1-1 What is Business?

omplete the outline with the correct term. The Six Functions of Business

i. Human Resources

ii. Strategy

iii. Information Management

iv. ______________

v. Marketing

vi. Finance/Accounting

• Operations

• Customer Service

• Missions

• Vision

What is the definition of business?

• A route or plan of action designed to achieve certain organizational goals and objectives.

• A for-profit or non-profit organization involved in commercial, industrial, or professional commerce.

• Improving existing products and developing new products in order to meet customer demands.

• Collecting, organizing, storing, and securing relevant data and information.

Complete the statement with the best term.

Business is about ___________ managing business functions.

• information

• technology

• people

• markets

Business means a for-profit or non-profit organization involved in commercial, industrial, or professional commerce. What is the meaning of industrial?

• The pursuit of a profit margin.

• Customized services provided for a fee

• Collecting, organizing, and storing data.

• Items that are manufactured.

Business means a for-profit or non-profit organization involved in commercial, industrial, or professional commerce. What is the meaning of commercial?

• The pursuit of a profit margin.

• Services provided for a fee.

• The improvement of services.

• Items that are manufactured.

Business means a for-profit or non-profit organization involved in commercial, industrial, or professional commerce. What is the meaning of professional?

• The pursuit of a profit margin.

• Customized services provided for a fee.

• Recording financial transactions and records

• Items that are manufactured.

Which business function is responsible for recruiting, hiring, onboarding, training, evaluating, and terminating employees?

• Finance/Accounting

• 
  Strategy

• Human Resources

• Marketing

A company’s purpose, reason for being, and problem it is solving is its:

• strategy

• target market

• profit margin

• mission

Which business function is a route or plan of action designed to achieve certain goals and objectives?

• Strategy

• Finance/Accounting

• Human Resources

• Marketing

Which business function is about collecting, organizing, storing, and securing relevant data and information in order to make informed decisions?

• Human Resources

• Information Management

• Operations

• Strategy