Read Exploring Business – Chapter 1.2.

Play Kahoot.

Learning Targets:

• I understand the main participants in a business are its owners, employees, and customers.
• I understand that businesses are influenced by such external factors as the economy, government, consumer trends, and public pressure to act as good corporate citizens.
• I can list the five functional areas needed to run a business:

1. 1. Management involves planning, organizing, staffing, directing, and controlling resources to achieve organizational goals.
   2. Operations transforms resources (labor, materials, money, and so on) into products.
   3. Marketing works to identify and satisfy customers’ needs.
   4. Finance involves planning for, obtaining, and managing company funds.
   5. Accounting entails measuring, summarizing, and communicating financial and managerial information.