Management and Business

Topics: Management, Business / Pages: 22 (5262 words) / Published: Jun 19th, 2013
1st of February 2013

Business organization and management

Business size

Small business: e.g. Independent service-station, restaurant

Medium business: e.g. coffee club, nando’s

Large business: Maccas, red rooster, kfc

Economies of scale; this term refers to the lower costs per unit of output as a result of operating on a larger scale.

Question 1. What is meant by economies of scale? Provide 3 examples of typical economies of scale enjoyed by large organizations:
a) Coles (big organization, buys in bulk)
b) Costco
c) Maccas

4th of February 2013

Business organization and management

Public vs. Private sector

Public sector is a government owned business, and a private sector is a privately owned business.

E.g. private-Bunning’s Public-health safety

Enterprise
-A project or undertaking, typically one that is difficult or requires effort.
-Initiative and resourcefulness.

Investment -The action or process of investing money for profit or material result.-A thing that is worth buying because it may be profitable or useful in the future.Economy-The wealth and resources of a country or region, esp. in terms of the production and consumption of goods and services.Summaries:Owners/Shareholders: Own a business, or a sector of the business and gain profit/suffer the loss on how the business runs.Managers: People who are employed on behalf of its owner, to over look the succession of the business.Investors/Lenders: Individuals, financial institutions or even other businesses who are able to fund the business.Public Sector: Government owned businessesPrivate Sector: Privately owned businessEnterprise: Initiative and resourcefulnessInvestment: Putting something within a business with the intention of getting something out of itEconomy: Wealth and resources of an entire countryOwners/Shareholders:A business is the property of it’s owner/s. The owners receive profit from the business. Shareholders usually have shares for large

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