GEB 1101 Study Guide - Final Guide: Limited Liability Company, Gross Domestic Product, Corporate Social Responsibility
Document Summary
Entrepreneur a person who organizes and operates a business or businesses, taking on greater than normal financial risks in order to do so. Business a person"s regular occupation, profession, or trade. Business environment means all of the internal and external factors that affect how the company functions. An economic system in which individuals own and operate the majority of businesses that provide goods and services. Many buyers and sellers selling similar yet different products; they differentiate their products from the competitors. Few very large sellers and many small buyers. Only one large seller and many small buyers. A guide to acceptable and ethical behavior as defined by an organization. Ethical standards that emphasize preventing unlawful behavior by increasing control and by penalizing wrongdoers. Ethical standards that define the organizations guiding values, create an environment that supports ethically sound behavior, and stresses a shared accountability among employees. A business"s concern for the welfare of society.
