Business study notes
Title: Business study notes
Category: Business & Economy | Words: 3660 | Pages: 15.6 (approximately 235 words/page)
Business study notes
Business Notes:
Chapter 1 - the nature of a business
Role a business plays in society:
"±Employs people
"±Basis of nations economy
"±Brings technological change and innovation
"±Offers choices relating to work and consumption
"±Provides social interaction
Definition of a business:
To produce goods and services to add value in the process of production
Value chain is the concept that value is added at each stage of production process, as inputs are transformed into final products
Making …
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The marketing plan is considered to be essential part of bus plan.
Market analysis outlines the external aspects of the marketing plan, including market size, target market, market share, growth in the market, competition and the behavior of consumers
Financial plan should outline financial requirements in the short and long term, as well as cash flow needs. This can be done through budgeting which gives forecasts and an analysis of recent bus. records.
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