Coordinating the key business functions
solvency
a measure of long term financial stability i.e. can meet financial obligations in the longer term
differentiation
a unique aspect of the business's products
efficiency
achieving maximum output with a minimum level of inputs
promotion
activities to generate customer awareness of the business and their products
cost leadership
an approach to operations where the focus is to reduce costs in order to allow the business to compete on price and still maintain profits
transforming resource
an input used by the business that combines or alters other resources during operations processes
transformed resource
an input used by the business that is changed during operations processes
management
coodinating and intergrating activites to achieve business goals
debt finance
finance sourced from outside the business that must be repaid at some future date
equity finance
finance that is sourced from inside the business
profitability
increasing business returns through higher revenue or reduced costs
strategic goals
long term goals for the whole business
liquidity
the ability to pay debts in the short term
competitive advantage
the features of a business that provide it with an edge over its competitors and attracts customers
marketing
the key business function that connects the business with its market. It plans, prices, promotes and distributes want satisfying goods and services to customers
operations
the key business function that is involved in producing the business's outputs
finance
the key business function that provides the business with the financial resources to conduct activities
synergy
the output / outcome is greater than the sum of the parts
interdependence
the situation where the key business functions impact and rely on each other