TOPIC 14 - Functions of business Flashcards
1
Q
There are 8 BUSINESS FUNCTIONS. Name them
A
1) Administration
2) Purchasing
3) Marketing
4) Finance
5) Public Relations
6) Human Resources
7) Production
8) General Management
2
Q
Name a few roles in the business that fits the ADMINISTRATION FUNCTION
A
Secretaries
Administrative Assistants
Personal Assistants
3
Q
What are the CHARACTERISTICS of the ADMINISTRATION FUNCTION?
A
- Paying accounts
- Answering e-mails, phone calls
- Filing
- Record-keeping
4
Q
What are the CHARACTERISTICS of the PURCHASING FUNCTION?
A
- Make sure there is always enough STOCK
- Buy materials at best possible PRICES
- Purchases must stay within BUDGET
- Order materials ON TIME, otherwise production
is held up
5
Q
What is the MARKETING FUNCTION responsible for?
A
- ADVERTISE
- Find TARGET MARKET
- Manage the marketing BUDGET
- Choose best DISTRIBUTION CHANNELS
6
Q
What is the FINANCE FUNCTION responsible for?
A
- Cashflow
- Pay taxes & VAT
- Submit tax returns
- Keep business assets secure
7
Q
What is the role of the PUBLIC RELATIONS function?
A
- finds out how the public SEES the business
- gives advice to management
- communications with the public
- runs promotional events
8
Q
What is the role of the HUMAN RESOURCES function?
A
- hire staff
- keep staff happy
- train staff
- define job descriptions
9
Q
What is the role of the PRODUCTION FUNCTION?
A
- Choose best production METHOD
- Manage the production BUDGET
- Control the production COSTS
- Keep up to date with latest TECHNOLOGY
10
Q
What is the function of the MANAGEMENT in a company?
A
- Oversees ALL other functions
- Manages ALL the other managers
- PLANS on a high level
- Ensure ALL functions work together
