The three major business functions necessary for all organizations are __________.

Disable ads (and more) with a membership for a one time $4.99 payment

Prepare for the UCF supply chain midterm. Utilize flashcards, multiple choice questions, and detailed explanations. Ace your test with these comprehensive study tools!

The correct answer identifies the three major business functions as marketing, finance/accounting, and production/operations, which are essential for the overall functioning and success of any organization. Marketing is crucial as it involves promoting and selling the products or services, creating demand and understanding customer needs. Finance and accounting are vital for managing the organization's money, including budgeting, analyzing financial data, and ensuring profitability. Production and operations encompass the processes involved in creating products or delivering services, emphasizing efficiency and quality.

These three functions are interdependent; for instance, marketing decisions can influence production plans and financial management. Therefore, understanding how each function operates and interacts with the others is key for effective management and strategic planning within an organization.

The other choices do not encompass all three of these essential functions or mix distinct aspects that may not apply universally to all organizational contexts.