Business Business Administration Administration Ing. Kateřina Ing. Kateřina Maršíková, Ph.D. Maršíková, Ph.D. Department of Business Administration Department of Business Administration Faculty of Economics Faculty of Economics katerina.marsikova @ tul.cz phone: +420 48535 2344 phone: +420 48535 2344
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Business Administration Ing. Kateřina Maršíková, Ph.D. Department of Business Administration Faculty of Economics [email protected] phone: +420.
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Business AdministrationBusiness AdministrationIng. Kateřina Maršíková, Ph.D.Ing. Kateřina Maršíková, Ph.D.
Department of Business AdministrationDepartment of Business AdministrationFaculty of EconomicsFaculty of Economics
- Rydvalová, P., Maršíková, K. Small and - Rydvalová, P., Maršíková, K. Small and Medium EnterprisesMedium Enterprises
- Introduction to Business - Introduction to Business
Subject requirementsSubject requirements
Semestr –creditsSemestr –credits- Semestr project (25 points)Semestr project (25 points)- Activity during the semestr (5 points)Activity during the semestr (5 points)- AttandanceAttandance
ExamExam – written exam 70 points – written exam 70 points
Form of the ProjectForm of the Project Written in MS Word – up to 10 pagesWritten in MS Word – up to 10 pages Title list – Name, title of the project, date, countryTitle list – Name, title of the project, date, country Content, pages numberingContent, pages numbering Literature – resources – Harward style of citationLiterature – resources – Harward style of citation Theoretical partTheoretical part Practical partPractical part Conclusion Conclusion
Business environmentBusiness environment
GeographicalGeographical SocialSocial Political and legalPolitical and legal EconomicEconomic EcologicalEcological TechnologicalTechnological EthicEthic CulturalCultural
What means „What means „ECONOMICECONOMIC““
Availability and prices of factors of productionAvailability and prices of factors of production (resources, which are used to produce goods (resources, which are used to produce goods and services)and services)
Tax burden of enterprisesTax burden of enterprises
(macroeconomic growth, inflation, exchange rate, (macroeconomic growth, inflation, exchange rate, purchasing power of customers)purchasing power of customers)
Income tax of your country (PIT, CIT)? Income tax of your country (PIT, CIT)? - Natural person x legal entity- body Natural person x legal entity- body
(companies)(companies)- InflantionInflantion- UnemploymentUnemployment- Value Added TaxValue Added Tax- Average gross salary (wage)?Average gross salary (wage)?
ECONOMICSECONOMICS
Economics – a science concerned with law Economics – a science concerned with law governing the economic life of siciety.governing the economic life of siciety.
- To meet human wants and needs with limited To meet human wants and needs with limited sources.sources.
- How, what and for whom.How, what and for whom.
EconomyEconomy
Complex of activities and subjects (firms, Complex of activities and subjects (firms, companies, state, individuals) concerned with companies, state, individuals) concerned with the production, distribution, exchange and the production, distribution, exchange and consumption of goods within a certain area.consumption of goods within a certain area.
- Economic decision are made by goverment- Economic decision are made by goverment Shortage x unsaleable commoditiesShortage x unsaleable commodities
- It was typical for socialist countries - It was typical for socialist countries
(Free market economy)(Free market economy) Law of supply and demandLaw of supply and demand ProfitabilityProfitability
P D
S
E
Q
Supply Supply – the goods being sold– the goods being sold
DemandDemand – the interest of the buyers to – the interest of the buyers to purchase the commodities offeredpurchase the commodities offered
Market priceMarket price – a figure determined by the – a figure determined by the relation between the supply and the demandrelation between the supply and the demand
Equilibrium Equilibrium – point of intersection between – point of intersection between supply and demansupply and deman
CompetionCompetion – creates an inseparable conditions – creates an inseparable conditions for the existence of any marketfor the existence of any market
Mixed economyMixed economy
Combines certain featues of pure market and Combines certain featues of pure market and command economic systemscommand economic systems
Part of the production is governed by market Part of the production is governed by market laws, some firms are publicly ownedlaws, some firms are publicly owned
Transition economyTransition economy
Economy which are in the phase of transition Economy which are in the phase of transition from planned economy to an open-market from planned economy to an open-market systemsystem
Government stops interventing in many Government stops interventing in many spheres of country´s lifespheres of country´s life
Restitution, privatization, liberalization of Restitution, privatization, liberalization of prices etc.prices etc.
