Business Functions

Front

What is the main goal of the marketing function in a business?

Back

To create awareness, generate interest, and drive sales of products or services.

Front

What is the purpose of financial management in a company?

Back

To ensure effective utilization of funds, maximize profits, increase shareholder value, and maintain financial stability.

Front

Why is human resources important for a business?

Back

Human resources are essential for recruiting, training, and managing employees, which directly impacts the company's performance, productivity, and overall success.

Front

What does the operations function focus on in a company?

Back

Managing processes and resources for production and delivery of goods and services.

Front

How does the sales function contribute to a business's success?

Back

By generating revenue, acquiring new customers, retaining existing customers, and increasing market share.

Front

What are the 4 P's of marketing?

Back

Product, Price, Place, Promotion

Front

What is the difference between revenue and profit?

Back

Revenue is the total income, while profit is the income after expenses.

Front

What are some common HR responsibilities? Options: Inventory management, customer service, product development; Recruitment, onboarding, training, performance management, employee relations, compliance with labor laws; Legal, finance, IT support; Budgeting, marketing, sales

Back

Recruitment, onboarding, training, performance management, employee relations, compliance with labor laws

Front

What is supply chain management?

Back

Supply chain management is the management of the flow of goods and services, including all processes that transform raw materials into final products.

Front

How can a sales team improve customer relationships?

Back

By focusing on active listening, personalized communication, timely follow-ups, providing value-added services, and seeking feedback for continuous improvement.