Chapter 1: Connecting to the Dynamic Business Environment
Business- any activity that seeks to
provide goods and services to others
while operating at a profit
Goods- tangible products such as
computers, food, clothing, cars and
Chapter 4 Notes: Ethical and Socially Responsible Behavior
Strong relationship b/w academic dishonesty among undergrads and dishonesty at work
Volunteerism in U.S. is at all-time high, but as much as citizens do not give to
MGMT1: Introduction to Business and Management (Winter 2015)
Syllabus and Course Outline
Thomas Eppel, Ph.D.
Office: SB1 4615
MGMT1: Introduction to Business and Management
Winter 2015: Syllabus and Course Outline
1. A production function defines the output that can be produced
2. A production function assumes a given
set of input pr
MGMT 1 Test Questions
An economist is examining how consumers in the automobile market have responded to recent price increases by car
manufacturers. He is examining a microeconomic situation.
What are Finance and Financial Management?
Finance: The function in a business that acquires funds for a firm and manages them
within the firm.
Finance activities include:
-Creating cash flow analyses
-Planning for expenditures
Why do F
Taking Risks & Making Profits
in the Dynamic Business
Profit & Loss, Risk & Return
How are these related?
The higher the risk, usually the higher
the possible return (profit).
Your profits may be higher or your
losses may be greater