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Summary Unit 1: Business Organisation and Environment (SL&HL) £7.49
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Summary Unit 1: Business Organisation and Environment (SL&HL)

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These IB Business Management notes for unit 1: business organisation and environment cover every syllabus point in detail and contain all definitions from the textbook. Covers both SL and HL specifications. Organised, typed and easy to understand.

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  • Unit 1: business organisation and environment
  • July 24, 2018
  • 40
  • 2017/2018
  • Summary

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1.1 Introduction to Business Manaee♀ent

The role of businesses in co♀binine hu♀an, physical and fnancial resources to create eoods and
services

Business Inputs:
 Land- site for buildings and raw materials
 Capital- the fnance needed to set up a business and pay for its contnuing operatonss as
well as all of the man-made resources used in productonn ngn fnances factoriess ofcess
machines
 nterprise/entrepreneurship- the driving force of businesss provided by risk-taking
individualss which combines the other factors of producton into a unit that is capable of
producing goods and servicesn
 Labour- Make up the workforce of the businessn Can be skilleds unskilleds temporary or
permanentn
 Also needs: government (schoolss law and orders roadss rails and airports)s customers and
suppliersn

The Main Business Functions and their roles

1n Human resources- people in the companyn Hirings trainings fring employeesn
2n Finance and accounts- fnance the companys paying shareholders
3n Marketng- market researchs product designs advertses forecast sales
4n Operatons management- efciency of producton

Pri♀ary, Secondary , Tertiary and Quaternary sectors

 Primary- extractng natural resources and raw materials
 Secondary- the manufacturing and processing of raw materials
 Tertary- services
 Quaternary- hi- tech

I♀pact of Sectorial chanee on business activityy

Benefts of an increase in secondary sector actvity (industrialisaton):
 GDP increasess so living standards increase
 An increased output results in lower imports and higher exports
 More jobs are created
 Firms pay more tax to the government
 Value is added to the county's output of raw materials
Problems:
 Increases in jobs in manufacturing causes rural-urban migratons leading to housing and
social problems
 The skills of workers may decrease with more employees
 Raw materials needed which increase import costs
 Polluton adds to the environmental problems

Benefts of an increase in tertary sector actvity (deindustrialisaton):
 Cheaper labour for developed countries who use the labour from countries where the
secondary sector actvity is increasingn

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