33:011:100 Lecture Notes - Lecture 1: Cotton Gin, International Trade, Bell System

• School: Rutgers University
• Department: Administrative Studies
• Course: 33:011:100
• Professor: Ken Genco

Document Summary

Employers create jobs when a need is developed. The bell system- a monopoly controlled by the government v business: an organization that provides goods or services that are then sold to earn profits v profit. Pick a mentor based on where you want to be someone who will gain based on your success. Everything outside an organization"s boundaries that might affect it v the domestic business environment: the environment in which a firm conducts its operations and derives its revenues by: Seeking to be close to is customers. Distinguishing itself from its competitors v global environment: the international forces that affect a business. Currency values v technological environment: all the ways by which firms create value for their constituents. Telecommunications v political-legal environment: the regulatory relationship between business and the government (legal system) and its agencies that define what organizations can and can"t do. A nation"s system for allocating its resources among its citizens, both.