Business Studies

  • Created by: Finn R M
  • Created on: 18-10-21 16:55
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  • business in the real world
    • human resources
      • Human resources refers to the coordination of all issues relating to the people a business employs, to ensure that the business is able to operate. The human resources function of a business is responsible for all staff-related issues, including: the recruitment of new staff the induction, training and development of staff
      • Just a few of the related career titles for HR professionals include: Human resource management involves developing and administering programs that are designed to increase the effectiveness of an organization or business. It includes the entire spectrum of creating, managing, and cultivating the employer-employee relationship.
    • business operations
      • The purpose of business operations The term business operations refers to the part of the business that provides customers with the goods or services that they ordered. Operations is responsible for taking resources – such as raw materials, finance and the business’ workforce – and using them to create finished goods or services.
      • Operations for a brick-and-mortar store, for example, will look different from operations for an online retailer. The former will need point of sale terminals to process purchases, for example, while the latter will need e-commerce software that provides electronic shopping cart services.
      • It includes a wide variety Operations Management Operations management is a field of business concerned with the administration of business practices to maximize efficiency within the organization.
    • marketing
      • Marketing includes the thorough study and implementation of innovative ideas to help businesses in the creation of brand identity and communication.
        • promotion methods include: celebrity endorsement ,radio, television and billboards
      • The marketing mix deals with the way in which a business uses price, product, distribution and promotion to market and sell its product.
      • Marketing is about meeting the needs and wants of customers; Marketing is a business-wide function – it is not something that operates alone from other business activities; Marketing is about understanding customers and finding ways to provide products or services which customers demand.
    • finance
      • Finance is the basic of business. It is required to purchase assets, goods, raw materials and for the other flow of economic activities. Business finance can be defined as “The provision of money at the time when it is needed by a business”.
      • Business finance is a field of study that deals with how corporations, organizations and small businesses handle money.


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