Scribd Logo
Upload

Welcome to Scribd!

  • 33 views

    Intr - Bus Chap 1

    Uploaded by

    kaiparaghu
    This document provides an introduction to business concepts. It defines business as a profit-seeking activity that provides goods and services to satisfy consumer needs. It explains that studying business is important to understand how to run a business and learn about various career opportunities. Finally, it outlines key business terms like profit, not-for-profit organizations, and different types of businesses including goods-producing, service-providing, local, national, and multinational businesses.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PPT, PDF, TXT or read online from Scribd

    Intr - Bus Chap 1

    Uploaded by

    kaiparaghu
    33 views18 pages
    This document provides an introduction to business concepts. It defines business as a profit-seeking activity that provides goods and services to satisfy consumer needs. It explains that studying business is important to understand how to run a business and learn about various career opportunities. Finally, it outlines key business terms like profit, not-for-profit organizations, and different types of businesses including goods-producing, service-providing, local, national, and multinational businesses.

    Original Title

    Intr.bus Chap 1

    Copyright

    © Attribution Non-Commercial (BY-NC)

    Available Formats

    PPT, PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    This document provides an introduction to business concepts. It defines business as a profit-seeking activity that provides goods and services to satisfy consumer needs. It explains that studying business is important to understand how to run a business and learn about various career opportunities. Finally, it outlines key business terms like profit, not-for-profit organizations, and different types of businesses including goods-producing, service-providing, local, national, and multinational businesses.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PPT, PDF, TXT or read online from Scribd
    Download as ppt, pdf, or txt
    33 views18 pages

    Intr - Bus Chap 1

    Uploaded by

    kaiparaghu
    This document provides an introduction to business concepts. It defines business as a profit-seeking activity that provides goods and services to satisfy consumer needs. It explains that studying business is important to understand how to run a business and learn about various career opportunities. Finally, it outlines key business terms like profit, not-for-profit organizations, and different types of businesses including goods-producing, service-providing, local, national, and multinational businesses.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PPT, PDF, TXT or read online from Scribd
    Download as ppt, pdf, or txt
    of 18

    WELCOME

    INTRODUCTION TO BUSINESS

    Summer Semester 2009-10


    What is BUSINESS?

     A profit-seeking activity that provides


    goods and services that satisfy
    consumer needs.
     It is the commercial activity
    undertaken by organizations which
    produce and supply goods and
    services.
    2
    Why to study BUSINESS?
     We are involved in some kind of business
    transaction in our day-to-day life. It is
    necessary to know what business is.
     To know how to run a business so that one can
    become a business man.
     To know the job opportunities available in
    various fields like Accounting, Marketing,
    Finance, Economics, and Human Resource
    Management.
    3
    What is the role of BUSINESS?

     To Society/People:
     provides Jobs

     Housing, clothing, food,

     transportation, communication, health care

    Contd..5

    4
    contd.. Role of business
     To Economy/Country: money/tax collected by
    the government from business operations is
    used for
    building roads,
    schools, colleges
    parks, research centers etc.

    This helps to develop the economy reflected in


    standards of living and quality of life of people.
    5
    Few important terms or concepts

    1. Profit: Money left over after all the


    expenses deducted from revenue
    generated by selling goods and
    services. Price-Cost = Profit.

    2. Not–for–profit–organizations: Firms
    whose primary objective is not ‘profit’
    Ex: schools, colleges, hospitals, etc.

    Contd.. 6
    Contd..few important terms or concepts

    3. Labor-intensive business: Business in


    which labor costs are more than capital
    costs. Eg: Shipping Business
    4. Capital-intensive business: Business
    which requires large investment in capital
    assets. Eg: Airlines, telecommunication
    companies and automobile manufacturing
    companies

    7
    Classification of Businesses
     Goods-producing business: produce
    tangible goods by engaging in activities such
    as manufacturing, mining and agriculture.
    Ex. car, Pen, Paper, Clothes, fruits, etc.
     Service-providing business: produce
    intangible products. These include business
    that provides services like utilities,
    insurance, transportation, health care, etc.

    8
    Types of Businesses

    1. Local business: Business carried on a


    small scale within the boundaries of the
    city or the state. This business does not
    have branches anywhere else.
    2. National business: Business carried out
    at national level within the boundaries of
    a country. It does not have any branches
    outside the country.
    Contd.. 9
    Contd..Types of Businesses

    3. International business: Business


    carried out outside national boundaries.
    4. Multinational Corporation (MNC):
    These organizations have their own
    headquarters in one country but carries
    out production and distribution activities
    in a number of countries.

    10
    Features of Businesses

    1. Name - gives an identity.

    2. Physical assets.

    3. An objective to achieve.

    4. People.

    5. Organization structure.

    6. Communication system.

    11
    Resources of Businesses

    1. Natural resources (land, water,


    minerals etc.)

    2. Human resources/Labour/ People

    3. Capital (Money, machines, etc.)

    4. Entrepreneurs - Organization

    12
    What is Organization? (Definition)

     An organization is a group of people


    working together for a common
    purpose.
     Examples are: Hospitals, schools,
    Colleges, libraries, etc.

    13
    Types of Organizations
    1. Public sector organization: They are
    owned and controlled by government.
    They provide services to the public.
    Profit is not the aim or objective of these
    organizations.
    2. Private Sector organization: They are
    owned and controlled by private persons.
    Their aim is t make Profit.

    14
    Characteristics of Organization?

    1. Objective: All types of organizations exist


    to attain certain objectives. Business
    organizations have one or more of the
    following objectives:
     Profit
     To gain more market share
     To provide service to public (for Public
    sector organizations)

    Contd..
    15
    Contd.. Characteristics of Business organisations

    2. Exchange of goods and services: A business


    undertaking deals in exchange of goods and
    services.
    3. Organization structure: Every organization
    must have structure which defines the
    relationship among the members of the
    organization
    4. Use of resources: Every business must
    carefully use resources.
    16
    Importance of Business organization
    1. Product Growth: Help to increase in the
    growth of goods and services.
    2. Efficient Use of resources : Organization
    helps in the efficient use of resources and
    thus reduces cost of production of goods.
    3. Technological Improvements: A good
    organization helps for improvement of
    technology.
    4. Creative Thinking: Organizations bring
    more creativity and innovation through
    different products and services.

    Contd..
    17
    Contd..Importance of Business organization

    5. Use of Skilled employees : Organisations


    help to improve the skills of people.
    6. Quick Decisions: Organisations make quick
    decisions.
    7. Fixing of Responsibility: Organisations fix
    responsibilities in order to complete the
    work.
    8. Feed Back: Organisations collect
    information to know any what is happening
    within and outside the organisation.
    9. Minimising Cost: Organizations work for
    cost minimisation which is benefit for the
    customer.
    18

    You might also like