1. Characteristics of Business
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Characteristics of Business
6.1 The Nature of Business
6.2 Changes Affecting Business
6.3 The Contributions of Business

2. 6.1 The Nature of Business GOALS
Explain the nature of business activities.
Describe the general types of businesses.
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3. Management of Business Activities
Production
Marketing
Finance
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4. Types of Businesses Goods-producing businesses Service businesses
Industry
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5. Expected Employment in Major Industries by 2018
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6. 6.2 Changes Affecting Business
GOALS
Describe how innovations affect businesses.
Identify the impact global competition has had on U.S. businesses.
Discuss ways in which businesses can improve their business practices.
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7. Innovation’s Impact on Management
Innovation—something entirely new
Effects of innovation
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8. Impact of Global Competition on Business Management
Global competition—the ability of businesses from one country to compete with similar businesses in other countries
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9. Focusing Management on the Right Things
Achieving effectiveness
Achieving efficiency
Specialization
Technology and innovation
Reorganization of work
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10. 6.3 The Contributions of Business
GOALS
Identify two ways a nation measures its economic growth and prosperity.
Describe the benefits of business ownership to the nation and individuals.
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11. Business Growth and Prosperity
Gross domestic product
Individual well-being
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12. Business Ownership Popularity of small business
Growth of franchise business
Risks of ownership
Obligations of ownership
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