BU111 Lecture : Lecture #2-Business Intro -Course Model -Critical Success Factors
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BU111 Full Course Notes
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Lecture 2: online lab reg-thursday 7am, need iclicker for first lab, prep for lab: read what is a case (lab manual), joe mcbrine case , discuss case using format from. Defn: the sum total of all activities involved in the creation and distribution of goods and services for private profit. All activities can be primary functions--creation, (operations, production, other primary function) or. -distribution (marketing) 2 primary reasons why a business exists. Ancillary activities: secondary activities that dont create or distribute product, but need to exist anyways such as accounting, finance (getting money), hr (the people), i/t, legal, etc. Profit motive: makin money! (the whole point of having a business) The business 111/121 course model (page 6 of lab manual) What is a model: a representation of reality. 1. helps simplify our understanding of what would have been very complex,frames our thinking. 2. provides meaningful framework for analyzing and studying the complex phenomena.
