Key functions/areas

• key internal functions in the areas of:

  finance, human resources, marketing, operations

  MUST FUNCTION TOGETHER FOR A BUSINESS TO BE EFFECTIVE
• internal stakeholders

  shareholders

  employees

  managers
• external stakeholders

  customers

  local community

  suppliers

  government

  pressure groups
• SWOT analysis

  evaluates the strengths, weaknesses, opportunities, and threats of a business or project.
• Finance functions

  responsible for - financial resources, financial position and performance of a business:

  monitoring financial resources

  investment control and evaluation
• Human resources function

  responsible for all aspects of managing the people in a business:

  management of employees

  training of employees

  communication
• Marketing functions

  understanding the needs and wants of consumers:

  product development

  pricing strategies

  distribution

  monitoring consumers and competition
• Operation functions

  transforming process that turns inputs (material, people) into finished goods or services:

  production facilities

  production scheduling

  quality control