Business Environment
Business Environment
Ronald McMillan
BUS100
Denel Pierre
May 4, 2013
This paper will first focus on the business role in the current economy. It will also compare and contrast the roles of for-profit and nonprofit organizations, and discuss the current U.S. fiscal and monetary policies and their impact on the economy. Finally, it will outline a strategy taking automobiles to the global market, and it will discuss social responsibility for Wal-Mart and the impact they have on their community.
Most everything one can possibly think of what relates to economy is business; retail, services, agriculture, manufacturing and health care, all involve business. By definition, business is “any activity that provides goods and services in an effort to earn a profit” (McGowan, 2012, pg. 3). Economy is also defined as “a financial and social system of how resources flow through society, from the production, to distribution, to consumption” (McGowan, 2012, pg. 17). The profits allow businesses to innovate or offer more goods and services, which will consequently result in improving people’s lives. Without business, everyone would have to fend for themselves for absolutely everything that they need or want. The business environment affects the way a business operates. Businesses build wealth that gets redistributed throughout the economy; if businesses start to fail so will the economy that they are in.
For-profit and nonprofit are the two main organizations that make up the economy. For-profit organization is defined as “an established, maintained, or conducted for the purpose of making a profit” (Merriam-Webster, 2012). A nonprofit organization is defined “as not conducted or maintained for the purpose of making a profit” (Merriam-Webster, 2012). Nonprofit organizations are formed to complete certain tasks. The profits acquired by the nonprofit organization have to be put back into the organization itself. This means that all the money acquired by
Ronald McMillan
BUS100
Denel Pierre
May 4, 2013
This paper will first focus on the business role in the current economy. It will also compare and contrast the roles of for-profit and nonprofit organizations, and discuss the current U.S. fiscal and monetary policies and their impact on the economy. Finally, it will outline a strategy taking automobiles to the global market, and it will discuss social responsibility for Wal-Mart and the impact they have on their community.
Most everything one can possibly think of what relates to economy is business; retail, services, agriculture, manufacturing and health care, all involve business. By definition, business is “any activity that provides goods and services in an effort to earn a profit” (McGowan, 2012, pg. 3). Economy is also defined as “a financial and social system of how resources flow through society, from the production, to distribution, to consumption” (McGowan, 2012, pg. 17). The profits allow businesses to innovate or offer more goods and services, which will consequently result in improving people’s lives. Without business, everyone would have to fend for themselves for absolutely everything that they need or want. The business environment affects the way a business operates. Businesses build wealth that gets redistributed throughout the economy; if businesses start to fail so will the economy that they are in.
For-profit and nonprofit are the two main organizations that make up the economy. For-profit organization is defined as “an established, maintained, or conducted for the purpose of making a profit” (Merriam-Webster, 2012). A nonprofit organization is defined “as not conducted or maintained for the purpose of making a profit” (Merriam-Webster, 2012). Nonprofit organizations are formed to complete certain tasks. The profits acquired by the nonprofit organization have to be put back into the organization itself. This means that all the money acquired by
References: Cater, C. (2013). For Profit vs. Not-for-Profit Organization, Retrieved from http://smallbusiness.chron.com/profit-vs-not-for-profit-organization-4158.html For-profit Definition (2012), Merriam-Webster Online Dictionary, Retrieved from http://www.merriam-webster.com/dictionary/for-profit Kelly, M., & McGowen, J. (2012). BUSN4 (4th ed.). Mason, OH: South-Western Cengage Learning. Monetary and Fiscal Policy (2013). The Social Studies Help Center, Retrieved from http://www.socialstudieshelp.com/eco_mon_and_fiscal.htm Monetary Policy Basics (2012). Federalreserveeducation.org, Retrieved from http://www.federalreserveeducation.org/about-the-fed/structure-and-functions/monetary-policy/ Nonprofit Definition (2012), Merriam-Webster Online Dictionary, Retrieved from http://www.merriam-webster.com/dictionary/nonprofit?show=0&t=1367802535 Wal-Mart Stores, Inc. (2012). 2013 Global Responsibility Report, Retrieved from http://corporate.walmart.com/global-responsibility/environment-sustainability/global-responsibility-report Weil, D. N. (2008). Fiscal Policy, Retrieved from http://www.econlib.org/library/Enc/FiscalPolicy.html What is the difference between monetary policy and fiscal policy, and how are they related? (2012, March 30). Board of Governors of the Federal Reserve System, Retrieved from http://www.federalreserve.gov/faqs/money_12855.htm