1. 6 Areas of Business
Business 10
Weidmann

2. Research and Development (R&D)
Companies look to
Create new products (innovation)
Adjust/ Change existing products (Regenerate)

3. Marketing Research what the customer wants
Increase demand for the product or service through Advertising
Get feedback from the customer on the product
Pricing

4. Economics Understanding how supply and demand effects :
Your business (Micro)
The economy/ market (Macro)

5. Human Resources Hiring and Firing Creating an effective team
Selecting Management*
Selecting Reliable Employees

6. Sales Networking with clients
Selling products or services to customers
Maintaining relationships with suppliers

7. Finance/ Accounting Money management Pricing Determining income
Paying employees/ suppliers

8. Which Area of Business is the MOST Important and WHY???
Discuss with a partner, then present to the class.