1. What is Business? Now, how would you define business?
What words come to your mind when you hear the word business?
Now, how would you define business?

2. Think about this:
What do all of the organizations below have in common? How are they different?
American Red Cross
Del Monte Spa
Cellino and Barnes Law Firm
Apple
John Betlem Heating and Cooling

3. What is Business????
Business is an activity that provides for the wants and needs of a person, group, or organization.

4. Fundamentals of Business
Business – A profit or nonprofit organization that provides goods/ services that satisfy consumer needs and wants.
Key roles of business in society and the economy:
Provide necessities such as housing, clothing, transportation, communication, etc.
Provides jobs, funds education, and helps to pay taxes. Businesses reinvest funds into the economy.
Profit – What remains after all expenses have been deducted from business revenue.
We know what the key roles are now we need to define some terms!
What is a business…
What does a business try to do why are they in exsistence

5. Name Some Local Businesses that you think are unique

6. Another Type of Business
Not-for-Profit Organization
Organizations exist to provide social, educational and other services
EXAMPLES:
Schools/Libraries
Government Agencies
Credit Unions

7. Goods Producing Business Service Producing Business
For-Profit Organizations There are two categories of businesses organized to make a profit:
Goods Producing Business
Service Producing Business

8. Goods Producing Businesses
Businesses that produce tangible goods by engaging in activities such as manufacturing, construction, mining, and agriculture
EXAMPLES:
Apple
Toyota
Sony

9. Service Businesses
Businesses that produce intangible products. These products are in the area of finance, transportation, utilities, wholesale, retail, trade, banking, entertainment…
EXAMPLES:
Celino & Barnes Firm
Hair Salon
Movie Theaters
Stores in the Mall
Can you give another example?

10. A business needs to have a vision of where they are going and what they want to accomplish—this is called a “Mission Statement”

11. Mission Statement A mission statement is a road to a goal!
A good company Mission Statement needs to capture the essence of an organization without being so vague that it could apply to every other company.

12. An example of a mission statement
Abercrombie & Fitch "We are committed to providing comfortable and long lasting clothes that look good"
Wal-Mart “We save people money so they can live better.”

13. What is Management
Turn to your neighbor and discuss what important tasks you think a manager would do.
Management is the level in an organization where decisions are made and policies are interpreted to guide a business toward accomplishing their mission.
What skills do you think you need to be a manager of a business? You need to:
PLAN ORGANIZE DIRECT CONTROL

14. Management Some of the top levels of management are:
CEO (Chief Executive Officer)
CFO (Chief Financial Officer)
COO (Chief Operating Officer)
Who in your company would be interested in serving as the CEO?
A candidate for this position needs to describe to business members why he/she is qualified for this role.

15. How Do Businesses Organize to Accomplish Their Goals?
Businesses organize into specialized units called departments.
Typical departments found in businesses include:
Marketing
Operations
Accounting & Finance
Human Resources (HR)
Legal
IT – Information Technology

16. Marketing
Activities that identify the particular wants and needs of a target market or customer.
The business goal is to satisfy those customers better than your competitors.
This involves doing market research on customers
analyzing their needs
making strategic decisions about product design, pricing, promotion and distribution/place.

17. Marketing Plan
What are the economic conditions that will affect many of the decisions you will make regarding your product.
Industry analysis—what is going on in this industry? Trends?
Describe your target market

18. Accounting and Finance
Accounting is a process by which financial information is communicated to owners, managers, and other interested parties in order to make important decisions.
What are some options for business to finance a new business venture?
What is important financial information to communicate?

19. Human Resources Human Resources or HR is responsible for the
hiring,
firing
Motivation
And Training of employees
In addition, HR is responsible for corporate relations with the community.

20. Legal
This department is responsible for making sure the company follows all legal responsibilities and procedures required by the government.
What types of businesses might have many legal responsibilities to comply with?

21. IT (Information Technology)
IT has to do with maintaining the computer network and all internet relationships with customers who use the Web page.
Add CEO and Production?