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