. . Introduction to Business includes hundreds of current business examples from a range of industries and geographic locations, which feature a variety of individuals. Know the relationship of business finance in other disciplines particularly accounting. As of this date, Scribd will manage your SlideShare account and any content you may have on SlideShare, and Scribd's General Terms of Use and Privacy Policy will apply. If you continue browsing the site, you agree to the use of cookies on this website. This ppt defines business finance, become familiar with the role of business finance and knowing the important consideration of risks in financial decision making. See our Privacy Policy and User Agreement for details. . Slideshare uses cookies to improve functionality and performance, and to provide you with relevant advertising. . Of course, not all companies have an R&D function; many companies simply resell products that other firms make. If you continue browsing the site, you agree to the use of cookies on this website. The nature and behavior of these groups and their effect on business strategy vary widely from industry to industry. If you wish to opt out, please close your SlideShare account. Although managers in other functional areas are usually closely involved with hiring and training the employees in their respective departments, HR usually oversees these processes and supports the other departments as needed. . The result of these decisions is a company’s business model – a clearly stated outline of how the business intends to generate revenue. The human resources (HR) function is responsible for recruiting, hiring, developing, and supporting employees. On November 1, 2005, Chris Clark begins a business that will be known as NetSolutions. . Individuals, communities, and entire nations benefit in multiple ways from the efforts of businesses, but even responsibly-managed companies can at times have negative impacts on society in return. The driving forces behind most businesses are the prospects of earning profit and building assets. No public clipboards found for this slide. See our User Agreement and Privacy Policy. We use your LinkedIn profile and activity data to personalize ads and to show you more relevant ads. . Every business operates in an overlapping mix of dynamic environments that continuously create both opportunities and constraints. . Each company in the value chain makes certain choices about what it will do to generate revenue – money the company brings in through the sale of goods and services. Scribd will begin operating the SlideShare business on December 1, 2020 . The functional areas in a business coordinate their efforts to understand and satisfy customer needs. Business law ppt 1. Learn more. However, to ensure responsible behavior, these risks need to stay attached to those decisions, meaning if a decision turns out to be bad, that company would suffer the consequences. These services can be performed by in-house staff, external firms, or a combination of the two. A business transaction is an economic event or condition that directly changes an entity’s financial condition or directly affects its results of operations. As of this date, Scribd will manage your SlideShare account and any content you may have on SlideShare, and Scribd's General Terms of Use and Privacy Policy will apply. One of the beauties of a free-market economy is that companies usually have a lot of flexibility in deciding which customers they want to focus on and how they want to compete. . * * * A business is usually defined as a commercial enterprise Some are run by only one person who carry out all of the required functions Others employ thousands of people and provide goods and services to people all over the world Each business can be defined or described by its type of ownership, the goods produced or services offered, the types of jobs provided, or the functions it performs in a community Businesses … Products are conceived and designed through research and development (R&D), sometimes known as product design or engineering. Introduction to business law Unit 1 1 2. A company needs to see some promise of reward before it will decide to accept the risks involved in creating and selling products. A wide variety of business services exist to help companies with specific needs in law, banking, real estate, and other areas. The technological environment stems from the practical application of science to innovations, products, and processes. In addition to supervising the actual production activity, operations managers are responsible for a wide range of other strategies and decisions, including purchasing (arranging to buy the necessary materials for manufacturing), logistics (coordinating the incoming flow of materials and the outgoing flow of finished products), and facilities management (everything from planning new buildings to maintaining them).

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