SB 101 Lecture Notes - Lecture 2: Profit Motive, Social Environment, Human Resources

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Organizations that provide goods and services without having a profit motive, these are also called nonprofit organizations. Companies that create value by making things, most of which are tangible. Companies that create value by performing activities that deliver some benefit to customers. A view of business that considers the myriad decisions that must be made and the many problems that must be overcome before companies can deliver the products that satisfy customer needs. 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.

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