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HIGHER BUSINESS MANAGEMENT
The course <ul><li>3 units  </li></ul><ul><li>Unit 1 – 3 topics (BICS; Decision Making; Info &IT) </li></ul><ul><li>Unit 2...
RESOURCES  <ul><li>Textbooks  </li></ul><ul><li>Slides  </li></ul><ul><li>Your notes if you wish </li></ul><ul><li>Additio...
The  Role of Business in Contemporary Society
TOPICS IN THIS CHAPTER <ul><li>Role of Business in Society </li></ul><ul><li>Types of businesses </li></ul><ul><li>Objecti...
TESTING <ul><li>Test at end of this chapter </li></ul><ul><li>NAB before October week (on first 3 chapters) </li></ul>
WHAT IS A BUSINESS <ul><li>Business is concerned with meeting needs and wants of people and groups in society. </li></ul><...
Wealth Creation  <ul><li>Businesses pay our wages and allows us to buy goods and services.  </li></ul><ul><li>The higher t...
Cycle of business <ul><li>WANTS- People in society have wants  </li></ul><ul><li>IDENTIFICATION OF WANTS - business recogn...
Factors of production <ul><li>Businesses need resources in order to produce goods and services </li></ul><ul><li>Land  – N...
SECTORS OF INDUSTRIAL ACTIVITY <ul><li>PRIMARY  </li></ul><ul><ul><li>agriculture and extractive industries </li></ul></ul...
Questions Chapter 1  pages 3 - 6  Topic – The role of business in society <ul><li>Explain the term “business”. (2) </li></...
Solution <ul><li>Explain the effects of “de-industrialisation”  (3) </li></ul><ul><li>Answer: </li></ul><ul><li>The main e...
EXAM STYLE QUESTION <ul><li>DESCRIBE THE ROLE OF BUSINESS IN SOCIETY, RELATING YOUR ANSWER TO: </li></ul><ul><li>Wealth cr...
SOLUTION  <ul><li>Businesses produce goods and services to meet needs and wants. </li></ul><ul><li>Consumers then buy the ...
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1 Intro To Coursejw

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1 Intro To Coursejw

  1. 1. HIGHER BUSINESS MANAGEMENT
  2. 2. The course <ul><li>3 units </li></ul><ul><li>Unit 1 – 3 topics (BICS; Decision Making; Info &IT) </li></ul><ul><li>Unit 2 – 2 topics (marketing and operations) </li></ul><ul><li> – 2 topics (finance and human resources) </li></ul><ul><li>Plus Internal Organisation- only assessed externally </li></ul>
  3. 3. RESOURCES <ul><li>Textbooks </li></ul><ul><li>Slides </li></ul><ul><li>Your notes if you wish </li></ul><ul><li>Additional notes from me </li></ul><ul><li>KU question and case study booklets </li></ul><ul><li>Past papers </li></ul><ul><li>Me </li></ul>
  4. 4. The Role of Business in Contemporary Society
  5. 5. TOPICS IN THIS CHAPTER <ul><li>Role of Business in Society </li></ul><ul><li>Types of businesses </li></ul><ul><li>Objectives </li></ul><ul><li>Entrepreneurs </li></ul><ul><li>Stakeholders </li></ul><ul><li>Finance and Advice </li></ul><ul><li>Growth </li></ul><ul><li>Changes in the business environment </li></ul><ul><li>Impact of changes </li></ul>
  6. 6. TESTING <ul><li>Test at end of this chapter </li></ul><ul><li>NAB before October week (on first 3 chapters) </li></ul>
  7. 7. WHAT IS A BUSINESS <ul><li>Business is concerned with meeting needs and wants of people and groups in society. </li></ul><ul><li>An organisation set up to achieve objectives. </li></ul><ul><li>May not have “profit” as an objective </li></ul><ul><li>The output of business activity is the goods and services we want. </li></ul>
  8. 8. Wealth Creation <ul><li>Businesses pay our wages and allows us to buy goods and services. </li></ul><ul><li>The higher the number of businesses in a country the wealthier the citizens are. </li></ul><ul><li>The wealth of a country is measured by how many goods and services it provides (GDP) </li></ul>
  9. 9. Cycle of business <ul><li>WANTS- People in society have wants </li></ul><ul><li>IDENTIFICATION OF WANTS - business recognise that these wants could be satisfied by the production of goods and serviced </li></ul><ul><li>PRODUCTION - Businesses combine inputs to produce an output of the required good or service </li></ul><ul><li>CONSUMPTION AND SATISFACTION - goods and services made available to consumers who are satisfied </li></ul>
  10. 10. Factors of production <ul><li>Businesses need resources in order to produce goods and services </li></ul><ul><li>Land – Natural resources that the business might use </li></ul><ul><li>Labour – staff employed in the organisations </li></ul><ul><li>Capital – tools, equipment used </li></ul><ul><li>Enterprise – the entrepreneur organises the other 3 factors of production </li></ul>
  11. 11. SECTORS OF INDUSTRIAL ACTIVITY <ul><li>PRIMARY </li></ul><ul><ul><li>agriculture and extractive industries </li></ul></ul><ul><li>SECONDARY </li></ul><ul><ul><li>manufacturing and construction </li></ul></ul><ul><li>TERTIARY </li></ul><ul><ul><li>service industries </li></ul></ul>
  12. 12. Questions Chapter 1 pages 3 - 6 Topic – The role of business in society <ul><li>Explain the term “business”. (2) </li></ul><ul><li>Explain what is meant by “wealth creation” (3) </li></ul><ul><li>Describe the cycle of business. (1) </li></ul><ul><li>Distinguish between goods and services. (1) </li></ul><ul><li>Describe the factors of production (8) </li></ul><ul><li>Distinguish between production and consumption of goods and services (1) </li></ul><ul><li>Describe the 3 sectors of industrial activity. Give an example for each sector. (6) </li></ul><ul><li>Explain the effects of “de-industrialisation” (3) </li></ul>
  13. 13. Solution <ul><li>Explain the effects of “de-industrialisation” (3) </li></ul><ul><li>Answer: </li></ul><ul><li>The main effects of de-industrialisation are: </li></ul><ul><li>A significant decrease in manufacturing jobs and output. </li></ul><ul><li>A Significant increase in jobs in the tertiary sector. </li></ul><ul><li>A rise in imports of manufactured goods. </li></ul><ul><li>Changes in educational/training provision to meet the needs of the tertiary sector. </li></ul>
  14. 14. EXAM STYLE QUESTION <ul><li>DESCRIBE THE ROLE OF BUSINESS IN SOCIETY, RELATING YOUR ANSWER TO: </li></ul><ul><li>Wealth creation </li></ul><ul><li>Satisfaction of wants </li></ul><ul><li> (4) </li></ul>
  15. 15. SOLUTION <ul><li>Businesses produce goods and services to meet needs and wants. </li></ul><ul><li>Consumers then buy the goods or services so that they obtain the things that they want. </li></ul><ul><li>This creates wealth for the business organisation, their employees and their shareholders. </li></ul><ul><li>Consumers then have money to spend from their wages and salaries and want other goods and services. This cycle continues. </li></ul>

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