2-BMGT Basics 1 .ppt

2-BMGT Basics 1 .ppt - BMGT 110 Introduction to Business...

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BMGT 110 Introduction to Business Management BMGT Basics 1
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Agenda Key Terms Business Goals Stakeholders & the business environment Economics Size matters The Star of Starbucks
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Key Terms Define Revenue Gross Profit $ Gross Profit Margin Mark Up Income Asset Liability Equity
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For-profit Business Goals Maximize profits Subject to resource, legal and competitive constraints Grow the business Be socially responsible Ethical and legal responsibilities Social responsibilities Others?
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Stakeholders and the Business Environment Stakeholders What are stakeholders? Examples What other groups and forces, internal and external, shape the environment of a business?
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Economics What is economics? What are the relative pros and cons of a “free market” system (pure capitalism) and a “planned economy” (socialism and communism)?
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This note was uploaded on 04/09/2012 for the course BMGT 110 taught by Professor Nelson during the Fall '08 term at Maryland.

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2-BMGT Basics 1 .ppt - BMGT 110 Introduction to Business...

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