Entrepreneurship
A phenomenon in which a person
searches for an opportunity and try to avail it.
Components of
business
Industry
Commerce
Industry
Conversion of raw material into
finished goods.
This is a form utility
Types of
Industry
Primary Industry
Extractive Industry Extraction
of underground resources.
Genetics People doing business
by changing genes.
Types of
industries
Secondary
Industry
Construction Construction of
buildings, roads, bridges etc.
Manufacturing Conversion of raw
material into final goods.
Services Banking, consultancy,
accountant, Lawyer, Interior decorator, designer,
music composer etc.
Commerce
All those activities which start
from the warehouse of the manufacturer to the buyer.
Types of
commerce
Trade
Trade means buying and selling
Aid to trade
Institutions that are meant and
build to assist and support the trading process.
Factors of production
Labor _ People working in an
organization.
Capital _ Amount invested by
investor in the business.
Entrepreneurship _ Management
ability of the people who are running the business.
Physical Resources _ Land, labor,
building, vehicles, machinery etc.
Economic System
A system for allocation of
resources.
Types of
Economic Systems
Planned Economy
Free market Economy
Types of
environmental forces
External Forces
Factors found outside an
organization.
These factors are not controllable by the
organization
Types of
environmental forces
Internal Forces
Factors within the organization.
These are controllable by the
organization.
SWOT Analysis
Strengths
Weaknesses
Opportunities
Threats
No comments:
Post a Comment