MGMT 1P93 Lecture Notes - Lecture 1: Capitalism, Startup Company
28 Sep 2016
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Document Summary
In the last decade, the players, what consumers want, and how we buy, has changed. Companies are being launched and growing faster than ever. Mature firms are being merged, acquired, and dissolved. Business: any activity that provides goods and services in an effort to earn profit. Not for profit: focuses on causes, not profit; fundamentally wants to contribute to the community, versus financial gain. Canada"s 163,000 non for profits contribute more than 80 billion to the economy. Entrepreneurs: people who risk time, money, and other resources to start or manage a business. Lo4: factors of production: the building blocks of the economy. Natural resources: materials or substances such as minerals, forests, water, and fertile land that occur in nature and can be used for economic gain. Capital: wealth in the form of money or other assets owned by a person or organization or available or contributed for a particular purpose such as starting a company or investing.
