1. Copyright © 2007 South-Western. All rights reserved. Chapter 1 Motives and Functions of a Business

2. Copyright © 2007 South-Western. All rights reserved.1 Learning Objectives Motives & Functions Of a Business GoalsResources Stakeholders Environment Decisions

3. Motives and Functions of a Business Copyright © 2007 South-Western. All rights reserved.2 The Key Decisions in Running A Business

4. Motives and Functions of a Business Copyright © 2007 South-Western. All rights reserved.3 Lower PriceOpportunity Goals of a Business Goals Resources Stakeholders Environment Decisions Needs Consumer Profit Owner

5. Motives and Functions of a Business Copyright © 2007 South-Western. All rights reserved.4 Where Profits Come From Goals Resources Stakeholders Environment Decisions Revenue - (Expense) Profits Demand Attract Expense

6. Motives and Functions of a Business Copyright © 2007 South-Western. All rights reserved.5 Free Markets Government & Nonprofits Goals Resources Stakeholders Environment Decisions Nonprofit

7. Motives and Functions of a Business Copyright © 2007 South-Western. All rights reserved.6 Factors of Production Goals Resources Stakeholders Environment Decisions Natural ResourcesHuman Resources CapitalEntrepreneurship

8. Motives and Functions of a Business Copyright © 2007 South-Western. All rights reserved.7 Technology Goals Resources Stakeholders Environment Decisions Information Technology Electronic Business

9. Motives and Functions of a Business Copyright © 2007 South-Western. All rights reserved.8 Entrepreneurship Goals Resources Stakeholders Environment Decisions RISKIDEAS CreatesAccepts

10. Motives and Functions of a Business Copyright © 2007 South-Western. All rights reserved.9 Stakeholders Goals Resources Stakeholders Environment Decisions OwnersCreditors EmployeesSuppliersCustomers

11. Motives and Functions of a Business Copyright © 2007 South-Western. All rights reserved.10 Owners Goals Resources Stakeholders Environment Decisions EntrepreneurStockholder

12. Motives and Functions of a Business Copyright © 2007 South-Western. All rights reserved.11 Owner Profiles Goals Resources Stakeholders Environment Decisions

13. Motives and Functions of a Business Copyright © 2007 South-Western. All rights reserved.12 Creditors Goals Resources Stakeholders Environment Decisions Loans

14. Motives and Functions of a Business Copyright © 2007 South-Western. All rights reserved.13 People in Business Goals Resources Stakeholders Environment Decisions Customers Employees Suppliers

15. Motives and Functions of a Business Copyright © 2007 South-Western. All rights reserved.14 People in Business Goals Resources Stakeholders Environment Decisions

16. Motives and Functions of a Business Copyright © 2007 South-Western. All rights reserved.15 Business Environment Goals Resources Stakeholders Environment Decisions SocialIndustry EconomicGlobal

17. Motives and Functions of a Business Copyright © 2007 South-Western. All rights reserved.16 Business Decisions Goals Resources Stakeholders Environment Decisions

18. Motives and Functions of a Business Copyright © 2007 South-Western. All rights reserved.17 Decisions and Performance Goals Resources Stakeholders Environment Decisions

19. Motives and Functions of a Business Copyright © 2007 South-Western. All rights reserved.18 Decision-Making Focus Goals Resources Stakeholders Environment Decisions