LO6 Flashcards
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10 questions
| 🇬🇧 | 🇬🇧 |
| What are functional areas? Name them. | Departments of a business that carry out specific tasks. Human Resources, Operations, Marketing and Finance. |
| What are Human Resources responsible for? | They’re responsible for managing employees who work for the business |
| What is Marketing responsible for? | It is responsible for identifying the wants/needs of customers and ensuring these are met. |
| What are Operations responsible for? | They’re responsible for actually producing or selling the goods/services that the business provides. |
| What is Finance responsible for? | They’re responsible fr managing the money within the business and reporting on the business performance. |
| List 5 things Human Resources are responsible for | -recruitment and selection of employees -training employees -performance management -health and safety -meeting employment laws |
| List 4 things Marketing is responsible for | The four ps -Product -Price -Place -Promotion |
| List 5 things Operations are responsible for | -plans the production of products -produces the products -monitors the quality of the product -manages levels of stock -focuses on the logistics of the products |
| List 4 things Finance is responsible for | -monitors cash flow -financial reports -monitors budgets for other functional areas -helps ensure the business makes a profit. |
| What is it important that all the functional areas do? | Communicate. It is important for the areas to communicate as, for example, operations need to talk to finance to find out how much they can spend on products. |