Business Organization and Environment

t.w
Mind Map by t.w, updated more than 1 year ago
t.w
Created by t.w over 6 years ago
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Business Management 11 HL mindmap

Resource summary

Business Organization and Environment
  1. Business
    1. uses input to produce goods or provide services
      1. outputs goods and services to receive profit
    2. Needs
      1. Basic necessities people require in order to survive
        1. ex: food, water, etc.
      2. Human Resources
        1. Manages the employees of the organization
          1. In charge of recruitment, training, appraisals, firing, etc
        2. Finance and Accounts
          1. Manages organizations money
            1. documents finances
              1. to prevent understatement of profits to lower taxes
                1. to provide shareholders and potential investors with correct information
          2. Marketing
            1. Identifies and satisfies needs and wants of consumers
              1. ensures that products and services sell
              2. Price
                1. uses pricing strategies to sell products
                2. Place
                  1. Ensures goods and services are available in convenient places for consumers
                  2. Product
                    1. Services
                      1. Non-item
                        1. ex: education, haircuts, etc
                      2. Goods
                        1. Physical items
                          1. ex: cars, computers, etc
                        2. ensures goods and services meet customer demands
                      3. Operations
                        1. Production
                          1. turns raw materials into goods ready to sell
                        2. Primary Sector
                          1. raw materials and natural resources
                            1. agriculture, oil extraction
                            2. usually in less developed countries
                            3. Secondary Sector
                              1. manufactures raw materials into products
                                1. clothes, electronics production companies
                                2. "wealth-creating" sector
                                3. Tertiary Sector
                                  1. services for the general population
                                    1. retail, transportation, entertainment
                                  2. Quaternary Sector
                                    1. knowledge based activities that generate and share information
                                      1. consulting, research and development
                                    2. Chain of Production
                                      1. Production
                                        1. Manufacturing
                                          1. Services
                                            1. Consumers
                                      2. Entrepreneur
                                        1. oversees whole production business
                                          1. searches for and exploits business opportunities
                                        2. Intrapreneurship
                                          1. act of being an entrepreneur but is an employee of a large organization
                                          2. Intrapreneur
                                            1. employee who demonstrates entrepreneur qualities
                                              1. independent, proactive, creative, innovative
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