What is Administration
Involves Recording and Organizing information so that a Business can run Successfully
What are some Characteristics of Centralized Administration
- All information is kept at Head Office
-Advantage - All Info kept at Same place and same Filing System
-Disadvantage - Might be a Lengthy process to access all information
What are some Characteristics of Decentralized Administration
- All Information is kept under Individual Branches
-Advantage - All Information can be Accessed Easily
-Disadvantage - No Uniformity in the Administrative process
What is the Main Objective of the Marketing Department
- Main Objective is to identify customer needs and wants and then bring those products to the Market.
What are the 4 P,s of Marketing
- The Product the Customer Buys
- The Price the Customer Pays
- The Place where is it Distributed from
- The Promotion techniques used to Persuade a Customer in to buying a Product.
What is the Financial Departments Responsibilities
- Recording Financial Transactions
- Repairing Financial Statements
- Producing Account info for managers
- Making Important Financial Decisions
What are Advantages and Disadvantages of a Bank loan
Advantage - Quick To Arrange
Disadvantage - A Bank loan will have to be repaid eventually and interest must be Paid.
What are Advantages and Disadvantages of an Overdraft
Advantage - Quick and Easy way to raise Cash
Disadvantage - Higher interest rate than a Loan and must be paid back within 3 months otherwise higher interest is charged
What are Advantages and Disadvantages of Trade Credit
Advantage - It is almost an Interest Free loan to a business for a Length of Time
Disadvantage - The Supplier might refuse discounts or even refuse to supply any more goods if payment is not made.
What is the Public Relation Functions Responsibility
Responsible for creating a good public image for a Business and keeping them happy
What is the Humans Resources Function
Responsible for attracting new employees into a Business.
What are the 4 main tasks of a Human Resource manager
- Recruitment
- Selection
- induction
- Training and Development
What is the Importance of the PR
manages an organization’s reputation, builds and maintains relationships with stakeholders, and shapes public perception
What are 4 methods of PR
- Press Release
- Direct Contact
- Exhibitors
- Social Responsibility
What is the Production function
Involves the Process by which Raw Materials are transformed into finished goods of High Quality to meet demand of customers
What is General Management in a Business
Coordinates all the Activities in a Business as well as the employees, this is done to ensure the business runs smoothly.
What are the 3 different levels of management
Top , Middle and Lower management
