Course: BUS 104-A050 | Intro to Business | Professor Buckler | Fall 2022

What is a Business?

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    • #13988

      Brielle Buckler
      Participant

      In this unit, we discussed what makes a business a viable enterprise, and what “counts” as a business. We all come in contact with businesses every day, many without even realizing.

      Think about a single day this week, and describe the businesses you interacted with. Think about what you ate, where you went, how you got there, the technology you used to get things done, etc. Then, categorize the businesses on your list into either for-profit or not-for-profit/nonprofit businesses, and describe whether the businesses sell products or services.

      What kinds of businesses, based on your list, do you interact with most often? Do you see a pattern? What other types of businesses do you frequent not on this list?

      ———————————————————————-

      In order to receive full credit for this assignment, all components of this assignment are due by 11:59pm ET on Sunday, September 11, 2022. You should first contribute a thoughtful post of your own before viewing/commenting on the posts of others. Students should review others’ submissions and comment meaningfully (refer to this guide from MSSU for reference) to at least two other students. For reference, here is the difference between a comment and a post — you will be using both for this assignment.

      Once you submit your post, you must respond meaningfully to at least two other classmates’ threads. This assignment is worth a total of ten (10) points — 6 possible points for your original post, and up to 2 points for each of the two responses to your classmates’ posts. Please reference our Discussion Rubric for more information.

      • This topic was modified 1 month, 2 weeks ago by Brielle Buckler. Reason: Republish
      • This topic was modified 1 month, 2 weeks ago by Brielle Buckler. Reason: Updated Links
    • #14403

      Saleh Sharhan
      Participant

      In this unit, we learned the foundational concept of what makes a business, well, a business. At its core, the existence of a business is to combine all factors of production (i.e., resources, labor, capital, and entrepreneurship) to satisfy the needs and desires of others.
      That said, there are two types of businesses, a for-profit in which shareholders and creditors of the established business benefit from the growth of the business wherein excess profits can be paid back in dividends and interest. Whereas a non-profit is first treated differently in government regulation and taxes, but also its core concept is to provide a service or good, however, after paying operational expenses, excess profits in non-profit entities are either reinvested into the establishment or given raises to employees.
      Throughout one’s life, a person interacts with different businesses. In my case, I have had multiple interactions with various businesses in the last 24 hours.
      Furthermore, in the last 24 hours, I went to the gym, used an Uber to commute, went to the barbershop, and finally had a nice lunch at my local restaurant. Also, I’ve used the subway and I’m now attending Borough of Manhattan Community College (BMCC). If given the chance to categorize the businesses on whether they are no-profit or otherwise, eating at the restaurant, using an Uber, getting a quick haircut, and finally attending the gym at Planet Fitness will be considered all to be patronizing at for-profit institutions. In contrast, I’m not aware if the MTA is non-profit but it is likely to be the case since mass transit companies around the world do not make any profits and are subsidized by government funding. That aside, the MTA system is not a 501 (c) (3). Equally important, BMCC has the same status as the MTA as its sole existence relies on serving the public. However, today I got an invitation to attend New York University after graduating from BMCC which after a brief research, is a private university is a non-profit organization.
      Equally important, the distinction between the last 24 hours visited businesses is that some provide services and other goods to consuming. In the case of my routine, it is obvious that I have consumed more services than goods wherein using Uber and the MTA to commute, attending BMCC, and getting a haircut from my barber are all considered a service. WHY NOT? Most of the U.S economy is comprised of services. More than two-thirds in fact.
      Moreover, the only goods I have consumed in the last 24 hours are the lunch I had today and yesterday at my local restaurant which is, unlike cars or machinery, considered to be non-durable goods.
      As far as if there is a pattern here, most said businesses are for-profit entities and are businesses that almost all the time produce services. Equally important, businesses I infrequently use their services are things like Amazon.com wherein their business model is to provide me the service of obtaining goods on their website. Hence, making Amazon.com a hybrid business.

      • #14435

        Hi Saleh

        You categorized the businesses well and in their proper category. The MTA is integral to many people’s day in the city, and its services are considered for profit. Do you have any products you can’t live without?

      • #14436

        Hailey-Marie Nieves
        Participant

        Saleh, excellent job explaining the concept “What is a Business”, you explained everything about a business, such as what it is, goods, and services, the factors of production, and for-profit and not-for-profit companies. I agree with how you defined a business, “business is to combine all factors of production (i.e., resources, labor, capital, and entrepreneurship) to satisfy the needs and desires of others”, honestly couldn’t have said it better, you even included the resources of production within the definition. In the Module 1 article “Role of Business”, states that “business is all around us”, have you found something that has no relation to business, or do you believe everything deals within companies/businesses?

      • #14475

        Xavier Pineda
        Participant

        Great insight on the various business. The MTA is probably the most used service in NYC its one of the easiest options to use to get around town. It connects us to many different parts of the city and able to access many more businesses outside of our own neighborhoods. Even though we can’t take it home with us it does give us great benefit of a money and time saver.

