FOUNDATION IN ARTS
INTRODUCTION TO
BUSINESS
INTRODUCTION TO BUSINESS
(CHAPTER 1, PART 2)
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INTRODUCTION TO BUSINESS
FOUR FUNCTIONS OF BUSINESS
• PROVIDE
GOODS &
SERVICES
• PROTECT
• FUNCTIO
• PROVIDE
THE
EMPLOYME
ENVIRONME NS NT
NT
• CONTRIBUT
E TO THE
ECONOMY
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INTRODUCTION TO BUSINESS
FUNCTIONS OF BUSINESS
PROVIDE GOODS AND SERVICES
Making raw materials and finished products useful to customers
i. Creating new products
• Expand to new products – diversify the business
• Improve the product quality (eg: hand phone)
ii. Creating an organized markets
• Responsible to transfer the service & product to the customer
at the right time & right place
• Product availability & convenient to customer, e.g.. Shopping
mall
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INTRODUCTION TO BUSINESS
FUNCTIONS OF BUSINESS
PROVIDE GOODS AND SERVICES (cont’d)
• The Apple / iPhone example:
• Software and Design – USA
• Assembly – Taiwan
• LCD Screens – Japan
• Touch Screen Tech – Germany
• Bluetooth Chip – UK
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INTRODUCTION TO BUSINESS
FUNCTIONS OF BUSINESS
PROVIDE EMPLOYMENT
i. Opening more jobs opportunity to society.
Businesses need employees to function.
ii. Reduce poverty and increases quality of life.
Jobs provide means to access more resources.
Example:
• Apple currently employs 300k.
• Walmart employs 2.1 million.
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INTRODUCTION TO BUSINESS
FUNCTIONS OF BUSINESS
HELPING THE COUNTRY TO INCREASE THE GROWTH
RATE
i. Businesses promote international trade.
Businesses and consumers need other resources from
other countries.
ii. International trade helps economies grow.
Flow of voluntary exchange benefits all parties.
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INTRODUCTION TO BUSINESS
FUNCTIONS OF BUSINESS
• Example: Chinese Economic Miracle
• The economy began its liberalization in the 1970s.
• Foreign investors came with jobs and capital.
• It is now the 2nd largest economy.
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INTRODUCTION TO BUSINESS
FUNCTIONS OF BUSINESS
HELPING TO PROTECT THE
ENVIRONMENT
i. to preserve the environment,
reduce contamination and • http://blog.warstory.co/wp-content/uploads/2013/04/anita-roddick.jp
pollution
ii. together with consumer;
promote the environmentally safe
product & services
Examples: Body Shop
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INTRODUCTION TO BUSINESS
FUNCTIONS OF BUSINESS
• HELPING TO PROTECT THE ENVIRONMENT (con’t)
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