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1. BUSINESS MANAGEMENT Chapter 6 CHARACTERISTICS OF BUSINESS NỘI DUNG I. Giới thiệu về tập đoàn Vingroup II. Mô hình kinh doanh của Vingroup ở lĩnh vực bất động sản III. Phong cách quản trị của tập đoàn Vingroup

2. CONTENT 6.1. The Nature Of Business 6.2. Changes Affecting Business 6.3. The Contribution Of Business

3. Đỏ đen Trắng Vàng lè 6.1 The Nature Of Business 6.1.1 Explain the nature of business activities 6.1.2 Describe the general types of business

4. 2 Business Production Marketing Finance Goods-producing businesses Service businesses Industry

5. MANAGEMENT OF BUSINESS ACTIVITIES Business is an organization that produces or distributes a good or service for profit. Production involves making a product or providing a service. Marketing includes the activities between businesses and customers involved in buying and selling goods and services. Finance deals with all of the money matters involved in running a business.

6.  CHECKPOINT  What are the major differences between a manufacturing firm and a service firm? Manufacturing firms create products that customers purchase to satisfy needs. Service firms use the skills of employees to offer activities and assistance to satisfy customer needs.

7. TYPES OF BUSINESS Goods-producing businesses produce goods used by other businesses, organizations, governments, or consumers. Service businesses primarily use labor to offer mostly intangible products to satisfy consumer needs. Industry refers to all businesses within a category doing similar work.

8. Expected Employment in Major Industries by 2018

9.  CHECKPOINT  Building on the examples provided above, name three other examples of goods-producing businesses and three other examples of service businesses. Many answers are possible but should match the definitions of types of businesses from the lesson.

10. Đỏ đen Trắng Vàng lè 6.2 Changes Affecting Business 6.2.1 Describe how innovations affect businesses. 6.2.2 Identify the impact global competition has had on U.S. businesses 6.2.3. Discuss ways in which. businesses can improve their business practices.

11. KEY TERMS Quá trình phát triển Innovation Global competition Domestic goods Foreign goods Effectiveness Efficiency Output Productivity Downsize Empowerment

12. Innovation’s Impact on Management Quá trình phát triển Innovation is a new idea or new implementation of an existing idea. Innovations affect the kinds of products and services offered for sale. Innovations affect business operations.

13.  CHECKPOINT  Identify several ways that innovations affect businesses. Innovations affect the kinds of products and services offered for sale by other businesses. They also affect business operations and the way business is conducted.

14. Impact of Global Competition on Business Management Quá trình phát triển Foreign companies learned to produce innovative designs for products. Global competition is the ability of businesses from one country to compete with similar businesses in other countries. Domestic goods are products made by firms in the United States. Foreign goods are products made by firms in other countries.

15.  CHECKPOINT  Identify two major types of changes that present challenges to business. U.S. businesses face increased global innovation and competition.

16. Focusing Management on the Right Things Quá trình phát triển Effectiveness means making the right decisions about what products or services to offer customers and the best ways to produce and deliver them. Efficiency means producing products and services quickly, at low cost, without wasting time and materials. Achieving Effectiveness

17. Focusing Management on the Right Things ( Continued ) Quá trình phát triển Achieving Efficiency Output is the quantity produced within a given time. Productivity refers to producing the largest quantity in the least amount of time by using efficient methods and modern equipment. Specialization Technology and Innovation

18. Focusing Management on the Right Things ( Continued ) Quá trình phát triển Reorganization of Work Downsize means reducing the amount and variety of goods and services produced and the number of employees needed to produce them. Empowerment is letting workers participate in determining how to perform their work tasks and offer ideas on how to improve the work process.

19.  CHECKPOINT  Why must companies be concerned about both effectiveness and efficiency? Customers expect high quality at a low cost, and global competition requires both effectiveness and efficiency.

20. Đỏ đen Trắng Vàng lè 6.3 The Contributions of Business 6.3.1 Identify two ways a nation measures its economic growth and prosperity. 6.3.2 Describe the benefits of business ownership to the nation and individuals.

21. KEY TERMS Quá trình phát triển G ross domestic product (GDP) U nderground economy E ntrepreneur Franchise F ranchisor F ranchisee

22. Business Growth and Prosperity Quá trình phát triển Gross Domestic Product Gross domestic product (GDP) is the total market value of all goods and services produced in a country in a year. Underground economy refers to income that escapes being recorded in the GDP. Individual Well- Being : Standard of Life , Quality of Life

23. Gross Domestic Product Largest Economies in 2014 Quá trình phát triển

24.  CHECKPOINT  What does gross domestic product (GDP) measure? GDP is the total market value of all goods and services produced in a country in a year.

25. Business Ownership Quá trình phát triển Entrepreneur is someone who starts, manages, and owns a business. Popularity of Small Business Growth of Franchise Business Franchise is a legal agreement in which an individual or small group of investors purchases the right to sell a company’s product or service under the company’s name and trademark.

26. Business Ownership (C ontinued ) Quá trình phát triển Growth of Franchise Business (continued) Franchisor is the parent company of a franchise agreement that provides the product or service. Franchisee is the distributor of a franchised product or service. Risks of Ownership Obligations of Ownership

27. Examples of Franchises Quá trình phát triển

28.  CHECKPOINT  Describe the groups to whom business owners are responsible. Business owners are responsible to customers, employees, management, competitors, investors, and the public.