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16 Cards in this Set
- Front
- Back
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Business |
Organization that provides and identify it's main goals and functions |
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Profits |
Difference between a business revenues and it's expenses |
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External environment |
Everything outside an organization's boundaries that might affect it |
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Domestic business environment |
The environment in which a business conducts it's operations and derives it's revenues |
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Define the nature of U.S. business and identify it's main goals and functions |
The US is a capitalistic system, in which any person could choose to open a business, shut it down, expand it and make a profit for themselves, within certain constraints placed on them by the government. |
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What encourages people to open and expand business? |
Profit |
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What distinguishes a business from those organizations such as schools, hospitals and government agencies? |
The right to pursue profits. They run the same risks but don't generally seek profits |
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What kind of system is the United states? |
It is a capitalist system |
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What are the benefits of business? |
Produce most goods and services Employ most working people Create new innovations Provide opportunities for new business's by being their suppliers Contributes to the quality of life of its employees Enhance the income of millions of stakeholders Taxes support the government |
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Domestic business environment |
The environment in which a firm conducts it's operations and derives it's revenues |
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Global business environment |
The international forces that affect a business |
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Technological environment |
All the ways in which a firm can create value for their constituents |
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Technological environment includes... |
human knowledge Work methods Physical equipment Electronics Telecommunications Processing systems |
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Political- legal environment |
The relationship between business and government |
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Economic environment |
Relevant conditions that exist in the economic system in which a system operates |
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The external environments of business |
Domestic Technological Sociocultural Political legal Economic Global |
