INTB 1202 Chapter Notes - Chapter 1: Financial Statement
14 Sep 2016
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Document Summary
Business- any activity that provides goods and services to a consumer with the intention of making a profit. Non profit organization- an organization that has a purpose other than returning profit to owners. Most of the business principles also apply to non-profits. Every business must have one or more owners. Their primary is to invest money in the business. The owners are the ones that usually find the start if the business. They also hire employees to work for the company. The owners and consumers are dependant on the customers. Managers are responsible for the work performance of other people. Managing involves planning for, organizing, staffing, directing and controlling the company"s resources. All companies must convert resources into goods or services. Companies such as apple use tangible products (iphones, macs etc. ) Operations manager- the person who oversees the process of converting resources into goods and services.
