The Role of Business in Social and Economic Development

Act as the middleman and get goods produced by manufacturers to the intended consumers; they make their profits by marking up their prices.

• Service Business

• Retailers and Distributors

• Utilities

• Manufacturers

Policy should be specific/definite.

• Simple

• Flexible

• Stable

• Specific

Refers to the level of even-handedness in dispensing justice, whereby claims are recognized in the order of their legal and contractual priority.

• Justice

• Transparency

• Fairness

• Stewardship

The unwritten rules or guidelines that are peculiar to every culture or organization and are supposed to be observed by all parties.

• Decorum

• Policies

• Protocol

• Advertising

Policy must be unambiguous.

• Clear

• Stable

To have a ______ career.

To make money and have financial ____________.

Originally made up of the tasks of a domestic steward, from stig and weard.

• Protocol

• Policies

• Decorum

• Advertising

It is a business owned by two (2) or more people.

• Sole Proprietorship

• Partnership

• Corporation

• Cooperative

The owners of a corporation have limited liability, and the business has a separate legal personality from its owners.

• Sole Proprietorship

• Partnership

• Corporation

• Cooperative