    • #14417

      Hailey-Marie Nieves
      Participant

      In this unit, we discussed the function of a business which is an activity that provides goods or services to consumers in exchange for profit based on the customer’s needs. You as a consumer are reading this short response because of the goods and services provided to you, such as the goods known as your laptop or phone you’re using, and the wifi or LTE service you are also utilizing. Business is everywhere but businesses need resources to stay competitive and profitable. There are four categories of resources as a means of production, known as, natural resources, labor, capital, and, entrepreneurship. For example, say someone runs a restaurant, the natural resources would be the wind to power anything electric, labor would be the cooks, chefs, and waiters, the capital would be stoves, ovens, tables, plates, etc and entrepreneurship would be the person who started or runs the restaurant. Business is all around us, the difference between the types society comes across are non-profit and for-profit businesses. A for-profit business provides goods and services, its profit is used to pay owners, partners, shareholders, employees, etc. Their profits are subject to taxation by local, state, and federal authorities. Non-profit organizations work in a similar way that for-profit organizations do, however, profits are not subject to taxation, instead, profits are used to further the organization’s mission.

      Throughout communities, people interact with businesses every day. For example, I had an Interview with the business Starbucks. In order to get there, I went onto the service provided to me by Apple on my iPhone, known as Apple maps app, and searched how to get there. I then took the MTA bus, arrived, got a Dragon Fruit drink before my interview, and called the manager to let him know I had arrived. After the interview, I went to CVS and bought a few goods such as drugstore mascaras and makeup. Afterward, my mom picked me up in her Toyota Highlander and dropped me home. Of course, after being out for a bit, I was hungry and decided to bake a Red Baron’s frozen personal-size pizza from Bjs. As an external stakeholder, known as the customer, I interacted with quite a few businesses like Starbucks, CVS, Apple, and the MTA. CVS and Apple sell goods/products and are both for-profit businesses, unlike Starbucks being a Section 501(c)(3) charitable organization that provides both a good and service(the good being the item you order and service being the workers who make and provide it to you). The MTA is a different story whereas it is a public benefit corporation. Based on the businesses I visit frequently, I mainly go to businesses that market a good rather than a service. A pattern that can be noted, is that most businesses tend to be for-profit because frankly who doesn’t want to make an income on the goods or services they put their time and effort into?

      • #14445

        Ivanna Balarezo
        Participant

        Hello Hailey, I really like how you explained the four categories of resources for production. You chose very well the method and it is understandable for readers when you give an example, in this case it was a restaurant and it is an efficient way of explaining it.  Also, when you said that businesses provide good and services in exchange for profit made me realize that even if it is a non-profit organization, every business has the intention of making profit and I believe that is the most important part of a business. It also brought more clarity to me when you mentioned all the businesses around you, like they were hidden in plain sight and it was helpful how you gave it thought to them. Have you been able to find more non-profit businesses around you? I have struggled to think about them since I currently only know about MTA.

      • #14451

        Fatima ALGABYALI
        Participant

        I liked the way you explained how different types of companies you used during one day. This shows that each company has a different goal to meet the needs of people and at the same time to have a profit.

      • #14459

        Oumou Jalloh
        Participant

        Hi Hailey,
        I like the way you have presented the brief about the business and the business that you have interacted with in a day. Even I appreciate that you have described non – profit businesses. Yes, I agree that Apple and CVS are offering the products to consumers. I liked the way you categorized the for profit and non – profit businesses as well as services and product based – businesses. There are many people who are not aware of Starbucks’ charitable organization. Your post was really informative more me.

      • #14484

        Yelyzaveta
        Participant

        Hi Hailey, good luck with your new job at Starbucks. I liked how you clearly explained the terms for profit and non profit business, it gave me more clarification. You followed the professor’s instructions in an organized manner and in your answer, you gave a lot of valuable information.

    • #14432

      Saleh Sharhan
      Participant

      Very insightful response Hailey. Unlike my response. you have noted in great detail how business, in this case, a restaurant, combines all the needed factors of production with all four of them equally important. However, I have a philosophical question regarding contemporary politics wherein the dispute occurs on the weight of the importance of each factor of production. Some labor advocates would suggest that labor is the most important component of the production process. Whereas business advocates suggest that capital and entrepreneurship are the core of business creation. Your thoughts on the matter?

      I also admire how you were able to count all the services and goods you have used during your day as you see things more clearly through the lens of being provided a service or a good. At least, I was able to count four or five things!!

      One thing to note though, you mentioned that Starbucks is a charitable  501 (c)(3) entity. I believe you meant to say the Starbucks Foundation which was established in 1997. However, the Starbucks coffee chain, founded in 1985, is a publically traded company according to an SEC filing: tinyurl.com/3asccant

      Cheers,

      Saleh

      • #14434

        Hi Hailey

        First of all, I wish you the best in your Starbucks interview. I noticed that the business you came in contact with that helped you through your day are very well known. I believe The services you received have easier access than the products you bought. What business would you consider to be a nonprofit from your day?

