Key functions of business organizations brief explanation of each​

Production.

the action of making or manufacturing from components or raw materials, or the process of being so manufactured.

  Research and Development (often abbreviated to R&D)

Research and development (R&D) includes activities that companies undertake to innovate and introduce new products and services. It is often the first stage in the development process.

  Purchasing.

acquire (something) by paying for it; buy.

  Marketing (including the selling function)

Marketing functions are the activities of buying, selling, transportation, storage, standardization and grading, financing, risk bearing and circulating market information. Such a list of marketing functions is more suitable to physical products.

  Human Resource Management.(HRM)

Human resource management (HRM or HR) is the strategic approach to the effective management of people in a company or organization such that they help their business gain a competitive advantage. It is designed to maximize employee performance in service of an employer's strategic objectives.

  Accounting and Finance.(Key Skills)

   self-motivation.

   integrity.

   ability to reflect on one's own work as well as the wider consequences of financial decisions.

   business acumen and interest.

   organizational skills and ability to manage deadlines.

   team working ability.

   communication and interpersonal skills.

   proficiency in IT.

Explanation:

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