BUS399 Study Guide - Final Guide: Profit Motive, Change Management, Corporate Social Responsibility
25 Jul 2018
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Understanding what businesses do: a business is any profit seeking organization that provides god and services designed to satisfy customer"s needs, businesses add value by transforming lower-value inputs to higher value outputs. It also indicates how the business is going to realize profit. Service businesses create value by performing activities that deliver some benefit to the customer. Many businesses are both: goods producing businesses are often capital-intensive businesses where the capital needed to compete in these industries is a barrier to entry. Recognizing the multiple environments of business: each company operates within a number of interrelated environments that effect and are affected by business, creating both opportunities and restraints. Exploring careers in business: operations manager, human resources specialist, information technology manager, marketing specialist, sales professional, accountant, financial manager. Ethics in contemporary business: ethics are the principles and standards of moral behavior that are accepted by society as right versus wrong.
