Businesses have several different Functions
Production- A business turns raw materials into a finished good or service that they can sell. They must also monitor the quality of what they are producing.
Finance- Businesses have to keep a careful eye on their finances. They must keep detailed and accurate financial records. A business must try to get the best value for money for every pound it spends.
HRM- Businesses must make sure they have the right number of employees of the right quality in the right place at the right time.
Marketing- Businesses have to identify what customers want or need and figure out how best to sell it to them.
Admin- Businesses have to run their own affairs as efficiently as possible.
R&D- Businesses may need to discover new ideas for products that might be wanted in the future, and get them ready to be launched onto the market.
Businesses need to coordinate all their different functions and departments and make sure that all the departments are working towards common objectives.
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