1. Key Business Functions
Chapter 7
Key Business Functions

2. 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

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

4. 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

5. 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

6. 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.

7. 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