Business? acounting? marketing?

Question

k i need the definitions for those..what is business managment? acounting and marketing? can someone tell me the definition for those?

Answer 1

Hi,

There are long and short answers for these. I will give you the short.

Business managment is running a business. There is a lot of pieces of a business, advertising, bookkeeping, sales, marketing, manufacturing, ordering, delivery, and customer service are the ones I can think of off the top of my head.  All of these need to be organized and managed.  That is business management in a nut shell.  

Accounting is the bookkeeping.  That is keeping track of the money.  The sales and the profit or income.  There are a many things that go into that and different ways of doing it.

Marketing is advertising. Either the business as a whole, or each product. There are many types of marketing.

Many books on each of the above. Many things go into each.

Good luck, hope this helps a little. Mike

Answer 2

Marketing:

There are many different definitions of marketing. Consider some of the following alternative definitions:

“The all-embracing function that links the business with customer needs and wants in order to get the right product to the right place at the right time”

“The achievement of corporate goals through meeting and exceeding customer needs better than the competition”

“The management process that identifies, anticipates and supplies customer requirements efficiently and profitably”

“Marketing may be defined as a set of human activities directed at facilitating and consummating exchanges”

Which definition is right? In short, they all are. They all try to embody the essence of marketing:

• Marketing is about meeting the needs and wants of customers;

• Marketing is a business-wide function – it is not something that operates alone from other business activities;

• Marketing is about understanding customers and finding ways to provide products or services which customers demand

Business managment:

Benchmarking is the process of determining who is the very best, who sets the standard, and what that standard is. In baseball, you could argue that seven consecutive World Series Championships made the New York Yankees the benchmark.

If we were to benchmark "world conquest", what objective measure would we use to compare Julius Caesar to Adolph Hitler; Gengis Khan to Napoleon? Which of them was the epitome, and why?

We do the same thing in business. Who is the best sales organization? The most responsive customer service department? The leanest manufacturing operation? And how do we quantify that standard?

Accounting:

It is not easy to provide a concise definition of accounting since the word has a broad application within businesses and applications.

The American Accounting Association define accounting as follows:

"the process of identifying, measuring and communicating economic information to permit informed judgements and decisions by users of the information!.

This definition is a good place to start. Let's look at the key words in the above definition:

- It suggests that accounting is about providing information to others. Accounting information is economic information - it relates to the financial or economic activities of the business or organisation.

- Accounting information needs to be identified and measured. This is done by way of a "set of accounts", based on a system of accounting known as double-entry bookkeeping. The accounting system identifies and records "accounting transactions".

- The "measurement" of accounting information is not a straight-forward process. it involves making judgements about the value of assets owned by a business or liabilities owed by a business. it is also about accurately measuring how much profit or loss has been made by a business in a particular period. As we will see, the measurement of accounting information often requires subjective judgement to come to a conclusion

- The definition identifies the need for accounting information to be communicated. The way in which this communication is achieved may vary. There are several forms of accounting communication (e.g. annual report and accounts, management accounting reports) each of which serve a slightly different purpose. The communication need is about understanding who needs the accounting information, and what they need to know!

Accounting information is communicated using "financial statements"

What is the purpose of financial statements?

There are two main purposes of financial statements:

(1) To report on the financial position of an entity (e.g. a business, an organisation);

(2) To show how the entity has performed (financially) over a particularly period of time (an "accounting period").

The most common measurement of "performance" is profit.

It is important to understand that financial statements can be historical or relate to the future

Answer 3

Think of business management as the umbrella. It is the overall management of your business objectives. Under this umbrella, you'll find HR, Operations, Finance, Accounting, Marketing and so on...

Accounting

It is also the discipline of measuring, communicating and interpreting financial activity. Accounting is also widely referred to as the "language of business."

Marketing

It is the discipline of promoting, distribution of products and services, pricing and the overall product/service management of your business.