Transcript Introduction to Objectives & Strategy

IB Business and
Management
1.1 Business Sectors: Primary,
Secondary, Tertiary, Quaternary Sectors
Learning Outcomes
• Explain the nature of business activity in each
sector (AO2)
• Analyse the impact of sectoral change on business
activity (AO2)
Four Business Sectors
• Primary Sector
• Secondary Sector
• Tertiary Sector
• Quaternary
• What do you already know about
them?
Video ….
• Just to clarify……. Watch the video
Primary Sector
• The primary sector of the economy extracts
or harvests products from the earth.
• Activities associated with the primary
sector include agriculture mining, forestry,
farming, grazing, hunting and gathering,
fishing, and quarrying
Secondary Sector
• The secondary sector of the economy
manufactures goods for customers
• Activities associated with the secondary
sector include metal working, automobile
production, textile production, chemical and
engineering industries, energy utilities,
engineering, breweries and bottlers,
construction, and shipbuilding
Tertiary Sector
• The tertiary sector of the economy is the service
industry. This sector provides services to the
general population and to businesses.
• Activities associated with this sector include retail
and wholesale, transportation and distribution,
entertainment restaurants, clerical services, media,
tourism, insurance, banking, healthcare, and law.
Quaternary Sector
• The quaternary sector consists of those industries
providing information services, such as computing,
ICT (information and communication technologies),
consultancy (offering advice to businesses) and
R&D (research, particularly in scientific fields).
• It is know as the knowledge-based sector of the
economy. The quaternary sector is sometimes
included with the tertiary sector, as they are both
service sectors.
Which business
Sector/Sectors?
Questions
Think about these 3 industry sectors
• How could we measure the size of them?
• How do you think the relative size of these sectors
compares from country to country?
Lets find out……..
Look at the data…..
• http://en.wikipedia.org/wiki/List_of_countries_by_G
DP_sector_composition
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Questions:
What facts can you find?
What conclusions can you draw?
Are there any figures that surprise you? Why?
What prediction would you make regarding figures
for the Philippines?
The business sectors of the
Philippines
• https://www.cia.gov/library/publications/the-worldfactbook/geos/rp.html
• What can explain the difference in % when the size
is measured by GDP and labour force?
Task
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Pick any country (everyone pick a different one)
Using the CIA world factbook
Create a presentation 3 slides long which shows…
1. A graph of the industry sectors by %GDP
2. A graph of the industry sectors by % Employment
3. Your analysis of the reasons behind the
comparative sizes of the different sectors
Business Sector Trends…..
• Lets specifically think about the UK economy…..
• Can you give reasons for why………
• The primary sector has decreased significantly in
the last 50 years
• The secondary sector has decreased significantly in
the last 50 years
• The tertiary sector has increased significantly in the
last 50 years?
Task – Question Sheet
• Answer the Business Sectors Question Sheet