Functions of A Business Lesson 2.6

Functions of a Business In a market economy, an entrepreneur is free to produce and offer to consumers any legal product or service. Knowledge of business activities will help entrepreneurs satisfy customers and make a profit. These activities or functions of business include the following Production Marketing Management Finance

Functions of a Business Each of these functions is dependent on the others in order for the business to be effective. Products can be produced, but if management is not functioning properly, if adequate financial records are not maintained, or if marketing is not getting the word out to consumers, the products probably will not be sold at a profit.

Lesson 2.6 Function of A Business NOTE: Textbook Reference: pg 47 Definitions for each below : Production: Marketing: Management: Finance:

Lesson 2.6 Function of A Business Give a clear real life example of each of the functions of business. Production – Marketing – Management – Finance -

Be You Own Boss You are planning to open a sandwich shop. You will begin to think about the four functions of business – production, marketing, management, and finance. Describe how each function will work together to ensure you run a successful sandwich shop. Place the powerpoint in google docs and share with the classmates.

Roundup: Explained what you learned and why it is important for all the functions of business to work together. Team Member #1 (3-line paragraph) Team Member #2 (3-line paragraph)