REC101 Lecture Notes - Lecture 3: Making Money, Legal Personality, Power Law
Document Summary
They are motivated by profit ( making money, not like -> not for profit organization ) They design programs to tap consumer spending ( convince them to buy your product) Expected to contribute to the economic well-being of the community ( e. g job created, tax revenue generated ) Economic impact is regarded with greater importance than social impacts (e. g fitness opportunities ) Leisure products businesses: manufacturers & purveyors of leisure goods & equipment (e. g nike ) Leisure services businesses: providers of leisure programs & experiences ( e. g chucky cheese ) Business sponsors of leisure: sponsors of leisure events & products ( e. g tim horton ) Its primary function is the provision of retail products, entertainment, recreation programs for people in their home communities: facilitators, these types of commercial recreation business support the other three categories. Sole proprietorship one person owns a business and is legally responsible for its debts and legal obligations.