MGTA02H3 Chapter Notes - Chapter 1: Gross Domestic Product, Environment And Climate Change Canada, Canadian Business

• School: UTSC
• Department: Management
• Course: MGTA02H3
• Professor: Chris Bovaird

Document Summary

Mgta02h3 lecture 1 managing and managers. Lecture 1 will cover the preface and chapter 1 of the managing the canadian business textbook. Business an organized effort to provide things that people need or want and are willing to pay for, in order for the business to make a profit. It(cid:859)s a(cid:374) o(cid:396)ga(cid:374)izatio(cid:374) that seeks to ea(cid:396)(cid:374) p(cid:396)ofits (cid:271)(cid:455) p(cid:396)o(cid:448)idi(cid:374)g goods o(cid:396) se(cid:396)(cid:448)i(cid:272)es. That (cid:271)ei(cid:374)g said, not all organizations are businesses: hospitals, universities, and churches are not businesses. They provide services, but are not intended for business: they use a combination of fundamental inputs, called factors of production, under the guiding hand of an entrepreneur. Canada has one of the largest economies in the world, as measured by gross domestic product. We are among the wealthiest people in the world, as measured by gross domestic product per capita. We do well in our ability to encourage people to participate in the labour market, find employment, and generate prosperity1.