Exam 1: Business Functions and Business Processes

The functional area of Supply Chain Management (SCM)sets prices.

Choose an example company and give situations for each business process in the accompanying figure.Depending on your major or interest,choose one functional area of operation.

To avoid stockouts,manufacturers might carry extra raw materials known as ____________________.

One example of the business function that happens in the human resource area of operation would be ____________________.

Successful business managers view their business operations from the perspective of a(n):

Today's managers are beginning to think in terms of business process.A business process cuts across which functional areas of operation?

The business function of government compliance falls under the Supply Chain Management functional area of operation.

What departments are involved in the business process of selling a new smartphone?

A shortfall of raw materials is known as a(n)____________________.

A collection of activities that takes one or more kinds of input and creates an output that is of value to the customer is called a(n)____________________.

Accounts receivable are recorded by the Human Resources department (HR).

Historically,businesses have had organizational structures that separated the functional areas,but business schools have not been organized like that.

Describe the material order process in the accompanying figure:

The business process of Cash Flow Management is handled under the Accounting and Finance functional area of operation.

Which business function is performed by Accounting and Finance?

When purchasing a computer,the functional area responsible for handling the financial help for purchasing that computer is:

To avoid stockouts,manufacturers might carry extra raw materials.This excess is known as safety stock.