Today, due to Can Kaya’s absence, our class was held in 321 F, the two business and management classes together. It didn’t make quite a difference though because not a lot of people talked anyway.
Mr. Sen started by reminding us what SWOT stands for. As I already mentioned in my previous posts, we do 7s and steeple analyses in order to determine Swot that later affects a businesses strategy. You can check if your business has achieved its goals by revising(going back to) your strategy and seeing if you have been able to achieve what you have planned.
There are two types of businesses. Some businesses try to monopolize the market (these are financially strong) others try to act together.
Also there are different types of markets. Monopoly is a market where there is only one supplier. Also sometimes there are a lot of different sellers and buyers, this is called a competitive market . When there are a lot of buyers but a few markets ,it is called a oligopoly.
Mr. Sen also pointed out the point that when competition occurres, companies dont reduce their prices and this is a misconcemption of most beginning business students.
Below you may see the questions that occurred to me and my notes on our new topic:
Who regulates the market?
How do we distinct the public and private sector?
Pubic sector: businesses in this organization are owned by the government.
Private sector: individually owned businesses. (can also be a institution or a corporation.
Institutions or corporations are usually found in large businesses. For example Banks, shipping companies, airlines companies are owned by people called share holders.
Also we must nor forget that there are also corporations in public sector.
Privatization is when the gouvernments sells some of its shares.
Large corporations are owned by other large companies.
Proprietorship or sole proprietorship. They are the same thing. These terms mean when a business is owned by only one person.
Towards the end of the lesson, We did a short case study and I noted some important facts:
Public sector organizations are usually burocratic
If you want to make an impact as an individual it is rather hard and this is what sometimes causes partnership.
(seed capital) because it is meant to act like a seed that grows. Also when this metaphor is further examined we can see that just like for a seed, the environment and the “soil” in which a business is “ planted” also matters.
You expect the owner to put into money and then go to sleep : is called a sleeping partner: when one just puts the money and then ‘goes to sleep”
Equivocated profits come from the business its self. The stupid things to do with profits take it and use it their selves. Then there is no opportunity for the business to grow. The sensible thing to do is keep some of the profit for yourself but invest rest of It to the business.
Public good : national security is a public good.
As opposed to a private good, when you consume a private good there is less available for another person to consume. This does not happen with public goods.
For example your enjoyment of the beauty of a certain city that was decorated doesn’t affect other peoples enjoyment of the same beauty.
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