BU121 Study Guide - Final Guide: Business Plan, Cash Flow Statement, Elevator Pitch
Document Summary
Business: organizaion strives for proit by providing goods& services desired by customers. Standard of living: country"s output of goods that people can buy. This includes privately purchased & collecively consumed goods, like those provided by public uiliies& governments. Quality of life: the general level of human happiness based on such things as life expectancy. Risk: potenial for losing ime& money or otherwise not accomplishing an organizaion"s goals. All the elements of the model work together to create a uniied whole can"t make a decision in one area of a business without considering the impact it will have on other areas. Model represents reality by summarizing essenial elements in a simple form to give you a base on which you can build knowledge. Model provides framework so you can see the pieces iing. Describes the raionale of how an organizaion creates, delivers, and captures value. How your idea actually becomes a business that makes money.
