6th Grade (Exploring Business): Purpose & Functions of Business

Money that remains after a business has paid for the expenses of running the business.

• DEBT

• PROFIT

• WANTS

• NEEDS

Tasks that businesses perform or provide for customers, such as hair cuts and car washes.

• GOODS

• SERVICES

• NEEDS

• WANTS

A person's incentive to work to gain something for himself or herself (that is to make money).

• PROFIT MONEY

• PROFIT CASH

• PROFIT CREDIT

• PROFIT MOTIVE

Items businesses sell that can be physically weighed or measured, such as iPods and CDs.

• GOODS

• WANTS

• SERVICES

• NEEDS

Contest between businesses to win customers' business and loyalty.

• BUSINESS PLAN

• COMPETITION

• MARKET RESEARCH

• PROFIT MOTIVE

The process of developing, installing, and implementing computer information systems and applications.

• HUMAN RESOURCES

• OPERATIONS

• INFORMATION TECHNOLOGY

• MARKETING

The process of recording and reporting the financial data for a business.

• MARKETING

• ACCOUNTING

• HUMAN RESOURCES

• MANAGEMENT

The process of creating, promoting, and presenting a product to the consumers.

• MARKETING

• ACCOUNTING

• OPERATIONS

• MANAGEMENT

The process of leading and directing all or part of an organization.

• MARKETING

• OPERATIONS

• MANAGEMENT

• ACCOUNTING

The activities involved in the day-to-day running of a business for the purpose of producing value for the stakeholders.

• ACCOUNTING

• MANAGEMENT

• MARKETING

• OPERATIONS