        • #14438

          Hailey-Marie Nieves
          Participant

          Hi Scarly, thank you for the luck, I did get the job which I am happy about! Yes, I agree, the services I came into contact with were more accessible than the goods I purchased. I suppose as an individual I prefer a tangible item to something that is provided as a service. I don’t think I encountered a non-profitable organization unless the services known as the apps on my phone are non-profit. Perhaps the search engine or google is a non-profitable business since I don’t pay for it.

      • #14437

        Hailey-Marie Nieves
        Participant

        Thank you Saleh, I tried to summarize the key concept of what I thought was important in business. You brought up a rather significant question, as to laborers voicing that labor is the most important factor or resource in business, and business advocates proposing that capital and entrepreneurship are the most essential resources. I disagree with both the business advocates and laborers because without each of those factors, I don’t believe the business would thrive. You need each component of resources for a successful business known as natural resources, labor, capital, and entrepreneurship. Although if I had to determine which was more substantial, I would express natural resources as they are not man-made and can not be replicated.

        Ah yes, that was a mistake on my behalf that I did not note at the time, thank you for pointing out that the 501(c)(3) I had mentioned was for the Starbucks Foundation and not the Starbucks coffee chain. Definitely noted, thanks again.

    • #14433

      This week I went to the supermarket chain Aldi and picked up groceries for the month. My brother drove me there in his car. I don’t usually eat out, so I made dinner that day with the salmon I bought. I always have my 64 oz water bottle to keep me hydrated. I also used my iPhone to navigate to the market and used an app on my phone for the recipe. The supermarket chain is a for-profit business that sells products. The vehicle that transports me from A to B would be considered a service alongside the google maps navigation app. I interact with for-profit companies more because of my needs and wants. I use social media often, and they provide online services that sometimes sell products. It doesn’t cost anything to download certain apps on my phone; the only thing is I may have to purchase in-app features. The patterns I notice are businesses that sell services are used daily. Unless I’m intentionally doing online shopping or looking for something at the store, there is no need for a new product. The resources I have in my home serve their purpose until I refill them.

      • #14460

        Oumou Jalloh
        Participant

        Hi Scarley,

        It was a pleasure to read your post. It is interesting to know that you do shop from the ALDI for groceries and you know to cook salmon. The mobile has made our lives easier, even I use it to book can or do online shopping using the Amazon app. I feel supermarkets are offering both products and services. Google Maps is considered to be part of the service – based business. I think we are different as I like to visit cafés and eat food from outside when I go grocery shopping. Social media has become a place to advertise or product the products, thus it also offered the platform to interact with the sellers

      • #14471

        xue,wang
        Participant

        You mentioned using a mobile phone to navigate addresses, and the use of some free software. Is this field a non-profit project? Because this requires manual development and updating, it is more convenient for us to travel and it is more convenient to find the material information we need on the Internet

    • #14439

      Fatima ALGABYALI
      Participant

      Business is the procedure that produces goods or provides services primarily for profit. There are two types of businesses: the first type is focused on profit, and the other type is non-profit, which does not focus on making money. It focuses on its customers and their needs. To produce goods, a business requires four resources: land, labor, capital, and entrepreneurship. Businesses have shaped this world more than anything ever did. They provide us primarily products and services that a human being needs in his day-to-day life.

      I interact most often with companies that relate to my needs and interests. For example, I often visit restaurants, cafes, and grocery stores. I also visit companies related to my hobbies, such as art supply stores. I also visit companies that provide my needed services, such as banks, doctors, and dentists. Furthermore, I go to businesses relevant to my needs and interests. For example, yesterday I went to the dentist for my braces, and then I went to the gas station for the car. My mother called me and asked for some groceries. When I got home, I wanted to order some items online, but I realized I didn’t have enough money inside my bank account, so I went to Chase bank to deposit money.

      The businesses that I mentioned are a mix of services and products. For example, the dentist, Chase, and Gas station are considered services. However, the dentist and Chase Bank are in section 501(3)(C), meaning they are tax-exempt corporations addressing a need. Their profits must not benefit private interests, such as the creator, shareholders, or persons directly or indirectly controlled by said organization. On the other hand, the grocery store and Amazon are for goods/products and are both for-profit businesses. A gas station is also considered a profitable business.

      Businesses have shaped this world more than anything ever did. They provide us primarily products and services that a human being needs in his day-to-day life.

      Due to businesses, one can get commodities manufactured in other countries from nearby stores and shops. Businesses are the backbone of any economy. We had already witnessed this during the covid outbreak when most of the businesses struggled, and economies collapsed by default.

