BUSI 1800 Chapter Notes - Chapter 1: Canadian Business, Insourcing, Business Process
23 Jan 2018
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This helps the company to be more competitive but may impact the local community because jobs may be lost: insourcing: assigning various functions that could to an outside organization to employees in the company. Workers receive bene ts such as health insurance and paid vacation. On the other hand, entrepreneurs assume all the risk of starting and running a business. There might be great nancial rewards but there might also be great fails. The ve factors of production: land, labour, capital, knowledge, entrepreneurship. Today"s dynamic business environment: the economic environment. Demography: the statistical study of the human population with regard to its size, density, and other characteristics such as age, race, gender, and income. Demographic shifts include: an aging population, changes in the workforce, diversity due to growing numbers of immigrants. This is important to all other environmental in uences due to; New jobs are created in both manufacturing and service industries. Rapid changes create a need for continuous learning.
