Transcript ###Functional Areas of Business###

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Functional Areas of Business
What do the different parts of
a business do?
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Functional Areas of Business
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Human Resources
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Worker Representatives
• Staff Associations
• Trade Unions
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Customer Services
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Marketing/Sales
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Market Research
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What do customers want?
How much will they pay?
Can we provide the good/service at a profit?
Where will we find this information?
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Market Analysis
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Who do we sell to?
How much do we sell to different groups?
Are there new markets?
Who are our competitors?
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Market Strategy
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What price?
The product?
How do we make sure people know about us?
Where should we sell our products?
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Sales Team
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Local
Regional
National
International
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Research and Development
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Administration/IT Support
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Clerical work
• Reports on Meetings
• Reception
• Communications - e.g. receiving telephone
calls, greeting visitors
• Filing and Recording
• Sorting Mail
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Technical Support
• Hardware - e.g. computers
• Software support - e.g. accounts software
• Network Management
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Production/Operations
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Finance and Accounts
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Cash Inflows
• Revenue from sales
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Cash Outflows
• Paying for materials and equipment
• Wages
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Capital
• Loans
• Shares
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