Master this deck with 18 terms through effective study methods.
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Continuous production of goods and services to satisfy human wants.
Aggregate of forces and factors affecting a business organization.
Internal factors are controllable; external factors are not.
It is complex, dynamic, uncertain, and multi-dimensional.
It helps identify opportunities and adapt business policies.
A tool to match internal strengths and weaknesses with external opportunities and threats.
Factors within the organization that influence its performance.
Factors outside the organization that provide opportunities or threats.
Immediate factors affecting a company's performance, like suppliers and customers.
Macro includes broader forces like economic and political factors.
It influences business operations through economic conditions and policies.
It affects business through government policies and regulations.
Obligation to consider the welfare of society in business decisions.
Economic, legal, ethical, and philanthropic responsibilities.
It leads to increased productivity, customer loyalty, and improved performance.
Maximizing investment value and keeping them informed about financial health.
Fair wages, good working conditions, and benefits.
By producing quality goods that meet diverse needs and preferences.