Download Functions of A Business

Functions of A
Business
Lesson 2.6
Functions of a Business
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In a market economy, an entrepreneur is free to produce and offer to consumers any legal
product or service.
Knowledge of business activities will help entrepreneurs satisfy customers and make a
profit.
These activities or functions of business include the following
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Production
Marketing
Management
Finance
Functions of a Business
• Each of these functions is dependent on the others in order for the business
to be effective.
• Products can be produced, but if management is not functioning properly, if
adequate financial records are not maintained,
• or if marketing is not getting the word out to consumers, the products
probably will not be sold at a profit.
Lesson 2.6 Function of A Business
• NOTE: Textbook Reference: pg 47
• Definitions for each below :
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Production:
Marketing:
Management:
Finance:
Lesson 2.6 Function of A Business
• Give a clear real life example of each of the functions of business.
• Production –
• Marketing –
• Management –
• Finance -
Be You Own Boss
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You are planning to open a sandwich shop. You will begin to think about the four
functions of business – production, marketing, management, and finance.
Describe how each function will work together to ensure you run a successful
sandwich shop.
Place the powerpoint in google docs and share with the classmates.
Roundup:
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Explained what you learned and why it is important for all the functions of business
to work together.
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Team Member #1 (3-line paragraph)
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Team Member #2 (3-line paragraph)