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How do you define a business?

The term business implies to an organization or enterprising entity that is engaged in any form of commercial, professional or industrial activities. Businesses can be for profit entities or they can also be for non- profit organizations which operate to fulfill a charitable mission or some kind of a social cause. Businesses range in scale from sole proprietorships to international corporations and also it can range from small size to large scale firms. The term Business Homework Help can also be utilized in terms of defining the effort as well as activities of the individuals to produce and sell goods and services for profit. As a matter of fact, the terms business can have its take on two diverse meanings. The first meaning implies to any entity which operated for the industrial, commercial or professional reasons. The entity usually initiates with a concept and a name. Also, an extensive nature of research on market is needed for knowing how feasible it is to turn the idea into a business. Businesses at times, require business plans before they can start their operations. A Business Homework Writing Help plan is a formal document which provides the outline of the goals and objectives of an organization. It also aids in listing the tactics as well as the ways it plans in achieving the objectives and goals in order to succeed. It is also significant to determine the legal structure of the business given that business owners might need to secure permits as well as licenses and follow registration requirements for beginning of their legal operations.

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What is the role of the business?

To put forth directly and in a simple manner, the role of businesses is to produce as well as distribute goods and services for satisfying the public needs or demands. As per the report of Business News Daily, corporate social responsibility (CSR) is a part of business practice which involves participation in terms of initiatives that can actually benefit the society. However, the corporate social responsibility is more than just any simple business practice. When one pursues the study of MBA or Master of Business Administration, they are expected to learn how to distinguish the blurred lines of working for benefit and work to aid in terms of maintaining the social order. Society does not exist without a form of economy and businesses are the foundation of an economy making the economic system of the whole world. Corporations or Firms can enact corporate social responsibility in several manners. The CSR as a business practice involves putting specific funds towards organizations or people who need their aid. Some corporations put few parts of their proceeds towards programs which feed the hungry, others toward firms that clean up the ecosystem. Businesses are also expected to maintain a specific level of responsibility in the manner they run their operations. A form can be perceived as ethically accountable if it knowingly brings harm to the environment or that if their Business Homework Help strategies cause the employees to be treated in an unfair manner. As the world has become increasingly connected, the customers have developed more concerns for the ethics behind the goods as well as services that they purchase. Consumers are not only the ones who are looking for socially responsible corporations; however, employees are doing the same.

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What are the main functions of business?

Regardless of their type, that is to state, private, not- for- profit, government and so on, business size or their financial position, all businesses comprise of 3 basic functions which run the businesses. Those three functions are operations, marketing, and finance. Whether the business type is retail, manufacturing, hospital or others, whether the business size is small, enterprise or that their position is different, they all have a basic function as mentioned above. The operations function is the key function of any business and it concerns about the production of goods as well as services. Goods are something known as tangible (physical) which is created from raw materials as well as parts that are like motherboard. Services are something which are intangible which give some sort of psychological value or mixture of location or time like healthcare and education. The function of finance of a business concern about securing the financial resources as well as allocating those resources to a diverse part of the organization. Also, finance function concern about budgeting as well as provision of the required finds to the other functions of the firms like operations and marketing.

 

The marketing function of a firm concerns about the promotion of goods as well as services and making sure about the availability of the consumers for the business. The marketing function have a lot of roles, and one of them is to understand the needs and the requirement of the consumer as well as to make sure that the goods and services meets the needs of the consumer.

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What is the most important role in business?

In any business there are staffs with a lot of duties. Since some people must wear the “several hats”, it is of utmost cruciality that the duties and responsibilities are clearly identified. These roles are of utmost significance in a business: operations manager; this individual is the leader who has to overlook towards the whole operation function of the business for the financial success of the firm. Quality control, environment manager and safety are a key function in any business specifically the ones which deal with food products. In a small business, one individual generally would be accountable for handling the EPA compliance, OSHA compliance and so on. The accountant manager holds responsibility for another key function; they look after the monthly income statements as well as balance sheets, receivables, payroll as well as managing the cash. The key function here is the responsibility of managing the cash that the organization receives.

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