Class Notes (836,210)
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MGTA01H3 (348)
Lecture 2

Lecture 2 Notes

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Department
Management (MGT)
Course
MGTA01H3
Professor
Chris Bovaird
Semester
Fall

Description
Huda MahmoodstSeptember 21 2010Lecture 2MGTA03Review of Lecture 1A business is an organization its an organized effortCustomers People who are willing to payRevenuesSales Money that comes into a business because it is successfulExpensesCosts Money that goes out of a businessProfit is the difference between the money that comes in revenues and the money that goes out expensesNot all organizations are profitable Hospitals and churches are examplesorganizations These are nonprofit organizationsLossmore money goes out of the business than comes inLecture 2In study of business we look at hard skillshard techniques about how to manage a business well It is more focused on how to do a jobThe study of economics tends to be more big picture its more the
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