Review for Test #4

Functional Areas of a Business

100

What is the primary goal of the marketing function in a business?

To promote products or services, attract customers, and increase sales.

200

The research and development (R&D) function is primarily focused on:

designing new products or improving existing products

300

Free

Free

400

Which Function apply:

Managing the flow of raw materials and resources, and overseeing the manufacturing or creation of products. 

production 

500

• Which department is primarily responsible for hiring, training, and managing the workforce within an organization?

Human Resources

Roles and Functions of stakeholders

100

Name the external stakeholders 

Suppliers

Government

customers

The community 

200

A stakeholder that is dependent on the business for their job and income.

Employee

300

What is the primary concern of the community as a stakeholder in a business?

Ensuring that the company operates in a socially responsible and environmentally sustainable manner.

400

Which function influencing laws, regulations, and policies that affect the business environment

Government 

500

The main stakeholders. They have invested money in the business (their ‘stake’) and they look for a return on their investment in the form of dividends and an increase in the value (appreciation) of their shares in the business.

Owner/shareholder

Functional Areas of a Business

100

Name the 5 functional areas of a business

Finance

Production

Human Resources

Marketing

Research and Development 

200

what is the activity of the human resources (HR) function in a business?

Managing employee recruitment, training, performance, and compensation.

300

Which function promotes products and services, that attracts customers

Marketing

400

• Which Function manages the manufacturing or creation of goods and services

Production

500

• Which function is interested High-quality products or services at competitive prices

Customers 

Roles and Functions of stakeholders

100

How can community stakeholders influence a business?

By advocating for changes in the company's practices or holding it accountable through protests or petitions.

200

Name the Internal Stakeholders

Employees

Board of directors

Managers

300

The area of business that places the right product at the right place, at the right price at the right time and attracting the consumer to make a sale

Supplier

400

• The area of business that deals with the money management and money resource of the business operations

Finance 

500

A stakeholder that is dependent on the business for their supplies of finished goods, raw materials or services, and rely on them to supply them at an economic price, on time and in good condition.

Customer