Business Activity
by
zhalikiopoulos
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Business Activity
2) Processes
Human resources
Recruitment: finding the right person for the job
Training the employees
Pay: need to know how much each person should earn
Looking at employees relation and welfare
Human resources: workforce
Owners
sole trader
partnership
Directors
Mangers
Employees
part time
full time
Accounting and finance functions
management of money
Accounting function
collecting data
recording data
presenting data
analysis data
The Finance function
Sources of finance
Cash flow
Credit control
Marketing
Researching the market
New product development
Marketing mix (the 4 p's)
Product
Price
Place
Promotion
Production
New product development
Research and development (R & D)
Production planning
Quality control
Distribution
Purchasing and stock control
1) Inputs
Land
Used for a factory
Use for raw materials
The land owner gets rent
Labour
is the service the employees give
Most business are labour intensive, this is relatively cheap
The employs gets wages or a salary
Capital
money
Assets (what the business owns)
providers of capital receive interest
Enterprise
An idea that the founder or entrepreneur provides
Entrepreneurs get to keep the profit
3) outputs
Good
Fast Moving Consumer Goods are bought on a regular basis.
Consumer durables: have long term value
White Goods
Brown Goods
Consumables: Items with a short life and little value
Capital goods: Plant and Equipment used to produce consumer goods
Services