Transcript
Page 1: Session 1_Overview of Business

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.

Page 2: Session 1_Overview of Business

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

Page 3: Session 1_Overview of Business

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.

• Examples - kiosks, hawking, market vending, groceryshops, retail shops, supermarkets, wholesalers, etc

Trade

• Those which transform or process raw materialsand make products that are significantly different from theinputs.

• Examples – Beverage, Metal, Chemical, Plastics, Textiles,Extractive manufacturing etc

Manufacturing

• Businesses which provide services to theircustomers by using the specialized skills of theirowners and workers.

• Examples - travel agencies, hair and beauty saloons, motorvehicle repair garages, secretarial and computing service bureaus,restaurants, hotels, lodges, transport companies, communicationcompanies, consultancy etc

Service

Industrial

Sector

Page 4: Session 1_Overview of Business

Management - Overview of Business 1/15/2015

Mohammed Aadil - HLS 4

&

GLOBALIZATIONPresent Past

GLOBALIZATION

Page 7: Session 1_Overview of Business

Management - Overview of Business 1/15/2015

Mohammed Aadil - HLS 7

Replacing

Monoculture

Anti

Effects of Globalisation

High Standard

Living

Never Technology

Supply of Raw

Materials

Quality Products

Foreign collaborati

on

Indian MNCs

Job Security

Small producers ‘s

hardship

Unemployment

Financial Insecurity, Unequal

opportunities

Less Wages

Page 8: Session 1_Overview of Business

Management - Overview of Business 1/15/2015

Mohammed Aadil - HLS 8

Surah Ash Shuara: Ayat 181 - 183


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