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Introduction to Business Activities 1. Purpose  2. Types of Businesses  3. Jobs in Service industries  4. Business Resources  5. Unlimited Needs & Wants  Vs Limited Resources  6. Managing Financial Resources  - Calculation of Loan Interest 7. The Changing Business Environment  8. Nature of Competition - Direct vs Indirect
1. PURPOSE OF BUSINESS ACTIVITIES How will this affect the people in the country & the country? - Provide  Goods and Services  to the people. - Provide  Jobs  for the people.  - Contribute to the  wealth of the country . 2 business terms you must know:  NEEDS  – These are goods and services that are necessary for SURVIVAL.  Question: What are some basic needs of yours?  WANTS  – These are goods and services that are NOT necessary for survival but which we WISH to have.
2. TYPES OF BUSINESSES GOODS-PRODUCING SERVICES ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
WHAT ABOUT THESE?
3. Jobs in Service industries  RETAIL TRAVEL AND TOURISM HOSPITALITY RECREATION FINANCE HEALTH CARE EDUCATION
4. Business Resources (‘CELL’)  C APITAL  E NTERPRISE  L AND L ABOUR ,[object Object],[object Object],[object Object],[object Object],[object Object]
5. Unlimited Needs & Wants Vs Limited Resources  6. Managing Financial Resources  - Calculation of Loan Interest Needs & Wants > Resources Question: What is money needed for when you start a new business? Salary of Worker Machinery Office Furniture & Equipment Rent and Utilities Raw materials etc
Question: Where do you get the money when you want to start a new business? Personal Savings Loan from a Family  members / friends Bank Loans Trade Credit from Suppliers
What is Trade Credit from Suppliers?    You get your goods first and pay your suppliers later.  Question: Why does the entrepreneur not have enough $ to pay his suppliers? ,[object Object],[object Object],Calculate LOAN INTEREST Interest = $Amount borrowed x Interest rate/100 x Duration of loan Refer to Textbook Pg 8 and 9
7. The Changing Business Environment  “ PETS D G” P olitical and Legal E conomic T echnological S ocial D emographic G lobal
NATURE OF COMPETITION 1.  DIRECT 2. INDIRECT

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Elements of business skills chapter 1 slides

  • 1. Introduction to Business Activities 1. Purpose 2. Types of Businesses 3. Jobs in Service industries 4. Business Resources 5. Unlimited Needs & Wants Vs Limited Resources 6. Managing Financial Resources - Calculation of Loan Interest 7. The Changing Business Environment 8. Nature of Competition - Direct vs Indirect
  • 2. 1. PURPOSE OF BUSINESS ACTIVITIES How will this affect the people in the country & the country? - Provide Goods and Services to the people. - Provide Jobs for the people. - Contribute to the wealth of the country . 2 business terms you must know: NEEDS – These are goods and services that are necessary for SURVIVAL. Question: What are some basic needs of yours? WANTS – These are goods and services that are NOT necessary for survival but which we WISH to have.
  • 3.
  • 5. 3. Jobs in Service industries RETAIL TRAVEL AND TOURISM HOSPITALITY RECREATION FINANCE HEALTH CARE EDUCATION
  • 6.
  • 7. 5. Unlimited Needs & Wants Vs Limited Resources 6. Managing Financial Resources - Calculation of Loan Interest Needs & Wants > Resources Question: What is money needed for when you start a new business? Salary of Worker Machinery Office Furniture & Equipment Rent and Utilities Raw materials etc
  • 8. Question: Where do you get the money when you want to start a new business? Personal Savings Loan from a Family members / friends Bank Loans Trade Credit from Suppliers
  • 9.
  • 10. 7. The Changing Business Environment “ PETS D G” P olitical and Legal E conomic T echnological S ocial D emographic G lobal
  • 11. NATURE OF COMPETITION 1. DIRECT 2. INDIRECT