ch01+PPP - Chapter 1 The Changing Face of Business Learning...

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The Changing Face  of Business Chapter 1
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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. 1 Learning Goals Explain how today’s business  workforce and the nature of work  itself is changing. Identify the skills and attributes  managers need to lead businesses  in the 21st century. Outline the characteristics that make  a company admired by the business  community. 2 3 4 5 6 7
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Profit-seeking activities and enterprises provide  goods and services necessary to an economic  system. Profit-seeking is the reward for business people  who take the risk involved to offer goods and  services to customers. See  Fortune 500  for a list of major U.S.  companies. What is Business?
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Factors of Production Natural Resources Capital Human Resources Entrepreneurship Occupational Outlook Handbook
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Capitalism Adam Smith is the father of capitalism. “Invisible Hand”
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This note was uploaded on 02/13/2012 for the course ART HISTOR 105 taught by Professor Kenfield during the Spring '11 term at Rutgers.

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ch01+PPP - Chapter 1 The Changing Face of Business Learning...

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