Section 1
What Is a Business?
Book
Version 6
By Boundless
By Boundless
Boundless Business
Business
by Boundless
6 concepts
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The Goals of a Business
The primary purpose of a business is to maximize profits for its owners or stakeholders while maintaining corporate social responsibility.
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Benefits of Organization
Organization helps businesses achieve focus and success in reaching their goals.
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Addressing Market Needs
In today's business environment, ascertaining market needs is vital for a firm's future viability, and even existence, as a going concern.
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Profit and Value
Profit is equal to a firm's revenue minus its expenses, while value is the present value of the firm's current and future profits.
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Profit and Stakeholders
A stakeholder is any group or individual who can affect or who is affected by achievement of a group's objectives.
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The Role of the Nonprofit
Nonprofits play a vital role in society by focusing resources and providing services to community needs without regard to profit.