Scribd Logo
Upload

Welcome to Scribd!

  • 1K views

    Business Explained

    Uploaded by

    kawyahv
    The document discusses the basic requirements for starting a business including finance, labor, customers, suppliers, premises and equipment, and management organization and structure. It also discusses business aims and objectives, and provides examples of vision and mission statements. The key aspects covered are the resources needed to start a business, defining aims and objectives, and understanding the difference between vision and mission statements.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd

    Business Explained

    Uploaded by

    kawyahv
    1K views13 pages
    The document discusses the basic requirements for starting a business including finance, labor, customers, suppliers, premises and equipment, and management organization and structure. It also discusses business aims and objectives, and provides examples of vision and mission statements. The key aspects covered are the resources needed to start a business, defining aims and objectives, and understanding the difference between vision and mission statements.

    Original Title

    business explained

    Copyright

    © © All Rights Reserved

    Available Formats

    PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    The document discusses the basic requirements for starting a business including finance, labor, customers, suppliers, premises and equipment, and management organization and structure. It also discusses business aims and objectives, and provides examples of vision and mission statements. The key aspects covered are the resources needed to start a business, defining aims and objectives, and understanding the difference between vision and mission statements.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    1K views13 pages

    Business Explained

    Uploaded by

    kawyahv
    The document discusses the basic requirements for starting a business including finance, labor, customers, suppliers, premises and equipment, and management organization and structure. It also discusses business aims and objectives, and provides examples of vision and mission statements. The key aspects covered are the resources needed to start a business, defining aims and objectives, and understanding the difference between vision and mission statements.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 13

    Unit 1 –Introduction to Business & Its

    Structure

    1
    Session No: 02
    Basic requirements for a
    business….

    2
    1.1.1 Basic Resources for a Business

    3
    Requirement Description

    Finance This is the hardest thing to obtain in a start-up business. Finance is very important
    to fund labor, customer, suppliers, premises and equipment, and so on.

    Labor Labor is very essential to help develop a product or service and then to produce
    and deliver
    Customers People who buy from a business is known as customers and they are known as a
    key aspect.
    Suppliers Suppliers provide many of the “inputs”, such as raw materials.
    Premises and equipment This may be a simple office, or possibly a large, modern factory; this depends on
    the business activity
    Management organization There are different forms of business which are available, and hence this is often
    & structure very simple at the start-up stage (e.g. a sole trader). With the growth of the
    business it is essential to have a proper legal and organizational structure.
    Product or services Designed, researched and tested product or service has to be brought to the
    marketplace in its best format in order to maintain a business.

    4
    1.1.2 Business Aims and Objectives
    What is an Aim?
     A business aim is the goal a business wants to achieve

    What is an Objectives?
     A detailed picture of a step you plan to take in order to
    achieve a stated aim.

    5
    Statement of Vision and Mission

    The vision of the business can be defined as a Road map to the


    future of the business. This "map" is drawn by looking at the history
    of the business, the current situation of the business and the ideal
    position the business would like to achieve in future

    6
    A mission statement sets out the business vision and values that
    enables employees, managers, customers and even suppliers to
    understand the underlying basis for the actions of the business.

    Lets have a look on some examples

    7
    “To be the best quick service restaurant
    experience”

    ‘’To be the most preferred airline in Asia’’

    “To make people happy”

    “To become the world's leading Consumer Company for


    automotive products and services”

    8
    Benefits of having a Vision Statement

    •Good visions are inspiring and exhilarating.


    •Good vision foster long term thinking.
    •Good vision help in the creation of a common
    identity and a shared sense of purpose.
    •Good visions are competitive, original and unique.

    9
    MISSION STATEMENT
    Essential purpose of the organization, concerning particularly why it is in
    existence, the nature of the business it is in, and the customers it seeks to
    serve and satisfy.”

    “Purpose or reason for the organization’s existence.”

    Mission is an enduring statement of purpose that distinguishes one


    firm from other similar firm.”

    A short declaration of the present state, central purpose, strategies,


    and values of an organization.
    10
    Examples :

    “To give people the power to share and make


    the world more open and connected”

    “Provide a global trading platform where


    practically anyone can trade practically anything”

    “To refresh the world in mind, body and spirit.


    To inspire moments of optimism and happiness
    through our brands and actions”

    11
    SUMMERY OF Vision vs Mission

     A Vision statement describes what the


    organization would like to become.

     A Mission statement describes what the organization is now.


    “What the company is providing to society?”

    12
    Then What is SMART criteria …?

    13

    You might also like