Complete A Mindmap On The Importance Of Business To The

Services decrease. Production slows down causing the unemployment rate to go up. Bigger expensive items are not purchased and this will have a ripple effect on smaller businesses eventually. Depression- Is exactly that everyone is depressed by the turn in the economy. The recession eventually gets worse and leads into depression. The GDP falls rapidly with weak sales and servic. Businesses start failing, people are without work. Recovery- this phase is when things start improving, and the GDP starts rising. An increase in demand for products begins the start of increasing employment and wages

1. I believe that the single most important responsibility of a company is to make sure that the people that they serve are happy with their goods or service. I believe this to be most important because if the people are unhappy with your good or service, then the amount of business that you do will go down therefore causing you to earn less money and a failure in the business.

The idea that the mission of business is to produce goods and services at a profit, thus maximizing its contribution to society is associated with

Analyze why it is in the interest of business to respond to community problems and needs.

A recession would cause the production possibilities frontier to shift inward. This would depict a decrease in the economic growth, because a recession is a time when the economy of a country is not advancing, but declining. There isn’t much trade during a recession and there is a decline in the activity between different industries. This would cause the need/want of particular goods and services to decrease. This would decrease the amount of production for that good, or service, because there would be less consumption of the product.

The United States has one of the largest economies in word. It contains an abundance of resources, making it easily available for us to create goods and services. The U.S. has had a long recovery after the great recession in 2008, but has come back from that and is now flourishing. Minimum wage has increased, oil prices are down, and the unemployment rate is at 4.8%. There have been immense advancements in technology and other business ideas which has made millions of jobs. The four business cycles that an economy can go through are: recovery, boom, recession, and depression. A recovery consists of increasing employment, upward pressure on prices, and economic growth. A boom is similar to a recovery but it is composed of rapid economic expansion

There are several things to consider when forming and operating a business. In Australia, laws established by the Australian Government govern businesses. There are regulators to business and also there are market exchanges that require strict adherence to different regulations in order for organisations to participate.

Traditionally, the key focus of a business is to make money. The more money a business makes, the better for the company. However, some businesses, like Greyston Bakery, have found a way to make a profit while investing in the future by being attentive to the needs of society. As I mentioned earlier, by taking an interest in the future of the society, more people will notice and therefore attract more diversified consumers to the company.

Creating my own business has always been my dream since a little kid. My sister owned Helping Hands Youth Center which added motivation to run my own concession store. If it can be tried, a business can be completed. My family always says work, collect takes, and retire. That is a good choice, but I want more that a regular life. Like all motivational speakers say in general,” if you have a dream live it” I want to secure a great future for myself and families, also my community. My family is either working low pay, relying on the government, or retired, but we all making good money.

It is a way for individuals to provide goods and services to consumers, and at the same time, produce a profit for themselves. Businesses are not only important because they provide goods and services for consumers, but they also improve the economy and increase jobs for people within society which is an additional fact producing a higher standard of living. To measure our societies standard of

This can be accomplished through business activities that protect the consumer, preserve the natural environment, reflect moral and ethical choices, and add value to the world as a whole.

Business plays a major role within our society. Undergraduates that has chosen business as their major has a huge variety of careers to choose from after they have graduated and got their degree. Business does not only mean that someone is the owner of something, but it also means taking control and being a leader of something within that company .Accounting, Human Resource Management, and Management itself are some fields that follows those characteristics and that these undergraduates embrace in.

I understand it is important to do what you like, but in the same way it is important also to follow the correct steps to determine if that is the type of business appropriate for your knowledge, experience and budget.

To say the truth the business world is more challenging. To assess the purpose the business it should be noted that we can say that the profit must come in the first array and in some special cases the benefit to the society also has come as a major why the business is doing in the current world. If we wish to make analysis the environment of the business then the industry in which the business is operating must be given preference as well as the risk the business is having in the current time being.

The main reason for establishing my bar and restaurant business is because I will be earning a large income if my business does become successful. From then on, I will be able to expand and become a larger business. Another intention of starting this business is to do the work my own way, knowing that I am the boss of myself and that I have to be independent. I will be able to input my own ideas into the business without having to consult with the boss. Finally, becoming a business owner allows me to choose the hours I wish to work. I can have a