Business Concepts PDF
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Summary
This document discusses various business concepts, including different business structures (sole proprietorship, partnership, corporation, LLC, franchise), production processes, and human resource management. It outlines the advantages and disadvantages of each structure, and the processes involved in production and management. The document covers topics from production function to overall business management.
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Sole proprietorship - single owner - - - - - - - - - - - - - - - Partnership - pair of owners - - - - - - - - - - - - - Corporation - multiple owners with shared ownership - - - - - - - - - - - - - - - -...
Sole proprietorship - single owner - - - - - - - - - - - - - - - Partnership - pair of owners - - - - - - - - - - - - - Corporation - multiple owners with shared ownership - - - - - - - - - - - - - - - - - - - - - - - LLC (limited liability company) - - - - Franchise - - Notary public - a deed to get general transactions lifted How to get a notary public - find a notary public and get your document authorized Production function - Factors of production - - - - - Factors of production - - - - - - Accounting and business essentials - - - - - - - - Journal question: Which function of business are you most interested in and why? I am most interested in human resource management, because I believe that without proper social management and physical management or overview of work, work will never get done. Management involves planning, organizing and leadership and without those things a business most likely would not run very smoothly. That, combined with the social aspect of management which is mentally and physically commanding the best out of employees so that the work towards the goods or services provided is always the best so the customer never gets disappointed in the business, and to control the employees, there must be proper management of things like social issues or feelings, as well as physical issues like feeling tired or sick, etc. Human resource management is the most important because without the proper management of your employees, the business would be poor. Producing accounting management human resources Stages of production\\ - - - - - - - - Production process - - - - - Production systems: Process which is followed to make products, need to choose production systems wisely Criteria when choosing a production system: - - - UNIT TWO The three production systems: - - Batch Production - - - - - Job production: Variety of products is high or product standardisation is low or the volumes are low, products are worked on by skilled people or person, each job is unique and require different ideas and techniques Advantages: - - - - - - Disadvantages: - - - - - -
