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Lecture 10

ANTHRO 157 Lecture Notes - Lecture 10: Takers


Department
Anthropology
Course Code
ANTHRO 157
Professor
Smolter
Lecture
10

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"The greater the risks, the greater the potential for profit(or loss)"
Ex: Sony -> lost grounds and profits by not embracing new tech (flat TV&digital
music). Comp misjudged what market wanted and stayed with their techs, Apple
started iPod -> quickly grabbed shares of digital music market with iPods and
iTunes.
Not-for-Profit Organizations
Exists to achieve goals other than usual business goal of profit
(ex: charities, most hospitals, zoos, arts organization, etc) Government is largest
not-for-profit.
Factors of production: building blocks of business
Factors of production
1.
Natural resources - useful
inputs in their natural state
(farmland, forests, mineral/oil
deposit, water
ex : paper company uses wood pulp to
make paper, gas & electricity comp use
water, oil, coal to produce electricity.
Labor (human) resources - ppl
working
ex : restaurant cook
Capital (doesn't include
money)
ex : tools, machinery, equipment,
buildings use to produce g&s
Entrepreneurship - ppl who
combine the inputs of natural
resources, labor, cabital
ex : decision makers; not guaranteed a
profit -> considered risk takers.
(maybe) Knowledge -
combined talent and skills of
workforce
lots of automation/machinery taken jobs
away but tech has created MORE jobs
that require knowledge/cog skills that
machinery dont have.
1. What are the sectors of bus environment, and how do changes in them
influence business decisions?
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