MGT 1 - Business and It's Environment.pptx

Business and its environment

1. Business and its environment

2. What is a business? - All profit-seeking activities and enterprises that provide goods and services necessary to an economic system. 2

3. What is profit? -refers to the rewards for businesspersons who take the risks involved in producing and marketing goods and services. 3

4. Kinds of business Commerce. – engaged in buying and selling goods and services. 4

5. Kinds of business 2. Industry. – mainly engaged in production. Genetic Industries Extractive Industries Manufacturing Industries Construction Industries 5

6. Kinds of business 3. Services. – sells service to the buyer Recreation Personal Finance 6

7. The environment of business firms -the environment factors that affect the activities of the organization may be internal or external. 7

8. The external environment - The external factors consist of elements outside an organization that are relevant to business operations.

9. The direct action components of the external environment Customers Suppliers Labor Supply Competitors Monopoly Oligopoly Pure Competition

10. The direct action components of the external environment 10 5. Financial Institutions 6. Government Agencies

11. The indirect action components of the external environment 11 Technological Variable Economic Variable Socio-Cultural Variables Political-Legal Variables International Variables

12. Matching the organization with the environment 12

13. Ethics and social responsibility

14. What is business ethics? 14

15. The need for ethical behavior 15

16. Areas of concern for business ethics 16

17. Current issues in ethics 17

18. The improvement of ethical performance 18 Ethics Training Ethical Advocates Ethical Codes Whistle-blowing

19. What is social responsibility 19

20. Interest groups Owners Consumers Employees –Health and safety, Appropriate salaries and employee benefits, the right to speak out, the right to privacy, the right to job security. Minority Groups Women Older People Handicapped The community at large

21. Basic principles of management and organization g. Renumeration h. Centralization i . Scalar Chain j. Order k. Equity l. Stability of Tenure m. Initiative n. Esprit de Corps

22. Basic principles of management and organization 2. Principles of Organization – knowledge of the basic principles of organization. Principle of Objective Principle of Analysis Principle of Simplicity Principle of Functionalization

23. Educating managers 23

24. Thank you