      • #14442

        Hailey-Marie Nieves
        Participant

        Fatima, exceptional response as to “What is a business”, you provided great insight into what goods and services are and how you the consumer utilize these businesses. I really appreciate how you included the effect of covid on these businesses, I relate to it as one of my good friend’s, aunt’s hair salon had shut down because of covid. Unfortunately, she still has not been able to open her salon up again because someone else had purchased the property she was renting. Is there a business that you visit fairly often and if so, is it a non-profitable or for-profit business?

      • #14446

        Ivanna Balarezo
        Participant

        Hi Fatima, as I was reading your post, I saw your posture towards business, you said “Businesses have shaped this world more than anything ever did”. And that is so interesting because you were able to tell how important business is in our lives even if we are not aware of it. The prices of the things we buy and sell are set by the market, and the market is influenced by businesses made around the world in a very large scale so yes. In a way, business shape are daily lives and we are actively participating in it. Also, it is good that you included how businesses not only provide goods but also services since we often we forget that.

         

      • #14453

        Isaac
        Participant

        Fatima, I like how in depth your explanation was in regards to what businesses do and how they operate. I agree with your sentiment on how businesses shape the world. You explained how businesses are the backbone of economies and this is very true and it is crazy to think about where the economy would be without them. At this moment what would you say is the most important business in society currently and why do you feel that way?

      • #14463

        Eylul Karaosman
        Participant

        Hi Fatima,

        I really liked how you flowed with your definitions. It made it easy for me to read and understand. I also enjoyed how you included covid. Covid did affect a lot of businesses that weren’t really acknowledged at the time. For you to remind us was eye opening. A close family member of mine also delt with adjusting to those circumstances. It definitely is not easy to keep up with a business, then again, what would we be without them?

      • #14470

        xue,wang
        Participant

        You explain clearly what a business is, but I have a question, that is, many dental businesses are private businesses. Although they receive insurance, I personally think they are profitable businesses. Difficult support, including dentistry, I remember of course that after the epidemic, various disinfection measures after the clinic opened, including the number of patients who made appointments, must be checked for body temperature, and vaccine status.

      • #14472

        Saleh Sharhan
        Participant

        Superb response Fatima,

        It is admirable how you structured your response in an organized manner. Also, you mentioned businesses being the “backbone of any economy”, which is certainly true. Businesses around the world, their sole purpose is to find a needed service, and with the help of entrepreneurship, a businessperson combines all remaining 3 factors of production, then puts them into the market. For instance a century ago, for the sake of innovation and profit incentives, a businessman like Henry Ford, combined labor, natural resources, and capital to make his idea of making cars come to life. Equally important, Henry ford did not stop there, he used new innovations to utilize the labor he had by creating the assembly line which increased the productivity of the labor and allowed more supply to meet the demand, with affordable pricing since the increase of productivity lowered the cost of labor, which is a high-cost component in business. The point of said thing is that business does not always stagnate, but always evolves with innovation to lower the cost and increase the supply of what people are able to purchase.

        Furthermore, you noted that Chase is a 501 (c)(3) organization. Maybe, you were referring to charitable or non-profit foundations within Chase. That said, Chase or JPMorgan Chase bank is a for-profit entity whereby they are a publically listed company. Hence, a for-profit entity.

        Cheers,

        Saleh

      • #14477

        Xavier Pineda
        Participant

        Medical service and health care are big industries which I tend to forget the amount of money it could generate for the owners because the need and demand for them. Having the ease to be able to order online and deposit money into your account to make it happens shows how our change of environment is always evolving and the business along with them.

      • #14485

        Yelyzaveta
        Participant

        Hi Fatima, I liked your explanation of what business is, you explained everything in simple language but at the same time clarified the details quite deeply. I liked your phrase “Businesses have shaped this world more than anything ever did” I certainly agree with your thought. You aptly noted that during Covid, many businesses fell into a crisis or even failed. Yes, I agree, business follows us everywhere, we use it 24/7 and cannot imagine life without all the privileges that businesses provide us.

      • #14507

        Fatima ALGABYALI
        Participant

        Business is the procedure that produces goods or provides services primarily for profit. There are two types of businesses: the first type is focused on products, and the other type is services. It focuses on its customers and their needs. To produce goods, a business requires four resources: land, labor, capital, and entrepreneurship. Businesses have shaped this world more than anything ever did. They provide us primarily products and services that a human being needs in his day-to-day life.

        I interact most often with companies that relate to my needs and interests. For example, I often visit restaurants, cafes, and grocery stores. I also visit companies related to my hobbies, such as art supply stores. I also visit companies that provide my needed services, such as banks, doctors, and dentists. Furthermore, I go to businesses relevant to my needs and interests. For example, yesterday I went to the dentist for my braces, and then I went to the gas station for the car. My mother called me and asked for some groceries. When I got home, I wanted to order some items online, but I realized I didn’t have enough money inside my bank account, so I went to Chase bank to deposit money.

