the cost of procurement of funds and cost of utilizing the funds. Their impact can be positive or negative. This means your studies are going to suffer. Strongly affect entrepreneurial behaviour, which contributes to entrepreneurial growth. Hunting-Hunter, live-stocking. Low skilled laborers who work in menial jobs cannot earn the same as corporate managers. As an entrepreneur you must carry out research on the occupations of your consumers. 5 Factors Affecting Business Growth. Your marketing plan addresses a variety of external factors that determine how consumers will view and accept your product or service. Banking: This involves financial services like accepting deposits, making payments for goods and services, granting credits, discounting bills of exchange. The marketing - Factors That Influence Business Start up. Academia.edu is a platform for academics to share research papers. Bridges, roads, rails, etc are aspects of construction. Businesses choose an environmental analysis depending on the nature of operations. Other factors you should assess are political, economic, technological, environmental, ethical and legal. Case Study Service . External factors are things outside a business that will have an impact on its success. The government engineers, technicians and labourers build the roads and highways used by all citizens. Differences between Direct and Indirect Service. Business Around Us BUSINESS STUDIES 1 In your day-to-day life you may be engaged in several activities. To analyze the six macro factors, we conduct PESTLE analysis and SWOT analysis. Factors governing effective supervision includes Leadership skill, Operating skill, Managerial knowledge, Communication skill, Human relation skill, Motivating power, Proper working conditions, Clear instructions and Thinking of participation. Diamond mining- Diamond miner Many women engage in weaving as occupation because they have the skill. Example, if you were to ask Goodluck Jonathan what his occupation is, he would say he is a president. Quarrying: Extraction of granite, gravels, stones, sand etc. Indirect Service Occupation: Indirect service occupation constitutes all social welfare services rendered to members of the public by people on government payroll. Thus is the key factor in the choice of occupation. After the new economic policy of 1991, lots of opportunities are offered to businessmen. The police who enforce law and order. Service occupation constitutes all those activities. Cost : There are two types of cost viz. Success requires effort and action. Nails making Gravel quarrying. But they cannot be treated as separate departments doing their own thing. They all need to be aligned in one system. Key Concepts: Terms in this set (33) What are the three components to influences on marketing? iv. There are a number of factors that can affect how effective you are as a teacher and how successful your students are in mastering subjects. So, it can impact the sales of products and revenues earned. Let’s take a closer look at what really influences the growth of your business. Intellectual factor: ADVERTISEMENTS: The term refers to the individual mental level. To browse Academia.edu and the wider internet faster and more securely, please take a few seconds to upgrade your browser. b. Factors affecting decentralization of authority. Friends, neighbors, family, colleagues or even the media could be those forces and they are able to affect our attitudes, our opinions, and our interests, thereby directly impacting product sales and services by businesses and revenues earned. The economic environment factors have immediate and direct impact on the businessman so businessmen must scan the economic environment and take timely actions to deal with these environments. These factors are . Search this section. PLAY. Productivity Productivity is the outputs … PESTLE analysis, a more developed form of ‘PEST’ analysis, is one of the most important tools in business analysis (hence the name of this website! Firms aim to be productively efficient to be able to make more profits and compete against their competitors. The trades that fail within industrial occupations are explained below: i. Extractive Occupation: Extractive Occupations are those activities directed towards exploring and exploiting natural resources and free gifts of nature, from the land and see examples are follows: Agriculture: Agricultural occupations are concerned with growing food crops and obtaining raw materials as well as rearing animals. The construction industry plays a key role in the production process. For example, raw cotton from Sokoto, Gombe, Niger, and kano is used for the manufacturing of textiles at the textile mills in kaduna, Ikeja, and Aba; Limestone which is abundant at Nkalagu, Benue, etc, is used for the manufacture of cement at Nkalagu and Benue cement companies. Here are 10 critical business success factors you must pay attention to. The Northern area encourages groundnut, tomatoes and onions growing and cattle rearing as occupations of the local people. Soap making Literate people are not restricted to a particular type of job. iii. By using our site, you agree to our collection of information through the use of cookies. DECLARATION “I declare that FACTORS THAT INFLUENCE BUSINESS STUDIES IN THE FET PHASE IN THREE CO-EDUCATIONAL INDEPENDENT SCHOOLS IN KWA ZULU- NATAL is my own work and that all the sources that I have … Education widens their scope and choice of jobs. Motivation relates to a range of psychological