Class Notes (839,081)
Canada (511,183)
MGTA01H3 (348)
Lecture

MGTA03 - Lecture 1.docx

2 Pages
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Department
Management (MGT)
Course Code
MGTA01H3
Professor
Chris Bovaird

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Description
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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