introduction to business chapter 1 functions of a business
Post on 21-Dec-2015
232 views
TRANSCRIPT
![Page 1: INTRODUCTION TO BUSINESS CHAPTER 1 Functions of a Business](https://reader035.vdocuments.us/reader035/viewer/2022062221/56649d645503460f94a4712e/html5/thumbnails/1.jpg)
INTRODUCTION TO BUSINESS
CHAPTER 1
Functions of a Business
![Page 2: INTRODUCTION TO BUSINESS CHAPTER 1 Functions of a Business](https://reader035.vdocuments.us/reader035/viewer/2022062221/56649d645503460f94a4712e/html5/thumbnails/2.jpg)
Course Info.
Why study business? How are we going to?
Web page: (Examples)
http://www.sba.pdx.edu
(faculty web page NOT blackboard)
Web page: Publisher (text pg. xxxi)
![Page 3: INTRODUCTION TO BUSINESS CHAPTER 1 Functions of a Business](https://reader035.vdocuments.us/reader035/viewer/2022062221/56649d645503460f94a4712e/html5/thumbnails/3.jpg)
About me…..
Teaching Experience: PSU for 10+
years, PCC,CCC
Other: Director, Columbia College; Juvenile Justice Center; Business Consulting; Sales; Restaurant
Education: Post Graduate Work (Systems Science/ Adult Ed.), MBA, BA & AA (Psychology)
![Page 4: INTRODUCTION TO BUSINESS CHAPTER 1 Functions of a Business](https://reader035.vdocuments.us/reader035/viewer/2022062221/56649d645503460f94a4712e/html5/thumbnails/4.jpg)
Goals for this Class
Know where you stand (earn A’s) Groups “get along” & RESPECT each other Fairness (please ask when/if you don’t understand
grading) Ignite a PASSION for Business All 5’s (standing ovation optional) Learn, meet people and have FUN
![Page 5: INTRODUCTION TO BUSINESS CHAPTER 1 Functions of a Business](https://reader035.vdocuments.us/reader035/viewer/2022062221/56649d645503460f94a4712e/html5/thumbnails/5.jpg)
About YOU!!
Quiz # 1
1. Name (first then last)2. Something UNIQUE about yourself (five words or
less)3. Best time for group meetings are:
Day of week? AM, PM?4 Which area of business are you most interested in
(mgmt., finance, mktg., info. systems, international)5. Hours per week you have scheduled for homework
time for this class.
![Page 6: INTRODUCTION TO BUSINESS CHAPTER 1 Functions of a Business](https://reader035.vdocuments.us/reader035/viewer/2022062221/56649d645503460f94a4712e/html5/thumbnails/6.jpg)
![Page 7: INTRODUCTION TO BUSINESS CHAPTER 1 Functions of a Business](https://reader035.vdocuments.us/reader035/viewer/2022062221/56649d645503460f94a4712e/html5/thumbnails/7.jpg)
Where Profits Come From
Revenue- (Expense)
Profits
Dem
an
d
Attra
ct
Exp
en
se
![Page 8: INTRODUCTION TO BUSINESS CHAPTER 1 Functions of a Business](https://reader035.vdocuments.us/reader035/viewer/2022062221/56649d645503460f94a4712e/html5/thumbnails/8.jpg)
Motives of a Business
To maximize a firms LONG TERM value.
http://www.cnbc.com/id/24669624?flvFile=resources/tSzaky/SzakyInterview_4.flv
Motives of nonprofit businesses Nonprofit organization: an organization that serves a specific cause and is not
intended to make profits. These are being altered with new business forms and “social entrepreneurship”. We will discuss forms of business organization and LLC’s in chapter 5.
![Page 9: INTRODUCTION TO BUSINESS CHAPTER 1 Functions of a Business](https://reader035.vdocuments.us/reader035/viewer/2022062221/56649d645503460f94a4712e/html5/thumbnails/9.jpg)
Resources Used by Businesses
Natural Resources any resources that can be used in their natural
form. Human Resources
people who are able to perform work for a business.
Capital machinery, equipment, tools, and physical
facilities used by a business.
![Page 10: INTRODUCTION TO BUSINESS CHAPTER 1 Functions of a Business](https://reader035.vdocuments.us/reader035/viewer/2022062221/56649d645503460f94a4712e/html5/thumbnails/10.jpg)
Resources Used by Businesses
Technology: knowledge or tools used to produce products and services.
