About This Chapter
Business, Government & Society Overview - Chapter Summary
This chapter provides a comprehensive overview of the roles of business, government and society. Our expert instructors will show you how businesses are affected by different types of environments, and you'll take a look at several factors that can shape business environments. Each lesson comes with a short quiz to help you reinforce your understanding of key terms and concepts. Work through the chapter at your own pace, and use any computer or mobile device to access the lesson material. Studying this chapter can help you:
- Recognize the characteristics of a business
- Describe the role and functions of the government
- Define the business environment
- Identify external environment factors in business
- Outline effective market and non-market business environment strategies
- Explain the concept of 'winner take most' markets
- Understand how legal, economic and social environments affect business
- Assess the role of stakeholders in a corporation's market and non-market environments
1. What is a Business? - Definition, Characteristics & Examples
This lesson provides a definition of a business and reviews the key characteristics needed to have a business. The conclusion of this lesson includes a variety of business examples.
2. What is Government? - Definition, Role & Functions
In this lesson, we will examine the various definitions of government. Then we will take a close look at the functions of the U.S. government and the role it plays in citizens' everyday lives.
3. What Is Business Environment? - Definition & Factors
Businesses do not operate in a vacuum; they operate in an environment. In this lesson, you'll learn about the business environment, including what makes it up. A short quiz follows the lesson.
4. What is an External Environment in Business? - Definition, Types & Factors
What leads to the success of a business? Does it all come from within the company? No, business environments and how companies react to external factors are key to their success. In this lesson, you'll take a look at these external environments and test your new knowledge with a quiz.
5. Strategies of Market & Non-Market Business Environments
Companies must employ market and non-market business strategies in order to satisfy stakeholders and be profitable in the workplace environment. In this lesson, you will learn the specific strategies that lead to profits and stakeholders' support.
6. What Are Winner Take Most Markets? - Definition & Examples
What do Google, Walmart, and Uber have in common? They're all leaders in the Winner Take Most market. In this lesson, we'll define what that is and look at a few examples of Winner Take Most in action.
7. How the Economic and Legal Environment Affects Business
Businesses do not operate in a vacuum. They are subject to their external environments. In this lesson, you'll learn about the legal and economic environments of business and how businesses are affected by them.
8. How The Social Environment Affects Business: Examples & Impact
Businesses operate in a society. In fact, large organizations are mini-societies unto themselves. In this lesson, you'll learn some of the factors that make up the external and internal social environment of a business.
9. Stakeholders of a Corporation's Market and Non-Market Environments
Corporations depend upon the support of their stakeholders for success in the marketplace. In this lesson, you will learn about both the market and non-market environment of stakeholder groups.
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Other chapters within the UExcel Business Ethics: Study Guide & Test Prep course
- Understanding Business Ethics
- The Interaction of Business, Government & Society
- Understanding Management & Stakeholders in Business
- Public Affairs & Crisis Management for Business
- Employer-Employee Relationships
- Promoting Diversity in the Workforce
- Stockholders & Corporate Governance
- Corporate Social Responsibility & the Community
- Consumer Rights & Protections
- The Importance of Ethics in Advertising
- Business & Special Interest Groups
- The US Government & Legislation
- Regulations & Public Policy for Business
- The Judicial Branch of the US Government
- Business & Antitrust Laws
- Global Business Environment Overview
- Understanding International Trade & Business Law
- Understanding Technology in Business
- Understanding Environmental Issues in Business
- UExcel Business Ethics Flashcards