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Lecture 9

ANTHRO 157 Lecture Notes - Lecture 9: High Standard Manufacturing Company

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Business - organization striving for profit by prov goods/services
Goods - tangible items (ex laptops)
Services - intangible (cant be held/touched/stored)
Not for profit org - achieve goal other than business goal of profit
Organizations needs inputs in resources called factors of production
1. Natural resources
2. Labor (human) resources
3. Capital
4. Entrepreneurship
External business environment
1. Economic
2. Political/legal
3. Demographic
4. Social
5. Competitive
6. Global
7. Technological
** each sector creates unique challenges and opportunities for businesses **
Business - organization for profit by providing goods&services.
Goods - tangible items by businesses (ex laptops)
Services - intangible offering by businesses -> can't be held, touched, stored
Physicians, lawyers, hairstylists, carwash, airlines
Businesses create goods & services that are the basis of our standard of living
Standard of living is measured by output of goods & services ppl can buy
with $$ they have
US has high standard of living -> other countries have higher
wages BUT standard of living isn't higher bc prices are SO much
higher. [Same $$ can buy less in those countries]
Businesses play key role in determining quality of life by providing
jobs/goods/services to society
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