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Chart Increasing

Unit 1 - Introduction To Business Management - QB

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Briefcase

Unit 2 - Human Resource Management - QB

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Money Bag

Unit 3 - Finance & accounts - QB

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Direct Hit

Unit 4 - Marketing - QB

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Factory

Unit 5 - Operations management - QB

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Bar-Chart

Unit 6 - Assessment

🎈 Overview: Whether a tiny startup or a gigantic corporation, all businesses organize around four core functions. Picture these as the four pillars that keep a business standing tall!

<ul>
	<li>What? The people behind a business.</li>
	<li>Example: Imagine if Google didn&#39;t hire talented coders, they wouldn&#39;t have an impressive search engine!</li>
</ul>

<ul>
	<li>What? How businesses showcase their products/services to the world.</li>
	<li>Example: Remember the catchy Nike slogan, &quot;Just Do It&quot;? That&#39;s marketing magic!</li>
</ul>

<ul>
	<li>What? The money-masters, making sure the business has enough funds and is spending wisely.</li>
	<li>Example: Think of this like your allowance. You can&#39;t buy that new game if you&#39;ve spent all your money on candy!</li>
</ul>

<ul>
	<li>What? The behind-the-scenes action of creating products or services.</li>
	<li>Example: McDonald&#39;s has to cook the burgers before you can eat them, right?</li>
</ul>

<ul>
	<li>Small businesses: Owners often juggle all four functions. Picture a one-man band playing multiple instruments!</li>
	<li>Large businesses: Can hire specialized managers for each function. Like having a full orchestra!</li>
</ul>

<ul>
	<li>These functions don&#39;t work in isolation; they dance together in harmony.</li>
	<li>Example: If the Marketing team spots that neon sneakers are trending, Operations needs to start making them, Finance needs to budget for neon materials, and HR might hire designers who love bright colors.</li>
</ul>

<ul>
	<li>Phase 1: Survival - All functions focus on staying afloat.</li>
	<li>Phase 2: Growth - Once steady, a business might expand. Think of Starbucks, from one shop in Seattle to global domination!</li>
	<li>Phase 3: Market Control - If super successful, a business may aim to be the top player. But watch out, staying on top needs smart strategy!</li>
</ul>

<ul>
	<li>The true test? How well these functions work together!</li>
	<li>Questions to Ponder: Is the business selling what people want? Are the right people making the product? Are they happy and well-rewarded?</li>
</ul>

<ul>
	<li>Small Businesses: Super agile, can change lanes quickly like a motorbike.</li>
	<li>Large Businesses: Have more resources and a known brand, like a big, sturdy truck.</li>
	<li>Caution: Big businesses can crash if they snooze at the wheel!</li>
</ul>

📚 Final Thought: Every business, big or small, relies on these core functions. It&#39;s like a puzzle; every piece must fit perfectly for the picture to be complete.

&nbsp;

Happy Studying! 🌟

Unit 1 - Introduction To Business Management - QB

Key Business Functions: The Pillars Of Success For All Sizes

Table of content

Human resources (HR)

Marketing

Finance & accounts

Operations management or production

Unlock the Full Content!

Unit 1 - Introduction To Business Management - QB

Key Business Functions: The Pillars Of Success For All Sizes

Table of content

Human resources (HR)

Marketing

Finance & accounts

Operations management or production

Unlock the Full Content!