The Business Framework

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Business Functions

Finance - Responsible for the money coming in and out of the business

Marketing - Responsible for establishing the potential demand for a product/service and for creating customer awareness of the availibiilty of a product

Operations - Responsible for the production which will involve production scheduling, ordering raw materials in order to maintain production and ultimately the finished product.

Human Resources - Repsonsible for calculating the number of staff required, recruting and selecting staff, training, motivation and health and safety.

IT and Adminmistration - Responsible for the paperwork side of the business which would include reception, management of incoming and outgoing of post and compliation of the documents. Also responsible for delivery of computer training and maintenance of technological equipment.

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Functional Variations

Size and Scale - how much of the product you are going to sell

Activities of business - what they sell, goods or services

Type(s) if business - your target market

Needs of customers - what they want/need to buy

Preference of owner (s) - How much they want to be involved in each function

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Business Aims

Aims are the long-term goal(s) a business will try to achieve. They will try to achieve one or more aim.

They must be different according to the size and activity of the business.

Common Buisness Aims

  • Customer Satisfaction
  • Ethically and socially responsible
  • Profit
  • Sales Growth
  • Customer Satisfaction
  • Environmentally Frriendly
  • Survival
  • Expansion
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Aims and Objectives


  • Profit
  • Survival
  • Sales Growth
  • Expansion
  • Customer Satisfaction
  • Environmentally Friendly
  • Ethically and Socially Responsible


Objectives are smaller tasks that help you achieve your aim.

Objectives need to be SMART

Specific, Measurable, Achieveable, Realsitic and Time specific.

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Stakeholder - an individual or organisation that has an interest in, or influence on a business  organisation.

Internal Stakeholders

  • Employees
  • Managers
  • Shareholder
  • Owners

External Stakeholders

  • Customers
  • Suppliers
  • Local Community
  • Government
  • Land owners
  • Bank/Lenders
  • Pressure group
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Stakeholder Conflict

Pressure Groups vs Shareholders

  • the pressure groups want the shareholders to do things a certain way however this shareholders don't want to do it that particular way this could be because itcosts more moeny or takes more time.

Customers vs Managers

  • The customers want to get products at cheaper prives however managers want to make a bigger profit.

Local Community vs Managers

  • The managers may want an expansion however this will affect the local copmmunity as it may cause more traffic etc.
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