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Business Activities (Business (A nonprofit business makes money to fulfill…
Business Activities
Business
A nonprofit business makes money to fulfill a specific mission or undertaking. The money it makes goes to support that mission.
Both for-profit and nonprofit businesses are organized efforts to produce and/or distribute goods, services, or ideas.
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Finance
Businesses need money to make money, and finance activities help them obtain that money.
They need money for land, equipment, supplies, employees, and overhead expenses.
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Management
Just having the money, hiring the workers, making/providing the product, and marketing/selling the product are not
enough.
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Operations
To provide a service, a business obtains the means for providing the service, and then provides the service to its customers.
Every business needs to produce or provide its product, whether that product is a good or a service.
To produce a good, a business obtains supplies for manufacturing, “makes” the good, and then distributes the good to a warehouse or other holding facility.
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Information Management
This will avoid the uncomfortable (and unprofitable) situation in which vital business information has been discarded or is unable to be
retrieved.
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