COMM 100 Chapter Notes - Chapter 1: Nonprofit Organization, Cash Flow, Offshoring
Document Summary
Business: any activity that seeks to provide goods and services to others while operating at a profit. Profit: the amount a business earns above and beyond what it spends for salaries and other expenses. Entrepreneur: a person who risks time and money to start and manage a business. Revenue: the total amount of money a business takes in during a given period by selling goods and services. Loss: a business"s expense are more than its revenues. Risk: the chance an entrepreneur takes of losing time and money on a business that may not prove profitable. Stakeholders: all of the people who stand to gain or lose by the policies and activities of a business. Businesses can also influence government policies through the activities and efforts of their associations, lobbyists, and trade unions. Offshoring( ): sourcing part of the purchased inputs outside of the country.
