WHAT IS A BUSINESS 

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WHAT IS A BUSINESS 

ORGNAISATION INVOLVED IN:

PRODUCT OF GOOD / SERVICE

PROVISION GOOD / SERVICE

PRODUCT GENERAL TERM INCLUDE GOOD / SERVICE

GOOD IS TANGIBLE 

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WHY BUSINESS EXIST

PEOPLE / ORGANISATION NEEDS & WANTS

BUSINESS AIM SATISFY - MAKE PROFIT

EARN RETURN INVESTMENT 

NEEDS - FOOD / WATER / WARMTH

WANT - TECHNOLOGY / NEW CLOTHES 

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BENEFITS

EMPLOYMENT

WEALTH CREATION

NEW PRODUCTS

SOURCE INNOVATION / REPUTATIONAL IMAGE

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PRODUCTS - CONSUMER GOODS

CONSUMER GOODS:

SATISFY NEEDS / WANTS 

MADE FOR HOUSEHOLD

CREATE FLOW IN SERVICE

 

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PRODUCTS - PRODUCER GOODS

PRODUCER GOODS

PRODUCTION PROCESS

OFTEN HELP MAKE CONSUMER GOODS

MAKE MORE GOODS

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CONSUMER VS CUSTOMER

CONSUMERS - USE 

CUSTOMERS - BUY

PARENT - CUSTOMER BUY TOY FOR CHILD CONSUMER

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ENTREPENEUR

PERSON WILLING TAKE RISK

INVEST OWN MONEY

ORGANISES ELEMENTS PRODUCTION

REQUIRES: PERSISTENCE / SKILL / JUGEMENT / LUCK

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MARKETS

INDUSTRIAL - MANAFACTUED PRODUCTS E.G. CAPITAL GOODS

CONSUMER - GOODS / SERVICES E.G. CLOTHING

COMMODITY - PRIMARY PRODUCTS / RAW MATERIALS E.G. COAL

FINANCIAL - DEALING WITH MONEY E.G. BANKING

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CONSUMER MARKETS

FAST MOVING CONSUMER

HIGH VOLUME / LOW UNIT VALUE / FAST REPURCHASE

CONSUMER DURABLES

LOW VOLUME / HIGH UNIT VALUE

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NATURE OF BUSINESS ACTIVITY

3 STAGE PROCESS

INPUTS - E.G. RAW MATERIALS

TRANSFORMING THEM INTO

OUTPUTS - E.G. PRDOCUTS

TRANSFORMING ALSO ADDING VALUE

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MAIN CATEGORIES OF INPUTS

LAND / NATURAL RESOURCE - FIELDS BUILD FACTORIES

LABOUR - EMPLOYEES OPERATE MACHINES

CAPITAL - PLANT / MACHINERY / COMPUTERS

ENTREPENEURSHIP - PEOPLE PREPARED INVEST / MANAGE BUSINESS

BUISNESS SENSE DIRECTION

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TRANSOFRMATION PROCESS

PURCHASE INPUTS TRANSFORM OUTPUT

PRODUCTIVE EFFICENCY - HOW WELL ORGANISED DETERMINE BUSINESS SUCCESS 

OBJETIVE PRODUCTION PROCESS CREATE GOODS / SERVIES MEET NEEDS / WANTS CUSTOEMRS

PRODUCE - SHORT TIME BEST QUALITY COMPETITIVE PRICE

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MAIN STAGES PRODUCTION

PRMARY - RAW MATERIALS EXTRACTED & PROCESSED

SECONDARY - TRANSOFORM PRIMARY RESOURCES FINSHED PROCUTS "ADDING VALUE"

TERTIARY - PRODUCTION & DELIVERY OF SERVICES 

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