GMGT 1010 Lecture Notes - Lecture 2: High Standard Manufacturing Company, Offshoring, Outsourcing

• School: University of Manitoba
• Department: General Management
• Course: GMGT 1010
• Professor: Brock V.Cordes

Document Summary

The wealth businesses generate and the taxes they pay help everyone in their communities. Standard of living: the amount of goods and services people can buy with the money they have. Canada has one of the highest standards of living in the world. Right level of taxes and regulations is important in making a country or city prosperous. Canada enjoys a high standard of living partly because of the wealth created by its businesses. Quality of life: the general well-being of a society in terms of its political freedom, natural environment, education, health care, safety, amount of leisure, and rewards that add to the satisfaction and joy that other goods and services provide. Maintaining a high quality of life requires the combined efforts of businesses, non- profit organizations, and government agencies. Working to build a higher standard of living may lower the quality of life if it means less time with family or more stress.