semestr 4

Business

An organization that makes or sells things or services.

Human Resources

The people who work in a company.

Physical Resources

Things like buildings and machines.

Financial Resources

Money used in business.

Enterprise Resources

resources used in a business (people, money, equipment).

Capital-Intensive Processes

Work that needs a lot of machines.

Labour-Intensive Processes

Work that needs a lot of workers.

Goods

Things you can touch, like food or clothes.

Services

Things people do for others, like transport or haircut.

Human Resources

Finds and trains workers.

Markieting

Tells people about products.

Finance and Accounts

Manages money and payments.

Operation Management and Production

Plans how things are made.

Primary Sector

Gets things from nature (farming, fishing).

Secondary Sector

Makes products (factories).

Tertiary Sector

Gives services (shops, transport).

Quaternary Sector

Works with knowledge (IT, research).

All businesses are organized according to four main functions. Name and define two

Marketing Human Resources Finance and Accounts Operations Management Marketing: Tells people about the product. Human Resources: Finds and trains workers.

Business activities have been grouped into sectors. Name and define two and give examples:

Primary Secondary Tertiary Quaternary Primary Sector: Gets things from nature (e.g., farming, fishing) Secondary Sector: Makes products in factories (e.g., cars, clothes)

4 reason for starting up a business

bo be own business, to earn money, to meet market needs, to do what you love

5 tips for a start-up

check the market first, make a good business plan, use money cerfuly, focus on customer service, be flexible and learn from mistake