Ch 01-Managing Within the Dynamic Business Environment.Pdf

1988 Words Nov 1st, 2012 8 Pages
Chapter 1
Managing Within the Dynamic Business Environment
Legal & Regulatory Economic

Competitive

Technology

Social

Learning Objectives
1. 2. 3. 4. 5. Business’s profit/risk assumption Stakeholder roles Role of entrepreneurship in wealth creation Elements of business environment Rise of the service sector

Chapter 1

Slide 2

Research In Motion
A Canadian success story

When the most powerful person on the planet uses your product…

Chapter 1

Slide 3

Objectives of Business

Survival

Growth

Profit

Social Responsibility

Chapter 1

Slide 4

Objectives of Business
A business is any activity that seeks to provide goods and services to others while operating at a profit.

Growth Profit
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• Pleasing all stakeholders is not easy and requires balancing many factors.

Chapter 1

Slide 14

Offshoring and Outsourcing
• Offshoring entails sourcing part of the purchased inputs outside of the country. • Outsourcing means contracting with other companies to do some or all of the functions of a firm, such as production or accounting. • Outsourcing decisions affect the boundaries of the firm, what production takes place within the firm and what is purchased from outside the firm. • Changes in offshoring may be, but are not necessarily, related to changes in outsourcing.

Chapter 1

Slide 15

Non-profit Organizations (NPOs)
• A non-profit organization is an organization whose goals do not include making a personal profit for its owners or organizers. – Non-profit organizations—such as schools, hospitals, and charities—also make a major contribution to the welfare of society. • Social entrepreneurs are people who use business principles to start and manage non-profit organizations and help countries with their social issues.
Chapter 1 Slide 16

There are two ways to succeed in business:
1. Work within a company and rise to the top. 2. Start your own company. • The advantage of working for others is that somebody else assumes the entrepreneurial risk and provides you with benefits.
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