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Business Management - Coggle Diagram
Business Management
Role of biz:
Human
Physical
Financial
To satisfy needs and wants
Needs- food, cloths, shelter
Consumer and capital goods
(Inputs):
Land, labour & Capital
Land:
All the natural resources
Fossil fuels
Minerals
Water
Soil
Air
Fire
Labour:
Physical and metal efforts of the man power to produce the product
To make the product
Capital: (2 types)
Human
Physical
Human:
Education
Training
Skills
Physical:
Machenry
Tools
Space
Cash
(Outputs): also known as product
Goods: (2 types): (Tangible objects) Ex: cars, laptop etc
Consumer (2 types)- for general public
Consumer durable goods- last for long, can be reused several times
Consumer non durable goods- Food, meat, milk, bread, fruits, thermocol products
Capital- producer goods, purchased by businesses to produce other goods and services.
UNIT 3
Cash Flow
Homework- 14th June 2021
Notes on cash flow (inclass)- 13th June 2021
