BUS 150 Lecture 1: Business Chapter 1 Part II – Business in Action
Document Summary
Business chapter 1 part ii business in action (bovee) book. Internal and external groups affected by a company"s decisions and activities. Forces resulting from the practical application of science to innovations, products, and processes. Those that fundamentally change the nature of an industry. Can be powerful enough to create or destroy entire companies. The conditions and forces that affect the cost and availability of goods, services, and labor and thereby shape the behavior of buyers and sellers. Laws and regulations at local, state, national, and even international levels. A company"s target customers, the buying influences that shape the behavior of those customers, and competitors that market similar products to those customers. Major areas in a business enterprise: (r&d) - research and development. Functional area responsible for conceiving and designing new products (it) - information technology. Systems that promote communication and information usage through the company or that allow companies to offer new services to their customers.
