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Introduction to BM - Coggle Diagram
Introduction to BM
What is a business?
Inputs and Outputs
Goods
Capital
Consumer
durables
Non-durables
Common terms
Including Entrepreneur(ship)
Departments of a business
Finance and accounts
Marketing
Human Resource Management
Operations management
Economic Sector
Secondary
Tertiary
Quaternary
Primary
Opportunities and challenges
Challenges
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Types of businesses
Private
Profit
Unincorporated
Sole traders
Adv. and disadv.
Partnerships
Adv. and disadv.
Silent partners
partnership deed
incorporated
companies
private limited
Joint-stock companies
Public limited
Flotation
IPO
BOD & AGMs
Official documents
articles of association
Memorandum of association
certificate of incorporation
Adv. Disadv.
Raging Lions Climb Every Palm tree.
Cats Are Cute, Delightful, Blissful, Lawyers
Public
Reasons for public sector business activity
essential goods and services
employment
stabilise economy
avoid wasteful competition
protect citizens and businesses
Social enterprises
For profit
Private sector
Public sector
the three aims
Cooperatives
Consumer
Producer
Worker
Adv. and disadv.
Non-profit
NGOs
2 key features
types
operational
advocacy
Stakeholders
External Stakeholders
Financiers
Pressure groups
Lobbying
Public Relations
Boycotting
Direct action
Suppliers
Competitors
Customers
Government
Internal Stakeholders
Managers & directors
Employees
Shareholders
Stakeholder conflict
Stakeholder mapping
3 key aspects
goals and objectives
source and degree of power
Type of business identity
Business Objectives
Statements
Vision
Mission
Limitations
Objectives & Strategies
Objectives
Examples
Importance
Ethical
Adv. & Disadv.
Components
Strategies & Tactics
Tactical Objectives
Strategic objectives
CSR
Types of CSRs
Variability
MNCs
TNCs
MNCs
Reasons
Host Countries
Negative
Positve
GDP
Growth and evolution
diseconomies/economies of scale
External
Diseconomies of scale
Higher rents
Higher pay/financial rewards
traffic congestion
Economies of scale
skilled labor
regional specialisation
improved transportation networks
technological progress
Internal
economies of scale
Managerial
Specialisation
Marketing
Financial
Purchasing
Technical
Risk-bearing
Diseconomies of scale
lower productive efficiency
bureaucracy
poor working relationships
complacency
loss of control and coordination
optimal level of output
Growth
Reasons
For growth
Economies of scale
lower prices
brand recognition
brand reputation
value-added services
greater choice
customer loyalty
Against growth
Government aid
Local monopoly power
Financial risks
Personalised service
loss of control
Cost control
Flexibility
Small market size
Internal
Adv. Disadv.
Methods
preferential credit
capital expenditure
Improved placement
employee training/development
better products
value for money
Improved promotion
Changing price
External
Adv. Disadv.
Methods
M&As
acquisition
synergy
merger
types
Horizontal
Vertical
Backward
Forward
Lateral
Conglomerate M&As
Adv. Disadv.
Takeovers
Joint Venture (JV)
Adv.
Drawbacks
Strategic Alliance (SA)
4 key stages
Adv.
Franchising
Franchisor
Benefits
Drawbacks
Royalty payment
Franchisee
Drawbacks
Benefits