ACC 340 Lecture Notes - Lecture 2: Canadian Tire, Lawn Mower, Lululemon Athletica
13 Sep 2018
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M3 - a conceptual model of business 1. Module covers: business entity, 3 fundamental goals (what a business entity does, business activities (strategically and operating activities) Organization of people + other resources assembled to achieve a purpose by conducting various activities to produce and sell goods/services to a market. Stand alone economic organizational unit that acquires financing for those resources. Undertakes activities with the expectation of economic game or profit. Life independent of its owners and managers and is expected to continue forever. Managing and financing a business entity means that a particular entity only, no. Example: lululemon athletica other entity or stakeholders. . 4 m per year which means their annual revenue. Fundamental goals of a business entity: mission. Satisfy a particular need(s) of a market by providing something of perceived value (i. e. goods, services, information) Solving a problem or otherwise creating an opportunity. To be able to accomplish this mission they must complete (2) endure and (3)
