Name: _____________________________________ Class: _______________
1.01 Introduction to Business Viewing Guide
Visit the TeachingKidsBusiness Introduction to Business website
http://www.teachingkidsbusiness.com/business-basics-intro.htm and
answer the questions below (that are asked on the website).
1. Name some businesses from which you often purchase products and/or
services. Name some businesses that you know about through parents'
jobs, neighbors, relatives and friends' parents etc.
2. What kind of products do these businesses sell and what kind of
services do they provide? What is the difference between a product (good)
and a service? Example: a toy is a product (good) while a haircut is a
service.
3. Why do you buy goods and services from a particular business? Do you
look at choices of businesses that sell these goods and services? How do
you make your decision? Which of the businesses do you prefer and why?
4. Do you think you could work in any of these businesses and why?
5. How can these businesses do a better job of what they are offering?
Name: _____________________________________ Class: _______________
1.01 Introduction to Business Viewing Guide—Page 2
Name a business with which you are familiar.
_____________________________________
1. What is the purpose of the business?
2. Does the business provide goods or services? Name the steps you think
a business takes to create the product or service.
3. What is important to this business?
Go to the website www.TeachingKidsBusiness.com. What is the
purpose of the business?
Does www.TeachingKidsBusiness.com offer a product or a service?
Is www.TeachingKidsBusiness.com a for-profit or a not-for-profit
business?
Name: _____________________________________ Class: _______________
1.01 Introduction to Business Viewing Guide—Key
Visit the TeachingKidsBusiness Introduction to Business website
http://www.teachingkidsbusiness.com/business-basics-intro.htm and
answer the questions below (that are asked on the website).
1. Name some businesses from which you often purchase products and/or
services. Name some businesses that you know about through parents'
jobs, neighbors, relatives and friends' parents etc.
Answers will vary.
2. What kind of products do these businesses sell and what kind of
services
do they provide? What is the difference between a product (good) and a
service? Example: a toy is a product (good) while a haircut is a service.
Answers will vary.
3. Why do you buy goods and services from a particular business? Do you
look at choices of businesses that sell these goods and services? How do
you make your decision? Which of the businesses do you prefer and why?
Answers will vary.
4. Do you think you could work in any of these businesses and why?
Answers will vary.
5. How can these businesses do a better job of what they are offering?
Answers will vary.
Name: _____________________________________ Class: _______________
1.01 Introduction to Business Viewing Guide—Page 2—KEY
Name a business with which you are familiar.
_ Answers will vary. _________________________
1. What is the purpose of the business?
Answers will vary
2. Does the business provide goods or services? Name the steps you think
a business takes to create the product or service.
Answers will vary.
3. What is important to this business?
Answers will vary.
Go to the website www.TeachingKidsBusiness.com. What is the
purpose of the business?
TeachingKidsBusiness.com provides a website with free online lessons
to teach students about business.
Does www.TeachingKidsBusiness.com offer a product or a service?
TeachingKidsBusiness.com is providing a service, by offering a website
with
free educational lessons to help students learn about businesses.
Is www.TeachingKidsBusiness.com a for-profit or a not-for-profit
business?
TeachingKidsBusiness.com is a not-for-profit business.
1.01 Purpose and Functions of Business
PowerPoint Notes
Purpose
of
Business
Motivation to start a business
6208 – Exploring Business Technologies 2008 Page 13
Accounting
Management
Marketing—4 Ps
Operations
Human Resources
Information Technology
Functions of Business Examples/Explanation
Name: _____________________________________ Class: _______________
6208 – Exploring Business Technologies 2008 Page 14
1.01 Key Terms—Blank
Term Definition
Purposes of Business
Profit
Profit motive
Competition
Needs
Wants
Consumer
Goods
Services
Types of Businesses List examples of each type of business.
Sole proprietorship
Partnership
Franchise
Name: _____________________________________ Class: _______________
6208 – Exploring Business Technologies 2008 Page 15
Term Definition
Non-profit organization
Corporation
Multinational corporation
Functions of Business
Accounting
Management
Marketing
Information Technology
Operations
Human Resources
6208 – Exploring Business Technologies 2008 Page 16
1.01 Key Terms—Defined
Term Definition
Purposes of Business
Profit Money that remains after a business has paid for
the expenses of running the business.
Income > Expenses
Profit motive A person's incentive to work to gain something for
himself or herself (that is to make money).
Competition Contest between businesses to win customers'
business and loyalty
Needs Items necessary for existence, such as clothing,
food, and shelter.
Wants Items that would be nice to have, but are not
necessary.
Consumer A person who uses goods or services. Many
times the consumer is also the customer
(purchaser).
Goods Items businesses sell that can be physically
weighed or measured, such as iPods and CDs.
Services Tasks that businesses perform or provide for
customers, such as hair cuts and car washes.
Types of Businesses
Sole proprietorship A business owned by only one person.
Partnership A business owned by two or more people.
Franchise A contract between a parent company and a
franchisee to use the name and sell the goods or
services of the parent company, such as KFC.
Non-profit organization A business whose goal is to provide a service
rather than to make a profit, such as the
American Red Cross.
Corporation A business considered separate from the owners
of the business by law. The owners are the
stockholders.
Multinational corporation A company that does business and has business
facilities in many countries, such as Coca Cola.
6208