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Introduction to Business Studies

Prepared By Ajay Bhardwaj

Frequently asked questions


What is Business Studies? It is a hybrid subject that combines management principles with other subjects such as accounting and law and requires a practical application of theory when in the real business world. MONEY make things happen. To make money we have to understand BUSINESS. Whether you want to be a BUSINESSMAN or PROFESSIONAL you must have a thorough grasp of sound BUSINESS PRINCIPLES, PROCESSES & TECHNIQUES How will Business Studies help me? BUSINESS STUDIES gives you a good grasp of business fundamentals which you will find very useful in your advanced studies such as when you read for a B.Sc. or an MBA. Science students intending to be professionals (doctors, engineers, etc.) may study Business Studies as their first exposure to the world of business. It will help to widen the combination of subjects. Students pursuing careers in business and related fields may find the subject useful as their first experience in management related disciplines
Prepared By Ajay Bhardwaj

The Importance of Business Studies in the Curriculum


Business activity affects the daily lives of all Indians as they work, spend, save, invest, travel, and play. It influences jobs, incomes, and opportunities for personal enterprise. Business has a significant effect on the standard of living and quality of life of Indians , and on the environment in which they live and which future generations will inherit.

Eventually, all students will encounter the world of business, whether they work in urban or rural areas. They must be pre- pared to engage in business activity with confidence and competence. Young people need to understand how business functions, the role it plays in our society, the opportunities it generates, the skills it requires, and the impact it can have on their own lives and on society, today and in the future.

Prepared By Ajay Bhardwaj

Is Business Studies a light subject?


Many think BUSINESS STUDIES to be a relatively light subject, but Business Studies is neither just common sense nor is it general knowledge. Business Studies involves a serious study of accepted management principles and relevant legislation that have an impact on business

Business Studies is challenging! It requires a variety of skills analytical skills and evaluation skills.

Prepared By Ajay Bhardwaj

Prepared By Ajay Bhardwaj

Business Functions

Finance Marketing Human Resources Management Production


Prepared By Ajay Bhardwaj

Finance
This refers to the money aspect of the business. It mainly involves managing the financial flows that support the other functional areas and keep detailed records of financial activity.

Prepared By Ajay Bhardwaj

Marketing
Many people see this as the heart of the business organization. Marketing is defines as the process involved in the identifying, anticipating and satisfying consumer needs profitably. Example of marketing activities are: Marketing Research, Advertising, Promotions, Pricing etc.
Prepared By Ajay Bhardwaj

Human Resources
The purpose of this function is to deal with the labour resources in an organization.
Google gets 1,300 resumes every day.
That adds up to nearly a half a million a year from people who want to come and work at the Googleplex HQ, famed for its free gourmet lunches and on site massages.

All activities related to employees pay, training, welfare, recruiting, motivating are the responsibility of this function.

Prepared By Ajay Bhardwaj

Production
This area deals with the making of goods or the provision of services. Functions relating to techniques of production, scheduling of production, stock levels, quality control all come under the production function.

Ford Motor Company Henry Ford was the founder of the Ford Motor Company and father of modern assembly lines in mass production.

Prepared By Ajay Bhardwaj

Prepared By Ajay Bhardwaj