1.

1 Introduction to
Business
Management
 Business

Businesses exist to satisfy the needs and wants of people, organizations and
governments
Market
place

Market Customers
Business Functions

Human Resources
(Personnel)
Marketing
Finance
Production
(Operations)
Human Resources
Manpower Planning
Job analysis and Job
description
Determining wages and
salaries
Recruitment and Selection
Training and Development
Employee welfare and
motivation
Labor management
relations
Performance Appraisal
Marketing

Conducting Market Product Planning

Research
Distribution Planning
Price Planning
Consumer Analysis
Customer Relationship
Management
Identifying New Business
Opportunities
Finance

Advice on the financial and tax implications of

business decisions
Management of wages
Raising Finance
Preparation and monitoring of annual budgets and
forecasts
Production

Production and planning

Purchasing department
Stores department
Manufacture of products
Design and technical support department
 Business sectors

Primary Tertiary

Secondary
Quaternary
 Primary sector

Larger sector in underdeveloped &

developing countries
Less capital investment
Less use of machinery
Agriculture constitutes the major part
Secondary sector

Takes the output of the primary sector and

manufactures finished goods
Important sector to promote economic growth and
development
Important source of income in developing countries
Tertiary sector

Significant contribution to GDP in developed

countries
Provides key inputs to most other business
Transformation of goods through providing services
Quaternary Sector

The portion of an economy that is based on knowledge

applicable to some business activity that usually
involves the provision of services

Examples: Consultancy (offering advice to businesses)

and R&D (research, particularly in scientific fields)
Elements of Business Plan