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MGTA03 - Lecture 1.docx

2 Pages

Management (MGT)
Course Code
Chris Bovaird

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Introduction to Management Lecture 1 y Begin to read chapter 1 for this week Understanding the Canadian Business SystemPurpose of ChapterLecture y Set the scene y Provide basic definitions y Explain a few key theories Main Points of Todays Lecturey Definition of business y Profit and loss y Factors of Production y Economic SystemsManagementstudies how to run a business What is a Business y OrganizationOrganized effort y to make or sell somethingy to sell to customersy who need or want somethingy to make a profit y example anything can be a business from a pizza owner to a lemonade stand refer back to definition of business y Money that comes in revenues or sales y Money that comes out expenses or costsProfity Revenue salesExpens
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