Review for RSM100Y1 Test 1
Chapter 1 The changing face of business
At the heart of every business is an exchange between a buyer and a seller.
The quest for profits is a central focus of business
Not-for-profit organizations operate
Chapter 7 Management, Leadership, and the Internal Organization
What is management?
Management is the process of achieving organizational goals through people and other resources. The
managers job is to combine human and technical resources in the best wa
Chapter 4 Competing in World Markets
Why nations trade
When their home markets mature and sales slow, companies in every industry know the importance of
expanding business to other countries. International trade is vital to a nation and its businesses.
Appendix C Business Law
Legal System and Administrative Agencies
The judiciary, or court system, is the branch of government responsible for applying laws to settle
disagreements between two or more parties. This court system consists of several types and