Business Environment

Assignment 1: The Business Environment 1

Assignment 1: The Business Environment

Stanley G. Castleberry

Dr. Victor H.P. Villarreal, PhD.

BUS 100, Introduction to Business

November 4, 2012

Assignment 1: The Business Environment 2

1. Describe the role of business in the economy.

The business is the economic system which provides services and goods which are profit

driven. The possibility for profit is powerful enough incentive to start and grow a company or

personal online company. Businesses of an economy are the growth engines of success.

Businesses create wealth for owners but also create benefit improvements of its workers,

customers, stockholders, and shareholders. Businesses create new products and services which

provide new businesses and customers more convenient opportunities to improve their standards

of convenience and lives. Businesses Climates improve the standard of livings and contribute a

higher quality of lives worldwide. Businesses provide jobs for individuals to enjoy goods and

services provided by businesses throughout the market place. Businesses also support charities

and organization to give back to the community. Business gives taxes that are spent by

governments for the well being of the society. This is known as a full market economy.

2. Compare and contrast the roles of for-profit and non-profit organizations in the economy.

Similarities for a for profit and non for profit businesses are they hold assets, transactions are

made in the business name instead of individuals, they both need to generate funds, provide

services or goods for use by their consumers, the business is managed by people employed to

look out for the business, have a board of directors with fixed terms. For profits also distribute

profits...