When I study this subject, I understand the importance of business. I know that, business can be defined as a person, partnership, or cooperation that seeks to provide goods and services to others at a profit. Besides that, this course can have a major impact on your career direction and future success regardless of whether you major in business, the sciences, or the liberal arts.
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Whatever you major may be, you are likely to end up pursuing a career in a business setting. For example, if you major in science, you may work for a biotechnology firm and can benefit from an understanding of business concepts such as managing an organization, working with employees, and managing employees. If you select journalism as a major, you may work for a media or publishing firm and, therefore, can benefit from an understanding of business concepts such as providing a product desired by consumers. Business concepts such as creating ideas, leadership, teamwork, and quality control are relevant to almost everyone, no matter what career is chosen. An Introduction to Business course provides the foundation of business knowledge that can enable you to utilize your talents in the business world. It also provides you with an overview of many different business worlds. It also provides you with an overview of many different business topics, allowing you to determine the specific field of business.
Business environment is that which surrounds a business. It affects a business. It is dynamic in the sense it keeps changing. Since it is composed of many factors, it is important for a company to study and monitor its environment carefully. This is so that the business does not go wrong in its planning process for its current and future plans. The changes in the environment may be good or bad for a particular business. They can affect the business in a positive or a negative way. It becomes essential to monitor the environment, especially the external, uncontrollable part of the environment. Since there are innumerable components that make up the total environment, a careful understanding of each and the implications of the changes of each factor need to be done. This facilitates the strategic planning process. Just as a human being take decisions based on his or his surrounding environment, example: parent, siblings, peer group, teachers, role models, health, attitude, socio-economic status.
People are willing to start new businesses if they believe that the risk of losing their money isn’t too great. Part of that risk involves the economic system and how government works with or against businesses. Government can do a lot to lessen the risk of starting businesses and thus increase entrepreneurship and wealth.
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