Business Leadership- Exam 1

Flashcards are for BUS 1900.  They are for an exam.

5 cards   |   Total Attempts: 182
  

Cards In This Set

Front Back
The nature/ goal of business
Nature: To earn profits by providing tangible or intangible products

Goal: For-profit companies- profit. For non-profit companies- a specific goal of the company. Provide good or service but not for reasons of making a profi
The people and activities of business
Activities: Management, Marketing, Finance

People: Owners, employees, customers, stakeholders- investors, regulators
Why Study Business
To develop skills and acquire knowledge to prepare for your future career

To help you better understand the many business activities that are necessary to provide satisfying goods and services

To help you become a well-informed consumer and member of society
Why Study Business
The study of how resources are distributed for the production of goods and services within a social system.
Economic Systems
The way a society distributes its resources to produce goods and services
Addresses the issue of how to fulfill unlimited demand with limited supply of resources