Question

Functions of business

Answer 1

Production function:Production is the creation of goods and services with the help of certain processes. Theproduction of goods depends essentially on the organisation of men, money, materials, and facilities into a smoothly operating business.

Answer 2

Answer:

Business functions - States about the classification of the set of operations and tasks to be accomplished under the whole functional departments. Business functions are the basic premise of any Organization that provides a set path to work accordingly for the clear and in a disciplined environment.

There are 5 major business functions -

•Planning - Having an advanced idea about What to do, How to Do and When to do. This is the first step to depicts the business vision and mission.

•Organizing - Accumulation of the resources to fulfill the requirements of the processing in the Organization. This allows understanding the needs and requirements of both raw materials as well as working staff to create a better working procedure.

•Staffing - Placing the right person, at the right time and right position to bring efficiency. This concern with the motive to brought up the skilled employees to the firm.

•Controlling - Keeping a track record on what was planned to work and how it's happening in real-time. This analysis of the overall conditioning of the frim as per the planning outlets.

And,

•Directing - Adjustment with the lag as well as putting effective measures to overcome. When we analysis the hurdles and the unfavorable situation in the firm and to bring the efficiency again directing places an important role.