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A business is an organization that utilizes human, physical, and financial resources to provide goods and services that meet people's needs. Key resource inputs include land, labor, capital, and enterprise, which are processed to create tangible goods and intangible services. Effective business operations involve various functions such as Human Resources, Finance, Marketing, and Operations, each playing a vital role in ensuring success and profitability.

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2 views

Document

A business is an organization that utilizes human, physical, and financial resources to provide goods and services that meet people's needs. Key resource inputs include land, labor, capital, and enterprise, which are processed to create tangible goods and intangible services. Effective business operations involve various functions such as Human Resources, Finance, Marketing, and Operations, each playing a vital role in ensuring success and profitability.

Uploaded by

olivaarroyojorgemanuel
Copyright
© © All Rights Reserved
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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INTRODUCTION TO BUSINESS

A business is an organization that provides goods and services to meet


people's needs and wants. In this case, businesses combine different
resources: human, physical, and financial. Human resources include
workers, managers, and business owners who contribute their skills and
effort. Physical resources are things like buildings, machines, and
materials used to produce goods and services. Financial resources are the
money businesses need to operate, such as investments and profits. By
using these resources wisely, businesses create valuable products that
benefit society and help the economy grow.

Businesses need different types of resource inputs to function; these


include land, which provides natural resources like water, minerals, and
farmland; labor, which includes the workers who produce goods or deliver
services; capital, which refers to money, tools, and equipment used in
production; and enterprise, which is the ability of entrepreneurs to bring
everything together and take risks to make a business successful. These
inputs go through production processes to create the final product or
service. The product outputs of a business can be either goods or
services. Goods are tangible products like clothes, phones, and food that
consumers can buy and use. Services, on the other hand, are intangible
and include things like education, healthcare, and banking.

Businesses aim to produce high-quality outputs that satisfy customer


needs and generate profit. To operate effectively, businesses have
different functions, each with a specific role. Human Resources (HR)
handles hiring, training, and employee well-being. Finance manages
money, budgeting, and financial planning to keep the business running.
Marketing promotes products, conducts market research, and attracts
customers. Operations oversees production, supply chains, and quality
control. Each function plays a crucial part in ensuring the business runs
smoothly and successfully.

Members:
 Camila Daniela Bandenay
 Manuel Oliva
 Matías Cailloma

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