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MGMT20144 Management And Business Context

tag 0 Download 10 Pages / 2,316 Words tag 15-07-2021

Question:

This unit has the following learning objectives:   To understand the concept of the Business Organization and how they emerged as a product of human civilization and the contributions made. Examine the role and nature of various forms of Business Organization and how they operate. Recognize the ongoing role of Business Organizations in the 21st century in achieving outcomes for business and society.  Consider the various choices that a potential business owner needs to consider in establishing a business and selecting an appropriate structure under which to operate now and into the future.  Apply knowledge and skills gained from this unit towards resolving business challenges and issues.    
 
Business Organizations are one form of the many organizations operating in our society. They exist primarily as a key form designed to facilitate human interactions and conversions and exchanges of tangible and intangible resources. These exchanges are designed to maintain an efficient economic market and sustain fair and reasoned stable social system providing sufficient benefits for social cohesion. In other words Business Organizations provide a coordinating capacity within the socio-economic framework of our world. As a definition the following is offered: A business organization is an individual or group of people that collaborate to achieve certain commercial goals. Some business organizations are formed to earn income for owners. Other business organizations, called nonprofits, are formed for public purposes. 
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