Audio Transcript Auto-generated
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Good morning learners.
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So today we'll be focusing on the eight business functions.
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This is under the macro environment topic in the business
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studies. So we'll be focusing on the eight business functions.
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These functions are the functions that make up a business
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in a business.
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There are different types of functions and then these functions
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are supposed to these departments work together to make sure
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that the business is perfect and meet its general needs
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and goals.
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So the first function will be looking at is the
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general management function.
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This function focuses on the entire business, its duties and
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it's responsible for formulating policies, managing general and daily operations,
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also planning the use of material.
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This means that for each and every business there has
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to be policies there and and rules that are hard
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hit. Uh two.
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So this part of the the the eight business functions
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focuses mainly on that in any other general operations of
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the business.
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And then the other, the second function will be looking
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at is the purchasing function.
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This function is responsible for identifying requirements for goods, material,
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materials and services, and also price negotiations.
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For example, they if if there's a supplier who's supposed
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to or if maybe our business has a supplier and
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then this supply is becoming expensive for us.
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We cannot afford whatever the supplies providing us.
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And then now we look at other suppliers, we look
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we compare the prices from our for our previous supply
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to our current supplier, and then these this function is
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responsible for that for identifying their required goods in the
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company. Which suppliers can we purchase from?
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Which materials can Are we are we supposed to purchase?
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What is it that we're running shot of in our
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business. And then now we'll be looking at the marketing
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function of the business.
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This function is meant to promote the business and then
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it also focuses on the mission of the business.
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What is the business going to?
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Where what are our goals?
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Where do we see ourselves?
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What is our mission?
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How are we going to to to make it a
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point that we adhere to our mission a mission that
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we have set out for ourselves.
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So this function focuses on that as well.
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And remember all these functions need one another in order
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to function.
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Then we'll be looking at the the administration function.
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The administration function oversees the general operations of the business
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or department.
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This includes problem solving, implementing of plans and meeting goals.
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So this ensures that whatever goal that we have said
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as as as a company or as a business, we
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reach that goal, meaning also that this function is responsible
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for problem solving.
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Remember we have a goal that we have set for
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ourselves, that you want to reach this goal and then
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before for each and everything that you want to achieve
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in life there are problems you don't just achieve it,
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so which is why you have to have the problem
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solving skills, which is what this function is responsible for.
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They are responsible for problem solving.
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And then how are we going to solve our problems?
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How are we going to embark on this journey of
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reaching our goals and all that?
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And then then that the other function will be the
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production function.
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This function focuses on the on building relationships between on
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and showing the relationship between the output and input used
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in production process.
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How what quantity do we need or quality do we
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need to produce this kind of a product?
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What is it that we need to produce?
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This kind of a product?
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And how are we going to get this?
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That this part of the function focuses only on production
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of the company, of the products that the company is
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we're selling and producing.
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Then we have the human resource function.
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The human resource function focuses and it also emphasizes on
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maximizing the employee productivity and the protecting and protecting the
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business from the problems that may arise within the workforce,
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meaning that if we have to hire new employees, this
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company is this function is responsible if maybe there's an
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employee that has to be uh suspended or fired.
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This function is irresponsible if maybe there's an employee that
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has been selected or so an employee that is ready
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for induction.
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This uh function is responsible for that.
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So the human human resource is for focuses on on
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the employment and the disciplinary and the firing of the
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employees in the business.
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Now, we're looking at the financial function of the business.
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This function is responsible for managing the company's money.
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This includes the risk involved, the funds to be obtained
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if we're opening this business and then we're having a
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business. What are the problems that we are we we
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are facing in terms of our money?
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Where is our money going?
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Are we making profits?
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Are we losing money?
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Are we supposed to add or apply for loans, generate
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more capital?
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All of that.
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All the financial problems of the company are dealt with
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in the financial a function of the business.
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And you should also remember that all these functions need
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one another in order to operate.
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And then now we will be focusing on the public
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relations function.
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The public relation functions focuses on maintaining the mutual relations
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between the public and the organization.
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If the organization or your business fails to have a
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relationship or does not build a relationship with the public
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possibilities of the business, uh, succeeding or expanding is very
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low because now the business does not have a relationship
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with the public.
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They do not know anything about the public.
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They don't know their customers, they are not aware of
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their competitors.
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They are not aware of what, what is on trend,
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what is not on trend, What has, is out of
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fashion and what is moving forward like?
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They know nothing about about the business that the public
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as a whole.
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What is the government expects expecting?
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Whether the people expecting they know nothing.
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So if they know nothing and if they like to
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maintain the business relations, then their business won't succeed.
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Which is why it is important for this department in
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the business to be there.
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Each and every business has to have their way the
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public relations department.
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Okay. And then that will be it for our presentation.
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I hope you understand everything and thank you