Guiding Question: How do organizations respond ethically to the needs and wants of markets?
What’s A Business?
A business is when a person sets up a group to make profit. In this class, we briefly stated words we knew related to business, and gave concise introductions to what we knew about business. From this, we learned types of businesses, such as ParknShop, which are for profit businesses. Examples of non-profit businesses are Red Cross. Business’s are needed to satisfy the needs/wants (learned later on) of customers, and in order to this they “supply”. And then, the customers create the demand.
This has allowed us to understand what an organization does (in this case, business), and what it does in the market.