HKDSE BAFS: Key Business Functions
Information
... created by the processing and analysing of data.
Financial plan
A forecast of the financial needs of a firm. It shows how the firm obtains and uses funds to meet those needs.
Human resource management
Aspect of management that ensures that a company has an adequate amount of employees with suitable skills
Financial management
Aspect of management that refers to the the management of financial resources and financial obligations in order to achieve a firm's goals
Data
Raw facts
Debt financing
Refers to undo that are obtained from people or organisations other than the owners
4P
The 4 key elements of marketing strategy: Product, Price, Place, Promotion
Quality assurance
The aspect of inventory that aims to ensure that the goods and services provided by the firm are of high quality.
Marketing management
The aspect of management that deals with the processes of planning and executing marketing strategies so that a company can meet customer needs with its products and/or services better than competitors
Inventory management
The aspect of management that ensures inventories are in good condition and available whenever needed.
Operations management
The aspect of management that ensures that goods and services are produced efficiently and meet quality standards
Risk management
The aspect of management that helps a company assess and identify its exposure to various types of risk and develop methods to minimise losses
Information management
The aspect of management that supports a company's operations and decision-making by gathering, processing, storing and distributing useful information.
Production capacity
The maximum amount that a firm can produce
Financial obligations
The money that a person or a firm is committed to pay, particularly a debt.
Retained profits
The portion of a company's net income that is not distributed to owners or shareholders as dividends
Dividend
The returns that owners get for their investment in the firms.
Risk assumption
The strategy to assume and bear the risk of loss
Risk avoidance
The strategy to eliminate risk of loss
Risk reduction
The strategy to reduce the risk of loss
Risk transfer
The strategy to transfer the risk of loss to another party
Risk
The uncertainty or possibility of suffering a loss or mishap
Equity financing
This refers to the funds that are supplied by the owner(s) of a firm