Information technology: technology that enables information to be used to produce products and services.
Electronic business (e-business) or electronic commerce (e-commerce): use of electronic communications, such as the Internet, to produce or sell products and services.
![Page 11: INTRODUCTION TO BUSINESS CHAPTER 1 Functions of a Business](https://reader035.vdocuments.us/reader035/viewer/2022062221/56649d645503460f94a4712e/html5/thumbnails/11.jpg)
Resources Used by Businesses
Entrepreneurship Entrepreneurship: the creation of business
ideas and the willingness to take risk; the act of creating, organizing, and managing a business.
Entrepreneurs: people who organize, manage, and assume the risk of starting a business.
![Page 12: INTRODUCTION TO BUSINESS CHAPTER 1 Functions of a Business](https://reader035.vdocuments.us/reader035/viewer/2022062221/56649d645503460f94a4712e/html5/thumbnails/12.jpg)
Key Stakeholders in a Business
Stakeholders: people who have an interest in a business; the business’s owners, creditors, employees, suppliers, and customers.
Owners
![Page 13: INTRODUCTION TO BUSINESS CHAPTER 1 Functions of a Business](https://reader035.vdocuments.us/reader035/viewer/2022062221/56649d645503460f94a4712e/html5/thumbnails/13.jpg)
Key Stakeholders in a Business
Customers Summary of Key Stakeholders
Interactions Among Owners, Employees, Customers, Suppliers, and Creditors
![Page 14: INTRODUCTION TO BUSINESS CHAPTER 1 Functions of a Business](https://reader035.vdocuments.us/reader035/viewer/2022062221/56649d645503460f94a4712e/html5/thumbnails/14.jpg)
The Business Environment
Social Environment Demographics: Characteristics of the human
population or specific segments of the population.
Industry Environment Economic Environment
![Page 15: INTRODUCTION TO BUSINESS CHAPTER 1 Functions of a Business](https://reader035.vdocuments.us/reader035/viewer/2022062221/56649d645503460f94a4712e/html5/thumbnails/15.jpg)
The Business Environment
![Page 16: INTRODUCTION TO BUSINESS CHAPTER 1 Functions of a Business](https://reader035.vdocuments.us/reader035/viewer/2022062221/56649d645503460f94a4712e/html5/thumbnails/16.jpg)
Business Decisions Management: means by which employees and
other resources (such as machinery) are used by the firm.
Marketing: means by which products (or services) are developed, priced, distributed, and promoted to customers.
Finance: means by which firms obtain and use funds for their business operations.
We will add INTERNATIONAL
![Page 17: INTRODUCTION TO BUSINESS CHAPTER 1 Functions of a Business](https://reader035.vdocuments.us/reader035/viewer/2022062221/56649d645503460f94a4712e/html5/thumbnails/17.jpg)
Business Decisions How Business Decisions Rely on Information
Accounting: summary and analysis of the firm’s financial condition.
Information Systems: represent the information technology, people, and procedures that work together to provide appropriate information to the firm’s employees so they can make business decisions.
![Page 18: INTRODUCTION TO BUSINESS CHAPTER 1 Functions of a Business](https://reader035.vdocuments.us/reader035/viewer/2022062221/56649d645503460f94a4712e/html5/thumbnails/18.jpg)
How Business Decisions affect a firm’s earnings
![Page 19: INTRODUCTION TO BUSINESS CHAPTER 1 Functions of a Business](https://reader035.vdocuments.us/reader035/viewer/2022062221/56649d645503460f94a4712e/html5/thumbnails/19.jpg)
Business Ideas
List of 1 – 10 Please write ten ideas of business proposals
that would be “interesting” for you explore. Think of: Recent purchases, hobbies, family
friends, an unmet consumer need, where you have had to wait in line too long, something you are spending time on, or are frustrated about.
This is “brain storming” – only three minutes….do the best you can :)
![Page 20: INTRODUCTION TO BUSINESS CHAPTER 1 Functions of a Business](https://reader035.vdocuments.us/reader035/viewer/2022062221/56649d645503460f94a4712e/html5/thumbnails/20.jpg)
People
TASK vs. RELATIONSHIP Importance of Teamwork Assign Teams Exchange information – cell phone, email.
Must return calls within ____ and check email everyday.