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ch01 - > Chapter 1 The Framework of Contemporary Business...

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> > > > > > > > Chapter 1 The Framework of Contemporary Business
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Learning Goals 1 2 3 4 5 6 7 8 Distinguish between business and not-for-profit organizations. Identify and describe the factors of production. Describe the private enterprise system, including basic rights and entrepreneurship. Identify the six eras of business, and explain how the relationship era- including alliances, technology, and environmental concerns-influences contemporary business. Explain how today’s business workforce is changing. Describe how the nature of work itself is changing. Identify the skills and attributes managers need to lead businesses in the 21 st century. Outline the characteristics that make a company admired by the business community.
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What is Business? Profit-seeking activities and enterprises provide goods and services necessary to an economic system. Profit is the reward for businesspeople who take the risk involved to offer goods and services to customers.
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Factors of Production Natural Resources Capital Human Resources Entrepreneurship
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The Private Enterprise Capitalism
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