Key Business Functions Chapter 7 Key Business Functions

Important Functions of Business Low interest loan Financial management Human resources management Café de HK Marketing management Operations management Analysis Insurance Risk management Information management

Important Functions of Business Human resources management Financial management Operations management Marketing management Information management Risk management

Interrelationship of Business Functions Each business function plays an important role in helping a company to accomplish its __________. They are __________ in the daily operations of a company. Two major reasons for the interrelation of business functions: Support needed from other business functions Cooperate to implement business plans objectives interrelated

Interrelationship of Business Functions Support needed from other business functions A business function can only be executed effectively with ________ from other business functions. A business function often depends on other business functions to provide the required __________, resources and/or services. support information

Interrelationship of Business Functions The human resources department of a handbag firm recruits sales representatives for its stores and workers for its factory. A.F. Handbag Recruit- ment Workers in the factory produce handbags that are sold in stores. Sales representatives sell the handbags in stores.

Interrelationship of Business Functions Cooperate to implement business plans Business functions need to work together to carry out a business plan or to solve a business problem. Most business activities are complicated and can only be accomplished successfully by a group of people with different ________. expertise