Definition

Question 1

Business ?

Answer 1

Every successful business (1) creates or provides something of value that (2) other people want or need (3) at a price they’re willing to pay, in a way that (4) satisfies the purchaser’s needs and expectations and (5) provides the business sufficient revenue to make it worthwhile for the owners to continue operation

• Value creation => understanding what people want (market research)
• Customer demand => attracting customer (marketing)
• Transactions
• Value delivery, => trust ability to delivery (value delivery and operations) + expectations (customer service)
• Profit sufficiency => (finance)

Question 2

To read :

Answer 2

Frederick Winslow Taylor, the pioneer of “scientific management” techniques

Question 3

Accounting to read

Answer 3

Accounting Made Simple by Mike Piper,
Essentials of Accounting by Robert N. Anthony and Leslie K. Breitner,
The McGraw-Hill 36-Hour Course in Finance for Nonfinancial Managers by Robert Cooke,
How to Read a Financial Report by John A. Tracy.

Quantitative Analysis.
Principles of Statistics by M. G. Bulmer and Turning Numbers into Knowledge by Jonathan G. Koomey.

Question 4

5 process of a business ?

Answer 4

1. Value Creation. Discovering what people need or want, then creating it.
2. Marketing. Attracting attention and building demand for what you’ve created.
3. Sales. Turning prospective customers into paying customers.
4. Value Delivery. Giving your customers what you’ve promised and ensuring that they’re satisfied.
5. Finance. Bringing in enough money to keep going and make your effort worthwhile.