Business AdministrationCBUS1103

PRASANAN KANNANMBA(USA), B.Sc (USA), CITY&GUILDS (418)

Mobile no. 0167054340Prasanan.kannan@live.com.au

IntroductionConcept of Business

The Business Concept is one of the essential in a business. Business Concept may also be referred to as a business plan, business model, or vision. The Business Concept includes a definition of the target audiences, the product features and the unique business value it will provide to all constituents. The Business Concept also defines strategies for successfully implementing the product within the marketplace. This includes pricing, revenue, and distribution models.

What is Business activity?Any activity that is engaged in for the primary purpose

of making a profit. Business activities can include things like operations, marketing, production and administration. 

Any actions undertaken by individuals or companies, such as buying, selling, marketing, or investing, for the purpose of generating profits or developing economic opportunities. Shareholders should be aware of patterns business activities undertaken by companies in whose stock they have invested, in order to be sure that the company remains a sound investment.

ObjectivesWhy you need it?

When going into business, it is important to have clear business objectives defined so that the business knows where it is going. It is essential to have these goals written out so that the company can work together towards these end points as a unit and not flail about without direction. It makes sense for a business owner to sit down and craft a statement of business objectives for the company to ensure that the whole business is on the same page. Here is an overview of business objectives.

ObjectivesWhat are the …?

Business objectives are a way for an organization to define its goals and direction. A company uses a combined strategy at every level of its operation to achieve its objective. It determines how a company will allocate its resources and what strengths, weaknesses and opportunities it may have. A business objective is usually not altered once implemented, unless changes in circumstances arise; setting a clear course for the organization it key to its success.

Goals?

An organization VisionMission statement

McDonalds - "To provide the fast food customer food prepared in the same high-quality manner world-wide that is tasty, reasonably-priced & delivered consistently in a low-key décor and friendly atmosphere."[citation needed]

Objectives