Business Organization and Management: An Introduction Mrs. Chandler.

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Presentation transcript:

Business Organization and Management: An Introduction Mrs. Chandler

Topics covered  Business Environment  Human Resources and Management  Ethics  International Business

What is Management? The process of deciding how best to use a business’s resources to produce good or provide services. Business resources include the following: o Employees – Human Resources o Equipment o Money

What is business?

A business is an organization that has been specifically set up to provide some kind of product or service to its customers.

Name 5 businesses

Basic features distinguish business activities from non-business activities. Businesses are all owned. Businesses need to be set up under certain rules. Businesses need to keep records of what they do. Businesses need to operate within certain laws. Businesses have customers. Businesses can be small and be made up of just one person, or large, with thousands of employees. Businesses can be privately owned or be owned by the government.

Business or not Is the school a business? Is the government running a business when it provides services such as libraries or a police force? Is a charity, such as the Cancer society, a business when it sells nothing?

What Businesses Do Take InputsProcess/ManufactureOutput Costs – Fixed and VariableRevenue Profit

Business Aims Make a profit Maximize Sales Be very competitive Provide charitable services Provide goods to local community

What is a profit? Profit is one of the rewards of setting up in business Profit is the money that’s left after you’ve taken away your costs from your sales revenue Profit = Sales - Costs Loss – When the costs/expenses are more than the sales/revenue

Goods and services Goods – tangible products such as computers, food, clothing, cars and appliances. Examples? Services – Intangible products (products that cannot be held in your hand). Examples?

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 Investors

Week 1 review

Check your understanding What is a business? Give three features of a business. What is a good and service? Give examples. What is a profit? Who are stake holders?