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Unit 1: Business Organisation


Marketing Objectives

These are the aims a business wishes to achieve through it's use of the marketing mix. They may include:

  • Profit
  • Growth
  • Revenue maximization
  • Increased market share
  • Product information
  • Product innovation
  • Customer Service/Satisfaction

Consumer vs Product Orientation

These are the aims a business wishes to achieve through it's use of the marketing mix. They may include:IB economics consumer and product orientation


Introduction to Business Management

The Role of Businesses



Business Functions and their role


Primary, secondary, tertiary and
quaternary sectors

Open systems exchange both energy and matter with their surrounding environment.

Most systems in nature are open, from ponds to ecosystems to biomes.

Energy is transfered in the same way, light entering, being absorbed and the heat emitted.

Matter is transfered when birds enter the system, when ocean currents bring and take away water, when the wind blows, when fish swim into the ecosystem.

Role of an Entrepreneur

These are systems in which neither energy or matter crosses its boundaries. They do not occur in nature. On a large scale the entire universe could be considered and isolated system.

Business Plans


Setting up a Business

Feedback that tends to damp down, neutralize or counteract any deviation from an equilibrium, and promotes stability.

Negative feedback creates more stability in systems.

In the diagram an increase in carbon dioxide leads to increased atmopsheric temperatures. This in turn leads to higher rates of photosythesis which results in more carbon dioxide being removed from the atmosphere and therefore counteracting the rise in temperature.

Types of Organisations

Public vs Private

Sole Trader


Private Limited

Public Limited


Profit-Oriented Social Enterprises


Non-Profit Oriented Social Enterprises