Unit 1
Introduction to Business Management
Select a topic to view class notes, key terms, worked examples and exercises.
1.1
What is a Business?
The nature of business, economic sectors, entrepreneurship, and challenges of starting up.
1.2
Types of Business Entities
Public vs private sector, sole traders, partnerships, companies, social enterprises, and NGOs.
1.3
Business Objectives
Vision and mission statements, business objectives, strategic vs tactical objectives, and CSR.
1.4
Stakeholders
Internal and external stakeholders, stakeholder interests, and sources of conflict.
1.5
Growth and Evolution
Internal vs external growth, economies of scale, and external growth methods (M&As, franchising…).
1.6
Multinational Companies
The impact of MNCs on host countries — benefits and drawbacks.