What Businesses Do

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What Businesses Do ?

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What Businesses Do

  1. 1. What Businesses Do
  2. 2. What Businesses Do <ul><li>Meet the needs of stakeholders </li></ul><ul><li>Buy inputs – raw materials, labour, machinery and equipment, land </li></ul><ul><li>Produce outputs – goods and services </li></ul><ul><li>Focus on efficient use of resources </li></ul><ul><li>Generate profit/surplus </li></ul>
  3. 3. What Businesses Do <ul><li>Who are the stakeholders? – Anyone who has an interest in the success of a business </li></ul><ul><ul><li>Customers </li></ul></ul><ul><ul><li>Managers </li></ul></ul><ul><ul><li>Employees </li></ul></ul><ul><ul><li>Owners </li></ul></ul><ul><ul><li>Local Community/Environment </li></ul></ul><ul><ul><li>Suppliers </li></ul></ul><ul><ul><li>Government </li></ul></ul><ul><ul><li>Creditors </li></ul></ul>
  4. 4. What Businesses Do Take Inputs Process/Manufacture Output Costs – Fixed and Variable Revenue Profit
  5. 5. Introduction to Business Studies
  6. 6. Introduction to Business Studies
  7. 7. Marketing
  8. 8. Market Analysis <ul><li>Size </li></ul><ul><li>Segments </li></ul>
  9. 9. Marketing Strategy <ul><li>Objectives </li></ul><ul><li>Niche v Mass marketing </li></ul><ul><li>Portfolio analysis </li></ul>
  10. 10. Market Research <ul><li>Primary </li></ul><ul><li>Secondary </li></ul>
  11. 11. Marketing Mix <ul><li>The 7 Ps </li></ul><ul><li>Elasticity of Demand </li></ul>
  12. 12. Objectives and Strategy
  13. 13. Human Resources
  14. 14. Production/Operations Management
  15. 15. Accounting and Finance
  16. 16. Company Accounts <ul><li>Profit and Loss Account </li></ul><ul><li>Balance Sheet </li></ul>
  17. 17. External Influences
  18. 18. Market Structures <ul><li>Oligopoly </li></ul><ul><li>Monopoly </li></ul><ul><li>Perfect Competition </li></ul><ul><li>Imperfect Competition </li></ul>
  19. 19. The Macro-Economy <ul><li>Business Cycles </li></ul><ul><li>Government Objectives </li></ul><ul><li>Government Policies </li></ul>

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