Question

What would you say are the major components of a business?

For example: income, stock, consumers/customers... what else?

5 months ago - 1 answers

Best Answer

Chosen by Asker

I'm not entirely sure what you mean, but I would answer the question like this:

There are several primary functions of a business:

Sales & Marketing
Operations
Finance & Accounting
Management
Human Resources
Technology

The sales and marketing function is responsible for dealing with customers and generating revenue. Operations deals with actually providing the products and services to customers. Finance and accounting keeps track of company transactions (accounting) as well as company financing via loans or stocks (finance). Management deals with managing people. Human Resources deals with hiring and firing people. Technology deals with any technology that any function of the organization might use.

A small business owner might have to handle most or all of these functions by him/herself. Larger organizations have lots of people working to make each function work.

5 months ago