Introduction To Business

Class: BBA
Lecturer: Sir Bilal Ahmed
 What is Research
 Research is the process of finding solutions to
a problem after a thorough study and analysis
of the situational factors.
 Business Research
 Business research can be described as a
systematic and organized effort to investigate a
specific problem encountered in the work
setting, that needs a solution. Business research
comprises a series of steps designed and
executed, with the goal of finding answers to
the issues that are of concern to the manager in
the work environment.
 Types of Business Research
Research can be undertaken for two different
purposes: To solve a current problem faced by
the manager in the work setting. Such research is
called applied research. To generate a body of
knowledge about how to solve problems that
could be occurred in organizations. This is called
basic research or fundamental research. It is also
known as pure research
 Examples of Applied Research
 Packages sales increased by 200% from 2001
to 2008. but the sales decreased by 6% in
2009. What is the reason for this decrease? The
question is: what will Packages do about this
problem? 
 Examples of Basic Research
University professors engage in basic research in
an effort to understand and generate more
knowledge about various aspects of businesses,
such as: How to improve the effectiveness of
information systems. How to integrate
technology into the overall strategic objectives
of an organization. How to increase the
productivity of the employees. How to increase
the effectiveness of small businesses.
IT In Business
 Introduction
 Technology plays a vital role in the business world.
 It provides the tools and functions on which almost all
companies throughout the world run. • With the advent
of new technologies, the use of computers and Internet
has increase. 1. History. • Before the development of
modern technology, there was the trade and barter
system.
 Advances led to a skeleton of what we know as business
today.
 People handled every aspect of running a business, even
the responsibility of making machines work manually.
 Role of IT in Busines
Information technology (IT) has become a vital and integral part
of every business plan. From multi-national corporations who
maintain mainframe systems and databases to small businesses
that own a single computer, IT plays a role. • The reasons for the
omnipresent use of computer technology in business are
 Communication.
 For many companies, email is the principal means of communication between
employees, suppliers and customers. Over the years, a number of other
communications tools have also developed, for e.g. live chat systems, online
meeting tools and video-conferencing systems etc.
 Inventory Management.
 Inventory management systems track the quantity of each item a company
maintains, triggering an order of additional stock when the quantities fall below a
predetermined amount
 Data Management.
• Companies are able to store and maintain a tremendous amount
of historical data economically, and employees benefit from
immediate access to the documents they need.
 Management Information Systems.
• Management Information Systems (MIS) enable companies to
track sales data, expenses and productivity levels. • Managers
can track sales on a daily basis, allowing them to immediately
react to lower-than-expected numbers by boosting employee
productivity or reducing the cost of an item.
 Customer Relationship Management.
• Customer Relationship Management (CRM) systems capture
every interaction a company has with a customer, so that a more
enriching experience is possible. • It helps to improve the way
they design and manage customer relationships.
CSR In Business
 DEFINITION OF CSR
“Corporate Social Responsibility is the
continuing commitment by business to behave
ethically and contribute to economic
development while improving the quality of life
of the workplace and their families as well as of
the local community and society at large”.
 WHY SOCIAL RESPONSIBILITY OF
BUSINESS?
‘The Business of business is Business’ was the motto of
businesspersons in early times.
 To economists like Adam Smith and Milton Friedman, in a

capitalist society profit maximization by the continued

increase of efficiency is the most socially responsible way of
conducting business. This implies making quick money, with
utter disregard for the responsibility of business towards
society.
 The ethical and social behavior of corporations is essential for

the generation of profit, owing its source to the reputation the

corporation would acquire in view of its social behavior.
 Corporate social responsibilities to
different group of stakeholders
 To consumers and community
 Quality
 Reasonable prices
 After-sales services
 Free competition
 Ethical advertising policy
 Support for educational, charitable and other programs
 Honest trade policies
 Impartiality towards political affairs
 Social accountability
 Progressive outlook
 To employees
 Pay fair wages
 Provide reasonable work conditions
 Help development of proper leadership
 Guarantee religious, social and political freedom
to workers to take part in civic activities
 Provide fair return
 Develop healthy cooperative business relationship
 Check the advance of unfair practices
 Help in control of monopoly and promotion of
healthy competition.