business notes

importance of the chain of pproductoin

--> the interconnectivity of all four business sectors which tracks the stages of
an item's -> consumer
* Interdependency: each sector relies on the others to remain in existance

secotral change: a shift in the relative share of national output and employment
that is attributed to each business sector over time.
* As LEDC develops it shifts from majority primary sector -> secondary -> tertiary
-> quatrenary
* industrialization: when a country shifts from mainly primary sector (low added
value) business activity to (relativley larger added value)
* automation: caused employment in the secondary sector to decline
ethical concerns of automation
- pros: automation could increas effeciency due to robots working 24 hrs, no
need to pay or take cover employees
- cons: employees will be fired and will have no income

* tertiary and quatrenary demands increase in MEDC's:

1. higher household incomes: increased incomes = more demand for services
2. more leisure time higher standards of lving = recreation/services
3. greater focus on customer service
4. increased reliance on supported services

The role of entreprenuership and Intraprenseurship

* entrepreneur: plans, organizes, and manages a business taking on financial risks
- much more than someone who uses resources to create products
* skills to be an entrepreneur

coca-cola:
* secondary
* they manufacture soda drinks

HSBC:
* tertiary
* bank services, current and savingd, sccoutns, mortage, loans, car financing,
insurance

RioTinto
* primary
* extracting fossil fuels

Foxconn
* secondary, tertiary
* they manufacture electronic devices and sell them

IBM
* tertiary
* offer data analysis services, cloud services, and etc

Wyndham Worldwide
* tertiary
* offer wedding services, sell furniture
role of entra and intrepreneurhsi
* act of being an entrepreneur but as an employee within a large organization
- benefits: don't have to establish financial risks like entrepreneurs if their
projects fail

entrepreneur vs intrapreneur differences:

entrepreneur:
- is the owner of the project
- high risk taking level
- same degree of innovation
- greater financial reward
- higher responsibility and accountability because he's the leader
- limited resources

intr apreneur:
- lower status because he's an employee under the owner
- low risk taking level because the intrapreneur won't loose anything
- same degree of innovation
- lesser financial award
- lesser responsibilty and accountability
- greater acess for resources

exam practice:
describe one possible objectives of a public health organization

state two characteristics of an intrapreneur

* stating a definition doesn't help and won't give any marks
1. find how many paragraphs to write (write 2 paragraphs)
2. for each paragraph start by stating the characteristic
- state characterstic 1
- theoretical explanation
- application to the text
* analysis not reading comprehension

Question b: