Why Do Business Exist Essay

887 Words2 Pages
bulb-icon

Recommended: Internal and external factors affecting business

Why Businesses Exist

A business gets started when somebody decide that they can earn a profit by making a good or providing a service and selling it to people who are willing to pay for it.

All Businesses have the same Main Objective

An objective is anything that the business wants to achieve. The most important objective is to make a profit in order to survive. If a business does not make a profit it will go bankrupt and have to closedown. The Public Sector

Owned by the Government: Army, Police, Schools and Hospitals. These are benefits for everyone.

The Private Sector

Owned by Private Individuals. Of Benefit to the people who own them.

Key Terms

Entrepreneurship: means being prepared to take risks and having …show more content…

Capital
Only raise capital from own resources such as loans.
Selling shares can raise capital. The shareholders are known as equity
Flexibility
Free to change direction if necessary.
Decisions taken by board of directors and shareholders.

The Basic Economic Problem

Resources are finite, desires are infinite, and thus we must make choices. The real value of what you buy is the sacrifice of what you don’t buy.

Demand and Supply

Key Terms

The Supply Curve: gives the relationship between price and quantity supplied when shown on a graph. It is usually upward sloping to the right because higher prices provide a greater insensitive to produce.

The Equilibrium price: is the price at which the amount buyers demand and the amount seller’s supply is exactly the same.

The Market Clears: when there are no unsold stocks and no customer unable to obtain the product.

Key Terms

Value: How much something is worth.

Added Value: Is the difference between the price, which is charged, and the total cost of material inputs of the product.

Value Chains: Are value adding activities that form a sequence. Each activity can be subdivided into many more value chains that will

Show More
Related

  • Marine Biologist Goals

    622 Words  | 2 Pages

    A top end marine biologist can earn anything around sixty dollars an hour. Although a marine biologist that may be just starting out ears only about nineteen dollars an hour. Even though that is not as much as a grade A marine biologist make it surely better than nothing. With a job like this it would be easy to support yourself and your family.

    Read More

  • Career: Computer Hardware Engineer

    947 Words  | 2 Pages

    In conclusion computer hardware engineers primary focus in their field is the design, creation, installation, and maintaining of complex computers and industrial scale machines in the modern world. The education required is normally a bachelor’s degree for entry level jobs in the career, and must be in a valid major. They usually work 40 hour work weeks and make roughly and average of 50 dollars in our or 100,000 dollars a year. The career future for computer hardware engineers looks bright as the demand for new electronics is always on a constant rise, although this does require constant retraining in order to keep up with modern technology. Not to be confused with software engineering the main duty of a computer hardware engineer is the more physical side of technology not internal programs.

    Read More

  • Connection Between Computers

    530 Words  | 2 Pages

    Broadband modem connects a computers to the Internet and also to the other computers on network. Fiber optic cable or telephone line are typically used to send and received large amounts of data because it has a wide ...

    Read More

  • Contribution to the Evolution of Distance Education

    1102 Words  | 3 Pages

    Distance education as we know it materialized in the 1960s, and although it predominantly consisted as a self-directed learning method (correspondence courses, with textbooks and previously prepared lessons), it presented opportunities for the working populace to receive an education; however, it was also the foundation of an emerging issue which accompanied distance education and continued to adversely develop as time progressed, yet modern online learning has been enhanced by the theories of illustrious scholars. Theories of Transactional distance and Andragogy have influenced the technological expansion of distance education into the 21st century's streamlined, learner-centered environment.

    Read More

  • Marine Biology Essay

    887 Words  | 2 Pages

    At the most fundamental level, they need to study the behaviors, genetics, diseases, and the life cycles for the life forms that dwell in marine environments. Marine biologists are considered experts in aquatics and more specifically, experts on the plants and animals that live in the ocean. They may conduct experiments as scientists in a laboratory or in the field, for academic purposes or for research that could be beneficially to the human and animal community. Marine biologists also could work on rescue missions to help support animals in the sea who are in trouble or

    Read More

  • Hardware Engineer

    847 Words  | 2 Pages

    Most engineering students begin their career education with a bachelor’s degree in engineering. This four-year experience schools students in math, physical sciences (for example, physics, and chemistry), and engineering specialties (for example, hardware engineer, environmental engineer, structural engineer). To give experience, many colleges offer hands-on laboratory time. These classes teach math, hardware makeup and architecture, and programming languages, among other things. Every state requires hardware engineers to have licenses. To get this license, one must have a degree from an engineering program approved by the Accreditation Board for Engineering and Technology; for example, the Electrical and Computer Engineering bachelor’s degree program at the New York Institute of Technology, containing ?, among many others. Graduates of such a course also need four years of relevant job experience, and then to pass a State exam. Even after the course, work, and test, education is not over. Engineers must stay on top of new technological developments, so regularly attend seminars to learn what’s new. An engineer’s education is complex and continuous.

    Read More

  • Education in the 21st Century: The Problems and Prospects of Distance Learning

    2377 Words  | 5 Pages

    This paper attempts to identify some of the challenges impeding the effective implementation of distance learning. It explain the characteristics of distance learning and how emerging technology can be effectively employ to bring about the desired learning outcomes among learners. The study highlight the Pros and Cons of distance learning and suggestions for maximizing it advantages was discussed.

