Freedoms4

Unit 1

your-email@example.com (Freedoms4) — Mon, 01 Jan 0001 00:00:00 +0000

Date: April 6, 2026 #

Features and Nature of Business #

A) Economic Activity.
B) Continuous Activity.
C) Profit Motive.
D) Exchange of goods and services.
E) Customer Orientation.
F) Risk and Uncertainty.
G) Legal and Ethical Compliance.
H) Global.

Concept #

A) Value Creation.
B) Profit.
C) Social.
D) Organised.
E) Dynanic.

Scope #

A) Industry #

Primary Industry: Extraction of raw material (agriculture, mining).
Secondary Industry: Manufacturing.
Tertiary Industry: Service (banking, insurance, transport, delivery)
Quaternary Sector: Knowledge based services (IT, education/training)
Quinary Sector: Services of leading roles (Government services, NGOs)

B) Commerce #

Trade.
Auxiliaries to Trade.

C) Modern Dimensions of Business #

E-Business.
Green Business.
Social Business.
Global Business.

Business as a System #

A) Interdependance.
B) Input-Process-Output Model.
C) Open System.
D) Dynamic Nature.

Unit 1

your-email@example.com (Freedoms4) — Mon, 01 Jan 0001 00:00:00 +0000

Date: April 9, 2026 #

Course Objectives #

A) Develop analytical skills for interpreting consumer decision-making and market behaviour using economic tools.
B) Examine cost and revenue structures of firms.

Unit 1

your-email@example.com (Freedoms4) — Mon, 01 Jan 0001 00:00:00 +0000

Date: April 5, 2026 #

Characteristics of Management #

A) Goal Oriented.
B) Pervasive.
C) Multidimentional:
(i) Management of People.
(ii) Management of Operations.
D) Continuous.
E) Dynamic.
F) Group Activity.
G) Intangible.

Functions of Management #

A) Planning.
B) Organising.
C) Staffing.
D) Directing.
E) Controlling.

A) Planning #

Determine the goals or mission of the organisation.
Forecast future conditions.
Select the best course of action.
Formulate policies, procedures, budgets.

B) Organising #

Identify and analyse activities required to be operated on.
Group similar activities.
Assign duties to individuals.
Delegate authority and responsibility to the individuals in managerial roles.
Establish and announce clear authority relationships to ensure coordination and control.

C) Staffing #

Recruitment and selection.
Training.
Performance appraisal.

D) Directing #

Leadership and supervision.
Motivation.
Communication.

E) Controlling #

Establish performance standards.
Measure performance.
Compare performance with the standards.
Identify reasons for deviations.
Implement corrective actions.
Use feedback to evaluate performance improvement.

Significance of Management #

A) Optimum unilization of resources.
B) Minimisation of costs.
C) Achievement of group goals.
D) Organisational stability.

What is Education?

your-email@example.com (Freedoms4) — Sun, 01 Mar 2026 18:11:14 +0000

What is Education? #

Education simply means “learning”. It’s a natural process.

Ratio of components in Education: #

50% Knowledge/Understanding, 30% Skills, 20% Experience.

Education vs Academics: #

Education and Academics are not the same thing. Academics is Education based of a curriculum and an institution. Plato discovered the word while describing his school of philosophy.

Academics system has evolved with time and got worst. Let’s see what the system has become nowadays: #

Wrong ratio of knowledge, skill, experience (knowledge takes about 90%).
Generalised curriculum for all students.

Extra bad: #

Goals are only bound to exams/grades, degree or certifications (year 1088), then getting jobs.
Unhealthy pressure and competition for students.
Money game.
Politics.

Education as a concept/implementation/system is good. Academics is good only as a concept. It’s implementation and system is always the worst and corrupted.

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Contact

your-email@example.com (Freedoms4) — Mon, 01 Jan 0001 00:00:00 +0000

Admin: hyzen

Contacts #

Email and XMPP: hyzen@freedoms4.org

IRC/Liberachat: hyzen, #freedoms4

Follow on #

Mastodon: hyzen@mastodon.social

Lemmy: hyzen@lemmy.today

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your-email@example.com (Freedoms4) — Mon, 01 Jan 0001 00:00:00 +0000

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your-email@example.com (Freedoms4) — Mon, 01 Jan 0001 00:00:00 +0000

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