[MGMT 200] - Final Exam Guide - Everything you need to know! (45 pages long)
Document Summary
Business is defined as the collection of private, commercially oriented organizations that range in size from small businesses to large corporations. We tend to usually use or reference big corporations when talking about issues because they are more open to the public eye and therefore easier to scrutinize. Some industries are more conducive to the creation of visible, controversial social problems. We should not take our attention away from smaller businesses, in fact many problems today arise from small businesses. Society may be defined as a community, nation or a board of people who have or share the same interests, ideas, values and activities. Macro environment is the total societal context in which the organization resides. The macro environment is composed of 4 segments: The social environment: this type of environment focuses on demographics, lifestyles and social values of society. The economic environment: focuses on the nature and direction of the economy in which the business operates.
