Академический Документы
Профессиональный Документы
Культура Документы
In spite of the great obstacles hampering the economic growth, the Philippine economy continues to slowly grow but it does not fare well if compared with other countries in the Far East.
Business Defined
Business is any lawful economic activity
concerned with the production and/or distribution of goods or services for profit.
Kinds of Business
Commerce Industry Services
Kinds of Business
Business Commerce Industry Services Trading Buy and Sell Merchandising Marketing Genetic Finance
Assembling of Goods
Extractive
Recreation
Grading
Manufacturing
Personal
Warehousing
Construction
Transportation
Kinds of Business
Industry
Genetic industries are businesses involved in
agriculture, forestry, and fish culture. Extractive industries are businesses involved in the extraction of goods from natural resources which includes mining, lumbering, hunting, and fishing. Manufacturing industries are those which convert raw materials into finished products. Construction industries consist of firms engaged in building infrastructures like airports, seaports, dams, and highways.
Kinds of Business
Services
Recreation (i.e. movie houses, television and
radio stations, theater for drama and stage presentations, etc.) Personal (i.e. restaurants, barber shops, transportations, hotels, tailoring shops, etc.) Finance (i.e. such as banks, insurance companies, investment houses, financing institutions, credit unions, savings and loans associations, etc.)
Objectives of Business
Primary objective is for profit. Other goals could be:
1. 2. 3. Political influence Family control of the business Community involvement
Objectives of Business
To survive and grow, businesses must attain the following objectives:
1. 2.
a. b.
c.
The provision of products and services to the community; The satisfaction of personal objectives like:
Profits for owners Adequate salaries and compensation for executives and employees Psychic income for all, including pride in work, security, recognition, and acceptance
3.
4.
Protection and enhancement of the human and physical resources of society Economy and effectiveness of operation
Next Meeting
Readings
Chapter 2 of Business Finance, Second Edition by Roberto G. Medina
Quiz
Review on Chapter 1
Assignment
1. Why do persons engage in business? 2. How do you determine the feasibility of a business?