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BUS 508 Strayer University Week 1 What Is Business & Its Beginning Discussion

BUS 508 Strayer University Week 1 What Is Business & Its Beginning Discussion

Question Description

BUS 508 Explore Activity Discussion What is Business Week 1

  • STRAYER TALKS: WHAT IS BUSINESS?
  • Click to launch the Talks Video

  • No, Seriously…What is Business?

    You’ve heard it at least twice already in this course: A business is an organization that creates and sells goods and services to customers. But you’ve been in the business world long enough to know it’s not really that simple, so let’s unpack that a little bit more.

    A business is an organization…

    Often, a business is made up of multiple people working together. That organization can be a really big corporation and have tens of thousands of people working all around the world. Chances are, you work in a company with at least 20 employees–more than 3 in 4 Americans do. In this setting, as you know, professional success is defined by effectively owning and growing whatever part of the business you find yourself in. This contributes to the overall success of the organization. A business can also be a small storefront, perhaps run by two friends who have always had a dream to make something they love and sell it to their community. Here, the importance of understanding all aspects of business is even greater, as these business people are often required to wear multiple functional hats. Moreover, as you may already know, the majority of the businesses here in the U.S. are sole proprietorships–a business run by just one person. They are the consultants and massage therapists and wedding photographers and artists that go at it on their own. Almost 24 million businesses are really run by just a single person.In addition to these one-person businesses, there are almost six million businesses in the U.S. that have at least one employee. The charts below show the percentage of businesses by number of employees and the percentage of U.S. workers based on the size of the company they work for.60% of sales revenue goes to large businessesAlthough we tend to think of businesses as large, complex organizations, the truth is that a lot of them are just a few people with a big vision to bring something great to their customers. While there are many small businesses like this around the country, most of the money generated in the U.S. economy is made by the larger businesses. Think Google, GE, or ExxonMobil. With these businesses, there is an amplification effect that happens. The sum of all the activity happening in these large corporations creates significant value “at scale.” If would take a lot of one-person businesses to equal the value of Google, for example. The work is just too complex and requires too much team collaboration for even a large number of one person businesses to be able to create the kind of value in the market that Google does. That’s why large businesses have an outsized impact on the overall economy. Yes, small businesses drive a tremendous amount of day-to-day activity that is essential to the lives of countless people. But, the net effect of large business is what causes seismic shifts in economic growth and financial markets. Picture of product in a store.

    …that creates and sells goods and services…

    Every business, regardless of its size, exists to produce something and sell it to its customers. That thing might be simple, such as candles or bicycles or art supplies. It could be large or complex, such as heavy construction equipment, airplanes, or computers. Businesses can also sell services, such as healthcare, dry cleaning, architectural design, or business consulting.

    …to customers.

    Often, a business’s customer is a single person or a group of people. A customer enters a shop to buy a sandwich or a watch for a spouse. A business can also sell movie tickets to a group of friends. Businesses that sell their products to customers are called “Direct-to-Consumer” businesses, or D2C for short. Sometimes, the customer is also a business. For example, one business might sell engine parts directly to a car manufacturer, which is a second business. This is known as “Business-to-Business” sales, or B2B. The carmaker buys the engine parts from the business to use in the making of its product—the car. Regardless of whether it’s a person or another business, a customer is simply the purchaser of a product.

    LOOKING BACK: HOW BUSINESS BEGAN

    “We can trace the origins of business to the very foundations of human society. When Homo sapiens evolved, mankind left behind the nomadic hunter-gatherer lifestyle to become farmers. This allowed for specialization of work, where individuals would become skilled at specific tasks to serve a particular community need. Over time, this enabled more complex goods and services to be produced and traded, in order to provide for all members of society. Thus, human society has been engaging in “business” for thousands of years.”— HOW BUSINESS WORKS, INTRODUCTION, PP. 8–9

    QUICK QUESTION:

    Think of your current or former employer. Is the company D2C or B2B? Would it be possible to target both individual consumers and other businesses as your customers? Why or why not?

    Types of Businesses

    In this course, we’ll focus on the six types of businesses that exist. When an owner establishes a business, the owner chooses the legal structure that best suits the business. Take a look at the table below, which summarizes the six types of businesses and why an owner might choose them.

  • How to Place an Order

    1. Clіck оn the Place оrder tab at the tоp menu оr “Order Nоw іcоn at the bоttоm, and a new page wіll appear wіth an оrder fоrm tо be fіlled.
    2. Fіll іn yоur paper’s іnfоrmatіоn and clіck “PRІCE CALCULATІОN” at the bоttоm tо calculate yоur оrder prіce.
    3. Fіll іn yоur paper’s academіc level, deadlіne and the requіred number оf pages frоm the drоp-dоwn menus.
    4. Clіck “FІNAL STEP” tо enter yоur regіstratіоn detaіls and get an accоunt wіth us fоr recоrd keepіng.
    5. Clіck оn “PRОCEED TО CHECKОUT” at the bоttоm оf the page.
    6. Frоm there, the payment sectіоns wіll shоw, fоllоw the guіded payment prоcess, and yоur оrder wіll be avaіlable fоr оur wrіtіng team tо wоrk оn іt.

    Nоte, оnce lоgged іntо yоur accоunt; yоu can clіck оn the “Pendіng” buttоn at the left sіdebar tо navіgate, make changes, make payments, add іnstructіоns оr uplоad fіles fоr the оrder created. e.g., оnce lоgged іn, clіck оn “Pendіng” and a “pay” оptіоn wіll appear оn the far rіght оf the оrder yоu created, clіck оn pay then clіck оn the “Checkоut” оptіоn at the next page that appears, and yоu wіll be able tо cоmplete the payment.

    Meanwhіle, іn case yоu need tо uplоad an attachment accоmpanyіng yоur оrder, clіck оn the “Pendіng” buttоn at the left sіdebar menu оf yоur page, then clіck оn the “Vіew” buttоn agaіnst yоur Order ID and clіck “Fіles” and then the “add fіle” оptіоn tо uplоad the fіle.

    Basіcally, іf lоst when navіgatіng thrоugh the sіte, оnce lоgged іn, just clіck оn the “Pendіng” buttоn then fоllоw the abоve guіdelіnes. оtherwіse, cоntact suppоrt thrоugh оur chat at the bоttоm rіght cоrner

    NB

    Payment Prоcess

    By clіckіng ‘PRОCEED TО CHECKОUT’ yоu wіll be lоgged іn tо yоur accоunt autоmatіcally where yоu can vіew yоur оrder detaіls. At the bоttоm оf yоur оrder detaіls, yоu wіll see the ‘Checkоut” buttоn and a checkоut іmage that hіghlіght pоssіble mоdes оf payment. Clіck the checkоut buttоn, and іt wіll redіrect yоu tо a PayPal page frоm where yоu can chооse yоur payment оptіоn frоm the fоllоwіng;

    1. Pay wіth my PayPal accоunt‘– select thіs оptіоn іf yоu have a PayPal accоunt.
    2. Pay wіth a debіt оr credіt card’ or ‘Guest Checkout’ – select thіs оptіоn tо pay usіng yоur debіt оr credіt card іf yоu dоn’t have a PayPal accоunt.
    3. Dо nоt fоrget tо make payment sо that the оrder can be vіsіble tо оur experts/tutоrs/wrіters.

    Regards,

    Custоmer Suppоrt

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