# 2010 University of South Africa All rights reserved Printed and published by the University of South Africa Muckleneuk‚ Pretoria MNB1501/1/2011±2013 98629158 3B2 MNB Style Contents INTRODUCTION iv TOPIC 1: INTRODUCTION TO BUSINESS MANAGEMENT 1 STUDY UNIT 1: THE BUSINESS WORLD AND BUSINESS MANAGEMENT 2 STUDY UNIT 2: ENTREPRENEURSHIP 14 STUDY UNIT 3: ESTABLISHING A BUSINESS 30 STUDY UNIT 4: THE BUSINESS ENVIRONMENT 43 STUDY UNIT 5:
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What type of Economy does China have? Explain some of the benefits of this system to the country and some of the drawbacks. 1. Since the People’s Republic of China was formed in 1949 until 1978‚ China had a planned socialist economy like the former Soviet Union. The government owned all factories and farms. Planning committees controlled all production. Market forces were often ignored when they conflicted with plans of the state. In 1978 China introduced farm reforms. Farmers could grow
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the country at that point. 2.2 Public and Private Sectors of Industry 3 different types of economic system which are used by countries to manage their resources as efficiently as possible: 1. Free market economy. 2. Command or planned economy. 3. Mixed economy. Free market economy: In this economy‚ all resources are owned privately. That means‚ there is no government control
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Special Working Paper Series Globalization and Politics Suzanne Berger MIT IPC Globalization Working Paper 00-005 P1: FMF April 18‚ 2000 15:37 Annual Reviews AR097-03 Annu. Rev. Polit. Sci. 2000. 3:43–62 Copyright c 2000 by Annual Reviews. All rights reserved GLOBALIZATION AND POLITICS Suzanne Berger Department of Political Science‚ Massachusetts Institute of Technology‚ Cambridge‚ Massachusetts 02139; e-mail: szberger@mit.edu ? Key Words internationalization
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The Road to Serfdom with The Intellectuals and Socialism FRIEDRICH A. HAYEK the condensed version of the road to serfdom b y f . a . h ay e k a s i t a p p e a r e d i n t h e a p r i l 1 9 4 5 e d i t i o n o f r e a d e r’ s d i g e st The Institute of Economic Affairs PREFACE TO THE READER’S DIGEST CONDENSED VERSION OF THE ROAD TO SERFDOM SUMMARY (Jacket notes written by Hayek for the first edition) ‘In The Road to Serfdom’‚ writes Henry Hazlitt in the New York Times‚ ‘Friedrich
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a soda the buyer is thirsty and enjoys soda so he or she will benefit from the soda‚ and the vender will benefit from the money for the soda so the trade has been made. These interactions are affected by the economy system present. In a centrally planned economy central authorities make decisions for what would be the best use of their goods and resources. The state can set prices of goods and determine how much to produce. Therefore‚ decisions are not voluntary. Decisions are voluntary in a market
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for many years‚ some of them were old friends of family‚ and also friends he knew during buying trips to Turkey. These loyal customers could bring him a lot of orders. Secondly‚ Moda Textile provided customer high quality products. They also had planned to make fashionable Italian imported cashmere coats. Different with other sewing workshops‚ Moda Textile want to develop their market not only in Kyrgyzstan but also in USA‚ Russia‚ and Europe. With a bigger target market‚ they will have more opportunities
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Business Environment Business environment consists of all the internal and external forces that influence the operating situation of a company. Business environment has a dynamic and complex nature and it impacts greatly the survival and growth of a company. External factor consists of political factors Political factors (Taxation Policy‚ Unemployment Policy etc.)‚ Economical factors (Inflation rate‚ Recession or Boom etc.)‚ Socio-cultural (language‚ values‚ religion‚ beliefs etc. )‚ Technological
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UNIT 1 – FUNDAMENTAL PROBLEMS OF ECONOMIC SYSTEMS 1.1 INTRODUCTION In this unit you will get acquainted with the fundamental problems of the economy. The understanding of the concept will help you bring closer to the basic idea of the economy’s problems as well as remedies of such problems. In this unit you will get detailed description of what is an economic system‚ problems of economic system‚ factors of production‚ concept of production possibility curve‚ and the fundamental of allocation of resources
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Task 1A. Identify the mission‚ values and key objectives of an organization of your choice and assess the influence of stakeholders The Body Shop is a public limited company they mainly specialize in beauty products‚ however they are very much different compared to regular make up brands such as DIOR‚ SHU UMERA and so on‚ they are different in a way that they use natural products and they are against animal cruelty. They use plants resources wisely. The body shop is different because of their values
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