Types of functions of business 1

Let's Begin
Think about starting a surfboard business that sells boards you design and make. Would your business be involved in production or procurement?
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Slide 1: Slide
Economie

This lesson contains 15 slides, with interactive quizzes, text slides and 1 video.

Items in this lesson

Let's Begin
Think about starting a surfboard business that sells boards you design and make. Would your business be involved in production or procurement?

Slide 1 - Slide

Chapter 6
Section 2:Types and functions of businesses
Pages 99-103

Slide 2 - Slide

Objectives
Identify the functions of businesses
Examine the importance of each functions
Discuss on interdependence of functions


Slide 3 - Slide

Functions of businesses
1.Production and Procurement
2.Marketing
3.Management
4.Finance and Accounting

Slide 4 - Slide

What are the functions of businesses?

Slide 5 - Mind map

Can we do without a function or are they all important? Give reasons.

Slide 6 - Mind map

1.Production is the process of creating, expanding,  manufacturing, or improving goods and services.
2. Procurement is the buying and reselling of goods that have already been produced. 
3.Marketing is the process of planning, pricing, promoting,
selling, and distributing ideas, goods, and services.

Slide 7 - Slide

Management is the process of achieving company goals by
planning, organizing, leading, controlling, and evaluating the
effective use of resources.
Finance is the business or art of money management. It
requires analyzing fi nancial statements to make future decisions. 
Accounting involves maintaining and checking records, handling bills, and preparing fi nancial reports for a business.

Slide 8 - Slide

Slide 9 - Video

Which function deals with the buying and reselling of goods that have already been produced?
A
Accounting
B
Management
C
Production
D
Procurement

Slide 10 - Quiz

How does the management function help the business?

Slide 11 - Mind map

The functional areas of business depend on each other.  If the products are too high-priced, then more effi cient procedures will have to be implemented. This will involve management and production. 

Slide 12 - Slide

Think a dress maker’s sales have been decreasing. The accounting and finance departments have noted the drop in sales. How will you help to manage the drop? Which department will be involved?

Slide 13 - Mind map

Do you think there will a conflict between the different functions of the businesses?Explain

Slide 14 - Open question

Ask questions to your friends and give the output here.

Slide 15 - Mind map