A profit-driven organization that provides goods and services that customers want. Traits:
- You can do whatever you want with the profit
- Intention is to generate profit
- Provides goods and services
Power of Businesses
300 years ago the world was controlled by the state, 600 years ago, we liked in a feudalist world controlled by religion. Today, businesses control the world. SNC-Lavalin Affair proves this.
Business Characteristics
- Organized Effort - 1 or more people put in time and effort into the business
- Business Provides Needs and Wants - There is a key need/want that is being tackled and solved
- Businesses Have Customers - There is a demographic and group of people who buy your goods/services
- Business Must Generate Revenue - Generated from selling goods/services
- Businesses Must Incur Expense - There must be incurred costs
- Businesses Try to Make Profit - The Profit Motive influences business decisions