The PPT gives student a brief introduction about the business and help them understand the concept.

1. Indus University
BBA Class
Lecturer: Sir Bilal Ahmed (MBA)

2. Chapter 1
 What is business
 Is Commerce different from business
 Important Terms in Business
 Economics
 Finance
 Marketing
 What is Industry
 Business Objective
 Importance of Business
 Scope of Business
 Qualities of Good Businessmen

3. What is Business
 Business generally refers to
organizations that seek profits by
providing goods or services in exchange
for payment.
 A Business embraces all those
functions involved in the making, buying
and transporting of goods.

4. What do Businesses do?
 Businesses are started by entrepreneurs who see
a need, recognize the opportunity, and go into
business to meet that need
 Business and people need each other – there are
many stakeholders – we depend on businesses
for products and services, but also for
employment
 Buy inputs – raw materials, labour, machinery and
equipment, and land
 Produce outputs – goods and services
 Focus on efficient use of resources
 Generate profit/surplus

5. Is Commerce Different from
Business
 The Answer is NO
 Both have same meanings
 Their concept can be used alternatively
 Trying to create a difference has no use.
 In simple words, commerce or business
is the sum of following activities:
○ Manufacturing activities
○ Marketing (exchange, distribution, finance etc)

6. Important Terms in Business
 Goods/Merchandise
 Services
 Assets
 Liabilities
 Capital
 Revenue
 Expense
 Cost
 Profits/Gain
 Loss
 Breakeven Point
 Finance
 HR
 Business Correspondence
 Demand and Supply
 Monopoly
 Customers & Consumers
 Market
 Competitors
 Risk
 Non Profit Organizations

7. Economics
 Economics is the social science that
studies how people interact with things
of value; in particular, the production,
distribution, and consumption of goods
and services. Economics focuses on the
behaviour and interactions of economic
agents and how economies work.

8. Factors of Production
 Factors of production are the resources
people use to produce goods and
services; they are the building blocks of the
economy. Economists divide the factors of
production into four categories: land,
labor, capital, and entrepreneurship

10. What is Finance
 Finance refers to money resources,
income, capital, loan and retained
earnings.
 Finance is the life blood of any business
organization.
 It can be met from capital, loans and
retained earning.

11. What is Marketing
 Marketing refers to activities a company undertakes
to promote the buying or selling of a product or
service. Marketing includes advertising, selling, and
delivering products to consumers or other
businesses.
 Marketing is the process of getting potential clients
or customers interested in your products and
services.
 Marketing means studying the market place, finding
out what customers want, and then creating and
delivering those products at the right price.

12. What is Industry
 A group of businesses that all
produce similar products is called an
industry
Example: Automobile manufacturers
and automobile parts is the
Automobile Industry

13. Kinds of Industry
By Size
 Heavy Industries
 Light Industries
By Production
Process
 Extracting industry
 Analytical Industry
 Synthetic Industry
 Fabricating industry

15. Scope Of Business
 Production
 Banking/Fanince
 Transportation
 Marketing
 Warehousing
 Insurance
 Information
 Grading &
Standardization
 Trade (buying &
Selling)

16. Importance Of Business
 Production of
Goods
 Distributing Goods
 Satisfying
Customers
 Success of
Invention &
Innovations
 Success of
Industrial
Revolution
 International
Business
 Improved Standard
of Living & Wealth
 Employment
 Growth of Higher
Education
 Change in Status

17. Qualities Of Good
Businessmen
 Risk Assuming
 Goal Oriented
 Well Informed
 Performance
Oriented
 Exploiting
Opportunities
 Unbeliever of
Mystical Forces
 Rational, Not
Emotional
 Fair Dealer
 Dynamic and
Steadfast
 Experienced