Chapter Preview
This chapter aims to provide a comprehensive overview of fundamental business concepts and the environment in which businesses operate.
Learning Objectives
After reading this chapter, you should be able to do the following:
- Explain the role played by the government in Canadian business.
- Distinguish between for-profit and not-for-profit organizations.
- Explain the economic benefits derived when businesses earn profits.
- Describe current trends in consumer behaviour and the business community’s response to those trends.
- Describe the public, private, and non-profit business sectors and distinguish between the manufacturing and service industries.
- Identify stakeholders relevant to an organization.
- Describe functional areas of business.
- Describe the factors of production.
- Differentiate between the internal, micro, and macro business environments.
