What Is Business Studies? Business will attract customers by provision of quality desired goods and services at reasonable prices. Special interest groups have grown in number and power over the last three decades, putting more constraints on marketers. Those who have undergone training in Business Studies can be employed as: Self-employment, for students who proceed to the University after a successful senior secondary education, can study the following courses, accountancy. Abstract. The managers job cannot be accomplished in a vacuum within the organization. Importance of understanding the environment, Changing profile of Indian economic environment, Your Article Library: Business Environment: Nature and Significances of Business Environment, https://en.wikiversity.org/w/index.php?title=Introduction_to_Business_Studies&oldid=1801853, Creative Commons Attribution-ShareAlike License, a)Businesses may be doomed to be non starters due to. Introduction. Assessment. Accounting - This refers to a systematic way of recording business activities which all used for decision making 3. Some decades ago, the means by which people earned their living was through trade by barter system. i. busy shops and supermarkets, here and there. Bookkeeping is concerned with the recording of business transactions in an orderly and meaningful manner. Stenographers who take dictations in shorthand in offices. Stockholders/shareholders are investors who become co-owners or partial owners of firms by buying the firm's stock. Further, Problem 1 Text: A family has to decide how much of their monthly income to spend on good 1 and good 2. Warehouses store and protect the goods before they move to the next destination. The cookie is used to store the user consent for the cookies in the category "Performance". In the context of business[1]the environment refers to the sum of internal and external forces operating on an organization. Significant liberalization[4] of its investment regime since 1991 has made India an attractive place for foreign direct and portfolio investment. Farmer, Fisherman, Manufacturer. Each day in the United States, thousands of new businesses are born. In a small firm, all these jobs may be done by one or two people. The managers must perforce recognize the elements, severity and impact of these forces on the organization. These. Need for Monitoring and Control of Chemical. The managers must perforce recognize the elements, severity and impact of these forces on the organization. Introduction to Management Science and Business Analytics: A Modeling and Case Studies Approach with Spreadsheets 7th Edition By Frederick Hillier and Mark Hillier ISBN10: 1260716295 ISBN13: 9781260716290 Copyright: 2023 Management Science and Business Analytics Read more + Lowest Price Rent eBook (180 Days) Learn more about the ebook $57.00 The organization must continuously monitor and adapt to the environment if it is to survive and prosper. These micro environmental forces include the organization's market, its producer-suppliers, and its marketing intermediaries. Introduction to business studies 1 of 11 Introduction to business studies Sep. 15, 2015 5 likes 4,300 views Download Now Download to read offline Education this slides can be useful when introducing grade 10 business studies in the classroom. The Resource An introduction to business studies, Book 2, An introduction to human resource management in business, written by Diane Preston An introduction to business studies, Book 2, An introduction to human resource management in business, written by Diane Preston Receptionists who receive and attend to visitors and make telephone calls in an office. Importance Of Business Studies 1) Business Studies prepares students for office work. Introduction. They are services provided by persons for which they are paid. Subject: Business and finance. )So his mother is explaining, how she manages home and what are the different type of activities are required on a regular basis?) Economics - This is the study of how human beings strive to satisfy their endless wants using the available scarce resources 4. v. hairdressing activities 5.Keyboarding: Keyboarding refers to the process of operating or manipulating the various keys of the typewriter or a computer keyboard. The cookie is used to store the user consent for the cookies in the category "Other. It deals with activities carried out on a day-to-day basis within an organization. The word "business" means the state of being busy. motor mechanic at work etc. introduction to business studies 2. the office 3. departments in an office organization 4. the office staff 5. the right attitude to work 6. introduction to commerce 7. division of commerce 8. production 9. types of business organization 10. consumer, market, and society 11. factors of production 12. occupation i 13. occupation ii Meaning Of Business Studies It is imperative for an organization to know their customers, how to reach them and when customers' needs change in order to adjust its marketing efforts accordingly. Changes in social/cultural environment affect customer behavior, which affects sales of products. This level, the term business studies comprise various areas of business that can be studied, analyzed and explained. business centre, typesetting and photocopying documents. Therefore arm robbery, prostitution, human trafficking etc are not business by this definition. ii) Business studies:Is the study/examination of the business activities in society. To browse Academia.edu and the wider internet faster and more securely, please take a few seconds toupgrade your browser. BBM 113: Introduction to Business Studies Notes 1st Year, 1st Semester Institution: Mount Kenya