        The businesses that I mentioned are a mix of services and products. For example, the dentist, Chase, and Gas station are considered services. On the other hand, the grocery store and Amazon are for goods/products and are both for-profit businesses. A gas station is also considered a profitable business.

        Businesses have shaped this world more than anything ever did. They provide us primarily products and services that a human being needs in his day-to-day life.

        Due to businesses, one can get commodities manufactured in other countries from nearby stores and shops. Businesses are the backbone of any economy. We had already witnessed this during the covid outbreak when most of the businesses struggled, and economies collapsed by default.

    • #14441

      Ivanna Balarezo
      Participant

      If I think about all the businesses I have interacted with in the last 24 hours, not many come to my mind at first. But, if I really pay attention to it, I see business all around me.  I am going to start with what we learned is a business. We could say a business is a practice that involves factors, which I will explain later, with the purpose is providing a service, good or sometimes both to satisfy the needs of people.

      The 4 factors that a business must have in order to exist are: 1. Natural resources, which are all the resources that can be found in nature and be useful for production. It is important to know that these resources cannot be made by human hand. 2. Labor, that is human contribution which can be physical or intellectual. For example, when building a house, we have the intellectual part when an engineer designs the house and the physical when constructing the house. 3. Capital, these are all the produced resources a business owns that help to produce other resources, such as when a restaurant chain acquires a new land to open a new location of the restaurant. 4. Entrepreneurship, this may be the decisive factor when opening a business since everyone can image how would it be to have a business but not everyone makes the decision to go for it. This action is called entrepreneurship, when someone gathers all the previous factors and take a chance at starting the business.

      Now, there are 2 types of business, for-profit and non-profit. A for-profit business is intended to make profit for the shareholders and owners. And, a non-profit is intended to support a specific cause or purpose. Back to the beginning, I can say now the businesses I see around me.  Yesterday, I woke up and order food from a Chinese restaurant near me house using my phone. Later I did homework with my new laptop which Walmart delivered the night before. Then, I had to take the MTA bus and train to go to work, which is a coffee shop business. So far, I have mentioned many businesses. Just in case you have not notice them, I will point them out. The first one is my phone itself, and I believe Apple is a for-profit business. The Chinese restaurant is a for-profit business also. I had to get a new laptop because the one I had broke down a few weeks ago so I decided to order on Walmart and FedEx delivered it and I believed these two businesses are also for-profit. The only one non-profit business I interacted with is MTA and if I am being honest, I learned about it reading the previous posts in this discussion. Then, I had to google it to inform myself about it since up until I had been ignorant about the MTA service.

      I would say the businesses that I interact more often are MTA to go to work, the restaurant near me house because the food comes fast and I like it, and the most important one is Google since I use it every single day without exception and I forgot to mention before since it has become a part of my daily routine. As you can see,  most of them are for-profit expect MTA and I think in order to find a non-profit business, you will have to look for it or involved more in the non-profit network since they are not as known.

      • #14447

        Fatima ALGABYALI
        Participant

        I agree with you; at first, you may not notice everything you do in business; possibly because people are accustomed to the daily routine, you may not see how much you spend during the day… Everyone’s life revolves around business. When you look closely, the basic purpose of most businesses is to earn money in some form. Of course, no firm can prosper if it does not suit the wants of its customers.

      • #14454

        Isaac
        Participant

        Ivanna, I really like how explained the 4 factors a business needs to have in order to exist. Prior to reading this I actually did not know about this so it is definitely a nice read. You also spoke about the businesses in which you use on a daily basis and I myself use google and the MTA. It is definitely nice to see similarities and how we are all using the same types of services.

         

      • #14465

        Jessica Vazquez
        Participant

        Hi Ivanna, excellent explanations and points here.
        I also tend to interact with for-profit businesses because they are easily accessible to me daily, especially now that we can even do online shopping on our phones. I haven’t come across many non-profit organizations either- I’ll have to do more research and see how one can be more involved in one.

    • #14450

      Isaac
      Participant

      To put in simple terms a business is essentially an organization with an end goal to provide for people but in the same sense gain some profit. There are different types of businesses as one could be for profit and the other could be non profit. Non profit is when the business is ran for the sake of providing help for good causes. We fail to realize how much we interact with certain businesses but also how important they could be for our everyday life. From gyms, barbershops, hair solons, restaurants, supermarkets, etc. These all play big parts in our lives and basically help us as we navigate through life. I interact with many businesses as they benefit me in  some type of way. Earlier in the week I had class on campus and took the train to get to the school. I ordered pizza the other day as well and Domino’s is definitely a popular business in which people tend to order from. MTA service is definitely a big service for us college students that commute because it is a simple yet effective way for us to get to our destinations. With NYC being a place where you do not really need a car MTA allows for  a smooth way to move around the city without any hassle.

