1. IB Business and Management
Business Functions
IB Business and Management

2. Recap - Questions What is a business? What does a business do?
What is the difference between a good and a service?
What are the 4 factors of production?

3. Learning Outcomes The main business functions and their roles:
Human Resources
Finance and Accounts
Marketing
Operations (AO2)

4. What different departments might a typical business have?
Why do businesses need to split into different functional areas (departments)?
What different departments might a typical business have?

5. R&D Business Functions Finance Operations
Sales and Marketing
Procurement
R&D
Human Resources
Finance
Operations
Customer Service
Businesses may have some or all (plus more) of these departments depending on its size and the nature of the business

6. The four departments you have to study in-depth are…..
Marketing
Finance
Human Resources
Operations Management

7. Task – Collective memory
In groups of 3
Each person from your group is going to take it in turns to have a 15 second look at a diagram
You must return to your group and fill in as much detail as you can

9. Task - 2 mins each
Write a list of all of the tasks that are the responsibility of the…
Marketing Department
Finance Department
Human Resources (Personnel) Department
Operations (Production) Department

10. Very important Point….
Although we often study these functions separately, they are very much Interrelated……
They have to work together and communicate for business success

11. Lets look at some examples…..
In the following scenarios what would each of the four functions need to do?

12. The company want to launching a new product in 6 months time

13. A popular tv channel screens a program which exposes the cereal market for marketing unhealthy products to children

14. The company has decided to close down a factory in America in order to move production to Brazil where labour is cheaper