BUSS1001 Study Guide - Final Guide: Organizational Behavior, Business Process Management, Profit Motive
Document Summary
Business profit-seeking organisation that provides goods & services designed to satisfy (cid:272)usto(cid:373)e(cid:396)s" (cid:374)eeds. System for satisfying customers by transforming lower-value inputs into higher-value inputs. Competes to attract/satisfy consumers by accepting risks in pursuit of rewards. Revenue money brought in through sales. Competitive advantage aspect of a product/company that makes it more appealing to target customers. Positives offers valuable goods/service, provides employment, pays taxes, contributes to national growth/stability/security. Negatives generates pollution, creates wastes, creates health/safety risks, disrupting communities, causing financial instability. Business model concise description of how businesses intend to generate revenue. Not-for-profit organisations organisations that do not have a profit motive. Goods-producing businesses create value by making tangible goods. Service businesses create value by delivering intangible, inseparable, variable, perishable benefits to consumers. Business mindset view that business considers the environment & problems that must be overcome before delivering customer satisfaction. Market target customers, buying influences that shape behaviour, competitors. Social population trends, social values, relationship of society/business.
