COMM1800Chapter1

COMM1800Chapter1 - What is the objective of business? To...

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What is the objective of business? To create value using the FOP- human capital, real capital (assets), financial capital (debt and equity), and intellectual capital (knowledge embedded in real and human capital). Value is created in a competitive market by having a sustained competitive advantage, and by using business models and strategies. Value matters to the stakeholders (people who stand to gain or lose by the policies and activities of a business) include owners, lenders, employees, customers, regulators, and society ( Standard of living is the amount of goods and services people can buy with the money they have (US high); quality of life is the general well being of society in terms of politics, environment, education, healthcare, safety etc)) Social entrepreneurs are people who start non-profit organizations and help countries with issues. The elements of measuring value include the quantity and timing of the expected future benefits and the opportunity cost associated with the expected future benefits (Including
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This note was uploaded on 02/27/2011 for the course COMM 1800 taught by Professor Kemp during the Spring '11 term at UVA.

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COMM1800Chapter1 - What is the objective of business? To...

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