04.07.09 Holiday Work - Topic 2 Key Business Functions....

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
Topic 2 – Key Business Functions. Interdependence of Business Functions – Chapter 7page 142. Please summarise the information under the following headings - Copy out figures 7.2 (142) AND 7.3 (143) Identifying the Business Functions - Operations refers to the business processes that involve transformation or, more generally, ‘production’ - Employment Relations covers all aspects of employment resourcing and includes the acquiring developing, maintaining and motivating of staff in addition to those processes involved when staff leave the business - Marketing the total system of interacting activities designed to plan, price, promote and distribute products to present and potential customers - Accounting and Finance this is the function that is concerned with recording and summarising financial transactions into a series of reports that can be easily interpreted. - Interdependence of Business functions means the key business functions work best when they overlap and employees work towards common goals. Each function read depends on the support of the others if it is to perform at capacity Business Functions and relationship to the value chain / value adding ( Give examples) Value chain refers to the process a product or service goes through and how the process affects the final cost and price of the product or service. Another name for the value chain is ‘value adding’: value x + y = final value (making products and services more valuable – As well as summarise the information, answer questions Exercise 7. 1 -
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

Page1 / 4

04.07.09 Holiday Work - Topic 2 Key Business Functions....

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online