      I have also interacted with many business titans along the way. Apple, Amazon, Walmart have all benefited me and allowed for me to buy items in which I currently use. These are all for profit companies in which sell varieties of items such as phones, household items, computers, basically anything you can think of. It is very important that we have these companies because they are easily accessible and they always have what you are looking for. Most of the businesses in which I interact with are for profit so that is a pattern in which I have noticed.

    • #14458

      Oumou Jalloh
      Participant

      From this unit, I learnt about the diverse business functions and how it helps in providing products and services to the users or customers to earn profits. It is also necessary to meet the needs of customers to increase the sales and profits of the company. In order to survive in the market, the business needs to focus on conducting market research and exploring the needs of its target market consumers. The business does have competition in the market which force them to introduce new product and update the existing products. The business uses diverse resources to produce and sell the products such as financial resources, natural resources, human resources, etc. For example, a supermarket store order products from different brands and display those in the store. They market the product and the customer buys them. The purpose of any business is to make profits and develop a brand.

      Last Sunday, I went to an ALDI supermarket to buy groceries, for which I commuted by cab using the Uber app. While shopping, I did visit the nearest café to have coffee and burger which I like the most. After coming home, I shop through the Amazon app as I like to do online shopping, this technology made easier to order any product easily. On that day, I visited a laptop repair shop as my laptop was not working properly. Café, cab, online shopping app, laptop repairing shop and supermarket with which I interacted were considered to be business. All these businesses are considered to be a business for profit. The café and supermarket stores do offer the products and services. Uber and Amazon are service – based businesses. Amazon is offering both services and products to the user or consumers. I do interact with these businesses frequently. I do not frequently visit the laptop repair shop. The pattern among all these businesses was that they all are working for making profits.

      • #14462

        Eylul Karaosman
        Participant

        Hi Oumou!

        I didn’t know anyone else that went to ADLI! It’s interesting how everything ties together, you worded it very well. Every little thing involves business. I didn’t really think about companies like Uber or Uber Eats as a profit business. Completely true, conducting the marketing is very significant in order to keep the business running. Without this, it is very easy for a business to spiral and fail.

    • #14461

      Eylul Karaosman
      Participant

      Whether it is seen or not seen, business goes on around us all the time. In this unit, it is discussed that business is a type of organization that can not only provide consumers, but also executives with profitized systems. There are different types of businesses, such as profit and non-profit organizations. Profited organizations include the goal of making money regardless of the general costs and or transactions. These could be seen on a day to day basis. For example, this week I went to a grocery store called ALDI. A grocery store is needed locally to everybody around the area, and since they sell general goods, sales are bound to happen. Gorcery stores sell their goods to consumers in large quantities to minimize the amount they pay for product, and maximize the amount they sell it for. Non-profit organizations simply make the profit, however the amount that is made is not shared directly to the organization. CUNY, for instance, is a non-profit organization due to the money that is recieved by students, is essentially given back to them. Progams like College Discovery as well as ASAP, fund students academically, rather than directly going to the school to keep.

      Within Business, there are four categories to correctly form a successful organization. First off, natural resources that are provided by mother nature and are able to be used as a service. Secondly, labor, which requires physical and physiological toil from human resources. Following with a capital, that provides support to the goods that are already naturally produced, invloving technology and machinary. Lastly, the icing on the cake, entrepeneurship. The base of all businesses comes from an entrepeneur. Organization of manufactures, productions, and maketing is their main focus. Just looking around your room, every product has come to life all from an entrepenuer. Continuing with ALDI, natural resources are provided from places like farms and or other brands to capitalize on foods, which is kept fresh with refigerators in order to sell them. Labor from employees supply service to the customers that are willing to pay for the goods they please, forming entrepeneurship.  Meeting the needs of your costumers, it’s significant to keep up with products that will keep them coming, as well as grab interest of others. There is a competition between markets, which gives the motivation to be on top of your work at all times.

       

    • #14464

      Jessica Vazquez
      Participant

      Usually, my weekdays are always about the same. I wake up and take the subway to work. There is a corner deli store on the same block as my job, and I’ll buy a cup of coffee and a breakfast sandwich. Sometimes, when I get sick of eating their deli food, on my way home from work, I’ll stop by and get groceries from the grocery store across the street from home. I like working out and doing my household tasks, but I don’t have to pay for a gym membership or laundry services because my building offers those amenities, which are included in my monthly rent. With this in mind, I live in a building owned by a property management company, therefore a business.

      Since I go to the corner deli regularly, I know the owners well, and they already know my usual order. Their deli business is for-profit. They provide a good (my cup of coffee and breakfast sandwich) and a service (taking my order), making their business a hybrid of the two. The same goes for the grocery store across the street, where they sell goods for profit. Now considering, the property management company that owns the residential building where I reside is a for-profit business as well; however, they do not sell any goods but deliver the best possible resident experience service. Their profits from the monthly rental fees collected are reinvested into their properties and aim to maximize their return on investment. The pattern here is that I tend to interact with for-profit businesses more due to my daily necessities. Other than the MTA, which they are not a nonprofit but a public benefit corporation created to generate social and public good.

