In this video, we investigate what a production department does. A production department is responsible for the process of creating and manufacturing a company's products or services. It involves various functions such as planning, scheduling, quality control, and overseeing the assembly or production process. The department ensures that production runs efficiently, meeting quality standards, and adhering to timelines. The production department's primary objective is to produce goods or deliver services effectively, on time, and within budget, contributing to the company's overall success and profitability. ►Become a FREE SUBSCRIBER to TWO TEACHERS now: https://www.youtube.com/c/TwoTeachers?sub_confirmation=1 ►Check out our website for lots of educational business resources https://www.twoteachers.co.uk Remember to hit subscribe & turn notifications on (bell icon) so you never miss a video! #production #functionalareas #businesseducation

In this video, we explore why businesses expand globally and what are the advantages of becoming a Multinational Company. Businesses expand globally for several compelling reasons. Firstly, international expansion allows them to access new markets and customer segments, often with greater growth potential than their domestic market. Secondly, global expansion can help diversify risk by reducing dependence on a single market or region. Globalisation enables organisations to stay competitive in a rapidly changing world, fosters innovation, and can result in improved brand recognition and prestige on the global stage. ►Become a FREE SUBSCRIBER to TWO TEACHERS now: https://www.youtube.com/c/TwoTeachers?sub_confirmation=1 ►Check out our website for lots of educational business resources https://www.twoteachers.co.uk Remember to hit subscribe & turn notifications on (bell icon) so you never miss a video! #internationalbusiness #multinationalcompany #businesseducation

In this video, we investigate what a marketing department does. The marketing department within an organisation is responsible for a range of functions aimed at promoting the company's products or services, attracting and retaining customers and increasing brand visibility. It conducts market research and promotion. Marketing teams create and manage advertising campaigns, social media and online presence, public relations and branding efforts. They also track the performance of marketing initiatives, analyse data to assess their effectiveness, and make necessary adjustments. ►Become a FREE SUBSCRIBER to TWO TEACHERS now: https://www.youtube.com/c/TwoTeachers?sub_confirmation=1 ►Check out our website for lots of educational business resources https://www.twoteachers.co.uk Remember to hit subscribe & turn notifications on (bell icon) so you never miss a video! #marketing #marketresearch #businesseducation

In this video, we investigate what a finance department does. A finance department is a functional area within an organisation and is responsible for managing the financial activities and resources to ensure the company's financial health and stability. It oversees various functions, including budgeting, financial planning, accounting, financial reporting, and financial analysis. It provides essential insights and data to support informed business decisions, ultimately contributing to the organisation's financial success and sustainability. ►Become a FREE SUBSCRIBER to TWO TEACHERS now: https://www.youtube.com/c/TwoTeachers?sub_confirmation=1 ►Check out our website for lots of educational business resources https://www.twoteachers.co.uk Remember to hit subscribe & turn notifications on (bell icon) so you never miss a video! #finance #financial #businesseducation

In this video, we investigate tariffs. Tariffs are taxes or duties imposed by a government on imported or exported goods. They are designed to regulate international trade by increasing the cost of foreign products entering a country's market, making domestic products relatively more attractive to consumers. Tariffs can serve various purposes, such as protecting domestic industries from foreign competition, generating government revenue or addressing trade imbalances. ►Become a FREE SUBSCRIBER to TWO TEACHERS now: https://www.youtube.com/c/TwoTeachers?sub_confirmation=1 ►Check out our website for lots of educational business resources https://www.twoteachers.co.uk Remember to hit subscribe & turn notifications on (bell icon) so you never miss a video! #tariffs #internationalbusiness #businesseducation

In this video, we investigate trading blocs. A trading bloc is a group of countries that join together to promote economic cooperation by reducing trade barriers, such as tariffs and quotas, between member nations. These agreements aim to boost trade among the participating countries, stimulate economic growth and enhance their collective bargaining power in international trade negotiations. Trading blocs can take various forms, from free trade areas where internal barriers are eliminated but each member maintains its own external trade policies, to customs unions and common markets that involve deeper levels of economic integration, such as tariffs and the free movement of goods, services and labour across borders. ►Become a FREE SUBSCRIBER to TWO TEACHERS now: https://www.youtube.com/c/TwoTeachers?sub_confirmation=1 ►Check out our website for lots of educational business resources https://www.twoteachers.co.uk Remember to hit subscribe & turn notifications on (bell icon) so you never miss a video! #tradingblocs #internationalbusiness #businesseducation

In this video, we explore mass markets. Mass markets encompass the larger, more generalised consumer or business segments within an industry or market. These markets are characterised by a broad range of products, services and customer preferences. They often involve stiff competition, diverse demographics and a need for mass appeal. Success in mass markets typically requires scale, efficient production and broader marketing strategies to reach a wide audience. Businesses catering to mass markets aim to capture a larger share of the overall consumer base and leverage economies of scale to offer products and services at competitive prices while meeting the needs of a diverse customer base. ►Become a FREE SUBSCRIBER to TWO TEACHERS now: https://www.youtube.com/c/TwoTeachers?sub_confirmation=1 ►Check out our website for lots of educational business resources https://www.twoteachers.co.uk Remember to hit subscribe & turn notifications on (bell icon) so you never miss a video! #marketing #nichemarket #businesseducation

In this video, we explore the role of importing. Importing refers to the process of bringing goods and services into a country from foreign sources. It involves the purchase of products or materials from international suppliers or producers to meet domestic demand or expand a business's product offerings. Importing plays a crucial role in the global economy, allowing countries to access a wider range of products, raw materials, and resources that may not be readily available domestically. ►Become a FREE SUBSCRIBER to TWO TEACHERS now: https://www.youtube.com/c/TwoTeachers?sub_confirmation=1 ►Check out our website for lots of educational business resources https://www.twoteachers.co.uk Remember to hit subscribe & turn notifications on (bell icon) so you never miss a video! #internationalbusiness #imports #businesseducation

In this video, we investigate what a HR department does. A Human Resources (HR) department plays a crucial role in an organisation by managing various aspects of the employee lifecycle. This includes recruitment, training and development, performance evaluations, employee relations and compliance with labour laws and regulations, ultimately contributing to the overall success and growth of the company. ►Become a FREE SUBSCRIBER to TWO TEACHERS now: https://www.youtube.com/c/TwoTeachers?sub_confirmation=1 ►Check out our website for lots of educational business resources https://www.twoteachers.co.uk Remember to hit subscribe & turn notifications on (bell icon) so you never miss a video! #HR #humanresources #businesseducation