business
- Created by: katier1234
- Created on: 13-11-19 09:36
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- Key Tasks and Functional Areas of Business
- Finance
- Making, receiving and recording payments
- Preparing annual financial accounts eg. Income statement
- Monitoring and analysing financial performance eg. Cash Flow
- Paying staff
- Marketing
- Identify customer needs through market research
- Decide on appropriate pricing strategy and distribution channel
- Promote business/products/services
- Sales
- Communicate with existing and potential customers face-to-face, via email or telephone
- Pass on knowledge of product/service
- Take orders
- Meet all sales targets
- Human Resources
- Recruit new staff
- Training and development of staff
- Ensure pay & benefits are appropriate
- Oversee redundancies and dismissalsi
- Ensure HR legislation is met
- Operations or Production Management
- Transforming raw materials into finished goods
- Ensuring quality standards are met
- In a retail environment, operations is involved in shop floor work eg. stacking shelves, serving customers
- Customer Services
- Liaise with customers daily via letter, email, telephone, online messaging, etc.
- Handle & resolve queries/problems
- Business Support Services
- Responsible for administration relating to day-to-day running of the business
- Produce contract
- Maintain IT and other technical equipment
- Arrange meetings/organise travel plans
- Provide technical IT support
- Research & Development
- Develop new products/services
- Liaise with Marketing to find out customer needs
- Test out new products/servicest
- Purchasing/ Procurement
- Source and buy raw materials needed to make the products
- Source and buy other materials needed for the day-to-day running of the business eg. stationery
- Ensure good quality of purchases
- Finance
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