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Understanding business fundamentals

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Understanding business fundamentals

  1. 1. UNDERSTANDING BUSINESS FUNDAMENTALS PRESENT BY: MOHAMAD IRFAN BIN OTHMAN MOHAMAD HAZREEN BIN TAUHIT AQILA ARFA BINTI MUHAMAD HAPIZ HASMIRA SUHADA BINTI HASSAN AMIRA FARHA BINTI ABD GAFAR
  2. 2. Do we really know what is BUSINESS???? • The organized effort of individuals to prodece and sell, for a profit, goods and servicess that satisfy society’s need. Produce either goods and services Seek profit Try to satisfy consumer wants
  3. 3. BUSINESS GOALS To make profit Open business Expand business
  4. 4. EFFECTIVENESS & EFFICIENCY • Effienciency is achieved by using the fewest inputs to generate a given output. • Effectiveness is achieved when the organization pursues appripriate goals.
  5. 5. OWNERS CREDITORS EMPLOYEES SUPPLIER CUSTOMERS
  6. 6. • OWNERS Create business ideas and posibbly to provide some financial support. • CREDITORS Financial institutions or individuals who provide loans. • EMPLOYEES Resposible for managing job assignmens. • SUPPLIERS cannot complete production process if they cannot obtain the materials. • CUSTOMERS Firm cannot survive without customers
  7. 7. GOALS???? HOPES PLANS
  8. 8. To provide direction and guidance Helps manage to asses the business performance PURPOSE OF GOALS SETTING To define the corporate culture To assist in the allocation of resources
  9. 9. TYPES OF GOALS 1. VISION 2. MISSION 3. OBJECTIVE
  10. 10. LEVELS OF GOALS • Long-term goals -five years and above • Intermediate goals - one year to five years • Short term goals - for one year and less
  11. 11. THE END THANK YOU

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