Intro to Business
Stakeholders- are all the people who stand to gain or lose by the policies and activities of a business. Stakeholders include customers, employees, stockholders, supplies, dealers, bankers, and people in the surrounding community.
Nonprofit Organization- is an organization whose goals do not include making a personal profit for its owners or organizers.
Factors (5) of Production- 1. Land- land and other natural resources are used to make homes, cars and other products. 2. Labor- people have always been an important resource in producing goods and services, but many people are now being replaced by technology. 3. Capital- capital includes machines, tools, buildings, and other means of manufacturing. 4. Entrepreneurship- All the resources in the world have little value unless entrepreneurs are willing to take the risk of starting businesses to use those resources. 5. Knowledge- Information technology has revolutionized business, making it possible to......
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Approximate Word Count: 1172
Approximate Pages: 5 (260 words per double-spaced page) |