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Principles of business

Lecture 2 Modern meaning of business . Principles of business . Tendency of disintegration (competition) Tendency of integration (need to collaborate for common income) Businessman work for himself and same time work for society (private for public)

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Principles of business

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  1. Lecture 2 Modern meaning of business Principles of business

  2. Tendency of disintegration (competition) Tendency of integration (need to collaborate for common income) Businessman work for himself and same time work for society (private for public) Businessman cant work for society without working for himself Business: private and public

  3. Entrepreneurs Consumers Employee Government officials Subjects of business

  4. Work by themselves Work by own property (capital) Work for own risk Work for own responsibility Can be individual and collective Entrepreneurs

  5. Manufacturing Commerce Commercial Mediation Define manufacturers, commercial agents and mediators in tourism industry // hospitality Types of entrepreneurship

  6. Consumers and customers // buyers? Consumers needs? Consumers demand? Factors of demand Marketing? Property for consuming goods and services Consumers

  7. Work for owner of manufacture (capital) They are owner of own labor force. Give labor in rent? Work for salary (wages) Work without any risk and responsibility Employees

  8. Government can have own property and run business Government can be a big consumer Government can regulate business (by law, taxes, credits, investments and so on) Government officials

  9. Law – is mandatory rules set by Government Law regulates business as a part of social life Law and morality? Pyramid of law Civil law Crime law Business law International business (trade) law Business and law

  10. Using internet identify • Illegal kinds of business in Thailand • Some violation of law in Thai business • Illegal kinds of business in Thai tourism and hospitality Case study 2

  11. Developed market: supply is higher than demand, competition is high • Sectors of market: • Market of means for manufacturing • Consumers market • Labor force market • Market of information • Market of services • IP market • Financial market Business and market

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