COMMERCE 1AA3 Lecture Notes - Lecture 1: Retail, 1978 Atlantic Hurricane Season, Canadian Airlines
12 Jan 2019
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Document Summary
Business fundamentals filling that need: a business is any activity that seeks to provide products to others while operating at a profit, since not all businesses make a profit, starting a business can be risky. Business principles are used in for-profit, non-profit/not-for-profit, and government agencies where oftentimes, goals are other than making a profit for their owners or organizers. Two markets: consumer market (business to consumer / b2c) Products that are purchased for personal use: e. g. , you purchase a book or a shirt for yourself. Business market (business to business / b2b) For use in the manufacture of other products or. For daily operations: e. g. , office manager purchases paper for the printer, a business can sell to both types of markets. Defined as all the people who stand to gain or lose by the policies and activities of a business.
