Introduction to Business: Business activities and objectives

Business is an economic activity involved in buying and selling of goods and services with a profit making objective. Business plays important role for the development of the economy. Small Scale and Medium Scale Industries are integral part of any economy.

Opportunity and Problems

Introduction to Business: Small Scale and Medium Enterprises

Small Scale Industries

Introduction of Business: Franchising and outsourcing

Introduction to Business: Multinational Companies

Business enterprises: Types of business organizations

Business Enterprise: Types of business Organization

Business Enterprises: Setting up a business enterprise

For starting any business enterprise it is important to understand the market and consumer behavior. One also have to do SWOT analysis and have to identify the future prospects of achieving break-even analysis. The finance and venture capital structure, mission, vision and company structure needs to be drafted. Strategic and long term planning relating to human resource, finance and marketing related strategies needs to be formulated. For all such practices it is important to do proper homework and prepare business plan before implementing any business ideas in practice. This section focuses on how to prepare for business plan and what steps are involved.

Management

Management is the life line for running any organization. Management is the process of managing all the processes and functions of the organization in an effective and efficient manner. Management also defines the managerial roles in an organization and departmentation is one of the important aspect of management. This section focusses on introduction of management, managerial roles and departmentation.

Foundations of Management – Departmentation

Departmentation is the process of dividing the similar activities in groups.

Functions of Management : Planning

Management involves the following functions: 1.Planning 2. Organizing 3.Staffing 4. Directing 5. Coordinating 6. Controlling

Functions of Management : Staffing

Staffing is recruiting the correct person at the correct place and on the correct time. Wrong selection would always leads to dissatisfaction in the employee as well as the employer.

Functions of Management : Directing

Directing is the process which includes the supervision, mentoring and delegating the work to the subordinates.

Functions of Management : Organizing

Organizing involves assigning tasks, grouping tasks into departments, delegating authority, and allocating resources across the organization. During the organizing process, managers coordinate employees, resources, policies, and procedures to facilitate the goals identified in the plan.

Leadership, Coordination and Motivation

Leadership, coordination and Motivation plays important role deciding upon the growth of an organization and employee retainment. Leaders play role in influencing in creating a working environment for the employees.

Coordination

Coordination helps in ensuring the completion of tasks without hassles in an organization.

Motivation

When working in an organization and a given set up at times one feels lower morale and fell low, at that time its a leader who motivates the employee and overcome his/her problems.

Motivation Theories

Communication and Controlling

Communication is the process of communicating with internal and external environment of the organization. Controlling is the process of mapping the targeted goals with the achieved goals in realty.
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