Basic Operations in Business

Manufacturing transforms raw materials into finished goods using tools, labor, equipment, and chemical processes. It enables profitable sales of goods and allows mass production through assembly-line methods and advanced technology. 

The finance function in a business involves obtaining and utilizing funds for optimal operations. Sources of finance include investors, retained earnings, debt capital, and equity capital. Debt capital is raised through loans, while equity capital is free from debt. Financing options can include investor funding for a startup that delivers groceries, for example.

Sales management involves planning, supervising, and controlling selling operations. It includes hiring, training, and motivating salespeople to meet marketing objectives. Sales management is crucial for generating profits and achieving business growth. Its goals include increasing sales volume, contributing to profits, and expanding the organization. For instance, a clothing company selling clothes or a stationery shop selling pens.

Marketing promotes products or services to stimulate buying or selling. It involves promotion, distribution, and delivery to customers. For instance, using catchy slogans to market a detergent.

Advertising is a paid form of marketing that aims to promote products or services through commercials or ads. Its goal is to reach potential buyers and persuade them to purchase. For example, a chocolate manufacturer may air TV commercials for its milk chocolate bar.