COMM 103 Chapter Notes -Limited Liability Partnership, Legal Personality, Benefit Shortfall
11 Dec 2013
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Document Summary
Business, in its broadest context, is a system of integrated actions designed to ensure that an organization develops and grows a market for its goods and/or services in a manner that creates organizational value/wealth on behalf of stakeholders. Commercial endeavors the markets the organization serves, products and services it offers, needs it professes to meet. Employee interaction the value-creating skills an organization"s employees bring to the marketplace (skills of the labour force) Organizational efficiency and structure reflection of complexities of business activities that circulate within organization. Four core fundamental resource areas of a business model/system (operational platform that a business uses to generate revenue and profit): Capital money needed to support expenditutes, operating requirements and invest in new development of products for marketplace. Managerial acumen foresight, drive, knowledge, ability, decision-making competency, and ingenuity of organization"s key individuals (owners) Strategy and 3c assessment to recognize opportunity to create a product that is unique or important.
