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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.

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Overview of Business

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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 withcontinuous & regular

    production & distribution

    of goods and services for

    satisfying human wants

    But are different in

    different worlds.

  • 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.

    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

  • Management - Overview of Business 1/15/2015

    Mohammed Aadil - HLS 4

    &

    GLOBALIZATIONPresent Past

    GLOBALIZATION

  • Management - Overview of Business 1/15/2015

    Mohammed Aadil - HLS 5

    Causes of Globalisation

    Improved Communications Improved Transport

    Operate throughout the world., marketing

    avenues

    Containerisation supports ship & air

    transport

    Free Trade Agreements

    Causes of Globalisation

    Growth of MNCs

    investment

    International Trade, Increasing wealth

    and influence.

    Investment, produce & sell on a massive

    scale

    Global Banking

    Causes of Globalisation

    Consumer Preferences

    investment

    Types of

    Globalization

    Economic

    PoliticalSocial

  • Management - Overview of Business 1/15/2015

    Mohammed Aadil - HLS 6

    Effects of Globalisation

    Anti-Globalisation

    Protests Changed Food

    Supply

    Division of

    LabourLess Job Security

    Environmental

    Damage

    Cultural Impact

    Effects of Globalisation

    No seasons

    Effects of Globalisation

    Environmental Damage

    More transport

    Effects of Globalisation

  • 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

  • Management - Overview of Business 1/15/2015

    Mohammed Aadil - HLS 8

    Surah Ash Shuara: Ayat 181 - 183