business management

BUSINESS
MANAGEMENT

INTRODUCTION

TO BUSINESS AND

MANAGEMENT

TYPES OF KEY

BUSINESS  STAKEHOLDERS

INDUSTRIES IN BUSINESS

SAMANTHA LIGENG KATO

"ALWAYS DELIVER
MORE THAN

EXPECTED" -LARRY

BUSINESS MANAGEMENT
AND
MANAGEMENT Management defined as all the
activities and tasks undertaken
BUSINESS for archiving goals by continuous
activities like Planning,
A business organization is an Organizing, Leading and
entity aimed at carrying on Controlling.
commercial enterprise by
providing goods or services, to WHAT IS BUSINESS
meet needs of the customers
RECORD??

A document that is used
to store information
from business operations such as
meetings and contracts, as well
as transactions such
as purchases, bills of lading
and invoices. Business records
can be stored as reference
material and reviewed later.

18 BUSINESS   |   DECEMBER 2019

TYPES OF
BUSINESS
INDUSTRIES

01 PRIMARY INDUSTRY

Extract raw materials which are
natural products from the land or
sea e.g. oil, iron ore, timber, fish.
Mining, and farming

02 SECONDARY
INDUSTRIES

Involve the manufacture of raw
materials, into another product by
manual labour or machines such as
assembling cars.

04 QUATERNARY 03 TERTIARY
INDUSTRIES INDUSTRIES

Involve the use of high tech Neither produce a raw material nor
industries.People who work for these make a product.Instead they
companies are often highly qualified within provide services to other people
their field of work.Research and and industries.Tertiary industries
development companies are the most can include doctors, dentists, refuse
common types of businesses in this sector. collection and banks.

key OWNER
stakeholders
in business Owners are the most
important stakeholders as they
A STAKEHOLDER IS ANY PERSON, control the business. If they are
ORGANIZATION, SOCIAL GROUP, OR unhappy than they can sack its
SOCIETY AT LARGE THAT HAS A directors or managers, or even sell
STAKE IN THE BUSINESSWHICH the business to someone else.
CAN EITHER BE INTERNAL OR They will usually keep records of
EXTERNAL TO THE BUSINESS the business such as legal entity,
insurance, permits and licenses.
A stakeholder has an interest, or “stake,” in the
success or failure of a business or its projects. CREDITORS
If a business folded tomorrow, these people
would be affected in some way.  A creditor is someone that a
business owes money to. If a
business has purchased resources
from a company and agreed to pay
later, the resource company is the
businesses creditor and they keep
records on debt of the business
owe.

EMPLOYERS

Employers are the people who are
hired to run the business such as
secertaries, accountant and
managers who is responsible to
keep records such as attendance,
pension funds,and transaction
history.

SUPPLIERS

Suppliers provide the raw
materials or components that a
company uses to create its
products and keep records on
purchasing. In some
cases, suppliers provide finished
products.

CUSTOMERS

Customers are important as they
generate profit to the business by
purchasing and using their product
and services.