Tag: business
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What is e-commerce?
E-commerce E commerce is buying and selling of goods and services through internet The concept of e-commerce is about using the Internet to do business efficiently Eg. amazon.com, ebay.com
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2 Sectors in Business
2 sectors in business Private sector Public sector
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Stakeholders in Business
Stakeholders in business Consumers Employees Managers Owners Financiers Shareholders Consumers Role They buy the goods and services provided by business Provide revenue to the business Objectives Get good quality products at good prices Appropriate customer care Employees Role Produce or provide goods and services for remuneration Objectives Get salary on time Job security…
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Different Objectives
Understanding different objectives Growth Profitability Market share Growth Growth is often associated with the sales or the number of employees New businesses do not aim for growth initially Profitability Profit is the difference between total costs and total revenues Almost all businesses aim for maximum profit Businesses need profit to pay the costs…
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Different ways to grow Business
Different ways by which business can grow Internal growth Growth achieved by retained profits External growth Mergers Horizontal merger Vertical merger Conglomerate merger
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Methods of measuring size
Different methods of measuring size of business units Number of employees Capital employed Profit Value of output and sales
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Primary Sector
Primary sector Primary sector involves changing natural resources into primary products The primary sector of the economy extracts or harvests products from the earth Examples: Fishing, Mining Farming, Forestry
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3 Sectors in Business activity
3 sectors in Business activity Primary sector Secondary sector Tertiary sector
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Objectives of Public enterprise
Objectives of public enterprise To create employment To operate even if no profit is generated To provide certain products or services such as: Electricity Transport
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Objectives of Private enterprise
Objectives of private enterprise To earn high profit To maximize the wealth of shareholders Growth To fulfill needs and wants of the people Examples: Multinational companies Big corporations