Bus 100 the Business Environment

In: Business and Management

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| The Business Environment | BUS100 | Professor Mancini | | |
Robert Negron
6/21/2013
Describe the role of business in the economy. Compare and contrast the roles of for-profit and nonprofit organizations in the economy. Discuss the impact of current fiscal and monetary policy on the economy. Select a product or service with which you are familiar and outline a strategy for accessing global markets. Select an organization with which you are familiar and discuss the impact of that organization’s level of social responsibility on a stakeholder group of your choice. |

What is the role of business in the economy? Some might say that business breathes life giving air into the lungs of the economy. Business is an organization involved in the trade of goods, services, or both to consumers. Businesses play a huge role in every section of an economy, such as; manufacturing, healthcare, retail and service are examples of what involves businesses. Businesses also create jobs, and use local resources. In turn consumers that are employed by businesses make money in turn spending that money back into the economy creating continues cycle of business.
The roles of for-profit and non-profit play a critical role in the economy and are very similar but have one obvious difference. A non-profit organization simply is a business-like establishment; their end result does not include profit where as a for-profit organization’s goal is profit. For-profits also differ from non-profit organizations in that all their employees are hired to do all forms of work for the business where as non-profits use volunteers. Non-profit and for-profit organizations are similar because they both are in the business to improve the quality of life in the society, employee workers, stimulate the economy by purchasing services and goods, make investments in the community, and provide goods…...

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