BA2020 Lecture Notes - BA2020 Lecture Notes Profit is...

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BA2020 Lecture Notes 09/05/2012 ° Profit is revenue minus expenses A reward to a business owner that takes a risk of ownership ° ° Risk is a set of possibilities with the potential of negative or positive outcomes Entrepreneurs are risk takers with money, time and other resources to start/maintain a business ° ° Non-Profits are organizations that look for profit in non monetary ways Goods/services Providing to the less fortunate Solving social issues/problems ° ° All businesses manage inputs to create outputs
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