1. 1.1 Nature of Business Activity

2. Functions of Business Marketing Finance Human Resource Management
Operations Management
Relationships between them

3. Marketing Responsible for Market research and analysis Pricing
Promotion
How to sell and distribute

4. Finance Monitors the flow of finance in and out of the business
Keeps and analyzes financial accounts
Provides financial information to management

5. Human Resource Management
Identifies the workforce needs of business
Recruits
Selects and trains
Creates motivational systems
Handles employment contracts
Deals with redundancy or redeployment of staff

6. Operations Management
Responsible for adequate resources being available for production
Maintains production levels
Maintains quality levels
In charge of production efficiency

7. Business Sectors 3 types of business sectors Primary Secondary
Tertiary
As economies develop in countries, business sectors tend to gravitate from primary to tertiary changing the economic structures of countries.

8. Primary Sector Extraction oriented activities
Fishing, farming, oil drilling

9. Secondary Sector Manufacturing and processing industries
Baking, clothing, construction, assembly

10. Tertiary Sector Service oriented industries
Retailing, transportation, banking, tourism

11. Changes in Economic Structure
Industrialization
The growing importance of the secondary sector on the economy.
? When did this occur in our country
? What was the impact on our society
? What benefits have we enjoyed

12. Did you say: Increase standard of living
Reduced imports into our country and increased exports to other countries
More jobs
More profits to companies, so more taxes to governments
Raw materials worth more to other countries because they have been processed

13. What are potential problems?

14. Did you say:
Creates depopulation in rural areas as people gravitate towards jobs in manufacturing
Stresses on farming and agriculture
Difficult to find enough qualified workers
Imports may increase to satisfy needs of raw materials
Pollution