1.1: Business Basics
Read this article for an overview of basic business concepts. This article will give you a solid foundation for the course material to follow. While the goal of business is to make a profit, there are many other goals. These sections will explain the various types of goals, how they are assessed, the markets they serve, and their impact on society. As you read these pages, make sure to click on any embedded hyperlinks for additional definitions and explanations of the concepts.
Read this section learn about internal and external factors that affect the success of businesses. Pay particular attention to Figure 1.2 to gain an understanding of where each of these factors falls.
Read this section, paying particular attention to the sections on communities, financial contributions, volunteerism, and supporting local causes to learn more about the positive impact of businesses.
Read this section to gain an understanding of the environmental impacts of businesses and the importance of sustainability.
Read this article for a fascinating look at the environmental impact that changes in an industry can have. While many would argue that the shift away from coal as an energy source is good for the environment, one must also consider the lasting impact coal plants can have on the environment even after they have closed.
Now that you've read about some of the positive and negative impacts of businesses, complete this activity on whether Nike was responsible for compensating Honduran factory workers. Consider how Nike impacted society, and determine whether you think their impact was positive or negative.