COMMERCE 1E03 Lecture Notes - Lecture 1: Retail, 1978 Atlantic Hurricane Season, Canadian Airlines
13 Apr 2018
School
Department
Course
Professor
Document Summary
Success in business is finding a need for products (goods, services, and/or ideas) and 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 ways to succeed in business include (1) starting your own company or (2) working your way to the top within a company. To decide which is the best choice for you, you have to calculate the risks and the potential rewards of each decision. Products that are purchased for personal use: e. g. , you purchase a book or a shirt for yourself. For use in the manufacture of other products or. For daily operations: e. g. , office manager purchases paper for the printer, or car manufacturer buys tires.
