Management - Overview of Business 1/15/2015 Mohammed Aadil - HLS 1 Overview Of Business By Prof. Mohammed Aadil • Business – The purpose of Management • “Business is an economic activity, which is related with continuous & regular production & distribution of goods and services for satisfying human wants But are different in different world’s.
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Management - Overview of Business 1/15/2015
Mohammed Aadil - HLS 1
Overview Of Business
By Prof. Mohammed Aadil
• Business – The purpose
of Management
• “Business is an economic
activity, which is related with
continuous & regular
production & distribution
of goods and services for
satisfying human wants
But are different in
different world’s.
Management - Overview of Business 1/15/2015
Mohammed Aadil - HLS 2
Definitions
Human Needs
Value concept
Role of Business
Economic Development
NATURE OF
BUSINESS
Features of
Business
To Satisfy human wants
Exchange of goods & services
Deals in numerous
transactions
Profit is the main Objective
Business skills for economic success
Risks & Uncertainties
Buyer & Seller
Connected with
production
Marketing &
Distribution
Deals in goods & services
Characteristics
of
Business
Uncertainty & Risks
Invests in space, time, equipment &
skills
Minimising Uncertainty & Risks
Scale of operation consideration
Need for Ownership &
Entrepreneurship
High Achievement Motivation & single purpose devotion
Management - Overview of Business 1/15/2015
Mohammed Aadil - HLS 3
Types of
Business
Manufacturing
TradeService
Types of Business
• Businesses which deal in buying and selling ofgoods/merchandise are known as trading businesses.