COMM 103 Chapter Notes - Chapter 1: Cash Flow

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Document Summary

Business is a system of integrated actions which ensures an organization develops and grows a market for its goods/services, which creates wealth for its stakeholders. Aspects of a business foundation: commercial endeavors: refers to the markets in which the organization serves (and the products/services it offers). A combined understanding of supply/demand & cost/price determines how profitable a company will be: employee interaction: refers to value of employees. Leveraging production of goods/delivery of services skills enables value to be created: organizatonal efficiency & structure: reflects complexities of business activities (development of infrastructure, transaction processes which service marketplace) Assets + labour + capital + managerial acumen = business model. Assets: represent the infrastructure and resource base of the organization (buildings, process & infrastructure base i. e. e-commerce, bricks/mortar, raw materials, brand power) Capital: money needed to support asset-based expenditures, invest in development of new products, meet cash flow requirements, etc. Managerial acumen: knowledge, ability, foresight, etc. of organization"s key individuals.

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