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An Introduction to Business Studies

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An Introduction to Business Studies
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An Introduction to Business Studies

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Session 1 WHAT IS A BUSINESS?

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What is a Business?
Business is such an integral part of our lives that we do not normally stop to think about it. It is hard to define for the very reason that there is so much of it around us, in all sorts of different shapes and sizes

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What a Business Does?
Businesses come in all shapes and sizes, but have three factors in common: 1. people 2. objectives 3. Structure It is the interaction of people to achieve objectives that forms the basis of a business and some form of structure is needed.
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Types of Business

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Morgan’s Metaphors
1. 2. 3. 4. 5. 6. 7. 8. Machine Organism Brain Culture Political System Psychic Prison Flux and Transformation Vehicle for Domination

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Session 2

THE EXTERNAL ENVIRONMENT

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The STEEP Model
The external environments can be defined and analyzed using the STEEP model which stands for: v v v v v

Sociological Technological Economic Environmental Political
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Sociological Factors
It includes: v Demographic changes in the age & structure of populations v Patterns of work v Gender roles v Patterns of consumption v Ways in which the culture of a population or country and develops.
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Technological Factors
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