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test 1 notes - POL 213 C Notes Chapter 1 What is business:...

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POL 213 C Notes Chapter 1 : What is business a company that provides goods and services to better the people : . What is government the structure that provides for people Sets up the rules and processes : What is society a group of people : . What is ideology a group of beliefs and ideas that people follow : What is a social contract government is obligated to follow the . people People obey the government as long as the government . protects the people The same works with business so the business . respects society while society makes money for legitimate business . Business must remain legitimate or will not be protecting society : Market capitalism model business interacts indirectly with society . through the market without government intervention In a perfect , . world this follows the social contract : Dominance model Business and government dominates the . masses It was believed that a few businessmen worked with the . government to control the country They work for their own benefit . and are not good for society : Countervailing forces model no one dominates society and
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. everyone is dependent upon one another Everything interacts with , , everything meaning if society needs something business will make . , it because business needs societies money In this model business . has a duty to society to create what is demanded : Stakeholder model a business can have primary and secondary . stakeholders It is considered better that the countervailing forces model because business can decide who effects the business more . and then they can provide for that group more than another : Strategic management part of the stakeholder model and deals . with the relations that business has with its stakeholders They . have better relations with those that are more important to them Chapter 2 How business changes with the environment Globalization worldwide business Liberalization people will adapt and become individuals Technology technology will always advance Business is very volatile because of the rapid changes in . technology Things change so quickly that business must adapt . extremely quickly : Economic environments different areas in the world are different . economic environments Where one location may spend a lot of , . money another may not
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: Government Environment government rules and regulations affect . the daily operations of business Government may also create rules , . . . that allow for greater spending i e lowering the interest rate : Legal environment companies must lookout for business and the . law is there to protect both of them : Cultural environment culture affects business because people change so business must adapt to the needs and wants of their . , customers Companies may create one thing but as soon as the , . customers demand something else they must adapt : Natural environment business must try to protect the . environment The environment also affects the way that they
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test 1 notes - POL 213 C Notes Chapter 1 What is business:...

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