Topic 1: Overview of Business Specific Objectives:

Transcript:Topic 1: Overview of Business Specific Objectives::
Topic 1: Overview of Business Specific Objectives: Overview of Business State various business types and sectors Introduction to Industrial Sectors Describe importance of globalisation Objectives: Get familiarized with the environment related to business processes. Know the management aspects of the organisation. Understand role and responsibilities of a Diploma Engineer. Understand importance of quality improvement techniques. Appreciate need and importance of safety in industries. Understand process of Industrial finance and its management. Know the latest trends in industrial management. Concept of Business Organization A firm is an ownership organization which combines the factors of production (men, material and machines) in a plant for the purpose of producing goods or services and selling them at profit. The type of Business depends upon the following factors : Size and nature of the business to be started. Technical Difficulties. Market Competition and scope of the articles in the market. Capital required to start the business and means to collect the funds. 5. Limitations and restrictions put forth by the Government in connection with grant of loans, foreign exchange and such other things. Business Functions Human Resources Marketing Finance Production (Operations) Human Resources Manpower Planning Job analysis and Job description Determining wages and salaries Recruitment and Selection Training and Development Employee welfare and motivation Labour management relations Performance Appraisal Marketing Conducting Market Research Price Planning Customer Relationship Management Identifying New Business Opportunities Product Planning Distribution Planning Consumer Analysis Finance Advice on the financial and tax implications of business decisions Management of wages Raising Finance Preparation and monitoring of annual budgets and forecasts Production Production and planning Purchasing department Stores department Manufacture of products Design and technical support department Private Enterprises Individual Ownership Partnership Private Limited Company Co-operative Sector Enterprises Housing Co-operative Society Consumers Co-operative Society Public Sector Enterprises Government Department Government Company Service Business The term Business Service is also used to mean a Service that is delivered to Business Customers by Business Units. For example: delivery of financial services to Customers of a bank, or goods to the Customers of a retail store. Successful delivery of Business Services often depends on one or more IT Services. The typical service business provides intangible* products, such as accounting, banking, consulting, cleaning, landscaping, education, insurance, treatment & transportation services. (Not physically touched) Manufacturing Business A manufacturing business is any business that uses components, parts or raw materials to make a finished good. These finished goods can be