[MGMT 1P93] - Final Exam Guide - Comprehensive Notes fot the exam (39 pages long!)

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Any activity that provides goods and services in an effort to earn profit. Still operates like a business even through their goal is different. The financial reward that comes from starting and running a business. The money that a business earns in sales (or revenue), minus expenses. People who risk, money, and other resources to start and manage a business. Makers market (small entrepreneurs) make big money. Businesses drives up the standard of living which in turn, contributes to the quality of life. Was able to successfully adapt to change in business. Failed to adapt to change in the business and consumer world. Business now: change is the only constant lecture 1 notes- january 11, 2017. In the last decade, the players, what consumers want and how we buy has changed. Companies are being launched and growing faster than ever. Mature firms are being merged, acquired, and dissolved. 98% of employees are working at small businesses.

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