Fundamental Business Concepts

An overview of the things every business student should know within the first few months of their management education.

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Fundamental Business Concepts by Mind Map: Fundamental Business Concepts

1. Marketing

1.1. The marketing principle

1.2. Target market

1.3. Market segmentation

2. Finance

2.1. Financial Statements

2.1.1. Cash Flow

2.1.2. Balance sheet

2.1.3. Profit and loss

2.2. Raising money

2.3. Standard documents are used (i.e. receipts)

2.3.1. To keep track of transactions

3. Planning

3.1. Strategy

3.2. Writing a business plan

3.3. Aims

3.3.1. Objectives help you meet your aims Goals are short-term measures that help you meet your objectives

4. Technology

4.1. Using the internet

4.2. Computer Skills

5. The Business Environment

5.1. Communications

5.1.1. Written There are standard document formats There are lots of reasons to follow the standard formats

5.1.2. Verbal

5.1.3. Non-verbal communications Gestures Proximity Clothing

5.2. Stakeholders

5.2.1. Shareholders

5.2.2. Internal and external customers

5.3. Economics

5.3.1. Micro-economics How to make an company work within the economy...

5.3.2. Macro-economics How to make a national or global economy work

6. Legal aspects

6.1. Ownership

6.1.1. Sole Proprietor

6.1.2. Partnership

6.1.3. Public Limited Company (PLC)

6.2. Legislation protects people

7. Managing people

7.1. motivation

7.1.1. Theories are useful Taylor Maslow's Hierarchy of Needs Mayo