Introduction to business by Agha Tahir Ijaz Qazi Shahzad Ehtesham
concept of business Nature of Business , Characteristics of Business , Functions and Objectives of Business Elements of Business , Role of Business , Elements of Goods Business Business Man ,Qualities of Good Business Man Professional Qualities , steps establish for a new business , Responsibilities of the Business ,
2. Student learning
• Concept and meaning of Business
• Business as Economic Activity
• Characteristics of Business
• Objectives of Business
• Importance of Business
• Establishment of New Business
• Qualities of a Good Businessman
• Elements of Successful Business
• Responsibilities of Business
3. Definitions
• Business is An enterprise engaged in the
Production and distribution of goods for sale
in market or rendering service for a price.
(R.N.Ownes)
• Activities Undertaken Profit
• Main Points of Definition
• Human Activity . Production . Gain Of Wealth
4. Nature Of Business
• Human Activity
• System
• Social Process
• Economic Activity
5. Examples Of Business
• Manufacturing
• Mining
• Agricultural
• Trading ( distribution of goods and services)
• Service Enterprises
6. Characteristics Of Business
• Goods and Services
• Profit Motive
• Element Of Risk
• Management
• Capital
• Employment
• Regular Transactions
• Creation of utility
• Transaction For a Price
• Reasonable Profit
• Exchange Of Ideas
• Creating Customers
• Innovation
• Services of Middleman
• Culture
7. Objective / Functions Of Business
• Profit Objective
• Social Services
• Employment
• Investment
• National Interests
• Economic Development
• Innovation
• Use of Technology
• Optimum combination
• Sales Functions
• Benefits for employees
• Training
• Better living Standard
• Use of Resources
• Favourble Balance of Payment
8. Elements Of A Good Business
• Expert Management
• Large Capital
• Planning
• Innovation
• Use of Technology
• Quality Product
• Increase in Sale
• Sound Organizational Structure
• Reasonable Profit
• Ideal Location
• Trained Staff
• Modern Machinery
• Regular Demand
9. Importance/Role OF Business
• Needs Of Life
• Production
• Use of Idle Resources
• Optimum Use of Resources
• Progress of Other Fields
• Employment Opportunities
• Better Standard of Livings
• Investment Opportunities
• Innovations
• Revenue of Government
• Increase in Exchange
• Foreign Relation
• Survival Of Country
• Urbanization
• Development of Country
• Good Will of the Country
10. BusinessMan
• BusinessMan is a person who is engaged in
buying and selling or in production of Goods
and Services to earn Profit
• OR
• Every Person who is connected with Any legal
Activity for the purpose of making profit .The
person may be a distributor of Goods or
consultant or owner of a factory
11. Main Points
• A person
• Engaged in legal Activity
• Production , buying and selling of Goods or
Services
• Purpose is earning Profit
12. Qualities Of A Good Business Man
• Quality means Doing it right when no one is looking
• Two types of Qualities
• Personal Qualities
• Foresight
• Courteous
• Hardworking
• Honest
• Man of Principles
• Confident
• Leadership
• Patience
13. Professional Qualities
• Ability to Plan
• Ability to Organize
• Capital
• Experienced
• Technical Skills
• Desire of Progress
• Ability of Innovation
• Coordination
• Business Knowledge
• Market Knowledge
• Social Responsibility
14. Steps For Establishing A New Business
With A view to Do Business
• Nature Of Business
• Govt. Restrictions
• Size of Business
• Organizational structure
• Selection of Place
• Govt. Incentives
15. Steps
• View to Run Business
• Management
• Availability of Capital
• Availability of Machine
• Availability Of Raw Material
• Power Resources
• Availability of Labour
• Availability of Experts
• Means Of Transportations
• Selection of Distributors
16. Steps
• With A View of Result
• Future of Business
• Chances of Loss
• Chances of expansions
17. Responsibilities Of the Business
• Responsibilities Towards Shareholders
creditors
• To insure safety of Investment
• To provide a fair and regular dividend or
interest
• To Provide regular and accurate information
Position of The company
• To Give equal Treatment to All shareholders
18. Responsibilities Of the Business
• Responsibilities Toward Employees
• To Pay a Regular Wage or Salary
• To Provide Good Working Conditions
• To guarantee freedom of Religion and political
views
• To Provide opportunities for education and
self development
19. Responsibilities Of the Business
• Responsibilities Toward Customers
• To Provide Goods of Standard Quality
• To charge fair Price
• To Provide courteous services
• To Handle consumers complaints
20. Responsibilities Of the Business
• Responsibilities towards Government
• To Abide by the Laws of the land
• To Pay Taxes regularly
• To Avoid Monopolistic
• To refrain from corruption
21. Responsibilities Of the Business
• Responsibilities Toward the Public
• To Protect The environment
• To Provide More and More employment
opportunities
• To preserve Social and cultural values
• To Help weaker section of society
22. Responsibilities Of the Business
• Responsibilities Towards Suppliers and
competitors
• To Make fair and regular Payment to Supplier
• To Protect Small scale industry
• To Adopt Fair trade Practice
Notes de l'éditeur
Literal meaning of term Business is a state of being busy,exchange of value , mutual gain or profit , systematic Activity , regular Purchase & sale, earning Profit , satisfaction of Human needs
Activites includes Production or exchange … Under taken include satisfaction of Human Wants and needs
1 earning Profit .2 sound arrangement of various factors 3 employees ,Professionals customers 4 creation and consumption of wealth
1 factories deals with goods doctors lawyer deals with services.. 5 Sources of capital are friends Family financial institutes… 6 transporters bankers Agents
3 Amount of Capital Quantity of Production demands for the Goods Market Scope