Business management
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The document provides information about business management including: 1) It defines a business as a commercial enterprise that can range from being run by one person to employing thousands, and provides goods and services. 2) Businesses are started by entrepreneurs who see opportunities to meet needs. They require inputs like resources and produce outputs like goods and services. 3) Stakeholders of a business include customers, managers, employees, owners, suppliers, government, and creditors who all have an interest in its success.
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A business is usually defined as a commercial enterpriseSome are run by only one person who carry out all of the required functionsOthers employ thousands of people and provide goods and services to people all over the worldEach business can be defined or described by its type of ownership, the goods produced or services offered,
the types of jobs provided, or the functions
it performs in a community
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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 employmentBuy inputs – raw materials, labour, machinery and equipment, and landProduce outputs – goods and servicesFocus on efficient use of resourcesGenerate profit/surplus
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A business is usually defined as a commercial.docx
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A business is usually defined as a commercial enterpriseSome are run by only one person who carry out all of the required functionsOthers employ thousands of people and provide goods and services to people all over the worldEach business can be defined or described by its type of ownership, the goods produced or services offered,
the types of jobs provided, or the functions
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ADVERTISEMENT
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Data show that Ethiopia’s population increased by 2.9 million (+2.5 percent) between 2021 and 2022.
50.0 percent of Ethiopia’s population is female, while 50.0 percent of the population is male.
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Business management
- 1. WETENRISOI HAFSA SISTEM INFORMASI SAINS DAN TEKNOLOGI UNIVERSITAS ISLAM NEGERI SULTAN SYARIF KASIM RIAU http://sif.uin-suska.ac.id/ http://fst.uin-suska.ac.id/ http://www.uin-suska.ac.id/ BUSINESS MANAGEMENT
- 3. A business is usually defined as a commercial enterprise Some are run by only one person who carry out all of the required functions Others employ thousands of people and provide goods and services to people all over the world Each business can be defined or described by its type of ownership, the goods produced or services offered, the types of jobs provided, or the functions it performs in a community
- 4. 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. Who are the stakeholders? – Anyone who has an interest in the success of a business • Customers • Managers • Employees • Owners • Local Community/Environment • Suppliers • Government • Creditors
- 6. Take Inputs Process/Manufacture Output Costs – Fixed and Variable Revenue Profit
- 7. A group of businesses that all produce similar products is called an industry Example: Automobile manufacturers and automobile parts is the Automobile Industry Separated into three categories – primary, secondary, and tertiary