Download - Session 1_Overview of Business
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.
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