University Course: Bachelor of Business Management Posted By: Mabongajoel Document Type: PDF Price: KES 1000 Views: 12276 Downloads: 10 Summary Lesson one:Introduction to business concept lesson Two:Business Ownership Lesson Three: Business Environment 4. . Introduction to Translation Studies - Fall 2020 21:940: Professor Stephanie Rodriguez. Hard copy refers to information on paper while softcopy refers to information on the computer storage device such as compact disc or flash drive. These cookies will be stored in your browser only with your consent. viii. A market is people or organizations with wants to satisfy, money to spend, and the willingness to spend it. These are items that are tangible i.e. This is the study of how human beings strive to satisfy their endless wants using the available, This refers to a systematic way of recording business activities which all used for decision, This refers to all activities that are carried out in an office e.g. It gives ones a better understanding of the world of work and efforts to satisfied human needs. 30% comes from your test. Green marketing or environmental concern about the physical environment has intensified in recent years. In the late 1980s, however, India relied on foreign borrowing to finance development plans to a greater extent than before. Use the links below. 2) It gives opportunity for self reliance. This module provides the basic structures upon which the business world is built: how it is organized, what outside forces influence it, and where it is heading. When you have completed the free practice test, click 'View Results' to see your results. Form 1 Introduction to Business Studies Notes. These cookies track visitors across websites and collect information to provide customized ads. Business Studies JSS 1 Week 1 Topic: Introduction to Commerce Content: Meaning of commerce Commercial Activities Importance of Commerce Activities which aid Commerce A. 3 | P a g e 1. This unit covers the basic concepts that give context to a business. U.S. investors also have provided an estimated 11% of the $18 billion of foreign portfolio investment that has entered India since 1992. iv. Depending on where you live, or school you may observe some or a number of the following activities. This cookie is set by GDPR Cookie Consent plugin. The public expects organizations to be ethical and responsible. Further, suppose that the price. Business studies can also be define as the study concerned with how human and financial resources are organised and utilized to satisfy human needs. Disciplines of Business Studies 1. By clicking Accept All, you consent to the use of ALL the cookies. The subject covered by the studies of business are mainly: Business Administration or business management Economics 5. How To Become A Recharge Card Distributor In Ghana, How To Start A Supermarket Business In Ghana, How To Start A Phone Charging Business In Ghana, How To Become A Profitable Car Dealer In Ghana. iv. Meaning & Importance Evolution of Business Explain Organizations can limit their energy usage by increasing efficiency. To learn more, view ourPrivacy Policy. To avoid shortages in raw materials, organizations can use renewable resources (such as forests) and alternatives (such as solar and wind energy) for nonrenewable resources (such as oil and coal). The rapid rate at which technology changes has forced organizations to quickly adapt in terms of how they develop, price, distribute, and promote their products. Introduction to Mathematics for Business Studies. Advances in technology can start new industries, radically alter or destroy existing industries, and stimulate entirely separate markets. 2.4 Multidimensional. What can you explain the owners of these centres are doing? An organization with an environmental management perspective takes aggressive actions to affect the forces in its marketing environment rather than simply watching and reacting to it. communication, filling, clerical, This is the study of activities involved in the process of identifying a business opportunity and, acquiring the necessary resources to start and run a business. FIRST TERM. An example of response by marketers to special interests is green marketing, the use of recyclable or biodegradable packing materials as part of marketing strategy. Good luck! Meaning and Origin According to the Longman Dictionary of Contemporary English, business studies is the study of economics and management. Book Keeping: Book keeping deals with recording of business transaction to show the exact state of the owners capital. Foreign investment is particularly sought after in power generation, telecommunications, ports, roads, petroleum exploration and processing, and mining. Topic: Introduction to Business Studies. vi. 5 1 review. Technological developments are the most manageable uncontrollable force faced by marketers. Goods are tangible items produced and traded by businesses in order to generate profits. The external environment has a major impact on the determination of marketing decisions. Clerical officers who keep general office records. idea to sell to the teacher, with the aim of. To the sum of internal and external forces operating on an organization may be done by one or two.. Studies prepares students for office work in power generation, telecommunications, ports, roads, petroleum exploration processing... Produced and traded by businesses in order to generate profits seconds toupgrade your only! Business that can be studied, analyzed and explained you Explain the owners.... Shops and supermarkets, here and there are services provided by persons for which they are services provided by for. 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