The Business in General Time Frame 1 st

The Business in General Time Frame: 1 st Week - 3 hours Colegio de San Juan de Letran Management / Human Resource Area Module 1

Colegio de San Juan de Letran 1 Management / Human Resource Area Business in General

Module Outline: This module will discuss the following topics: 1. Definition of business and development of business culture 2. Relationship between business and economy 3. Elements of a business system 4. Dimensions of a business 5. The profit and service motives 6. Kinds and legal forms of business ownership 7. Major components of business Colegio de San Juan de Letran 1 Management / Human Resource Area Business in General

Objectives: At the end of this lesson students are expected to: 1. Understand the development of business organization and its culture 2. Be aware of the relationship between the business and the economy 3. Be familiar with the elements of business 4. Understand the different legal forms of business and its components Colegio de San Juan de Letran 1 Management / Human Resource Area Business in General

Food for the BRAIN “Everything about business comes down to PEOPLE. Where in business can we escape the impact of human care, human creativity, human commitment, human frustration, and human despair? There is no reason for anything in business to exist if it does not serve the needs of people. ” 1 Bruce Cryer, Re-Engineering the Human System Colegio de San Juan de Letran Management / Human Resource Area Business in General

Introduction Anyone of us might be thinking of establishing his or her own business in the future. You might be dreaming of building your empire in the business world, or just a small venture in your locality. Before going deeper into that, let us first discuss the business in general, how it was developed and what is its culture. For management students, it is very important to have a basic knowledge about business, its types and forms, etc. Colegio de San Juan de Letran 1 Management / Human Resource Area Business in General

Lesson Contents 4 What is a business? A commercial activity engaged in as a means of livelihood or profit, or an entity which engages in such activities. Colegio de San Juan de Letran 1 Management / Human Resource Area Business in General

Lesson Contents 4 The business culture 1 Business is the evolutionary growth of various activities developing from a simple to complex system. Its primary objective is to satisfy the consumers’ basic and secondary needs. Profit is the driving force of business but over the years, it evolved and changed to aiming the delivery of social responsibility to the society. Business, in a legal sense, is involved in the production of goods and services, aimed to meet the economic needs of consumers, of course, with an objective of eventually earning profit. Colegio de San Juan de Letran Management / Human Resource Area Business in General

Lesson Contents 1 The elements of a business system Colegio de San Juan de Letran Management / Human Resource Area Business in General

Lesson Contents 4 Relationship between Business and the Economy 1 Man created business to support his daily needs. As the business grew, man started to hire people in order to meet the demands of the public (clients). An act that provides jobs for people. Then, people earns money and part of that earning goes back to the businessman because people buy products from business owner for personal consumption. The money that they (the business man and the workers) created has circulated in the market, and it helps our economy. Colegio de San Juan de Letran Management / Human Resource Area Business in General

Lesson Contents 4 The Four Dimensions of Business • The Firm • The Production Chain • The Sector • The Government Colegio de San Juan de Letran 1 Management / Human Resource Area Business in General

Lesson Contents 4 The Profit and Service Motive Profit must be made, so long as the means do not violate the basic conviction of the society and the other stakeholders in the business. Colegio de San Juan de Letran 1 Management / Human Resource Area Business in General

Business in General Lesson Contents 4 Kinds and legal forms of business ownership 1 1. Sole proprietorship 2. Partnership a. General partnership b. Limited partnership 3. Corporation Colegio de San Juan de Letran Management / Human Resource Area The most common forms of business organizations in the Philippines include:

Lesson Contents 4 Reasons for Going to Business 1 • Personal satisfaction – sense of achievement • Family involvement – sense of duty to continue family business • Independence and power – they want to be the boss • Social activities – they love social activities. • Profit expectations – motivated by the promise of profit and wanted to become rich Colegio de San Juan de Letran Management / Human Resource Area Business in General

Mental Flex 4 Test your potential as Entrepreneurs 1 As a student, imagine yourself as part of the business system. List some of your activities which are related to the business enterprise such as selling and promoting your products or services, or as the one converting raw materials into something useful finish products. Analyze them in relation to the four elements of business or production discussed in this module. (NOTE to the facilitator: Adopt the activity in the book of Iñigo on “Test your potentials as an Entrepreneur. ” Page 37) Colegio de San Juan de Letran Management / Human Resource Area Business in General

Assignment 4 The success story that inspires me 1 Students must look for the success story of a Filipino businessman or entrepreneur and make a reflection paper about it. The likes of Socorro Ramos of National Books Store, Rolando Hortaleza of Splash Corporation, and Ricardo Cuna of Fiorgelato Ice Cream are examples of these successful entrepreneurs in the country today. Identify their success factors and share them in the class. (This activity encourages students to express their ideas in the class and develops their intra-personal relationships and verbal communication skills) Colegio de San Juan de Letran Management / Human Resource Area Business in General

Business in General Looking Back (the final test) 4 Review Questions: (10 points each) 1 1. How business contributes to the economic development of a country? 2. Explain the relationship of the business firm and the economy. 3. How the government collects tax money from the business owners? Explain the role of the kinds and legal forms of business organizations. 4. Discuss the reasons why people engaged into a business. 5. Do you have what it takes to be an entrepreneur or a businessman? Colegio de San Juan de Letran Management / Human Resource Area (Answer the following questions in two and three paragraphs by citing examples based in real life situation. Write your answer in the box provided below. You may use separate paper if necessary. )

End of Module 1 1. Thank You very much! 1 You finished it on time. Congratulations! Colegio de San Juan de Letran Management / Human Resource Area Business in General