|
|
This is only a preview of the paper
Click here to register and get the full text.
Existing members click here to login
|
|
|
Introduction to Business Business plays a major role within our society. It is a creative and competitive activity that continuously contributes to the shaping of our society. By satisfying the needs and wants people cannot satisfy themselves, businesses improve the quality of life for people and create a higher standard of living. It is a way for individuals to provide goods and services to consumers, and at the same time, produce a profit for themselves. Businesses are not only important because they provide goods and services for consumers, but they also improve the economy and increase jobs for people within society which is an additional fact producing a higher standard of living. To measure our societies standard of living, we must look to our "Gross National Product", which is the complete measure of our nations output. Unfortunately, inflation is a major problem in our nation which often reduces the Gross National Product. Inflation occurs when the goods become too high within society and spending decreases. Entrepreneur The word "entrepreneur" entered the dictionary in 1933. Pronounced As: äntrprnûr [one who undertakes], person who assumes the organization, management, and risks of a business enterprise. It was first used as a technical economic term by the 18th-century economist Richard Cantillon. To the classical economist of the late 18th cent. The term meant an employer in the character of one who assumes the risk and management of business; an undertaker of economic enterprises, in contrast to the ordinary capitalist, who, strictly speaking, merely owns an enterprise and may choose to take no part in its day-to-day operation. The word "entrepreneur" in 1982. Webster's New Collegiate Dictionary defines "Entrepreneur" as "one who organizes, manages, and assumes the risks of a business or enterprise." J. Schumpeter, The Theory of Economic Development (1934); J. W. Gough, The Rise of the Entrepreneur (1969); O. F. Collins, The Organization Makers (1970).
Approximate Word count = 1246
Approximate Pages = 5
(250 words per page double spaced)
|
|
|
|
|
|