Marketing: Business Functions

Capital Budget

A financial plan used to secure buildings and equipment

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

Controlling

Establishing standards of performance

Controlling

Evaluating performance

Marketing

The creation and maintenance of exchange relationships

Management

The bosses; the decision-makers

Operations

The day-to-day activities of an organization

Production

Creating or obtaining products for sale

Finance

Managing financial resources and records

Coordination

Making sure all the business functions are working towards the same purpose

Budget

A written financial plan for business operations for a specific period of time

Start-up Budget

A financial plan describing what will be needed to get a business up and running

Balance sheet

Financial statement used to determine a company's financial health at a particular point in time (photo)

Planning

Evaluating the desired direction of the company

Strategic planning

Works backwards from a desired end

Long-term planning

Starts in the present, works forward

Organizing

Coordinating resources to implement a course of action

Operations

Making sure there is paper in the copiers

Production

Ensuring raw materials that go into the finished product are available