B.E. 301: Understand the types of business activities /question

• • Marketing

• The process of planning, controlling, and organizing an organization or department

• • Operations

• The process of planning, staffing, leading, and organizing employees

• Strategic management

• The process of planning, maintaining, monitoring, controlling, and reporting
  the use of financial resources

• • Human Resources Management

• The process of creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.

• • Financial Analysis

• The day-to-day activities required for continued business functioning

What is the primary purpose of financial analysis?

• To hire and train employees

• To plan, maintain, monitor, and report financial resources

• To create and deliver value to customers

• To organize business operations

Which business function focuses on hiring, training, and managing employees?

• Financial analysis

• Operations

• Human resources management

• Marketing

What is a key responsibility of information management?

• Monitoring financial statements

• Maintaining and evaluating business data

• Producing physical products

• Organizing employees

Which of the following is a key component of marketing?

• Monitoring financial accounts

• Creating and delivering offerings to customers

• Overseeing the production process

• Hiring and training staff

Which process ensures the business operates efficiently on a daily basis?

• Strategic management

• Operations

• Outsourcing

• Marketing

What is the main reason businesses outsource certain activities?

• To increase costs

• To reduce efficiency

• To leverage external expertise and cost savings

• To manage in-house production

Which function is responsible for planning and organizing an organization’s goals and strategies?

• Production

• Strategic management

• Human resources management

• Marketing

True/False

Financial analysis involves the day-to-day operations of the business.

• True

• False

True/False:

Human resources management includes staffing, training, and leading employees.

• True

• False