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Business Ch 1.
Transcript of Business Ch 1.
( Goods and Services ) to gain profit.
*Non-Profit Orgs.: they operate as businesses but seeking no profit and serving their community
2- Social Environment:
integrated system of (age, gender, income ... etc.)
the business should take care of diversity in this environment and concern about its changes.
moving towards a connected world with independent economy.
Technology is pretty much expensive and time consuming.
Types of Businesses
serves a limited area and local customers to sustain the business
serves a wider area (ex. MENA) but still not international
Factors of production
: When 2 businesses or more are contend to gain an advantage and get more customers
Benefits of Tech.
lowering down costs
Human relations and networking
Each of the 4 could be a challenge or and opportunity, it's all about how can the company deal with it
Capital (Real, Financial)
serving through many outlets inside the country and doesn't operate internationally ( Gdeda masha'allah)
it operates in many countries and it maybe serving int. consumers or operating in one country having brunches in many other countries.
Types of Business ownership
1. Sole Proprietorship:
owned and operated by one person.
owned and operated by two or more people.
: A business that is a legal entity separate from its owners.
4. Limited Liability Company (LLC):
it's a mix of all types mentioned above ^
mn gher LLC ^ :D
Running life like a Business