    • #14467

      To make a viable enterprise there are four specific characteristics: organization, economy, product, and profitability. And in our daily life, this coverage is all, like I usually buy in Mcdonald and I will use the app deals. This is part of profitability, and they offer products such as food. all the workers and stores form an organization. also, the phone app brings the connection between McDonald’s and the customer and the app also offers delivery or store pickup this is part of the service.

      this week I bought a chair from amazon, which amazon is a big organization selling products, this also connected with the mailing company, and after that, I tried to cancel my order because of the non-tracking information this brought to the part of service. This all form the profitability of the company.

       

    • #14468

      xue,wang
      Participant

      <div class=””>In this unit, we have learned the basic concepts of the enterprise, the core elements of the enterprise combined with rational and standardized system management, with goals, plans, resources and capital, so as to meet the needs of others.Therefore, we need to find the needs of customers, so as to provide services or goods to consumers. There are two types here. One is a for profit purposes, , which generally refers to the purpose of establishing a business to bring profits through the operation of the institution. but for other purposes,non-Profit-making organizations refer to those established not for profit,  such as building bridges for public transportation, promoting cultural exchanges, and promoting the development of public welfare undertakings. Such organizations generally include charitable groups and cultural exchange promotion groups.</div>
      <div class=””></div>
      <div class=””>For me, I need to do the bus and subway to get to work. I work as an assistant in the dental clinic. Then I go to buy lunch and a cup of milk tea. When I get off work, I haveto go to church and listen  sermons. . For my day, I personally feel that subways and buses are non-profit organizations, although there are many workers, everyone has their own salary, but without their work it will affect other people’s travel, then dental clinics and restaurants and Of course, milk tea shops are all profit-making organizations. They need to stand out in the face of many competitions. Every boss is increasing their own profits. The church is also a non-profit organization, which is equivalent to a subway bus driver. Although the pastor of the church has Salary, but the church also has a lot of construction and needs to pay a large amount of rent.So I think for myself, all work is for profit, and of course the industry of work decides whether it is profit or non-profit.</div>

    • #14469

      Alexis Coote
      Participant

       

      Well, since my working hours are so outrageous I interreacted with 4 businesses daily. Since I meal prep my meals. The only interactions that contain food and beverages is the famous coffee run. Therefore of course, walked across the street, and per-ordered on the Starbucks app so that I can earn points because it’s not cheap. Every interaction I do with businesses are for-profit. They all sell services. The MTA sells ride to get me from point a to point b. Starbucks sells coffee that helps with my mood swings. The Hospital consumes insurances, and the clinics sell consultations and checkups. Online shopping such as e-commerce site like Amazon. Then back home I go.

    • #14473

      Xavier Pineda
      Participant

      This past weekend I was working on-location for a queer based event. Typically living and working in Manhattan I bike every where. I purchased my bike at a bike shop down the block and they specialize on brompton foldable bicycles. This past Saturday I needed to take a cab to the venue which was located in Queens. The Knockdown Center hold various events this weekend BUSHWIG a non-profit LGBTQ+ organization was holding their 11th annual BUSHWIG. They cater to the underprivileged community by bridging the gap for BIPOC LGBTQ artist predominately based in NYC by giving them a platform to perform and showcase their talents. The event is done around NYC Fashion Week because many executives and creative directors for various companies come to scout new talent. At the event there are vendors selling merchandise as well as food. There is a mix of tangible products but also services which are the experience you are getting from the $70 ticket purchase made to be able to see the performers and hear really great music. Prior to reading this module I wouldn’t have noticed that an organization like BUSHWIG is a business and a non-profit.

       

      Getting to the event involved public transportation which I do not take frequently, MTA as well as UBER but my bicycle on a daily basis gets me from point A to point B. A big reason for the purchase of the bike was the reliability of the product and the value of it is much great for me then the financial investment I made into it.

       

      I tend to spend my money on frivolous things that hold “value” because the status of it. Then on the other hand after attending BUSHWIG and investing my time to allow for a cause to run smoother and receive exposure via my social media is a way I can give back to community and be “stakeholder” in the organization.

    • #14474

      CalixtoLopez
      Participant

      In this first Unit lesson of Intro To Business, we  learn what makes a business a viable enterprise. It also teaches us about the concept of business and what the differences of a for-profit and a non-profit business is. This first lesson also shows how we as people interact with businesses everyday of our lives. It shows how our interactions with business can change our lives and it shows that business is everywhere and anywhere. In addition, the thing that helped me understand this concept of business is that everything has something in common and that something is that ALL things are a product of business.

      Learning about business in the first lesson, I understand the types of benefits of it and how it personally helps me and how there are certain concepts. One concept of business would be mutual beneficial exchange. This certain concept shows us that this is the most common type of business and we use it in our every day life. For example , a beneficial exchange would be a buyer at a supermarket and a seller at a supermarket. They have a certain relationship were the provider is distributing to a seller and the exchange from the buyer is money and the exchange from the seller is the product. Business provides products and services to the customer to earn profit. If your business earns revenue then there would be profit and if its good then your business would grow.

