OCR Bus: 7 Business Functions

How does the marketing department assist the finance department in a retail company?

• By providing insights on market trends and customer preferences

• By allocating funds for purchasing raw materials

• By developing and delivering software products

• By managing production schedules

Which department relies on the finance department to allocate funds for purchasing raw materials and machinery?

• Marketing

• Operations

• Human Resources

• Sales

How does the operations department assist the marketing department in a manufacturing company?

• By providing insights on customer demand

• By allocating funds for advertising campaigns

• By managing financial resources

• By conducting market research

What is the primary role of the Human Resources department in a business?

• Managing the production process

• Allocating budgets for salaries and benefits

• Conducting market research

• Setting pricing strategies

What is the primary consideration of the finance department when setting pricing strategies?

• Customer preferences

• Cost structures and profit margins

• Production capacity

• Market trends

What is the role of the finance department in product development?

• Conducting market research

• Assessing feasibility

• Evaluating costs and profitability

• Ensuring skilled employees

What is the primary purpose of risk management in business activities?

• To increase production costs

• To identify and manage risks associated with operations, finance, marketing, and human resources

• To reduce employee salaries

• To eliminate competition

What is the impact of balancing risks and rewards on business growth?

• It is not important for business growth

• It is essential for sustainable business growth

• It decreases business growth

• It eliminates competition

What does ROI stand for in financial analysis?

• Return on Investment

• Rate of Interest

• Revenue on Investment

• Return on Income

What is the purpose of liquidity ratios in financial analysis?

• To measure employee productivity

• To ensure the company has sufficient cash flow to meet short-term obligations

• To evaluate customer satisfaction

• To assess market competition