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Functions of A Business Lesson 2.6 Functions of a Business • • • 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 • • • • 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 : • • • • 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 • • • 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: • Explained what you learned and why it is important for all the functions of business to work together. • Team Member #1 (3-line paragraph) • Team Member #2 (3-line paragraph)