INTRODUCTION TO AMERICAN BUSINESS ORGANIZATION AND MANAGEMENT

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Ch1. THE NATURE OF BUSINESS

The Objective of Business
From Barter to Money Economy
Gross National Product
Capital and Risk: two basic types of business are industrial (engaged in production, extraction, and construction) and commercial (involving marketing, finance, and services)
Private Sector and Public Sector

Economic Systems:
Capitalism: Economic theories have been developed to explain it. There theories range from macroeconomics (the functioning as an organic whole), to microeconomics (decisions by firms regarding prices and profits). In capitalism, individuals are free to own properties, own a business, compete freely in the market, and determine their own future. This freedom is known as laissez faire.
Socialism. Socialism. Can be both an economic system and a form of government. Under socialism, the government decides, in the best interest of society, what kinds and what quantities of goods and services shall be produced. The individual is relatively free to choose an occupation, but the government exerts pressure, attempting to fit individuals into overall societal needs.
Communism. Communism is both an economic system and a form of government. Under communism, there is little or no private property and no (money) profit motive. The state is the employer, and everyone works for the benefit of society as a whole. The government decides who may produce what goods and services, how much, for whom, at what recompense, and by what means. As with fascism, political freedom is radically controlled.
Fascism
Most countries have mixed economies. American capitalism is impure also. Capitalism in its pure form (laissez faire capitalism) refers to an absence of governmental restraint and it is not compatible with the complexity of the advanced society which exists today. Governmental restraints are now necessary to provide maximum benefit for all of society to improve the quality of life for society as a whole.

Barter economy
Business
Capital: capital funds and capital goods
Constant dollar: a statistical concept concerned with adjusting the dollar so that it will be measure the same quantity of goods and service
Economics: a theoretical study involving statistical measurement and generalizations based on models of typical kinds of circumstance
Entrepreneur
Firm: manufacturing, extractive, and mercantile firms
Free enterprise
Gross National Product GNP: The total value of goods and services produced by a country in one year.
Recession: an absence of grows of the GNP
Risk (competition, outmoding through technological change or consumers style, fire, flood, theft, mismanagement, marketing misjudgment, public rejection, strikes, governmental regulating)

BUSINESS ETHICS, RELIGIONS, AND SOSIAL RESPONSIBILITY
UNINCORPORATED BUSINESS: THE SOLE PROPRIATORSHIP AND THE PARTNERSHIP
THE CORPORATION
CONCEPTS OF MANAGEMENTS AND ORGANIZATION
MANAGEMENT TOOLS AND MORE