CHAPTER 1 - CHAPTER 1 Meeting the Challenges of Todays...

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    1 CHAPTER 1 Meeting the Challenges of Today’s Dynamic Business Environment  
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    2 What Is Business 1- Business is any activity that seeks profit by providing goods and services to others. 2- Business can provide wealth and a high quality of life for almost everyone. 3- Entrepreneurs may not only become wealthy themselves but also provide employment for other people. 4- Businesses are a part of an economic system that helps to create a higher standard of living and quality of life for everyone.
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    3 What Is Business (Contd .( Standard of living of a country : refers to the amount of goods and services people can buy with the money they have. Quality of life of a country : refers to the general well- being of a society.
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    4 Nonprofit organizations * A nonprofit organization is an organization whose goals don’t include making a profit for its owners such as government agencies, public schools, and charities. * In nonprofit organizations we need the business skills such as leadership, marketing, and finance management.
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    5 The Importance of Entrepreneurship to Wealth   * An entrepreneur is a person who risks time and money to start and manage a business. * Corporate downsizing- which is eliminating (laying off) some workers, managers, or departments in order to make a business more efficient- is one of the major opportunities contributing to the increasing number of entrepreneurs .
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This note was uploaded on 01/29/2012 for the course BUSINESS A bus102 taught by Professor Samia during the Spring '11 term at MSA University.

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CHAPTER 1 - CHAPTER 1 Meeting the Challenges of Todays...

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