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NATURE AND PURPOSE OF BUSINESS šš - Coggle Diagram
NATURE AND PURPOSE OF BUSINESS
šš
OBJECTIVES
To maximise profits
To increase market share
To survive in the market
To improve its image
INDUSTRY
SECONDARY INDUSTRY
Construction -Construction of buildings,roads,bridges
Manufacturing -Conversion of raw material into final goods
Services-Banking,consultancy,accountant,lawyer etc.
PRIMARY INDUSTRY
Extractive Industry -Extraction of underground resources
Genetic-People doing business by changing genes
COMMERCE
TRADE
Buying and selling
2 types of trade -Home and foreign trade
AID TO TRADE
Institutions that are meant and build to assit and support the trading process
Example: Banking ,communication,agents and insurance
FACTORS
DEMOGRAPHIC FACTORS
Population brings customers
Population tells the size of market and nature of customers
POLITICAL AND LEGAL FACTORS
Preference and pariorties of the goverment
Goverment of taxation policy
TECHNOLOGICAL FACTORS
Business people have to pace with the technological advancements
SOCIOCULTURAL FACTORS
Religion
Culture
NATURAL FACTORS
Act of god
Business people will develop product considering natural resources