BA 3301 Lecture Notes - Lecture 23: Insourcing, Outsourcing, Commercial Paper
Document Summary
Chapter 1- connecing to the dynamic business environment. Business- acivity that seeks to provide goods and services to others while operaing for proit. Business contributes to taxes * contributes to standard of living. Stakeholders- stand to gain/loose by policies/aciviies of business. Ex: customers, employees, stockholders- hard to balance all. Outsourcing- contracing with other companies to do work. Social entrepreneurs- use business principles to start not for proits and address social issues. Gov don"t interfere with free exchange of good+services to help business, tradable currency, businesspeople write contracts-less risks, min corrupion. Ecommerce- business to consumer or business to business. Empowerment- giving frontline workers responsibility, authority, freedom, training, and equipment to respond to customers" requests. People 65-74 age are richest business come with. But ss is bad- not enough workers to support reiree, spent money in bank (gov) Globalizaion (world trade)- grown because of eicient distribuion systems and communicaion- has improved living standards. Producivity/eiciency has led to job loss (ex. farming)
