Скачать с ютуб What are the main functions of a business? | Business Management | Teacher RK в хорошем качестве

What are the main functions of a business? | Business Management | Teacher RK

What are the main functions of a business? | Business Management | Teacher RK #functionsofabusiness #BusinessManagement #TeacherRK Key words ib business management,business management,ib business,ib business management 2024,ib business 2024,business management hl,unit 1.1 business management,business management unit 1.5,ib business ia,introduction to business management,business ia,ib business tips,ib business unit 1, Teacher RK, Business management EE, how to get 7 on IB business management, What are the main Business Functions? In order to achieve organisational goals, it is required for a business to operate effectively by integrating key functional areas such as such as human resources, finance, marketing, and operations management. In this video, we are discussing the main business functions. 1. Human Resource Management. The human resources department is responsible for managing and developing an organization’s workforce to meet the company objectives. The key functions include human resource planning, recruitment, training, compensation, communication, motivation, leadership and dealing with employee relations. 2. Finance and accounts. The key function of this department management is to ensure that funds are made available at right time to produce goods or offer services. This department manages the organization’s money and assets. It ensures accurate recording and reporting of financial documentation and informs stakeholders of the company’s financial position. 3. Marketing. This department ensures business offers a product or service that are desired by sufficient number of people or other business organisation for profitable operations. In this regard, the marketing department of a business is responsible for predicting, identifying and meeting the needs and wants of customers in a profitable manner. The key activities include, market research, promotion, pricing, distribution, branding, etc. 4. Operations management. This function of a business in charge of providing the right goods and services at right quantity and quality in a cost effective and timely manner. The key activities include are, research and development, quality control, production planning, inventory management, etc. All these functions are interdependent and the success of a business depends on how successfully these functions are aligned to achieve organisation objectives. For any queries, please contact [email protected]