BUSINESS CONCEPTS

UNIT I

BUSINESS ENVIRONMENT

Nature and purpose of business, classification of business activities: industry, commerce and trade,objective of business and essential of successful business, economic environment basic problems of scarcity and choice, allocation of resources ,opportunity cost, Business growth and measurement of size ,International Environment-balance of trade ,the trade gap ,and balance of payments, role and methods of trade protectionism, Business Ethics. UNIT II BUSINESS STRUCTURE AND ORGANIZATION

Historical view of business development forms of business organization: sole proprietorship, partnership, join stock companies, co-operative societies, public enterprise-Definition, Meaning, characteristics, Advantages and Disadvantages, Role of Government in business activity, organization charts. UNIT III ELEMENTS OF BUSINESS ACTIVITY

Purchasing-choosing suppliers, overview of stock control, production-scale of production, main features of job, mass, and batch production systems, Marketing-concept and role of marketing, marketing mix, channels of distribution, Finance-sources of finance, assessing business performance. UNIT IV HUMAN RESOURCES

Demographic trends and their impact on business concerns, unemployment-effects and types of unemployment, local trends in employment in various sectors, selection, recruitment, training of workers, motivation, basic knowledge of working age, contract of work, minimum wage, statutory hours of work, statutory benefits. UNIT V FOREIGN TRADE AND BANKING

Foreign trade-meaning, nature, importance, procedure of export and import, globalization, MNC, MNE, Introductory idea about commercial banks-functions and services, Insurancemeaning, types,principles, benefits.

ABUBAKKAR B.E.,M.E.,P.G.D.I.S., DEPARTMENT OF MECHANICAL ENGINEERING AL AMEEN ENGINEERING COLLEGE

BUSINESS CONCEPTS
S.No. 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 Page No. Nature and purpose of business 2 Classification of business activities: industry, commerce and trade 10 Objective of business and essential of successful business 16 Economic environment basic problems of scarcity and choice, allocation of 26 resources opportunity cost, business growth and measurement of size International environment 31 Balance of trade 35 The trade gap Balance of payments 35 Role and methods of trade protectionism 44 Business ethics. 53 Historical view of business development Forms of business organization 57 Sole proprietorship 58 Partnership 64 Join stock companies 73 Co-operative societies 83 Public enterprise-definition, meaning, characteristics, advantages and 92 disadvantages Role of government in business activity 107 Organization charts. 111 Purchasing 122 choosing suppliers 137 overview of stock control 151 production-scale of production 155 main features of job mass, and batch production systems 155 Marketing-concept and role of marketing 159 marketing mix 172 channels of distribution 186 Finance-sources of finance 196 assessing business performance 200 Demographic trends and their impact on business concerns 205 unemployment-effects and types of unemployment 208 local trends in employment in various sectors 213 selection, recruitment, training of workers, motivation A3 basic knowledge of working age 226 contract of work 227 minimum wage 239 statutory hours of work 242 Statutory benefits 245 Foreign trade-meaning, nature, importance 249 TOPICS

ABUBAKKAR B.E.,M.E.,P.G.D.I.S., DEPARTMENT OF MECHANICAL ENGINEERING AL AMEEN ENGINEERING COLLEGE

BUSINESS CONCEPTS
40 41 42 43 44 A1 A2 A3 procedure of export and import globalization MNC,MNE Introductory idea about commercial banks-functions and services Insurance-meaning, types, principles, benefits. Appendix 1:Work Contract Appendix 2:Labour and Employment Laws Appendix 3:Recruitment and selection 258 279 288 291 304 317 329 341

ABUBAKKAR B.E.,M.E.,P.G.D.I.S., DEPARTMENT OF MECHANICAL ENGINEERING AL AMEEN ENGINEERING COLLEGE