5 Business Functions
Start-up Budget
A financial plan describing what will be needed to get a business up and running
Capital Budget
A financial plan used to secure buildings and equipment
Coordination
Making sure all the business functions are working towards the same purpose
Management
The bosses; the decision-makers
Budget
A written financial plan for business operations for a specific period of time
Organizing
Coordinating resources to implement a course of action
Production
Creating or obtaining products for sale
Production
Ensuring raw materials that go into the finished product are available
Controlling
Establishing standards of performance
Controlling
Evaluating performance
Planning
Evaluating the desired direction of the company
Balance sheet
Financial statement used to determine a company's financial health at a particular point in time (photo)
Income Statement
Financial statement used to report the difference between a company's revenue and expenses over a period of time (movie)
Directing
Influencing and overseeing staff behavior
Operations
Making sure there is paper in the copiers
Finance
Managing financial resources and records
Long-term planning
Starts in the present, works forward
Marketing
The creation and maintenance of exchange relationships
Operations
The day-to-day activities of an organization
Strategic planning
Works backwards from a desired end