    Read More

  • Marine Biology Career Essay

    765 Words  | 2 Pages

    To become a successful marine biologist, there are certain job tasks, special skills, and talents, as well as a higher education that I would need to study and develop. To succeed in my work, I need to love working with animals and

    Read More

  • Elections in India: Rahul Gandhi vs. Narendra Modi

    868 Words  | 2 Pages

    The general elections in India are less than a month away and this time more than 800 million people a number larger than Europe’s population are set to cast their vote to elect the government which is going to rule India for the coming four years. Although there is such large scale of voting it ultimately comes down to two people. The future of a country with a population of 1.2 billion people is going to be placed in the hands of these two people. These people who come from two very different background and and have two very different ideologies will battle it out to become the 22nd prime minster of the country .It is a battle between Rahul Gandhi of the Indian national congress and Narendra Modi of the Bharatiya Janata Party or so called BJP and these two people are two very different people and the most important differences between them are their backgrounds, their ideologies and finally their past achievements or disappointments.

    Read More

  • Marine Science Personal Statement

    518 Words  | 2 Pages

    I am a graduate of the University of Hawaiʻi at Hilo with a Bachelor’s of Science in Marine Science. I am proud to say that I had been recognized for my senior paper above all my classmates, as I received the Outstanding Thesis in Marine Science Award. During my undergraduate career, I have gained knowledge and experience through classwork, laboratories, and the field. Next, I wish to enter Colorado State University’s online masters program in Fisheries, Wildlife, and Conservation Biology.

    Read More

  • The Moral Obligation of Businesses

    1327 Words  | 3 Pages

    Individuals are not motivated to do as they wish to, within narrow boundaries of the community, which illustrates common collaboration. By stages, cooperation will improve into activities that rise towards sustaining that niche society’s wellbeing. People who care about others who are not able to take care of them self like, poor, old, weak, sick, as also know as moral imperatives (Brenan, pg 114). Even though, helping isn’t partial to the above-mentioned groups. Basically thinking regarding citizens, land, atmosphere and nature is known as cultivation. Businesses and Government are also involved in civilization. It is very difficult to search l societies that are not sufficiently stable to live. At some stage big Multi-National Companies need to encourage these societies to be happy, which will reflect and grow the profits and revenue for them and maintain its stability and sustainability. Globally CSR is defined as a bond between government, corporations & local society. Far away, it illustrates a connection between the firm and the local society through which it exits and function (Crowther et. Al, pg 38). CSR is good for any business on various occasions. By performing CSR the corporation shows that they think about the environment and people more than it productivity. Corporate social responsibility does not only build trust it also demonstrate the glimpse of generosity and help maintaining a status to be a good company in front of the society (Business Spectator, 2011). This report will describe about CSR and moral guidelines and how the two aspects are used to develop sustainability.

    Read More

  • Distance Learning

    1642 Words  | 4 Pages

    Sherry, L. (1996). Issues in distance learning. International Journal of Educational Telecommunications, 1(4), pp. 337-365.

    Read More

  • Importance Of Distance Education

    3535 Words  | 8 Pages

    This section of the paper will discuss the advantages of distance education. One of the biggest advantages to completing a distance education course is the flexibility that it offers. 71% of students believe that virtual learning provides increased flexibility to take classes (CDW-G, 2011). With distance education, students can complete their education anywhere that has a computer and internet connection. This is especially important for learners that live in rural areas that may not have a university close-by. Another advantage to distance education is the convenience that it offers. Distance education allows the learner to participate in learning activities when the learner chooses. This is especially vital for learners that work a full time job or have a family. In addition to the flexibility and convenience that distance education offers, it is can also be cost-effective, depending on the university and the course taken. For example, at Georgia Perimeter College distance learners pay about 70 percent of what traditional students pay in tuition and fees per credit hour if they qualify for in-state tuition (Thompson, 2014). Online courses that allow the individual to complete their coursework from home help also cut down on various costs, such as commuting or hiring a babysitter. Distance education can also help to decrease the costs

    Read More

  • Distance Education

    1037 Words  | 3 Pages

    Distance learning is a form of education in which the instructor and student are separated. As advances in technology rapidly progress, the interest in distance education has grown as well and has thus become more common. Technology has given this kind of learning numerous possibilities. There are various forms of distance education used alone or in combination. These technologies provide many opportunities for education, but not with out a few restrictions.

    Read More

  • Narendra Modi: India's Made, Not Born, Leader

    747 Words  | 2 Pages

    Narendra Modi has become a household name after the Lok Sabha Elections, which were enough to prove the faith the citizens of the largest democracy of the world happen to have put in this man. Narendra Modi posses a certain personal appeal which India definitely approves of in their leader after being led by an almost invisible Prime Minister for years. With almost 65% of the enfranchised citizens below 35 years of age, India was desperate for a strong leader upon whose shoulders the nation could build development and social stability. Here are four reasons why the youth thinks Narendra Modi is a people’s person and a man of non-protocol methods :

    Read More

More about Why Do Business Exist Essay

Open Document