MGTA01H3 Chapter Notes - Chapter 1: Shoppers Drug Mart, Profit Motive, Delivery (Commerce)
14
MGTA01H3 Full Course Notes
Verified Note
14 documents
Document Summary
Business is an organized effort to provide the things that people need and want, and are willing to pay for. A business exists in order to satisfy those customer needs, and also to make a profit with a defintion five characteristics common to all business: organized efforts. One or more people have to have an idea and has to put time, thought and effort into carrying out their idea. Businesses are created as the result of the time, effort and energy o the people who start them and run them: business provides things that people need and want. Definition stated that a business exists to provide the things that people need and want . Your business idea to provide tutorign is a response to need that you have identified. A business must provide something that people want, it must satisfy a need.
