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Research, identify, and discuss the six key functions of a business’s operations.
The requirements below must be met for your paper to be accepted and graded:
- Write between 500 – 750 words (approximately 2 – 3 pages) using Microsoft Word.
- Attempt APA style, see example below.
- Use font size 12 and 1” margins.
- Include cover page and reference page.
- At least 60% of your paper must be original content/writing.
- No more than 40% of your content/information may come from references.
- Use at least two references from outside the course material, preferably from EBSCOhost. Text book, lectures, and other materials in the course may be used, but are not counted toward the two reference requirement.
Reference material (data, dates, graphs, quotes, paraphrased words, values, etc.) must be identified in the paper and listed on a reference page.Reference material (data, dates, graphs, quotes, paraphrased words, values, etc.) must come from sources such as, scholarly journals found in EBSCOhost, online newspapers such as The Wall Street Journal, government websites, etc. Sources such as Wikis, Yahoo Answers, eHow, etc. are not acceptable.
While there will be fundamental differences in how businesses operate, there are six key functions that all businesses need to address just as part of doing business. We will identify and discuss these key functions below.
- Financial/Records Management – includes things such as bookkeeping, insurance and recordkeeping
- Legal Management – need to be sure all the operations of the business are legal such as business licenses, contracts with suppliers, and organized under the correct legal form business
- Operations Management – someone needs to be responsible for running the business on a day-to-day basis
- Marketing/Advertising – need to make sure customers know about the businesses products or services either by radio, TV, print, etc.
- Office Management – need to have a space to operate the business and the right equipment to achieve its tasks.
- Production – needs to be a production process in place to satisfy the customers’ needs