Business Notes

Topics: Management, Strategic management, Business Pages: 20 (3125 words) Published: June 26, 2013
Business 101
Module 1

Webcast 2 – Why Business Matters
Business – An organization, which provides goods or services to satisfy customer, needs.

Business Model – Indicates how a business generates revenue/profit.

Reading 2 – Bovee and Thill
‘Looking ahead to your career’

Seeking Employment Opportunities and Information

-Keep up-to-date with Business and Financial News

-Networking – The process of making informal connections with business people. It can happen anywhere, sporting events, someone in your class, social gatherings, and so on. Say you knew someone at uni now and you did a project with them, in 5 years time you went your separate ways and your looking for a job and get an interview. Unknowingly they are the manager at the places you got the interview Since they know you, and that you are a hard worker, you have a higher possibility than anyone else at landing a job, making it that much easier. Webcast 3 – You and Your Career

1. Stand out from the crowd

2. The clock is ticking

3. Grades are not enough
-Work experience
-Your personal skills (communicating etc.)

4. Clubs are the answer

Say YES to opportunity

Reading 3 – Bovee and Thill
Developing a business mindset.

Major Functional Areas in a Business
-Research and Development
-Manufacturing and Production
-Marketing and Sales
-Finance and Accounting
-Human Resources

Achieving Professionalism
-Striving to excel
-Being dependent and accountable (on time)
-Being a team player
-Communicating effectively
-Demonstrating etiquette (being mature)
-Making ethical decisions
-Maintaining a positive, confident outlook (being optimistic)

Reading 3 – Inkson Kerr
Career development principles for today's career beginners

Taking responsibility for your own career
-Learn skills and get further education in your career. This will be a valuable asset especially if you are made redundant from work and are looking for employment.

Seeing the future
-Don’t get a job, which in a few years, is going to be taken over by technology. For example being a travel agent is a very risky job nowadays. Websites are beginning to do everything that a travel agent can do and soon enough people aren’t going to go to a travel agent, they’ll go online and book their travels.

Using University to prepare your career
-Joining clubs SPARK, Management Consulting Club

Improvise on ways to enhance your career

Webcast 4 – What employers are looking for

Rounded skills which match that of the skills need for the job you are applying for. You wouldn’t say that one of your skills is that your good at fishing if you’re applying for a job as a teacher. Or that you’re talkative if you’re applying for a job at a deaf institute.

Networking is an important skill.

Module 2

Webcast 5 – Business Models
Like how stores such as the warehouse and clothing stores have a physical store but are now setting up online stores. They are creating new business models (one for physical stores, and one for online shopping) where for online shopping they offer one day, or free shipping, online discounts etc. What is a business?

A business is an organization engaged in the trade of goods or services, or both to its customers

What is a business model?
Explains how the firm creates value for its customers and how it captures value. -Creates Value – a very basic explanation is how it makes life easier for the consumer (less time spent doing the task). For example how computers made it very easy to type an essay where as handwriting it takes a long time. -Captures Value – how a firm ‘captures the value’ i.e. putting a price on the value it has created. Revenues and profits.

Why are business models important?
Business model innovation creates opportunities in the market (as the example shown above, shopping which can be done online) which can create new...
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