Business Activity, Marketing and People (OCR)

studied byStudied by 16 people
0.0(0)
Get a hint
Hint

Business activity 

1 / 35

36 Terms

1

Business activity 

Refers to the range of operations and functions that businesses undertake to generate revenue and sustain their operations.

New cards
2

Production Activities

Production activities involve the creation or procurement of goods and services that a business sells to its customers or clients.

New cards
3

Manufacturing

this includes the physical production of goods through assembly, processing, or construction.

New cards
4

Procurement

involves sourcing raw materials, components, or finished products from suppliers.

New cards
5

Quality Control

ensuring that products meet specified standards of quality before they are delivered to customers.

New cards
6

Inventory Management

managing stock levels to meet demand while minimizing costs associated with storage and obsolescence.

New cards
7

Marketing Activities

Marketing activities focus on promoting the products or services of the business to attract and retain customers, and to generate sales revenue.

New cards
8

Market Research

gathering and analyzing data about consumer preferences, market trends, and competitor activities.

New cards
9

Product Development

creating and refining products or services based on market research and customer feedback.

New cards
10

Promotion

advertising, sales promotions, public relations, and other communication efforts to raise awareness and generate demand.

New cards
11

Distribution

planning and managing the channels through which products reach customers effectively.

New cards
12

Finance Activities

Finance activities involve managing the financial resources of the business to ensure profitability, liquidity, and long-term sustainability.

New cards
13

Financial Planning

developing budgets, forecasts, and financial strategies aligned with business goals.

New cards
14

Capital Management

managing investments, debt, and equity to optimize the financial structure of the organization.

New cards
15

Risk Management 

identifying, assessing, and mitigating financial risks such as market risks, credit risks, and operational risks.

New cards
16

Financial Reporting

preparation and analysis of financial statements to provide stakeholders with accurate and timely information about the financial health of the business.

New cards
17

Human Resources (HR) Activities

Human resources activities focus on managing the workforce of the organization to maximize employee performance, satisfaction, and contribution to organizational goals.

New cards
18

Recruitment and Selection

attracting and hiring qualified individuals to fill job roles within the organization.

New cards
19

Training and Development

providing employees with the skills and knowledge necessary to perform their jobs effectively and to grow within the organization.

New cards
20

Performance Management

setting goals, evaluating performance, providing feedback, and rewarding employees based on their contributions.

New cards
21

Employee Relations

handling issues related to employee well-being, workplace culture, conflict resolution, and compliance with labor laws and regulations.

New cards
22

Administrative Tasks

The necessary tasks involved in the day-to-day operation of a business, including office management, record-keeping, and compliance with regulations.

New cards
23

Financial Management

The process of planning, organizing, directing, and controlling financial activities such as procurement and utilization of funds.

New cards
24

Human Resources Management

The strategic approach to managing people effectively to help the organization gain a competitive advantage.

New cards
25

Employee Relations

Handling issues related to employee well-being, workplace culture, conflict resolution, and compliance with labor laws.

New cards
26

Customer Relationship Management (CRM)

Building and maintaining strong relationships with customers through personalized marketing, support, and loyalty programs.

New cards
27

Sales Revenue

The income generated from selling goods or services, representing the primary source of revenue for a business.

New cards
28

Quality Assurance

Processes and procedures implemented to ensure that products or services meet established quality standards.

New cards
29

Training Programs

Educational initiatives aimed at improving employees' skills and knowledge for better job performance and career growth.

New cards
30

Risk Management

Assessing and mitigating various financial and operational risks to safeguard the business.

New cards
31

Employee Performance Management

Setting performance goals, evaluating achievements, and providing feedback and rewards to employees.

New cards
32

Promotion

Planning and executing campaigns to build brand awareness, attract customers, and stimulate demand.

New cards
33

Distribution Channels

Managing the pathways through which products or services reach the end customer.

New cards
34

Product Development

Collaborating with teams to design and enhance products that meet customer needs and differentiate from competitors.

New cards
35

Market Research

Conducting research to understand consumer behavior, preferences, and market trends.

New cards
36

Delivering

Ensuring products or services are available to customers when and where they need them through effective distribution.

New cards

Explore top notes

note Note
studied byStudied by 10 people
... ago
5.0(1)
note Note
studied byStudied by 5 people
... ago
5.0(1)
note Note
studied byStudied by 11 people
... ago
5.0(1)
note Note
studied byStudied by 4 people
... ago
5.0(1)
note Note
studied byStudied by 98 people
... ago
5.0(2)
note Note
studied byStudied by 56 people
... ago
5.0(4)
note Note
studied byStudied by 8 people
... ago
5.0(1)
note Note
studied byStudied by 15 people
... ago
5.0(1)

Explore top flashcards

flashcards Flashcard (29)
studied byStudied by 13 people
... ago
5.0(1)
flashcards Flashcard (167)
studied byStudied by 14 people
... ago
5.0(1)
flashcards Flashcard (147)
studied byStudied by 7 people
... ago
5.0(1)
flashcards Flashcard (41)
studied byStudied by 28 people
... ago
5.0(1)
flashcards Flashcard (95)
studied byStudied by 8 people
... ago
5.0(1)
flashcards Flashcard (90)
studied byStudied by 3 people
... ago
5.0(2)
flashcards Flashcard (42)
studied byStudied by 2 people
... ago
5.0(1)
flashcards Flashcard (24)
studied byStudied by 71 people
... ago
5.0(1)
robot