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5.1 Describe types of business activities

Unit 5

Business Activities

What type of career are you planning to pursue in the future?

No matter where you wind up working, that business (and every other business) must accomplish certain things:

Hiring people
Making/Providing products
Keeping track of expenses

These primary activities keep businesses in operation
Without them, no one would have a job!

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Do you know regardless of your career you have a chance of being a millionaire. �What % chance do you have with a high school degree?

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4.2% 1 in 23 from HS

13.5% 1 in 6 from College

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Follow Up Questions

What does the chart tell you about the relationship between education and earnings?

Why do you think that someone with a college degree is 4X more likely than a high school graduate to be a millionaire?

What is your plan to get there?

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What Is a Business?

An organized effort to produce and/or distribute goods and services

EC:071 Describe types of business activities

Explain what you think all businesses need to accomplish

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Business Activities

Financial analysis
Human resources management
Information management

EC:071 Describe types of business activities

Marketing
Operations
Strategic management

Business activities

Financial analysis is the process of planning, maintaining, monitoring, controlling, and reporting the use of financial resources.

Human resources management is the process of planning, staffing, leading, and organizing employees.

Information management is the process of accessing, processing, maintaining, evaluating, and disseminating business knowledge, facts, or data.

Marketing is the process of creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.

Operations are the day-to-day activities required for continued business functioning. It includes production, quality control, purchasing, and inventory management.

Strategic management is the process of planning, controlling, and organizing an organization or department.

Discussion #2: Ask students to provide examples of jobs that would fall under each type of business activity.

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What types of jobs fall into these business activities?

Human Resources Management

Financial Analysis

Information Management

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What types of jobs fall into these business activities?

Operations

Marketing

Strategic Management

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The Importance of Business Activities

EC:071 Describe types of business activities

Integration of the primary business activities = reaching specific goals
Businesses adjust activities with changes.

Give an example of ways that business activities have changed in recent years.

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Unit 5.1 Activity

You will be divided into groups of seven students each.

Select a business that you would like to start.
Select one of the primary business activities: accounting, finance, marketing, human resources management, information management, operations, and management.
Research your selected specialty area using the Internet, newspapers, magazines, and interviews.

As a group develop and share a short presentation on the role and impact of these activities in its business.

Your group may use the Starting Up A Business Template