question 3

Marketing

Answer 3

• This area works to ensure that the right goods are in the right place, at the right time, at the right price to make a profit
• This will require the department to organise the advertising and promotion of the products

Question 4

Human resources

Answer 4

• They deal with people needed to manage, produce and sell the goods to help the business make a profit

Question 5

Production

Answer 5

• This involves combining the assets of a business to produce the goods and services that are to be sold

Question 6

Finance

Answer 6

• This pays for the assets and resources used to produce the goods and services and receives the payments for the output from customers