Business Basics
This type of business aims to make money.
What is a for-profit business?
Individuals, groups, or societies affected by an organization's activities.
Who are stakeholders?
The individual who initiates and takes responsibility for a business.
Who is an entrepreneur?
Businesses that consider the environmental and social impact of their operations are practicing this concept.
What is sustainability?
Business activities that serve a social cause fall under this category
What is a not-for-profit business?
The vast majority of the world's businesses are these kind of enterprises, which range from one person up to 249 people.
Small-to-medium size enterprised (SMEs)
The first offering of shares to the public.
What is an initial public offering (IPO)?
This concept recognizes the broader role of businesses in society
What is corporate social responsibility (CSR)?
This department focuses on hiring, training, and managing employees.
What is Human Resource Management (HRM)?
The process of a company moving jobs or production facilities to another country, often with lower labor costs.
What is outsourcing?
A business operating under an agreement to use an established brand.
What is a franchise?
Reliance on low-cost labor in developing countries for FDI leads to this type of business model.
Unsustainable Business Model
A blend of for-profit and social cause-oriented business models.
What is a social enterprise?
This type of FDI targets developing countries for location advantages.
What is Greenfield FDI?
Owners of a company typically enjoy this for the company's debts and obligations.
What is limited liability?
Rapid economic growth in resource-rich developing countries has not necessarily translated to this for all citizens.
What is societal wellbeing?)