Financial Management

Financial Management

• Definition: Financial Management involves planning, organizing, and controlling financial resources to achieve business objectives.
• Key concepts:
  • Financial planning: forecasting financial needs and creating strategies to meet them.
  • Financial control: monitoring and correcting financial performance.
  • Capital budgeting: deciding on investments and allocating resources.
  • Risk management: identifying and mitigating financial risks.
• Financial statements:
  • Balance sheet: snapshot of company's financial position at a specific point in time.
  • Income statement: revenue and expenses over a specific period.
  • Cash flow statement: inflows and outflows of cash over a specific period.

International Business

• Definition: International Business involves conducting business operations across national borders.
• Types of international business:
  • Importing: buying goods or services from another country.
  • Exporting: selling goods or services to another country.
  • Licensing: granting permission to use intellectual property in another country.
  • Foreign direct investment: investing in a business in another country.
• International trade theories:
  • Absolute advantage: country produces goods more efficiently.
  • Comparative advantage: country produces goods at a lower opportunity cost.
• International business environments:
  • Cultural environment: cultural differences affecting business.
  • Economic environment: economic systems and policies affecting business.
  • Political environment: government policies and regulations affecting business.

Marketing Management

• Definition: Marketing Management involves planning, organizing, and controlling marketing activities to achieve business objectives.
• Marketing mix:
  • Product: goods or services offered to customers.
  • Price: amount charged for the product.
  • Place: distribution and logistics of the product.
  • Promotion: communication and advertising strategies.
• Marketing segmentation:
  • Demographic segmentation: dividing market based on demographic characteristics.
  • Psychographic segmentation: dividing market based on lifestyle and personality traits.
  • Geographic segmentation: dividing market based on geographic location.
• Marketing research:
  • Qualitative research: gathering non-numerical data through surveys and focus groups.
  • Quantitative research: gathering numerical data through experiments and statistical analysis.

Business Role

• Definition: Business Role refers to the function or position of a business in society.
• Types of business roles:
  • Economic role: creating goods and services, generating employment, and contributing to GDP.
  • Social role: providing goods and services that meet social needs and improve quality of life.
  • Environmental role: minimizing negative environmental impacts and promoting sustainability.
• Business ethics:
  • Corporate social responsibility: businesses' responsibility to society and the environment.
  • Stakeholder theory: businesses' responsibility to various stakeholders, including shareholders, customers, and employees.
  • Ethical decision-making: making decisions that balance business objectives with social and environmental responsibilities.

Financial Management

• Financial Management involves planning, organizing, and controlling financial resources to achieve business objectives
• It involves financial planning, financial control, capital budgeting, and risk management
• Financial planning involves forecasting financial needs and creating strategies to meet them
• Financial control involves monitoring and correcting financial performance
• Capital budgeting involves deciding on investments and allocating resources
• Risk management involves identifying and mitigating financial risks
• Financial statements include balance sheet, income statement, and cash flow statement
• Balance sheet provides a snapshot of a company's financial position at a specific point in time
• Income statement outlines revenue and expenses over a specific period
• Cash flow statement outlines inflows and outflows of cash over a specific period

International Business

• International Business involves conducting business operations across national borders
• Types of international business include importing, exporting, licensing, and foreign direct investment
• Importing involves buying goods or services from another country
• Exporting involves selling goods or services to another country
• Licensing involves granting permission to use intellectual property in another country
• Foreign direct investment involves investing in a business in another country
• International trade theories include absolute advantage and comparative advantage
• Absolute advantage is when a country produces goods more efficiently
• Comparative advantage is when a country produces goods at a lower opportunity cost
• International business environments include cultural, economic, and political environments
• Cultural environment involves cultural differences affecting business
• Economic environment involves economic systems and policies affecting business
• Political environment involves government policies and regulations affecting business

Marketing Management

• Marketing Management involves planning, organizing, and controlling marketing activities to achieve business objectives
• Marketing mix includes product, price, place, and promotion
• Product involves goods or services offered to customers
• Price involves the amount charged for the product
• Place involves distribution and logistics of the product
• Promotion involves communication and advertising strategies
• Marketing segmentation involves dividing the market based on demographic, psychographic, and geographic characteristics
• Demographic segmentation involves dividing the market based on demographic characteristics
• Psychographic segmentation involves dividing the market based on lifestyle and personality traits
• Geographic segmentation involves dividing the market based on geographic location
• Marketing research involves qualitative and quantitative research
• Qualitative research involves gathering non-numerical data through surveys and focus groups
• Quantitative research involves gathering numerical data through experiments and statistical analysis

Business Role

• Business Role refers to the function or position of a business in society
• Types of business roles include economic, social, and environmental roles
• Economic role involves creating goods and services, generating employment, and contributing to GDP
• Social role involves providing goods and services that meet social needs and improve quality of life
• Environmental role involves minimizing negative environmental impacts and promoting sustainability
• Business ethics involves corporate social responsibility, stakeholder theory, and ethical decision-making
• Corporate social responsibility involves businesses' responsibility to society and the environment
• Stakeholder theory involves businesses' responsibility to various stakeholders, including shareholders, customers, and employees
• Ethical decision-making involves making decisions that balance business objectives with social and environmental responsibilities