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BUSI1800 Ch.1-7 Review.docx

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Department
Business
Course
BUSI 1800
Professor
All Professors
Semester
Winter

Description
CH1GoodsTangibleproductscarsfoodServiceIntangibleeducationhealthcareEntrepreneurpersonwhoriskstimeandmoneytostartandmanageabusinessLossexpensesaremorethanrevenueStandardoflivingtheamountofgoodsandservicespeoplecanbuywiththemoneytheyhaveQualityoflifethegeneralwellbeingofasocietyintermsofeducationhealthcarerewardsthataddothesatisfactionandjoythatgoodsandservicesprovideStakeholdersallthepeopleyoustandtogainorlosebythepoliciesandactivitiesofbusinessIncludeCustomersEmployeesFinancialInstitutionsbankcreditunionsInvestorsEnvironmentalistsGovernmentSuppliersDealsretailersSurroundingcommunityOffshoringSourcingpartofthepurchasesinputsoutsideofthecountryOutsourcingassigningvariousfunctionssuchasaccountingproductionsecuritymaintenanceandlegalworktooutsideorganizationsHelpswithcompetitionbutjobsmaybelostThe5factorsofproductionusedtocreatewealthLandLabourCapitalGoodsmachinesEntrepreneurshipKnowledgeTheBusinessEnvironmentFactorsthathelporhinderthedevelopmentofbusinessLegalEnvRestrictionsthatprovincialandfederallawsplaceeonbusinesswithrespecttotheconductoftheiractivitiesEncouragesbusinessthroughlowertaxationEconomicEnvlooksatIncomeexpendituresandresourcesthataffectthecostofrunningabusinessReviewresultsofconsumerspendingemploymentlevelsandproductivityCurrencyfluctuationsaffectexportsandimportsLowerCanadiandollarmakesexportstoUScheaperTechnologicalEnvChangingbusinesspracticesthewaythebuyandsellTechnologyinventionsorinnovationfromappliedscienceorengineeringresearchIncludephonescopierscomputerssocialnetworkssoftwareprogramsEtcEcommercethebuyingandsellingofGSovertheInternetB2CbusinesstoconsumerB2BbusinesstobusinessC2CexkajijiCompetitiveEnvComponentsofcompetitionentrypowerofbuyersandsellersexistingcompetitionsubstitutesCompaniescompetebyexceedingcustomerexpectationsEmpowermentmanagersrainfrontlineworkerstomakedecisionswithouttheneedtoconsultmanagersSocialEnvDemographystatisticalstudyofthehumanpopulationsizedensitycharacteristicssuchasageracegenderandincomePopulationshiftsaredictatinghowpeoplelifewheretheylivewhattheybuyandhowtheyspendtheirtimeBabyboomers19471966livinglongerimprovedmedicineandtechbetterheathhabitsBabyboomecho198095babyboomerschildrenNextfewdecadeslargeamountsofspecializedGSwillberequiresformiddleagedandelderlyCompaniesarehiringamorediversifiedworkforcetoservicethenewimmigrantpopulationCompaniesarestrongduetonewideasandnewwaysofthinkingGlobalEnvImportanttoalloverenvInfluencesdueto
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