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Introduction To Business Chapter Reviews

676 words - 3 pages

Corrie Sue Bettles
Chapter One
Business Now: Change Is the Only Constant

Review Questions

1. What factors contribute to the rapid pace of change in business? Is the pace likely to accelerate or decrease over the next decade? Why?
Industries, and technologies rise and the also fall sometimes. In the next decade most Industries and Technologies will accelerate with the common buying of things.

2. What role does entrepreneurship play in the economy? Who stands to gain from the success of individual entrepreneurs? How do other parties benefit?
Entrepreneurship plays a somewhat big thing for the economy. The employees of the entrepreneurship are the ones that ...view middle of the document...

Natural Resources: This factor includes all inputs that offer value in their natural state, such as land, fresh water, wind, and mineral deposits. Capital, Human Resources, Entrepreneurships. Human Resources: for instance, require wages, while entrepreneurs need a profit incentive.

6. What are the 5 dimensions of the business environment? Discuss the key elements in each area as they relate to U.S.-based businesses.

|Dimension of Business Environment |Key Elements |
| |In September 2008, the U.S. economy plunged into the worst fiscal crisis since the|
| |Great Depression. |
|Economic Environment | |
| | |
| |Embodies the values, attitudes, customers, and beliefs shared by groups of people.|
| | |
|Social Environment | |
| | |
| | |
| |Interacting continually with other economics. In fact, over the past two decades, |
| |technology and free trade blurred the lines between individual economics around |
| |the world. Global trade has forged unprecedented links among nations. |
|Global Environment | |
| | |
| ...

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