What This Document Is
These are lecture notes for Borough of Manhattan Community College’s Introduction to Business (BUS 104) course. The notes provide a foundational overview of core business concepts, from defining what a business *is* and identifying its key stakeholders, to understanding financial basics like revenue, profit, and loss. It also touches upon the broader business environment, including technology, globalization, and the differences between for-profit and non-profit organizations.
Why This Document Matters
This document is essential for students new to the world of business. It serves as a starting point for understanding the fundamental principles that drive commerce and economic activity. It’s most useful at the beginning of a business program, or for anyone seeking a high-level introduction to business terminology and concepts. These notes establish a common vocabulary and framework for further study.
Common Limitations or Challenges
This document provides a broad overview, but it does not delve into the complexities of each topic. It’s a starting point, not a comprehensive guide. It won’t teach you *how* to start a business, analyze financial statements, or develop a marketing plan. Further coursework and practical experience are needed to develop those skills.
What This Document Provides
This document includes definitions and explanations of:
* The definition of “business” and its core components.
* Key business stakeholders (customers, employees, stockholders, etc.).
* The difference between goods and services.
* The concepts of revenue, profit, and loss.
* An introduction to entrepreneurship and its associated risks and rewards.
* The impact of technology on business (e-commerce, databases, identity theft).
* An overview of outsourcing, insourcing, and non-profit organizations.
* Discussion of standard of living and quality of life.
This preview *does not* include detailed case studies, practical exercises, in-depth financial analysis, or a complete exploration of global trade regulations. It is a foundational overview intended to prepare you for more advanced study.