100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
Previously searched by you
Previously searched by you
logo
Summary IB Business and Management HL Chapter 1: Introduction to business and management CA$8.35   Add to cart
Quickly navigate to
Preview
  2.  
  3. Bachillerato
  4.  
  5. Bachillerato
  6.  
  7. Business economics

Summary

Summary IB Business and Management HL Chapter 1: Introduction to business and management

 81 views  0 purchase
  • Course
  • Business economics
  • Institution
  • Bachillerato
  • Book
  • Business and Management

This is a summary of IB Business and Management HL Chapter 1: Introduction to business and management . You will find definitions, examples, explanations... It is a complete summary that together with the other xIB Business and Management HL notes I offer you can get a really good grade. You will ...

[Show more]

Preview 2 out of 12  pages

Document information

  • No
  • Chapter 1: introduction to business and management
  • November 14, 2021
  • 12
  • 2020/2021
  • Summary

Subjects

  • ib hl
  • ib business and management hl
  • ib
  • ib business and management hl revision notes
  • ib business and management hl notes
  • ib business and management hl chapter 1 introduction to business and managemen

Connected book

book image

Book Title:

Author(s):

  • Edition:
  • ISBN:
  • Edition:

More summaries for

  • Unit 1 Introduction to Business - IB Business Management
  • BUSS_421_FT BUSINESS AND MANAGEMENT STUDIES Latest Update
  • IB Business Unit 5 Summary (SL)
All for this textbook (8)

Written for

  • Secondary school
  • Bachillerato
  • Business economics
  • 2
All documents for this subject (69)

Seller

avatar-seller
marcoviladevall

Reviews received

Content preview

1.1 Introduction to business and management
1 A business is a decision making organization It combines human physical andfinará
resources to produce goods and provide cervices

2 Main business functions

21 HumanResources Thefunction of using managing anddeveloping an organization
workforce to meetthecompany objectives E recruitment wages
g
22 FinanceandaccountsThemanagement function
of managing Theorganization's money
and assets It andreporting of finara
ensures accurate recording
documentation


23 Marketing Themanagement process predicting identifying andmeetingMe
of
needs and wants customers in a profitable manner Incharge
of
Promotion advertisement
of
24 Operations concentrated with researchanddevelopmentdelivery Stock management
It is incharge providing Theright goods andservices at right
of
quantity in a cost
effective manner

3 Businesssectors

Primary Extractionharvesting andconversion ofnatural sources Lowvalueaded
Secondary Manufacturing construction

Terciary Providing servicesand retail transportationrestaurantsbanking
Quaternary Knowledge and innovation basedactivities educationlibraries

4 Sectorial change
Impactofsectorial change Industrialization primary tosecondaryandtertiary
1 Products become morerefined more export potential
2 Increased standard of education
3 Greaterfocus an customer service
4 Higher household income

5 Entrepreneurship andintrapronewship
EntrepreneursIndividualwhoplansorganizes and
manages a business taking an financial
risks in doingso Rewarded withprofit

Intraproneurs Beingan entrepreneurbut asan employee in an organization Rewarded
withpayand remuneration

, 1.1
6 Reasons forstarting a business GETCASH
GROWTH CHALLENGE AUTONOMY SECURITY HOBBIES


7 Steps in starting a business
1 Writtenbusinessplan 2 Obtain startup capital andrecognition 3 Openbusinessbankaccam

8 ProblemsNEWbusiness may face
Lackof financeCashflow problems Lack ofmanpower
Legalities can be Complex Highproduction costs
9 Elements of a business
plan
TheBusiness Theproduct tThefinance marketing market t personnel


4.2 Types of organizations
1 Distinction between PRIVATE and PUBLIC sectors

a PRIVATESector businesses Goalof PROFITMAXIMIZATION
Owned andcontrolled by private individuals businesses
e PUBLICSECTORbusinesses Mainaim provide essential goods andservices

2 Mainfeaturesof forprofit Commercial organizations

Business owned and controlled
a SOLETRADER
by one person
of
simplestform business
TheONEowner takes all profits and liabilities
Profittaking Unlimited liability
town boss Limited sources of finance
Fastdecisionmaking Limited economies ofscale
control
e PARTERSHIP Is by
a business rom twoormore individuals who forma partnership
Theowners raise finance collectively and share responsibilities
Financial strengthandprivacy Unlimited liability
Work división Slowerdecision making
costeffective Disagreements and conflicts
Businessowned
e COMPANYKORPORATION
by
money toprovide
shareholders Shareholders arethosewhohaveinvested
capitalfor a Company
LaPeoplewhoinvests are risquingTheir own mamey Limitedliability

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

Guaranteed quality through customer reviews

Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.

Quick and easy check-out

Quick and easy check-out

You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.

Focus on what matters

Focus on what matters

Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!

Frequently asked questions

What do I get when I buy this document?

You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.

Satisfaction guarantee: how does it work?

Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.

Who am I buying these notes from?

Stuvia is a marketplace, so you are not buying this document from us, but from seller marcoviladevall. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for CA$8.35. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

58993 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 14 years now

Start selling
CA$8.35
  • (0)
  Add to cart