10 Questions
What are the four departments of business mentioned in the text?
Human Resources, Finance, Operations Management, Marketing
What is the role of the finance department?
Functions like bookkeeping, budgeting, forecasting, management of taxes, and financial report preparations
What is the role of operations management?
Responsible for converting raw materials and components into finished goods, and providing services to customers
What is the main responsibility of the marketing department?
Identifying and meeting the needs and wants of customers, creating impressions and brand image
What are the key functions of marketing?
Product, Price, Place, Promotion, People, Processes, Physical evidence
What are the synonyms of business?
Business Firm, Company, Organization, Corporation, Franchise
What are the resources someone needs to start a business?
Finance resources, Entrepreneur skills, place/land, Labour
What is the difference between needs and wants?
Needs are fundamental requirements to survival, Wants are desires we seek to fulfill our happiness
What is a good?
Tangible products that can be seen or taken home
What is a service?
Intangible product that consumers don’t physically take home
Test your knowledge of the different departments within a business organization! This quiz covers key areas such as human resources and finance, including topics like talent management, employee compensation, budgeting, and financial reporting. Challenge yourself and see how well you understand the various functions that contribute to a company's success.
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