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