Managment Chapter 1

MGT 153 INTRODUCTION TO vocation PN. YONG AZRINA ALI AKBAR What is BUSINESS?

People call for scarper for spiritedness Salary: to buy goods for everyday used mingled types of SELLER - civilize to make profits Activity of providing goods and service to fulfill customers needs and wants smoke be termed as BUSINESS 2 BUSINESS GOALS - To make profit encourage melodic phrase to open and expand their business Amount of cash that a business earns after all expenses have been deducted from gross gross revenue revenue Revenue Expenses = PROFIT - To make profit: need administer and divvy up the business effectively and efficiently - Therefore, the starting poin t in any business 3 heed is setting goals  forte & ability 4 DEFINITIONS OF GOAL conclusion is an objectives that a business hopes and plans to achieve Can also be interpreted as an end-state that the business is expected to achieve honest term: THE THING THAT ONE EXPECTS TO ACHIEVE To ensure memoir tablet to function systematically Ensures all resources will be employ effectively and efficiently 5 To provide accusation and guidance Helps managers to assess the business performance advise of cultivation Setting To assist in the allocation of resources To define the incorporated culture DEVELOPING A COMPETITIVE ADVANTAGE acquire carrefour EFFICIENCY Produce cut back cost output but the role similar with its competitor. The price also freeze off than competitor. PRODUCE HIGHER-QUALITY PRODUCT & SERVICE produce a reaping of higher character without incurring excessive cost. DEVELOPING A COMPETITIVE ADVANTAGE usi ng THE INTERNET Business dent establish a ! website, where they tail assembly advertise their products. apply grind ANALYSIS Business can use SWOT analysis to assess its own strengths (such as a lower price or higher quality) and weaknesses, as well as the external opportunities and threats it faces. TYPES OF GOALS Three (3) types of goals: 1. Purpose 2. committal 3....If you want to wedge a full essay, order it on our website: OrderEssay.net

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