www.studyguide.pk Business Studies Notes by Abdullah www.studyguide.pk StudyGuide.PK Business Studies O-Level Notes Page 1 www.studyguide.pk Business aims and Activities Private sector aims The aim of a business in the private sector is to survive by making a profit. This may be a sole trader working alone‚ like a newsagent‚ or thousands of shareholders in a large Public Limited Company. Businesses gain a larger market-share [a percentage of overall sales in an industry] by
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here] Identify the main bureaucratic features Max Weber believed were needed to exist in a business for it to operate efficiently. [answer here] Summarise Taylor’s principles of scientific management. [answer here] Construct an organisational chart of where you work or of your school. [answer here] Determine how autocratic managers motivate their staff to achieve the goals of the business. Assess whether their style is successful. [answer here] Behavioural approach Identify
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role of business in Australia and globally H2 evaluates management strategies in response to changes in internal and external influences H3 discusses the social and ethical responsibilities of management H4 analyses business functions and processes in large and global businesses H5 explains management strategies and their impact on businesses H6 evaluates the effectiveness of management in the performance of businesses H7 plans and conducts investigations into contemporary business issues
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1 – The Purpose of Business Activity The economics problem: needs and wants. Basically‚ all humans have needs and wants. Needs are things we can’t live without‚ while wants are simply our desires that we can live without. We all have unlimited wants‚ which is true‚ since all of us want a new PC‚ a car‚ new graphics card‚ etc. that we actually do not need to live. Businesses produce goods and services to satisfy needs and wants. Although we have unlimited wants‚ there are not enough resources
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characteristics and features. * Determine: make a decision or work out an answer after appropriate thought and investigation. * Discuss: identify issues and provide points for and/or against * Distinguish: recognise or note/indicate as being distinct or different from; to note differences between. * Evaluate: make a judgement based on criteria; determine the value of. * Examine: inquire into. * Explain: relate cause and effect‚ make the relationships between things evident; provide
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Business Studies notes… Topic 1- Nature Of Business The importance of businesses The function of business in creating value/benefit ← A business is an organization that buys and sells goods‚ makes products or provides services. ← Business enterprises undertake many activities to provide the products demanded by customers‚ however‚ the most important activity is production. ← The management of the business‚ organizes all aspects of running the business including choosing a particular product
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International Marketing Study Notes Lesson 1 Globalization- the increased mobility of goods‚ services‚ labour‚ technology‚ and capital throughout the world International Marketing is the activity‚ set of institutions‚ and processes for creating‚ communicating‚ delivering and exchanging offerings that have value for customers‚ clients‚ partners and society at large Uncontrollable elements competition legal restraints government controls weather fickle consumers Controllable elements
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reviewing the goals of the business rewarding valued employees Working within the legal framework that regulates the employment relationship. Human resource management Human resource management -The process of managing staff within an organisation. It focuses on the relationship between the employer and the employee. By being proactive and adopting a long-term think approach‚ managers may seek to affect and improve a diverse range of human resource issues within the business. E.g. policies and practices
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interacting activities designed to plan‚ price‚ promote and distribute products to present and potential customers Role of marketing • Strategic role of marketing goods and services A common goal in business is profit maximisation. The strategic role of marketing is to translate this into a reality. The business will look to how it can increase its sales‚ and that means there will be an increase in profits. The marketing plan helps show strategies in how profits can be achieved in the short-term‚ and
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Discussion Board 3 Reply Liberty University/ Business 561 Responding to Legal Issues in Business In responding to Mr. Alan Geason’s paper titled: “Legal Issues in Business‚” I agree with the legal issues that was presented as well as the biblical reflections as referenced to Job and suffering. Even though Barney has been dealt with some unfortunate circumstances‚ there is something redemptive with overcoming and persevering through obstacles. For Barney‚ he is faced with legal issues involving
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