What is a market?What is a market?
An economic area specializing in the exchange An economic area specializing in the exchange of activities through an exchange of goods.of activities through an exchange of goods.
Sellers x buyers Sellers x buyers interaction (influence of interaction (influence of prices and quantities)prices and quantities)
Market functionsMarket functions
Gives the answer – what, how and for Gives the answer – what, how and for whom to producewhom to produce
Helps to allocate scare resourcesHelps to allocate scare resources
Types of marketTypes of market
Market of products and servises.Market of products and servises.
Market of factors of production (land, Market of factors of production (land, capital goods and labour markets).capital goods and labour markets).
Financial markets (money and capital Financial markets (money and capital market).market).
CompetionCompetion
Contest in the market by legal means: Contest in the market by legal means: - Lower production costsLower production costs- Higher qualityHigher quality- Sale promotionSale promotion
- Competion has a positive impact, e.g. Quality Competion has a positive impact, e.g. Quality improvements,upgrading of technical improvements,upgrading of technical paremetersparemeters
Perfect competitionPerfect competition
- market situation, where there exists a - market situation, where there exists a large numbers of sellers and buyerslarge numbers of sellers and buyers
Products are close substitutes and are Products are close substitutes and are replaceablereplaceable
No single firm is able to dominate the No single firm is able to dominate the marketmarket
Imperfect competitionImperfect competition
At least one competitor is big and strong At least one competitor is big and strong enough to influence the market priceenough to influence the market price
namename- Insufficient information Insufficient information - Administrative measuers, government Administrative measuers, government
directivesdirectives
MonopolyMonopoly
Oposite of perfect competitionOposite of perfect competition Only one producer with various advantages Only one producer with various advantages
from such a positionfrom such a position
Monopoly power – to fix a price above the Monopoly power – to fix a price above the marginal costsmarginal costs
MonopsonyMonopsony
Market with only one buyerMarket with only one buyer
The buyer has ability to influence the market The buyer has ability to influence the market priceprice
Monopolistic competitionMonopolistic competition
Market with many producersMarket with many producers
Their product are differentiated – each of them Their product are differentiated – each of them can set their own prices and their production is can set their own prices and their production is kind of monopolykind of monopoly
TenderTender
Specific form of open competitionSpecific form of open competition Partners in tender submit proposal for contract Partners in tender submit proposal for contract
on certain productson certain products The purpose of tender is to obtain a larger The purpose of tender is to obtain a larger
number of offers and the most suitable is number of offers and the most suitable is selected selected
Trust and cartelsTrust and cartels
Sometimes serious distortion of perfect Sometimes serious distortion of perfect competitioncompetition
Based on Based on agreement agreement with the aim of gaining with the aim of gaining competitive advantage over non-memberscompetitive advantage over non-members
Enterprise, its objectiveEnterprise, its objectivess and functions and functions
What is business?What is business?- all the work involved in providing people with goods and - all the work involved in providing people with goods and
services for a profitservices for a profit
ProfitProfit- is the money left over from all sums received from sales is the money left over from all sums received from sales
after expenses, which have been deductedafter expenses, which have been deducted
EnterpriseEnterprise- an independent subject, founded usually by entrepreneur on - an independent subject, founded usually by entrepreneur on
purpose to achieve some profit, which is usually the main purpose to achieve some profit, which is usually the main objective of businessobjective of business