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1.1 Introduction to BusMan (HR: handles human resources and relationships,…
1.1 Introduction to BusMan
value added: gives worth to good or service
production factors: land (natural resources), labour (human input), capital (manufactured resources), enterprise (driving individual)
HR: handles human resources and relationships
Finance and Accounts (handles money)
marketing: identifying and meeting needs and wants
operations: production processes
primary = extracting
secondary = manufacturing
tertiary = service
quaternary: knowledge, info, intellectual
value added
entrepreneur: takes risks and invests in and drives a new business idea
intrepreneur: develops and innovates within an organization
start business because of GETCASH (growth, earnings, transference, challenge, autonomy, security, hobby)
start a business with: ideas, research, business plan, structure, legal requirements
elements of a business plan
executive summary
descprition
environment
product description
marketing
finance
opertions
HR