Chapter 1 The Environment of Business
Chapter 1 The Environment of Business
Key contents ■ Business Business environment Political legal ■ Economic Technological a Social / cultural ■ International
Key Contents ◼ Business ◼ Business Environment ◼ Political / legal ◼ Economic ◼ Technological ◼ Social / cultural ◼ International
Business The organization: A group of people, with common purpose Providing goods and services to satisfy customer requirements in order to maximize profit An enterprise, commercial entity, or firm in either the private or the public sector, concerned with providing products or services to satisfy customer requirements. ■ The process: a The organized effort of individuals to produce and sell, for profit, the products and services that satisfy societv's needs
Business ◼ The organization: ◼ A group of people, with common purpose ◼ Providing goods and services ◼ to satisfy customer requirements ◼ in order to maximize profit ◼ An enterprise, commercial entity, or firm in either the private or the public sector, concerned with providing products or services to satisfy customer requirements. ◼ The process: ◼ The organized effort of individuals to produce and sell, for profit, the products and services that satisfy society’s needs
The Organized Effort of Individuals 3-Satisfying Customer Needs 2-Providing Goods and Services 1-Combining Resources Human Informational resources resources BUSINESS Materia Financial resources resources
The Organized Effort of Individuals 1-Combining Resources 2-Providing Goods and Services 3-Satisfying Customer Needs
Satisfying Needs a People buy goods and services not just to own them, but to satisfy particular needs a Businesses that understand customer needs, and work to satisfy those needs, are usually successful
Satisfying Needs ◼ People buy goods and services not just to own them, but to satisfy particular needs ◼ Businesses that understand customer needs, and work to satisfy those needs, are usually successful