       

    • #14478

      Shaila Quinapanta
      Participant

      From this unit, I gained the pure apprehension of the most significant traits a business needs in order to provide for its customers and at the same time gain profit. For-profit business focus heavily on the company’s success and main goal is to earn income while on the other hand, non-profit businesses are more driven to assist communities who are in need. Furthermore, in order for a business to maintain stable it must include the four vital resources: land, labor, capital, and entrepreneurship. In order for a company to produce services or goods to their customers successfully, they should include natural resources that will be useful to their enterprise as in, have a team of people that are physically strong and intellect, have an assist that is used to aid production, and have an entrepreneur who begins the business. These four resources unveil the key to have a business in control.

      Today, I commuted to the mall using a ridesharing company named Uber, ran some errands at Rite Aid and ate at a fast-food restaurant called Chick-fil-A. Uber and Rite Aid are for-profit institutions that aim to earn profit through its operations and are concerned with its own interest. The Chick-fil-A restaurant is a profit-making business however, it does have a corporate foundation named Chick-fil-A Foundation that primary focuses on committing to support establishments that dedicate to the issues of world hunger, homelessness and education.  Overall, I most often interact with for-profit businesses.

    • #14480

      DyniquaC
      Participant

      .

    • #14481

      DyniquaC
      Participant

      A business is defined as a company or organization that engages in commercial, professional or industrial activities. Businesses can be either for-profit or non-profit organizations. It is a type of economic activity that involves the exchange of goods and/or services for monetary gain or for other reasons. It is a business transaction. Goods are tangible items that businesses produce and trade in order to generate profits. Bags, food, and electronics are a few examples. The businesses I visited throughout this week were target and the supermarket(aldi,Ctown,local market). Which both produces goods. One is a general merchandise retailer. I mostly do food shopping in a wholesale club like BJ’s. Food markets etc. These places are walking distance from me. While in stores such as Target I use technology as far as having the Target App and price checking directly from the app & the difference pricing in stores. Target only has 5% that they give back into communities and donations. BJ’s have none profit. They collaborate with different organizations to alleviate poverty.

    • #14482

      Yelyzaveta
      Participant

      In this unit I learned that business is the process of making goods for the consumer. I didn’t think about it, but it’s true, everything artificial that we see around is the products of different businesses. We use the services of various businesses all our time. For example, when I go to a coffee shop and order coffee, I don’t think that the final result, that is, a cup of coffee, is the result of many businesses that were involved in order for me to drink coffee now. Supply of coffee beans, cups, straws, lids, coffee shop decorations, lighting and so on, you can list for a very long time. These are all the merits of various businesses. I use businesses all the time to satisfy my needs.  Even when I’m typing this text, I’m using Apple service. I often use the subway or bus, which are branches of the MTA which  is a non-profit organization, since their goal is to take a person to the right place for a low price. Often, transport companies working for the general public (state-owned) do not receive profit, but carry out a social mission, only private companies are assigned to receive money. I often go to the grocery store (it is a for-profit business, as it provides an opportunity to choose products, providing various businesses involved at once. The goal of grocery stores is to make money, as stores buy products in bulk and then increase the price of individual products). Yesterday I visited a restaurant that is for profit because their goal is to make money. Only some catering places identify themselves as non-profit businesses, such as charitable organizations. The difference between for-profit and non-profit business is that  that non-profit seeks to meet the social mission, while for-profit businesses are fixated on generating income.

      • This reply was modified 2 weeks, 5 days ago by Yelyzaveta.
    • #14486

      ayaovi hountondji
      Participant

      In the past 24 hours I’ve interacted with business without even noticing, but first what’s a business ? Well I can say the term business refers to the efforts and activities undertaken by individuals to produce and sell goods and services for profit, which I will explain later on .

      every day I go to the deli next to my house to get breakfast before I take the mta to school, eat lunch at chic fil a  then get to practice the same way witch is by taking the mta . I play with a mls-next academy name cedar stars bergen(witch is a soccer team that plays in one of the highest division for youth in the united states), who requires all its athletes to pay nearly 3.5k to register for the team for the whole year. Well I will say that organization has a profit-business that benefit not only the company but also that athletes taking part of it , because it introduces them to a lot of opportunities such as tournaments and games where the players are being scouted but a lot of good colleges. So back to the beginning , I travel across nyc using the mta most of the time which I think is a non profit business . On the other hand chic fil a that is my favorite restaurant to eat at is a for profit business.I would say the businesses that I interact more often are MTA to go to school, practice and google that I use to navigate around the whole city without forgetting the phone I’m using it not that I’ve got from apple that is a for profit business and it has been delivered to my house by Fedex that is also a for profit business I believe .

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