02.08.21
What is business?
Goal :
Understand the
Write down
↳ business
when
is
in
services
or
of
definition
a
Business
is
the
services
to
satisfy
of
purpose
a
business
business
people
for
profit / money
production and/or sale
needs , wants
the
purpose of
googling
exchange goods
companies
or
exchange
without
,
of
goods and/or
of
and demands
profit
organization
consumers
businesses
exist
making
;
an
wants
of
a
this
up to do
set
°
the
with
to
community Their job
we want and need !
is
.
to
needs
the
meet
provide the
and
services and
the
goods
Characteristics of businesses
-
l
.
Types of businesses
goal
↳
profit
↳
nonprofits
↳
not for
money
:
all
to
make
money
:
is
$$
goes
profits the good
members
2.
:
is
made , the
is
to
not
charity
to
make
profits are divided
(employees)
Sizes of businesses
↳ Small
business
l
:
-
99 employees
↳
Medium business : 100
↳
Large
business
:
-
500 t
money , however ,
499
employees
employees
among the
if
3. Types of business
↳ sole
ownerships
proprietor
partnership
↳ corporation
↳ franchise
↳
co
operative
-
Goods vs Services
-
Good :
can
provides
business that
a
be
Eg Water bottle clothing
,
.
Service
act
:
done
exchange
in
Eg hair cut
.
Give
3
.
a
physical
for
,
shoes , groceries , etc
an
assistance
item that
of
(tangible)
skill
or
.
A
helpful
money
accountant, insurance , education , etc
,
examples
services
5
that sells
business
a
sells
touched
or
seen
or
businesses
can
.
provide goods and
.
↳
Gas
station
↳
Hair
salon
↳
Movie
Theatre
Channels of
distribution
↳ Direct
US
:
Indirect
retailer
their
products for sale
that has
business
:
sells
businesses
or
to
the
consumer
through a
instead of directly to
choose
wholesaler
customers
directly to
sell
① producer
②
S
wholesaler
producer
>
retailer
> consumer
>
retailer
> consumer
③ producer
>
consumer
The role of consumers
-
Producers : The
a
The
:
Any
location
consumers
provide
or
buying
selling
or
people
.
who
of
the mall ,
buy
who
and
engage in the
to
together
come
The people
The
:
goods
producers
where
consumers
eg
:
make
service
marketplace
Customers
that
businesses
goods
services
or
grocery store
the
goods
consume I use
or
,
retail outlet
services
goods
the
or
services
INTERDEPENDENCY
↳
When
one
producers
and
consumers
rely on
another
Producers
need
consumers
to
purchase
consumers
need
producers
to
manufacture and supply
goods
and
services
goods
Who
controls
the
businesses ?
↳
marketplace ? Consumers
consumers
b/c
the businesses
no
need
↳ however
,
each other
for
they
w/out
won 't be
consumers
'
or
demand
active and there's
business
are
both
interdependent on