1. Foundations of Business
The Basics
©William Klinger. This work is licensed under a Creative Commons Attribution 4.0 license 
Adapted from Fundamentals of Business 
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2. Learning Objectives
Describe the concept of stakeholders and stakeholder groups
Discuss and apply the macro-business-environment model
Explain other key terms including: entrepreneur, profit, revenue.
Adapted from Fundamentals of Business 
Download this book for free at: ttp://hdl.handle.net/10919/70961

3. Business
Provides goods and services to consumers for the purpose of making a profit
Revenue = income
Profit = revenue – expenses
Entrepreneurs – people who take business risk
Profit – the reward for taking risk

4. Business Participants
Owners (shareholders)
Employees
Customers
Stakeholders
Shareholders
Vendors
Others
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5. Functional Areas of Business
Management
Operations
Marketing
Accounting
Finance
Legal
Human Resources
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6. Macro Environment
Economy
Government
Consumer trends
Technology