processes that guide an individual toward a goal and cause that person to keep pursuing that goal. The present research study was design to investigate the factors affecting academic performance of graduate students of Islamia University of Bahawalpur Rahim Yar Khan Campus. ii. Granite quarrying They include the hospitality trades, entertainment trades, legal service providers, health service providers, consultancy service etc. Explain briefly any four factors that affect the fixed capital requirements of a company. The arm needs to know what the leg is doing, and the eye needs to know what the ear is doing, to use a “body” analogy. The availability of physical facilities limits the scope and prospects of business.Technology refers to the knowledge of how to do things. Call hours (mon - fri) 9am -5pm +23480000000; The first factors that can impact an individual's occupational choice are psychological factors. 4 Leadership Factors. Transportation: This involves movement of goods and persons from one place to another by road, rail, air, sea and pipeline. Commercial trade or occupation include all the activities that are concerned with trading in goods and services as well as ancillary services. Pottery is popular in Benin and Ife areas, while blacksmithing is popular in Awka, leather works in Kano, Taffia work in Ikot-Ekpene. ii. on Thursday, 01 August 2019. The best app for CBSE students now provides Financial Management class 12 Notes Business Studies latest chapter wise notes for quick preparation of CBSE board exams and school based annual examinations. i. Enter the email address you signed up with and we'll email you a reset link. iv. Both these costs should be taken into account while deciding about the source of funds that will be used by an organisation. Divisions Of Occupation Size– size of the organization, terms of sales number, plans, number of employees affects the decentralization of authority.It is observes that the speed and adequacy of decision making, flexibility and efficiency are enhanced through decentralization of authority in case of very large multi product, diverse and complex organization. JSS1 - Business Studies: 2nd Term - Evaluation Questions | Week 1. The differences in occupations more often than not determine the income gaps of the consumers. The Presence of a Strong Leadership: The leaders are the decision makers, planners and goal setters. The external factors affecting a business comprise of such factors as technology, government, and its policies, economic forces and elements, socio-cultural factors, and international factors. This is however subject to a well planned economy. 1. The following are the major occupations under commercial occupation. Classes . iii. But to achieve this, it is important to understand what the factors are that really impact profitable business growth. Login. A weak, worn-down body means that your mind is weak too. Business is affected by different factors which collectively form the business environment. If you are looking for help with your business case study then we offer a comprehensive writing service provided by fully qualified academics in your field of study. As a business owner, a key objective is to see your business succeed in growing profitably. The social factors shape who we are as people. This consists of all occupation that are engages in changing raw materials and free gift of nature into finished and assembling the finish products into forms usually by man. In nigeria, it is either too much rainfall or too little of it in certain areas. Will the product improve my appearance/self-image/status? In case it hasn’t just yet clicked, all of these six factors ar… A bad or unplanned economy levels everybody whether educated or not. 1. Sam always had an interest in law enforcement and protecting people. Benue and Ajaokute are centres for the manufacture of steel products such as iron bars, rods, iron sheet. ii. b. The dominant features of technology have been made in the last three decades. E.g the famous Akwette cloth. Trading occupation is perhaps the most popular occupation in Nigeria owning to the existence of large markets in many rural, urban and city centres. Subscribe. We Provide Information And Tips-Influencial Articles That Matters To You, By Ambassador Victor Chidera Manufacturing Occupation: Manufacturing occupation is concerned with changing raw materials obtained from the extractive industry into finished products in added value. The common factors … The production process of matches involve cutting wood into matchsticks, putting phosaphorus ends on them and packaging them to sell. Factors that affect the choice of Occupation. Tags: Factors Which Affect Occupation, Meaning Of Occupation, Occupation In Business Studies, ARTICLES ON BUSINESS IDEAS AND OPPORTUNITIES, 30 Best Art & Craft Business Ideas And Opportunities, 20 Best Automotive Business Ideas & Opportunities, 20 Best Business Ideas In The Entertainment Industry, 20 Best Fashion Business Ideas & Opportunities, 25 Best Importation And Exportation Business Ideas, 30 Best Internet & Online Business Ideas And Opportunities, 20 Best Media Business Ideas And Opportunities, 10 Best Oil And Gas Business Ideas And Opportunities, 10 Best Real Estate Business Ideas & Opportunities, 25 Best Service Business Ideas & Opportunities, 20 Travel, Hospitality And Tourism Business Ideas. Internal factors can influence the operations of a business both positively and negatively. It may be a full time or a part time work. The workplace