8 business function Flashcards Preview

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Flashcards in 8 business function Deck (27):
1

what is the goal of the general management

-responsible for overall management of the business through performing the four basic management activities

2

What are the 4 basic management tasks

-planing
-organising
-activating
-controlling

3

What is planing

-setting goals and making plans

4

What is organising

-organising and arranging the plans and responsibilities

5

What is activating

-start doing the work to achieve its goals

6

What is controlling

-making sure are carried out as planned

7

**What is purchasing function

-finding the suitable suppliers and purchasing raw materials/stock at the right time,right price, of the right quality and in the right quantities

8

**What is the production function

-converting raw materials into final products

9

**What is the public relations function

-creating a favourable image of the business enterprises

10

**What is the marketing function

-distributing and selling the the enterprises product

11

**What is the human resources function

recruiting, selecting and appointing new imployees

12

**what is the administrative function

-collecting, storing and distributing business information so that the info can be used analysing trends an making decisions

13

**What is the financial function

-financing all business activities by ensuring that money is available to run the business efficiently through careful financial planning

14

**what are the responsiblities of the financial function

-to draw up budgets
-to follow up on outstanding money
-to pay the businesses accounts
- to spend a businesses money responsibility

15

**What is the main responsibility of the public relations function

Is to create a good image of a business

16

**What is mass production

- large scale production of the same goods
-Requires expensive machinery
-goods are cheaper to produce, compared to other production methods
- eg standard sized front doors for two million low cost houses

17

**What is batch production

-Similar goods are produced in batch
-once a batch of goods is finished, a different batch is produced
Eg front doors made especially for a new security complex

18

**What is job production

-Custom made goods are made once off
-Custom made goods are more expensive than standard goods
-a custom made front door for a clients house

19

**What is the main responsibility of the public relations function

Is to create a good image of a business

20

**What is human resources functions recruitment

-choosing the best candidate for a job

21

**What is human resources functions placement

placing candidates in a business where they can make the best possible contribition to the business

22

**What is the marketing manager responsible

-selling the goods and services produced by the business enterprise
-doing market research

23

**What is the product policy

-deciding which goods/services the business is going to sell
-deciding which packaging is going to be used
-trademarks

24

**What is the pricing policy

-determining the right price for the businesses goods/services

25

**What is the distribution policy

-deciding which distribution channels the business goods will follow to reach consumers

26

**What are the five distribution policy

-manufacturer -consumer
-manufacturer -retailer -consumer
-manufacturer-agent -retailer -consumer
-manufacturer- wholesaler -retailer -consumer
-manufacturer-agent - wholesaler -retailer -consumer

27

**What is risk management

-although risk management is not classified as a traditional management task
involves;
-identify potenial threats/risks from inside and outside the business
-evaluate the risk
-finance the risk by working possible losses into the budget