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Unit 1 introduction to business organisation

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Any organization that fulfills itself through making a product or service is business. This presentation slides is apt for BBA I Semester students from Chaudhary Charan SIngh University

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Unit 1 introduction to business organisation

  1. 1. Introduction to Business Organisation Manish Kumar Manish.kumar@iamr.ac.in
  2. 2. Business  “Any organisation that fulfils itself through making a product or service is business.” P.F. Drucker  “It is an institution organized and operated to provide goods and services to society under the incentive of private gain” B.O. Wheeler
  3. 3. Featuresof Business  Business is a social institutions  Dealings in goods and services  Sale, transfer or exchange  Regularity in dealings  Promoter/owner/entrepreneur  Organisation and management  Capital, investment and finance  Risk taking  Forecasting  Surplus generation  Generation of values and utilities
  4. 4. Essentialsof successful business  Business plan  Measuring goals  Networking  Team of dedicated employees  Education and training  Tools and equipment
  5. 5. Scopeof Business  The scope of business is very wide. It includes a large number of activities which may be classified under two broad categories , namely, Industry and Commerce.
  6. 6. Objectivesof business Organic Human National Economic Social
  7. 7. Organic Objective  A business enterprise consists of people organised to conduct business activity to meet and satisfy the needs of society. It is essentially an organic entity which has its own infancy, childhood, adulthood, and maturity.  The first concern of a business enterprise is to ensure its own survival for the continuance of business activity.
  8. 8. Human Objectives Fair deal to employees Development of human resources Participation Job Satisfaction
  9. 9. National Objectives Ensuring Social Justice Development of small entrepreneurs Production according to national priorities National Self- Sufficiency and Export Development Development of skilled personnel
  10. 10. Economic objective Earning of profit Creation of customers Innovation Best use of scarce resources
  11. 11. Socialobjective Supply of desired quality of products Avoidance of anti social and unfair trade practices Generation of employment Welfare of employees Avoidance of slums and pollution
  12. 12. Classificationof business activities Trade Commerce Industry
  13. 13. Trade Internal or home trade External or foreign trade
  14. 14. Commerce  Trade  Auxiliaries to trade  Middlemen  Transport and Communication  Warehousing  Insurance  Finance  Advertsing
  15. 15. Industry Primary Secondary Tertiary
  16. 16. Primary Industries Extractive Industries Genetic Industries
  17. 17. Secondary Industries Construction Industries Manufacturing Industries
  18. 18. Benefitsof business  Production of goods  Business supplies services  Creation of customers  Business has helped raising standard of living  Creation of customers
  19. 19. Business Organization
  20. 20. Introduction  Business organization is an economic arrangement of person where all efforts are directed to achieve a common economic goal.
  21. 21. Characteristics ofBusiness Organization  Adequacy of capital  Flexibility of operation  Business secrecy  Ownership management and control  Minimum government regulations  Limit of liability  Ease in formation  Tax consideration  Bargaining power
  22. 22. Objectivesof Business Organization  Aiming towards consumers satisfaction  Shouldering responsibility  Creation of employment opportunity  Welfare to employment  Optimum utilization of country’s natural resources  Maximum return on investment  Social welfare  National objective  Maintaining business ethics  Maintaining law and order.
  23. 23. Settingupa business organization  Evolution of objective  Formulation of plan  Suitable location, layout and volume of business  Appropriate organization and management  Optimum financing  Trouble free production and distribution system  Risk bearing and sustaining capacity  Expansion and growth orientation
  24. 24. Importanceof business organization  Distribution  Feedback  Finance management  Fixing of responsibilities  Minimum cost  Minimum wastage  Product growth  Quick decision  Recognition problems  Reduces the cost  Skilled salesmen  Transportation
  25. 25. Modern business Old concept of business Modern concept of business
  26. 26. OldConcept  Business may be defined as human activity directed towards producing or acquiring wealth through buying or selling goods.  Business may be defined as an activity in which different persons exchange something value, whether goods or services for mutual gains or profits
  27. 27. Modern conceptof business  Business means the whole of complex of commerce and industry-the basic industries and the network of ancillary industries , banking, insurance ,transport and so on.
  28. 28. Changing objectives of modern business  Production and supply of quality goods and services  Contribution to the general welfare of the society  Social and psychological satisfaction of employees  Well-being of socially and economically backward  Promotion of social justice  Contribute to the revenue of the country  Adoption of fair trade practices  Development of human resources  Creation of employment  Self-sufficiency and export promotion
  29. 29. Trendsin modern business  Foreign direct investment  Customization  Social media  E-business  Business process outsourcing  Trade in agricultural and manufacturing goods  Containerized cargo  Cloud comp  Business combination  Green marketing  Corporate social responsibility
  30. 30. Businessand profession BASIS FOR COMPARISON BUSINESS PROFESSION Meaning Business is an economic activity concerned with the production or purchase and sale of merchandise and rendering of services with the purpose of earning profit. Profession is a form of economic activities, wherein special skills, knowledge and expertise is required to be applied by the person, in his occupation. Basic objective Earning profit Rendering services Establishment On the decision of entrepreneur and fulfillment of legal formalities. Membership of the respective professional body and certificate of practice. Qualification No minimum qualification. Specialized knowledge of study is required. Capital Required as per the size and nature of business. Limited capital is required. Reward Profit Professional fee Code of conduct No prescribed code of conduct. Code of conduct prescribed by the professional bodies needs to be followed. Advertisement Products and services are advertised to increase sales. Advertisement is prohibited as per professional code of conduct.

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