RSM100Y1 Lecture : Lecture 3
Document Summary
Agenda for today: connection with last week, role of business in society, wealth creation (the diamond) Businesses have a responsibility towards wealth creation (combining materials, ideas, labour, and technology so that the output can be sold for more than costs. This profit brings wealth to people and society involved in. Wealth creation production. ) e. g. i like to bake bread take a lot of time in doing so. A bakery bakes the same bread and sells it for . 50 or. Hence, i ll save my time and buy it. In doing my money contributes towards wealth creation they pay their employees and their taxes. Who will help? y large corporations may spin off smaller entrepreneurial groups (intrapreneuring) companies try to encourage employees to be innovative and if they have good ideas the company might back it up. Celestica (don mills & eglinton) and ibm. y.