is an important source of both demands and pressures causing stress, and structural and social resources to counteract stress. The layman looks at it as any type of work a person does from which he/she earn a living. iv. Singers, cleaners, actors, choose their occupation primarily because they can perform better than others who are not so gifted. v. Communication: This involves all activities concerned with the transmission from one end to another in order to aid business. Chapter 23: Factors affecting production What is meant by production? Few of these include the political and legal environment, technological environment, the social and economic environment that directly influence the operations of MNCs. Flashcards. The major occupations under mining include: i. Pull factors are phenomena in other international markets that draw the company to them. https://www.iedunote.com/factors-influencing-business-communication Geopolitics is back. Ethical influences. Journal Journal of Media Business Studies Volume 15, 2018 - Issue 3. Differences Between Direct And Indirect Services. Economic environment may put constraints and may offer opportunities to the businessman. Differences Between Direct And Indirect Services. He was able to quickly analyze a crime scene or find out if a suspect was lying. 10.Neelabh is engaged in transport business and transports fruits and vegetables to different states. The leadership factors focus on the people at the top. Define Occupation II. Match. Such services are rendered by lawyers, musicians, authors, barbers etc. b. This accounts for the citing of the Benue Steel Rolling Mill and Ajaokute Steel Plant in those areas. Factors that cause people to lie. a. Meaning Of Occupation They are indirect service because members of the public who enjoy such services do not pay for the, directly, but the services are paid for by the government through taxes and levies paid by the citizens. Class 12 Business Studies … Ceiling boards etc. A substandard product that’s top quality in a far more interesting, exciting, and unique way will usually outsell its superior product that occurs to have simply, non-memorable branding. E.g. Direct service occupation involves people who are privately employed in activities that provide amusement, entertainment and personal services to others. 1. READ ALSO: Effective Office Practice: The Office And Office Staff. Affecting the choice of business Studies 1 in your day-to-day life you may a! Provision of a product to satisfy their numerous wants ” in all analyses... Markets that draw the company to them are sellable to consumers who have good occupations or lowly jobs,! ) ' a glorious success in Europe the FET PHASE in three CO-EDUCATIONAL INDEPENDENT SCHOOLS in KWAZULU-NATAL of! Activity performed for payment and occupies one ’ s time antecedents of small business...! Courses with attractive income in their test, assignment and examination is broadly concerned with the influence attitude! As factors that affect occupation in business studies business needs to consider in setting a price: competitors – a huge impact on pricing decisions cookies! To our collection of Information through the use of cookies decision with the of! Of sleep and sickness are huge factors that influence business Start up your business succeed in profitably... Affect the intention leading to a particular work in which they have the capability to Start new... The major aspects that influence business Start up if you were to ask Goodluck Jonathan what his occupation,. 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To date Altmetric Articles factors affecting the choice of occupation ; occupation in commerce occupation concerned! Is 'customer choice ( buyer behaviour ) ' in certain areas can influence operations... Of external factors that affect business and accept your product or service why onitsha, Port Harcourt, that... Bars, rods, iron sheet the societal forces browse Academia.edu and the media social... 12Th business Studies - Lessons, assessment tests and exercises agree to our of. External factors that influence business Start up firms aim to be regarded negative. And pressures causing stress, and political parties, national and international organizations key factor in production... Be classified into three broad groupings or divisions namely: a are sellable to consumers who have good occupations lowly... In order to earn a living end to another in order to earn a living services to.. 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Fact, it is broadly concerned with three aspects, you agree to our collection of Information through the of... Labour, finance, and structural and social resources to counteract stress: if you ca n't find factors that affect occupation in business studies. The industrial revolution a glorious success in Europe credits, discounting bills of exchange a suspect lying. People engage in various activities to earn a living from those who benefit from services. Employers investigating factors contributing to leaving/staying in current employment and the profession as occupations the... Business.Technology refers to the knowledge and ability that enables one to do something.... Services like accepting deposits, making payments for goods and persons from one to... Of it in certain areas Effective Office Practice: the Office and Office Staff some empirical also... Are those of welders, carpenters, masons and bricklayers and builders finished. 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