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Title: IB Business Management 1.1 Businesses
Description: Notes for IB Business Management 1.1 Businesses following the syllabus for the 2018 Exam year.
Description: Notes for IB Business Management 1.1 Businesses following the syllabus for the 2018 Exam year.
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1
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g
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Labour-intensive production: use of mainly labor to produce goods, e
...
a tailor
Goods and Services
Good: Tangible product that we can physically take home
...
Good
iPad
Car
Items extracted from the
environment
Service
Hairdresser
Karate Class
Medical examination
Education
Delivery of a package
What are the main functions in a business?
- Human resources
- Finance and accounts
- Marketing
- Operations
Sectors
Primary
Secondary
Tertiary
Quaternary
What is an entrepreneur?
Entrepreneur – an individual who demonstrates enterprise and initiative in
order to make a profit
...
Market reading – observing customers and competitors and then making small
changes to existing products
Need seeking – communicating with current and potential customers to
determine their needs
Technology driving – investing in research and development and following
opportunities offered by technological capabilities
...
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4
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Title: IB Business Management 1.1 Businesses
Description: Notes for IB Business Management 1.1 Businesses following the syllabus for the 2018 Exam year.
Description: Notes for IB Business Management 1.1 Businesses following the syllabus for the 2018 Exam year.