A business has to perform a number of function in order to achieve its objectives. One of the major function of business is to produce goods from raw materials.Here the major function of business can be identified as follows:
(1)Organizing function:One of the major function of business is organizing function.Man,machine,materials,machines and money are essential factors for any business.So organizing function accumulates and coordinates all the necessary factors of business.
(2)Financing Function:Finance is the Life -blood of any business.The availability of factors of factors of production depends upon the availability of finance.So every business needs finance for its sucess.Hence under this function required capital is estimated,accumulated and properly utilized.
(3)Production function:Production function is another important function of business.Converting raw materials into finished products to satisfy human wants by creating utility is known as production.Under this function raw materials and semi-finished product are procced and assembled to create utility.
(4)Marketing Function:The function of business is not complete with the production of goods and services only.The main goal of production is to satisfy human wants through the consumption of goods and services
(1)Organizing function:One of the major function of business is organizing function.Man,machine,materials,machines and money are essential factors for any business.So organizing function accumulates and coordinates all the necessary factors of business.
(2)Financing Function:Finance is the Life -blood of any business.The availability of factors of factors of production depends upon the availability of finance.So every business needs finance for its sucess.Hence under this function required capital is estimated,accumulated and properly utilized.
(3)Production function:Production function is another important function of business.Converting raw materials into finished products to satisfy human wants by creating utility is known as production.Under this function raw materials and semi-finished product are procced and assembled to create utility.
(4)Marketing Function:The function of business is not complete with the production of goods and services only.The main goal of production is to satisfy human wants through the consumption of goods and services
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