INTRODUCTION: WHAT IS BUSINESS? Business is a field that has a lot of impact in almost every career field possible. Basic business skills can be asked of someone during interviews, projects, and other work obligations. Business has helped many people, especially in America, change their way of life and help them follow their dreams. So, what is business? Business is “an organization or economic system where goods and services are exchanged for one another or for money” (“Business Dictionary”). It is important to understand how business has progressed throughout history and also the different types of business fields there are.
Historical Impact Of Business On The Economy This section will discuss the history of economical impact of business …show more content…
This is important because each aspect of business has its own standards and principles that are related to ethical behavior. By definition, ethics are rules or standards that decide the decisions made on a daily basis. Relative to business, business ethics are aimed to determine the core justification by which a company will be ran (“Business Ethics and Social Responsibilities”).
Past
In the past, American didn’t have as high of standards as they do now. Historically, America was known for actively participating in things such as slavery and child labor. Overall, there weren’t very many restrictions or laws put into place that regulated either of those practices. During this era, the mid 1800s to early 1900s, practices were based on paternalistic views that the individual should follow the values of the father, or man of the house (Knouse, 101). It wasn’t until the 1970s that the United States government started to make regulations and laws about ethical treatments and standards. These regulations and laws emphasized that businesses care about more than just profits, and that they should focus of the morals and values under which their business is ran (Knouse, …show more content…
This section will describe a few of these different fields and a brief description of what they do.
Management
Business management is a field with careers in managing. This field will be asked to watch over other employees, make executive decisions about a business, lead team meetings and implement and enforce the companies ethical standards and principles, along with many other responsibilities. These people are often organized, responsible, friendly towards others, and goal oriented. Salaries will range between 50,000-100,000 dollars depending on the types of field that is being managed ("Exploring Business Careers").
Finance
Finance is another section of business that deals with money. In a financial position, the goal would be to help a company, organization, or individual person succeed and increasing their earnings. These people are well informed about current market and economic situations and are able to analyze them as well. Commonly, financial workers have strong math skills and are also relatable to their clientele. Average income for different financial careers can range from 70,000-100,000 dollars ("Exploring Business
Historical Impact Of Business On The Economy This section will discuss the history of economical impact of business …show more content…
This is important because each aspect of business has its own standards and principles that are related to ethical behavior. By definition, ethics are rules or standards that decide the decisions made on a daily basis. Relative to business, business ethics are aimed to determine the core justification by which a company will be ran (“Business Ethics and Social Responsibilities”).
Past
In the past, American didn’t have as high of standards as they do now. Historically, America was known for actively participating in things such as slavery and child labor. Overall, there weren’t very many restrictions or laws put into place that regulated either of those practices. During this era, the mid 1800s to early 1900s, practices were based on paternalistic views that the individual should follow the values of the father, or man of the house (Knouse, 101). It wasn’t until the 1970s that the United States government started to make regulations and laws about ethical treatments and standards. These regulations and laws emphasized that businesses care about more than just profits, and that they should focus of the morals and values under which their business is ran (Knouse, …show more content…
This section will describe a few of these different fields and a brief description of what they do.
Management
Business management is a field with careers in managing. This field will be asked to watch over other employees, make executive decisions about a business, lead team meetings and implement and enforce the companies ethical standards and principles, along with many other responsibilities. These people are often organized, responsible, friendly towards others, and goal oriented. Salaries will range between 50,000-100,000 dollars depending on the types of field that is being managed ("Exploring Business Careers").
Finance
Finance is another section of business that deals with money. In a financial position, the goal would be to help a company, organization, or individual person succeed and increasing their earnings. These people are well informed about current market and economic situations and are able to analyze them as well. Commonly, financial workers have strong math skills and are also relatable to their clientele. Average income for different financial careers can range from 70,000-100,000 dollars ("Exploring Business