MGTA01H3 Chapter Notes - Chapter 1: Canadian Transport Commission, Izzy Asper, Jim Kimsey
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MGTA01H3 Full Course Notes
Verified Note
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Document Summary
Business: an organization that seeks to earn profits by providing goods and services. Expenses: the money a business spends producing its good and services and generally running the business. Revenues: the money a business earns selling its product and services. Canada"s economic system businesses exist to earn profits for owners who are free to set them up. Consumers have freedom of choice: business must take into account what consumers need. Business wont survive if there is no demand or no demand in a certain location. if you identify unmet consumer needs or ways to satisfy consumers. someone who can stop an opportunity and develop a good plan for capitalizing it. Healthy business climate contributes directly to our quality of life and standard of living. Businesses support charities and provide community leadership. Major determinant of how organizations operate kind of economic system.
