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Makalah Introduction Into Business

This document provides an introduction to business operations and the key divisions that keep businesses running efficiently. It discusses four main divisions: production, which involves creating products and services using techniques like just-in-time inventory; marketing, which identifies customer needs and promotes products through advertising and sales; finance, which manages capital, billing, and financial relationships; and human resource management, which handles hiring, training, compensation and benefits to support employees.

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247 views2 pages

Makalah Introduction Into Business

This document provides an introduction to business operations and the key divisions that keep businesses running efficiently. It discusses four main divisions: production, which involves creating products and services using techniques like just-in-time inventory; marketing, which identifies customer needs and promotes products through advertising and sales; finance, which manages capital, billing, and financial relationships; and human resource management, which handles hiring, training, compensation and benefits to support employees.

Uploaded by

Prayoga Yoga
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as DOCX, PDF, TXT or read online on Scribd
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Introduction into business English

Business is an organized approach to providing customers with the goods and services they want.
The word business also refers to an organization that provides these goods and services. Most
businesses seek to make a profit - that is, they aim to achieve revenues that exceed the costs of
operating the business. Prominent examples of for-profit businesses include Mitsubishi Group,
General Motors Corporation, and Royal Dutch/Shell Group. However, some businesses only seek to
earn enough to cover their operating costs. Commonly caled nonprofits. these organizations are
primarily nongovernmental service providers. Examples of nonprofit businesses include such
organizations as social service agencies, foundations, advocacy groups, and many hospitals.

Business Operations

A variety of operations keep businesses, especialy large corporations, running efficiently and
effectively. Common business operation divisions include (1) production. (2) marketing, (3) finance,
and (4) human resource managemeni.

Production includes those activities invoived in conceptualizing, designing, and creating products
and services. In recent years there have been dramatic changes in theway goods are produced.
monitor, control, and even Flexible, high-tech minutes what it used to accomplish. Another has been
the trend toward The word inventory refers business keeps available just-in-time inventory, the
needs for the next day or on fast, global computer them to respond quickly to changes in consumer
demand. Inventories are thus minimized and businesses can invest more in product research,
development, and marketing. Today. computers help perform work machines can do m take people
hours to iinponant deveioprnent just-in-time inventory. to the amount of goods a for wholesale or
retail. In firm stocks only what it two. Many businesses rely communications to allow Woodfin Camp
and Associates,

Marketing is the process of identifying the goods and services that consumers need and want and
providing those goods and services at the right pnce, place, and time. Businesses develop marketing
strategies by conducting research to determine what products and services potential customers
think they would like to be able to purchase. Firms also promote their products and services through
such techniques as advertising and personalized sales, which serve to inform potential customers
and motivate them to purchase. Firms that market products for which there is always some demand,
such as foods and household goods, often advertise if they face competition from other firms
marketing similar products. Such products rarely need to be sold face-to-face. On the other hand,
firms that market products and services that buyers will want to see, Iuse, or better understand
before buying, often rely on personalized saies. Expensive and durable goods- such as automobiles,
electronics, or furniture – benefit from personalized sales, as do legal, financial, and accounting
services.

Finance involves the management of money All businesses must have enough capital on hand to
pay their bills, and for-proft businesses seek extra capital to expand their operations. In some cases,
they raise long-term capital by selling ownership in the company. Other common financial activities
include granting, monitoring, and collecting on credit or loans and ensuring that customers pay bills
on time. The financial division of any business must also establish a good working relationship with a
bank This is particularly important when a business wants to obtain a loan.

Businesses rely on effective human resource management (HRM) to ensure that they hire and keep
good employees, and that they are able to respond to conflicts between workers and management.
HRM specialists initially determine the number and type ofemplovees that a business will need over
its first few years of operation. They are then responsible for recruiting new empiovees to replace
those who leave and for filing newiy created positions. A business's HRM division also trains or
arranges for the training of its staff to encourage worker productivity, efficiency, and satisfaction,
and to promote the overall success of the business. Finally, human resource managers create
workers compensation plans and benefit packages for empioyees.

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