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 - Business Management 1A R50,00
Add to cart
Quickly navigate to
Preview
  2.  
  3. University Of Johannesburg (UJ)
  4.  
  5. Business Management 1A

Summary

Summary - Business Management 1A
 21 views  0 purchase

This document consists of chapter summaries and key conceptst that is designed to assist students in preparing for their exams with ease and confidence. This comprehensive resource compiles concise summaries of each chapter covered throughout the course, providing a succinct overview of the main to...

[Show more]

Preview 1 out of 2  pages

Document information

  • June 14, 2023
  • 2
  • 2022/2023
  • Summary

Subjects

Written for

All documents for this subject (7)

Seller

avatar-seller
kiyanajagessur

Content preview

CHAPTER 1

WHAT IS A BUSINESS
 A BUSINESS IS RECOGNIZED AS AN INSTITUTION THAT IS ABLE TO IDENTIFY AND
OPPORTUNITY OR GAP IN THE MARKET TO SATUSFY CONSUMER NEEDS OR WANTS BY
ROVIDING GOODS AND SERVICES WITH THE AIM TO MAKE A PROFIT
o GOODS: TANGIBLE ITEMS THAT CONSUMERS PURCHASE AT A SET PRICE
o SERVICES: AN ACT, AMENITY OR BENEFIT THAT CONSUMERS PURCHASE/HIRE
INORDER TO MEET THEIR NEEDS AND WANTS
o PROFIT: THE MONEY LEFT OVER AFTER THE BUSINESS HAS PAID AL ITS EXPENSES

BUSINESS MANAGEMENT TASKS
 PLANNING
 LEADING
 ORGANISNG
 CONTROLLING

CONTRIBUTION OF THE BUSINESS ON THE MODERN
SOCIETY
 THE CREATION OF A PRODUCT HAS TO BE TRANSFORMED FROM ITS INITIAL STATE INTO THE
FINAL PRODUCT
 THE PRODUCTIONAND USE OF THE PRODUCT MUST INVOLVE HUMANS
 THE ULTIMATE GOAL OF THE BUSINESS SHOULD BE TO EARN A PROFIT

CONTINUED
 THE BUSINESS SECTOR PLAYS AN IMPORTANT ROLE IN DIRECTLY AND INDIRECTLY CREATING
JOBS
o GDP (GROSS DOMESTIC PRODUCT) IS THE AMOUNT OF GOODS SND SERVCIES
PRODUCED IN A COUNTRY WITHIN A YEAR
 ACCORDING TO STATS, THE FOLLOWING INDUSTRIES CONTRIBUTE LARGELY TO SOUTH
AFRICAS GDP
o FINANCE AND BANKING
o GOVERNMENT SPENDING
o MANUFACTURING
o IMPORTS AND EXPORTS
o MINING HAS SINCE DROPPED
o AGRICULTURE
 INORDER FOR BUSINESSES TO BE SUCCESSFUL, THEY NEED TO DEMEND ON OTHER
BUSINESSES
 THEY SHOULD ALSO FOCUS ON THE FOLLOWING ROLES



CONSUMER NEEDS AND WANTS
CONSUMER NEEDS ARE BOTH PHYSICAL AND PSYCHOLOGICAL

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 EFT, 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 this summary from?

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

Will I be stuck with a subscription?

No, you only buy this summary for R50,00. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

52355 documents were sold in the last 30 days

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

Start selling
R50,00
  • (0)
Add to cart
Added