9716 How to Define Business Business is any commercial activity that seeks profit by providing goods andor services to others in exchange for money Wants and needs are provided by businesses ID: 597131
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Slide1
Business Activities
9/7/16Slide2
How to Define Business
Business is any commercial activity that seeks profit by providing goods and/or services to others in exchange for money.
Wants and needs are provided by businesses.
Businesses can provide consumers or other businesses with goods and services (Business to Business)PROFITProfit is the money left over after a the cost of doing business has been paid.Slide3
Business
Businesses provide goods and services with the motivation of making profits.
Businesses benefit the entire community
Businesses pay taxes (think public wants)Businesses employ peopleSlide4
Business’s Motivation
Companies thrive on
competition
the contest between businesses to win customers. Who is Carmines competition?Slide5
Significance of Competition
Cheese lovers’ tastes are changing to specialty cheeses. While cheddar and mozzarella are mainstays, sheep’s and goat’s milk cheeses are moving straight ahead to your nearest deli counter.
Imagine you want to become a cheese maker. What kind of cheese would you make. Why?Slide6
Significance of Competition
Competition is possible because companies have the freedom to produce the products they think will be the most profitable.
When shopping, if you are deciding between two similar items, what properties do you use to compare the two items?
Consumers look to find the best quality products at the lowest prices.Slide7
Significance of Competition
Businesses must compete to satisfy consumers by providing quality goods and services with outstanding service at competitive prices.Slide8
Business Activities
EVERY business performs the same six activities:
Identify opportunities for products or services
Evaluate the demand for products or servicesObtain start-up money and operating capital (money to allow daily business operations to continue)
Manage the production of goods and/or services
Market the goods and/or services
Keep records to satisfy government requirements and improve business processesSlide9
Role Play #1
Pair up (at least one person needs to have their Chromebook )
Situation
You are an assistant manager for a company that makes household appliances. Your manager has asked you to put together a presentation about the activities of business for its new sales associates.Activity Prepare a presentation that describes all of the activities that businesses undertake in order to sell products and services. Use the internet to find images that represent all of the activities, and include the images in your presentation. Then give the presentation to the sales associates (classmates).
Evaluation
You will be evaluated on how well you meet the following performance indicators:
Explain the motivations of business
Describe business activities
Discuss how competition impacts the company’s decisions.
Prepare a presentation.