NOM COMPLET : SALEH KASASE JUSTIN

PROMOTION : BAC 3 ÉCONOMIE

1. The word "business" refers to any organization or entity engaged in commercial, industrial,
or professional activities with the aim of making a profit.

2. The main difference between for-profit and non-profit organizations lies in their primary
goals and how they use their profits. For-profit organizations aim to generate revenue and
profits for their owners or shareholders, while non-profit organizations focus on fulfilling a
social mission or providing a service without the primary goal of making a profit. For example, a
for-profit company like Apple sells products to make money for its shareholders, while a non-
profit organization like the Red Cross provides humanitarian aid without the goal of financial
gain.

3. Production refers to the process of creating goods or services by transforming inputs (such as
raw materials, labor, and capital) into outputs that can be sold to customers.

4. Just-in-Time inventory is a production strategy where companies only produce goods as they
are needed, reducing the need for excess inventory and storage costs. This approach helps
minimize waste and improve efficiency in the production process.

5. Marketing is the process of promoting and selling products or services to customers. It

involves market research, advertising, branding, pricing, distribution, and customer relationship
management to attract and retain customers.

6. Finance in business operations refers to managing the financial resources of a company,

including budgeting, investing, financial planning, and monitoring cash flow. It involves making
strategic decisions to maximize profits and ensure the financial health of the organization.

7. Human Resource Management (HRM) involves managing the people within an organization
to optimize their performance and achieve the company's objectives. This includes activities
such as recruiting, training, performance evaluation, compensation, benefits administration,
and employee relations. HRM plays a crucial role in ensuring that the organization has the right
talent and resources to succeed.