December 11, 2020

Warehouse; This is a building or a part of a building where goods are received and stored until need arises for them. -Other terms used to refer to a warehouse are depot, a go down or a silo. Warehousing; This is the process of receiving goods into a warehouse, protecting such goods against all types […]

TOPIC OBJECTIVES By the end of the lesson, the learner should be able to: Explain the meaning and importance of transport to business. Explain the essential elements of transport. Describe the modes and means of transport. Discuss the advantages and disadvantages of each means of transport. Discuss the factors that influence choice of appropriate means

COMMUNICATION Meaning of communication Communication is the transfer or conveyance of messages or information from one person to another. Communication is the process of sending and receiving meaningful messages, information and ideas between two or more people located at different points in space. Note: The space between the sender (s) and the receiver (s) maybe

GOVERNMENT AND BUSINESS BY THE END OF THE TOPIC, THE LEARNER SHOULD BE ABLE TO: Explain reasons for government involvement in business. Explain how the government gets involved in business. Discuss the merits and demerits of government involvement in business. Discuss the importance of consumer protection. INTRODUCTION Government involvement in business activities is one of

TOPIC OBJECTIVES BUSINESS UNITS A business unit is an organization formed by one or more people with a view of engaging in a profitable activity. Business units are generally classified into private or public sector business units’ i.e Note: Private sector comprises of business organizations owned by private individuals while the public sector comprises business

Trade is the buying and selling of goods and service with the aim of making profit Importance of trade Avails a variety of goods and service Helps producers to dispose their surplus produce Creates employment It encourages specialization and division of labor Promotes social relations and understanding in the parties involved Ensures steady supply of

An office is a place, a room or a building set aside in an organization where communication, secretarial, accounting, administration and clerical work take place Functions of an office Receiving and recording information The office receives information by such means a letters, telephone calls, orders, invoices, face to face conversation and reports. Information may be

The process of identifying a business opportunity and getting necessary resources to start and run a business. ENTREPRENEUR- A person involved in entrepreneurship Importance to the economy creation of employment formation of capital reducing rural urban migration raising standards of living saving import improving infrastructures reducing foreign dominance making use of local resources promotion of

It’s the creation of goods or provision of services to satisfy human wants It involves activities of transforming of materials into finished goods, transportation and storage Utility Utility_-is the ability of a good or services to satisfy human wants. Types of utility Form utility –this is changing the form of a commodity by converting raw

Human wants These are desires that people have or strive to satisfy e.g. thirst is a desire for drink Goods and service provide by the business are intended to satisfy a human want. Classification of human wants Basic/ primary wants/needs Are the necessities that are absolutely vital for the human survival They include food, shelter

The main purpose of a business is to make profits. To achieve this, a business needs to: Satisfy customer needs Reduce operating costs Strive to survive by competing favorably Types of business activities Extraction – means obtaining goods from their natural setting e.g mining, farming, lumbering etc Processing of raw materials – it is changing

Definition of terms used in business studies Business – refers to any activity that is carried out by an individual or an organization concerned with provision of goods and services with the aim of making profits Business studies– it is the study of the activities that are carried out in and around production, distribution and