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1) Business is an organization or economic system where goods and services are exchanged for one another or for money. Every business requires some form of investment and enough customers to whom its output can be sold on a consistent basis in order to make a profit. Businesses can be privately owned, not-for-profit or state-owned.

2) We need to learn business because it is a field of study that is very practical. It is the study of applying ideas to create or add value to a product or service in order to generate a profit. Business majors learn how to research information using quantitive skills, and then develop ideas based on that information to solve problems. Business also involves people who are customers and employees so communication and interpersonal skills are vitally important as well.

3) The organization i chose is Tealive. Bobba today which is basically just milk, tea, and black pearls is very famous these days. Before changing their name to Tealive the organizations name was Chatime. A malaysian entreprenuer brought back the drink from Taiwan. Today Tealive has the most branches in the bubble tea industry. Tealive is considered the father to all bobba companies these days, introducing nearly 30 different types of drinks, Tealive is a great delicacy.

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Topic 1: Discussion Questions

1. What is business to you?
In my opinion, it's hard to "box" of business into a single purpose. At its highest level, it's about making both positive and negative changes for the world. While at the base level, it's all about generating profits. In simple and classic way of defining it, a business is an organisation where people work together. In a business, people work to make and sell products or services in order to fulfil the demand of consumers (which creates a win-win situation for both sellers and consumers.)

2. In your opinion, why do we need to study business?
In my opinion, studying business is an interesting way to give ourselves a broad view of how businesses really work. It includes how businesses are formed, how entrepreneurs make decisions, what are the motivations in the works of a business and so forth. Overall, studying business gives us an enriched insight about the operations of businesses from all over the world, particularly giant companies such as Amazon, Dell, Apple and more.
From consumer point of view, it is also important to study business as we are able to learn our rights as a consumer hence protecting ourselves from the unfair practices of some businesses and to address our grievances should there be any dissatisfaction.

3. Choose an organisation from the category and briefly explain the business.
The organisation that I have choose is Cotton On Group. Cotton on was founded in 1991 with its first store being opened in Geelong, Australia. It is known for its fast fashion clothing for men, women, teenagers and children. It has almost 1500 stores in 12 countries and employs 17000 team members in Australia and internationally. The company was established by Nigel Austin in Geelong, at the time it only sold women's clothing. Since January 2006, it had expanded with Cotton On Body and Cotton On Kids in 2007. It expanded to Typo (gift and stationery shop) and Rubi (shoe shop) in 2008. By 2013, Cotton On acquired Australian fast-fashion brand Supre and plans to expand the brand internationally. Cotton on also have launched Cotton On Foundation was launched in 2007, with a mission to develop 20,000 educational places by 2020.               -Mas Izzati Hanis

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Discussion Questions 1

1.       What is business to you?

Ans: For me, business is a never-ending process, where goods & services are exchanged for one another or for money. It’s an organization or an economic system which requires some form of investment and enough customers to whom its output can be sold on a consistent basis to make a profit. Businesses can be privately owned or owned by the government.

2.       In your opinion, why do we need to study business?

Ans: In my opinion, we need to study business because business activities invoke the daily lives of people as they work, spend, save, invest, and travel. Business has a significant effect on both the standard of living and the environment in which we are living. At some point of our lives, we will encounter the world of business hence we must be prepared to engage in business activity with confidence, by understanding how it functions and the role business plays in our society.

3.       Choose an organization from the category and briefly explain the business.

Ans: The organization I chose is Nike. It is an American multinational corporation that is engaged in the design, development, and manufacturing, and worldwide marketing and sales of footwear, apparel, equipment, accessories and services. It is the worlds largest supplier of athletic shoes and apparel and a major manufacturer of sports equipment, with revenue more than US$ 24.1 billion its first year. In addition to manufacturing sportswear and equipment, the company operates retail stores under the Nike town name. Nike sponsors many high-profile athletes and sports teams around the world, with the highly recognized trademarks of Just do it & Swoosh logo.

_ Maha

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Topic 1 Discussion Questions

1.    What is business to you?

Business, to put it simply, is an organisation that can be privately owned, not-for-profit or government owned that provides goods and services in exchange for money.

2.    In your opinion, why do we need to study business?

As a consumer in the business world, I personally think it is important to study business so we could establish rights as consumer knowledge of business process, inputs and methods is necessary. It is essential for consumers to be well informed. Studying business will provide us with the knowledge and information we need about business operations and products to help us to become more aware as consumers.

3.    Choose an organization from the given category & and briefly introduce the business.

My chosen organization is Nestle. Nestle is the world’s current largest food and beverage manufacturer. It was founded by Henri Nestle in 1866. Headquartered in Switzerland, Nestle is present in 191 countries, including Malaysia. Serving this world for over a hundred and fifty years, it has differentiated itself through its high quality products. Malaysians have been enjoying Nestle’s products since 1912. A few of Nestle’s famous products are Milo, Maggi, Nescafe and Kitkat.

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To me, business is an organization where people produce goods and services to satisfy a person needs by gathering all the resources together. Every business requires some form of investment and enough customers to whom its output can be sold on a consistent basis in order to make a profit.

