{"id":3720,"date":"2023-10-05T18:29:32","date_gmt":"2023-10-05T18:29:32","guid":{"rendered":"http:\/\/localhost\/ecole9ja\/?p=3720"},"modified":"2023-10-05T18:35:23","modified_gmt":"2023-10-05T18:35:23","slug":"week-1-ss3-first-term-commerce-notes","status":"publish","type":"post","link":"https:\/\/ecolebooks.com\/nigeria\/posts\/week-1-ss3-first-term-commerce-notes\/","title":{"rendered":"Week 1 – SS3 First Term Commerce Notes"},"content":{"rendered":"

FIRST TERM E-LEARNING NOTE
\n<\/strong>SUBJECT: COMMERCE\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0CLASS: SS 3
\n<\/strong>
\n\u00a0SCHEME OF WORK
\n<\/strong>
\n\u00a0WEEK\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0TOPIC
\n<\/strong>1\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0Introduction to Business Management
\n2\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0Business Management
\n3\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0Departments in a Business Organization, Social Responsibilities of a Business
\n4\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0Structure of a Business
\n5\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0Authority: Span of Control
\n6\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0Nationalization
\n7\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0Indigenization
\n8\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0Privatization
\n9-10\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0Economic Groupings in West Africa<\/p>\n

\u00a0
\n\u00a0WEEK ONE
\n<\/strong>INTRODUCTION TO BUSINESS MANAGEMENT
\n<\/strong>CONTENT
\n<\/strong><\/p>\n

    \n
  1. Meaning of Business, Business Management\n<\/li>\n
  2. Resources of Business\n<\/li>\n
  3. Objectives of Business\n<\/li>\n
  4. Functions of Management\n<\/li>\n<\/ol>\n

    Business can be defined as the sum of all activities involved in the creation and distribution of goods and services for profit.\u00a0\u00a0\u00a0\u00a0
    \nBusiness management is the act of planning, organizing, directing and controlling business resources in order to attain some set objectives.<\/p>\n

    \u00a0CLASSES OF BUSINESS
    \n<\/strong><\/p>\n

      \n
    1. Primary\/Extractive Business\n<\/li>\n
    2. Processing\/Conversion Business\n<\/li>\n
    3. Distributive\/Commercial Business\n<\/li>\n
    4. Services Business \u2013 Concerned with the provision or marketing of intangible benefits to ultimate users such as banking insurance etc.\n<\/li>\n<\/ol>\n

      \u00a0EVALUATION
      \n<\/strong><\/p>\n

        \n
      1. Define the following terms (a) Business (b) Businessman\n<\/li>\n
      2. Mention four importance of business to the individual or society\n<\/li>\n<\/ol>\n

        \u00a0RESOURCES OF BUSINESS
        \n<\/strong><\/p>\n

          \n
        1. Money: This includes all the funds available to the business such as cash, shares, working capital etc.\n<\/li>\n
        2. Materials: This includes tools, machinery, equipment and raw materials required to operate the business.\n<\/li>\n
        3. Management: This is the resource that plans, directs, controls and organizes other resources for operations to take place.\n<\/li>\n
        4. Opportunities: These are identified chances calling for acquisition, creation, preservation or distribution of saleable values to customers.\n<\/li>\n<\/ol>\n

          \u00a0OBJECTIVES OF BUSINESS
          \n<\/strong>Objectives are the ends towards which an activity is aimed. The objectives of a firm are the purpose for which the firm is in business. Therefore, it is a statement of where a business organization wants to be.<\/p>\n

          \u00a0The Objectives of Business are:<\/p>\n

            \n
          1. To maximize profits\n<\/li>\n
          2. To minimize losses\n<\/li>\n
          3. To stay solvent\n<\/li>\n
          4. To produce goods and render services.\n<\/li>\n
          5. To provide employment opportunities\n<\/li>\n
          6. To protect the interest of its workers\n<\/li>\n
          7. To achieve, maintain or increase a particular market share\n<\/li>\n
          8. Social objectives e.g. payment of taxes\n<\/li>\n<\/ol>\n

            \u00a0EVALUATION
            \n<\/strong><\/p>\n

              \n
            1. Define Management\n<\/li>\n
            2. State five objectives of a business.\n<\/li>\n<\/ol>\n

              \u00a0READING ASSIGNMENT
              \n<\/strong>Essential Commerce for senior secondary schools by O.A. Longe Pages 231-239<\/p>\n

              \u00a0WEEKEND ASSIGNMENT
              \n<\/strong><\/p>\n

                \n
              1. Which of the following is not a business resource?\n<\/li>\n<\/ol>\n

                (a) Man (b) Materials (c) Markets (d) Machines<\/p>\n

                  \n
                1. Which of the following is the most important business resource?\n<\/li>\n<\/ol>\n

                  \u00a0\u00a0\u00a0\u00a0(a) Money\u00a0\u00a0\u00a0\u00a0(b) Management (c) Materials (d) Man power<\/p>\n

                    \n
                  1. \n
                    Which of the following clearly defines business\n<\/div>\n

                    (a) The process of planning, co-ordinating, organizing and controlling (b) The act of buying and selling (c) Sole proprietorship, partnership and public limited companies (d) Any production activity undertaken for profit motive\n<\/li>\n

                  2. Which of the following is the primary objective of business? (a) Maximization of sales (b) Maximization of output (c) Maximization of profit (d) Maximization of costs.\n<\/li>\n
                  3. In which class of business would doctors, teachers and entertainers be grouped\n<\/li>\n<\/ol>\n

                    (a) extractive (b) services (c) processing\/conversion (d) commercial<\/p>\n

                    \u00a0THEORY
                    \n<\/strong><\/p>\n

                      \n
                    1. List two objectives of a firm (business organization).\n<\/li>\n
                    2. Who decides or fixes these objectives in a business organization.\n<\/li>\n<\/ol>\n


                      \n\t\t\t<\/strong>\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"

                      FIRST TERM E-LEARNING NOTE SUBJECT: COMMERCE\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0CLASS: SS 3 \u00a0SCHEME OF WORK \u00a0WEEK\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0TOPIC 1\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0Introduction to Business…<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1,290],"tags":[],"class_list":["post-3720","post","type-post","status-publish","format-standard","hentry","category-posts","category-first-term-ss3-commerce"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/ecolebooks.com\/nigeria\/wp-json\/wp\/v2\/posts\/3720","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ecolebooks.com\/nigeria\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ecolebooks.com\/nigeria\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ecolebooks.com\/nigeria\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ecolebooks.com\/nigeria\/wp-json\/wp\/v2\/comments?post=3720"}],"version-history":[{"count":1,"href":"https:\/\/ecolebooks.com\/nigeria\/wp-json\/wp\/v2\/posts\/3720\/revisions"}],"predecessor-version":[{"id":3721,"href":"https:\/\/ecolebooks.com\/nigeria\/wp-json\/wp\/v2\/posts\/3720\/revisions\/3721"}],"wp:attachment":[{"href":"https:\/\/ecolebooks.com\/nigeria\/wp-json\/wp\/v2\/media?parent=3720"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ecolebooks.com\/nigeria\/wp-json\/wp\/v2\/categories?post=3720"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ecolebooks.com\/nigeria\/wp-json\/wp\/v2\/tags?post=3720"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}