1.1 Introduction to Business Management.pptx

Into to Business Management

1. Group Activity: 7 Minutes Group 1: Human Resource Management Group 2: Marketing Group 3: Production / Operations Management Group 4: Accounting & Finance Define the business function assigned to you, and give examples of the role/tasks/goal/purpose of each business function.

2. The primary sector The primary sector refers to business activity involved with the extraction of natural resources. For example, metal ores and coal have to be mined, oil and natural gas have to be drilled from the ground, rubber needs to be extracted from trees, foodstuffs need to be farmed, livestock need to be managed by farmers, and fish need to be trawled. Hence, primary sector production is also known as extractive production.

3. The secondary sector The secondary sector refers to business activity involved with the manufacturing or construction of finished products. It encompasses transforming primary sector output into finished goods, ready for sale or use by the consumer. For example: Car manufacturing, Carpentry, Construction, Engineering, Food processing, Steelworks, Tailors and dress makers

4. The tertiary sector The tertiary sector refers business activity that involves providing services to customers, i.e. consumers and business clients. Tertiary sector output is the predominant sector in economically developed countries (or high-income economies). The tertiary sector of the economy accounts for the majority of gross domestic product (GDP) and employment in these countries. Advertising, Banking, Catering, Communications (telecommunications and Internet), Distribution, Education, Health care, Insurance, Legal services, Leisure and entertainment

5. The quaternary sector The quaternary sector refers to business activity involving the creation or sharing of knowledge and information. It involves using computer and digital information technologies. Tertiary and higher education, Information and communications technology (ICT), Management consultancy, Online educational providers, Research and development (R&D), Software and ‘app’ developers