In my opinion, the reasons why is important to study business is because we can develop crucial communication skill because we may work along side students from around the world so my views and experience will be different. Furthermore, study business can unlock the entrepreneur inside you as well. Studying business will develop your entrepreneur real skills and enable you to test your ideas for your future business.Lastly, studying business will give you a good understanding of basic economic principles and how markets are affected by world events. This can help you make better investment decisions in the future.

The organization that I choose to explain is Nike incorporation. Nike incorporation is an American multinational corporation that is engaged in the designing , development, and manufacturing of athletic footwear.It is one of the world's largest suppliers of athletic shoes , clothes and a major manufacturer of sports equipment.Lastly, Nike is highly recognize of the trademarks " Just Do It". Nike ranked no. 89 in 2018 Fortune 500 list of the largest United States corporations by total revenue .      - Koh Yee Wenn

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Business is a process that enables a company or an organization to satisfy a customer's needs and wants while gaining profit.                                                                              In my opinion, we need to study business because it is important for us to understand how a business works in the real world. Besides that, it enables job vacancy for people who are ready to begin their business life. Other than that, studying business helps people to increase their innovative thinking and creativity to produce and advertise a certain product to sale it. Lastly, studying business could also help the ones in need by doing charity such as donating some of the company's profit to a certain organization.                                                                                                                                                                                                         The organization that I'll introduce is Apple Inc.  Apple Inc is an American multinational technology company headquartered in Cupertino, California, that designs, develops, and sells consumer electronics, computer software, and online services. It is considered one of the Big Four of technology along with Amazon, Google, and Facebook.                     - Teh Mei Xian

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Business is an organization or economic system where goods and services are exchanged for one another or for money. Every business requires some form of investment and enough customers to whom its output can be sold on a consistent basis in order to make a profit.

In my opinion, business study is very important because it helps us to gain knowledge about how to start a business or earn profit. These knowledge allow us to make better decision on our business. Other than that, it provide more jobs opportunity as business is a major force in the society nowadays. Besides that, business create new and useful inventions. Therefore, it change the quality of our lives.

The organization that I will be introducing is Amazon. Amazon.com was founded by Jeff Bezos on July 5, 1994. Amazon is an American multinational technology company based in Seattle, Washington that focuses e-commerce, cloud computing, and artificial intelligence. Amazon is the largest e-commerce marketplace and cloud computing platform in the world as measured by revenue and market capitalization. Amazon is the largest Internet company by revenue in the world and the second largest employer in the United Stated.

-Kenneth

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To me, business is an environment where people exchange goods or services in exchange for money on a daily basis.

In my opinion, business studies is important as it enhances our knowledge on the market which helps us to make wiser decisions on purchasing, investing etc. Especially when it comes to signing a contract, we will know the pros and cons, how much money will we make or lose if we have to knowledge about business.

The organization that I will be introducing is Alibaba. It was created by Jack Ma in China, Hangzhou in 1999. It is an ecommerce site where consumers can purchase daily products, clothing, furniture and many more. It was designed like e-bay but at a cheaper price. For instance, the products on Alibaba are cheaper compared to e-bay and so is the shipping. Alibaba has created many job opportunities as it is now one of the most famous ecommerce website apart from ZALORA, Shopee and Lazada. So far, they’ve opened up many opportunities for entrepreneurs who wants to sell products on their website and giving consumers the chance and privilege to shop wherever and whenever they want.  -Hannah

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TOPIC 1 --- DISCUSSION QUESTIONS

A business is an organization where people gather together to work on creating products such as goods and services to satisfy the need and wants of its customers. A business can earn a profit when customers are willing to purchase their products or spend money on the services that they offer.

In my opinion, we study business for knowledge purposes so that we won’t be swindled by people when it is our time to step into the working world. We get to learn how to earn a profit if we want to start a business in the future and also have an understanding of the pricing mechanism of the country’s economy. Besides that, business is the one that is producing goods and services to us. It improves the quality of our lives. This also applies to education as we no longer have to carry heavy textbooks to class when we have e-textbooks available. In addition, the business also creates job opportunities for fresh graduates or other people. To illustrate, when a CEO opens up a new branch of his business, automatically he has to hire employees to work for him. So, this results in more job opportunities for those who are unemployed. Moreover, by studying business, it helps to educate us on how to run a business without harming the environment because we need our environment to be free from pollution. Or else, we can’t have raw materials and we can’t produce some of the products. If we want to continue doing our business for a long period of time, we must put in extra effort to take care of the ecosystem before anything else so that we won't run out of resources which are essential for product production.

The organization that I will be introducing is "Microsoft Corporation". Microsoft Corporation is an American multinational technology organization. Microsoft generates revenue by developing, licensing, and supporting a wide range of software products and services, by designing and selling hardware, and by delivering relevant online advertising to a global customer audience. Its best-known software products are the Microsoft Windows line of operating systems, the Microsoft Office suite, and the Internet Explorer and Edge web browsers.