Summary Chapter 1 An Introduction to Business Management
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Course
Industrial Psychology
Institution
University Of Pretoria (UP)
Book
Introduction to Business Management
In this summary,m I have fully in an in-depth analytical way dove into the basics of business management. All the key factors of a business are discussed, in order to give you a full and better understanding of the mechanics of business.
Varsity College BCOM Year 1 Business Management 1A LU 1
MNB1501 Business Management IA Assignment 4 Quiz Answers (539204) Semester 1 2024
MNB1501 ASSESSMENT 3 SEMESTER 1 2024 SEARCHABLE
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Industrial Psychology
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Content preview
Chapter I Introduction to Business
Management
WhatISABusiness
An organisation or economicsystemwheregoodsandservices areexchangedforoneanother orformoney
of OR
produces andsellsgoods or whichprovides a service
DefyAnorganisation which
0
business am
or
i
i Invesments 2 non profit informal
2 Customer base largeenoughmakeprofit
servicesconsistentbasis
Whydobusinesses exists
Formal Informal Businesses
W satisfy humankindsrange of needs Formalsector are registered with therelevant
authorities andpay tax ontheir
howdotheydo this earnings
takingsaree resources factorsof
Production
GrossDomesti
GDP product
convertingthemintoproducts or services theiractivities arein
offeredfor of acountry
Theseproductsorservices arethen
something money ex Nando capitecBank
not registered andthereforedon
Imformalsector pay
types of need satisfying 2 tax monitored
theiractivitiesarenot
Organisations owned exnumbers
builders
state
forprofithaveprofitmotive profilestoshareholderswhenappropriate
distribute
satisfymarketsneeds
Éuenfactorsofproductionintoproducesservicesto
Enterprises sores government organisations
rivateOrganisations
business
A stateowned
typeofforprofit 90
individuals no telecom business900
collaborationbetweenprivate
ownedprivate ex saAirways
businessesowned in
excell
phone
restaurants
companies
mpricenotprivate
companieschs q parasang productsservices
supplies
state
ownermanaged strategiceconomicor
yippee
on
team the business
ownsmanages govfocused
importance
political ownership
saga ownership part products
occurinsectorssupply
Non ProfitOrganisations services electricity
water
transportation
meetpublicsneeds
worserproductsservices education
finances
wmain purpose offerproducts servicesthatare
The four ElementsOf
philanthropicorcommunitycentred
whohavefinancialobligations
needprofit
onlymaintain theirbasicexpenses
establishedindividual canrelievefunding
Business
fromgovotherbusinessesprivatecitizen
redcrosschoc 1 Humans human Activities
wex sanotpayoursalariestopeople
Do into
keepmoneyreinvestback
business 2 foods Services processes
3 Make Profit
4 Concept of exchange
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