COMM 103 Study Guide - Comprehensive Final Guide: Value Proposition, Operations Management, Corporate Social Responsibility
1 Dec 2016
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Document Summary
A stockholder is any person, company, or organization that owns at least one share of a stock in a speci c company. Introduction to comm 103 and the study of busi- ness. Business is a system of integrated actions designed to ensure that an organiza- tion develops and grows a market for its goods and/or services and, in doing so, create organizational value (wealth) on behalf of its stakeholders. The key components of a business are technology application, product engi- neering and design, manufacturing and operations, marketing and sales, distri- bution, and service. How a business operates can initially be assessed against the commercial endeavours it undertakes, its employee interaction model, and its organizational e ciency and structure. Commercial endeavours is the markets the organization serves, the products and services it o ers, and the needs it professes to meet in the marketplace. A business"s commercial endeavours are determined by demand/supply relation- ships and competitors in the marketplace.
