Dynamics of a business ( 1st slide)

What is business?

An organization that strives for profit by providing goods and services desired by its customers

What are goods?

Tangible items that can be touched

Like laptops

What are services?

Intangible Offerings provided by a business that can't be held, touch, or stored.

Physicians, doctors, teachers all provide services

What are profits?

The difference bw business’s revenue and expenses.

Businessman?

A person engaged in a business

Also called entrepreneur

How does a business meets the need of it's consumers

By providing goods and services

Transport

Medical care etc

Purpose of a business ?

To create value,not just profit .

It solves a problem faced by its consumers.

Value?

Means providing something useful and valuable to it's consumers And the society.

What was the traditional view regarding a business?

They thought the sole purpose of a business was to create profit.

What is the modern view of the society regarding business?

A business strives for

Profit+ customer’s satisfaction+ Employee growth+ Social impact

How is careem providing value to it's customer?

It not only makes money But create jobs and convenience

How do u create value? Value creation?

U provide something meaningful that matters to the consumers

Types of value ?

1) for customers : quality, convenience , solution

2) for employees :jobs , learning ,career growth

3) For owners: profit, return on investment

Who are the key players In value creation?

1- customers : centre of all the business activities

2-employees: Provide services

3-Owners/ entrepreneur : Take risks ,provide capital

Capital?

Money and other assets that a company uses to fund it's growth

List the ways a business creates value

1-Price value

2- Product value

3- experience value

4- social value

Product value?

-good quality

-good design

-reliability

Ex: apple phone ( Innovation+ design)

Price value?

• Affordable

• Better deals

• Ex : daraz flash sales

Experience value?

• Convenience

• Good services

Social value ?

Some how it should be contributing to the society and environment

• Eco friendly packaging By local brands

Types of resources in a business?

• Human

• Financial

• Physical

Human resources?

These are the people that works for a business

They use their knowledge,skills and expertise to help a business grow

Financial resources?

These are All the capital and monetary assets that a business has available To funds it's operation and growth .