An Introduction to Business Studies

9335 Words Oct 24th, 2010 38 Pages
B120
An Introduction to Business Studies

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Session 1 WHAT IS A BUSINESS?

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What is a Business?
Business is such an integral part of our lives that we do not normally stop to think about it. It is hard to define for the very reason that there is so much of it around us, in all sorts of different shapes and sizes

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What a Business Does?
Businesses come in all shapes and sizes, but have three factors in common: 1. people 2. objectives
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Stakeholders concept is important for two reasons: First: it emphasizes that stakeholder groups have different interests. Second: it illustrates the relationship between businesses and external environments.

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Business and Society
Businesses exist to:
Produce goods and provide services that society wants and needs, at a profit and they cannot take on additional responsibilities unless they perform these tasks successfully.
(Business depends on society providing resources such as: people, materials, services and infrastructure).

Society provides: vA means of exchange ( money ) vA legal system that effectively policed and enforced vDefense and trade arrangements
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SWOT Analysis
SWOT stands for: üStrengths üWeaknesses üOpportunities üThreats It is giving the business an overview of its position in relation to its internal & external environment.
(Consider in relation to four key businesses functions: marketing, operation, human resources and finance)
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Session 3 BUSINESS STRUCTURE

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Businesses Structures
Why are we studying “business structures”? A structure gives a business an identity and provides continuity.

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