Functions of Business

Managing operations of a business in the most efficient way, enabling the business to use its resources effectively.

• Organizing

• Planning

• Controlling

• Leading

Managing the activities within the business to ensure that it’s on track to achieve its goals. When people or processes stray from the path, managers are responsible to notice and take corrective action.

• Organizing

• Leading

• Controlling

• Planning

Set long term goals for the business and short-term strategies needed to execute to achieve goals

• Leading

• Planning

• Controlling

• Organizing

Managers lead work teams or groups through a process or the development of a product or service.  Operations, people, natural resources.

• Planning

• Organizing

• Leading

• Controlling

You are hired by a business for your ability to analyze trends and data to assist with creating long and short term goals.

• Leading

• Organizing

• Planning

• Controlling

You are hired by a business to make sure all the "factors of production" are managed efficiently and effectivly to meet the business goals

• Organizing

• Planning

• Controlling

• Leadership

You are hired by a business to mentor and provide direction for employees to achieve their personal goals and the business goals

• Planning

• Organizing

• Planning

• Leadership

You are hired by a business to analyze current operations and create options to maintain and/or improve operations; especially if operations if off track.

• Organizing

• Planning

• Controlling

• Leadership

What is the foundation all businesses are based from?

• Needs and Wants

• Goods and Services

• Profit and Control

• Factors of Production

What are the 3 "Economic Resources"/"Factors of Production"?

• Land, Mental Skills, Equipment

• Natural, Human, Capital

• Equipment, Labor, Cash

• Money, Captial, Labor