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Chapter One
Introduction to the Field
Business-Government-Society
Why do we need to study this field?
Examine the interplay of business, government and society and its effect on management decision making.
Business
Satisfy human needs Create necessary goods and services For a PROFIT Sole Proprietorship, Partnerships, Corporations, and LLC/LLP
Government
The structures and processes in society that authoritatively make and carry out policies and rules Local, State, National, International Focus on the economic and regulatory powers
Society
A network of human relations Three interacting elements:
Ideas, values, norms Institutions Material Things