All companies must convert resources (labor, materials, money, information, and so forth) into goods or services. This functional area is also responsible for ensuring that products are of high quality.

It is any activity that provides goods or services to consumers for the purpose of making a profit.

It is a term most often used to describe business operations.  It's the co-ordination of all resources of an organization through the process of planning, organizing, directing and controlling in order to attain objectives . It is the direction or guidance of people towards organizational goals and objectives

It is the order of the steps or stages of the administration process.

Choose the main external forces, that you must consider in your company.

1) Government. 2) Economy. 3) Marketing, 4) Consumer trends. 5) Corporate citizenship.

Consists of everything that a company does to identify customers’ needs and design products to meet those needs. Develop the benefits and features of products, including price and quality. They also decide on the best method of delivering products and the best means of promoting them to attract and keep customers

Process of systematically arranging and coordinating the human and material resources available to any organization for the main purpose of achieving stipulated goals of that organization.

Difference between the revenue that a company brings in from selling goods and services and the costs of generating this revenue.

Some organizations are not set up to make profits. Many are established to provide social or educational services. Such not-for-profit (or nonprofit) organizations.

This functional area measures, summarizes, and communicates financial and managerial information and advice other managers on financial matters. There are two. Financial, who prepare financial statements to help users, both inside and outside the organization, assess the financial strength of the company. Managerial who prepare information, such as reports on the cost of materials used in the production process, for internal use only

This stage involves ensuring that performance does not deviate from standards.

Financial statements, sales reports, production results, customer satisfaction, and formal performance appraisals, can help us to:

It is the function of management that involves developing an organizational structure and allocating human resources to ensure the accomplishment of objectives.

It is the setup of the functions of a company, per command and importance.

Managers, who are responsible for overall performance

The goal of any business is to satisfy the needs of its_______________.

These are alternatives or courses of action that show the ways and resources that must be used to achieve what is planned.

Involves planning for, organizing, staffing, directing, and controlling a company’s resources so that it can achieve its goals. It is also responsible for the work performance of other people

Represent the result of what the company wants to achieve, can be specific, general, and quantitative.

Name of the process that begins with specialization, dividing necessary tasks into jobs; the principle of grouping jobs into units

A management plan should include a contingency plan if certain aspects of the master plan prove to be unattainable.

Coordinate the activities identified in the planning process among individuals, departments, or other units and allocate the resources needed to perform them.

This external force is how a company exercises its rights, obligations, privileges, and overall corporate responsibility within our local and global environments. It is defined by how well companies responsibly manage not only their financial performance but also their environmental and social impact.