Course: BUS 104-E052 | Intro to Business | Professor Buckler | Summer 2022

What is a Business?

You must be logged in to reply to this topic.

  • Author
    Posts
    • #12059

      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 Wednesday, July 27, 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 3 months, 2 weeks ago by Brielle Buckler. Reason: Updated Date / Rubric Link
      • This topic was modified 2 months, 3 weeks ago by Brielle Buckler. Reason: Added MSSU Guide
    • #12196

      Dilson Abreu
      Participant

      I feel the term “business” has developed significantly over time. I mean, in the early 1900s, the definition of a business owner was not easily attained by most individuals. For example, only profitable businesses were recognized, such as transportation, food, clothes, and resources like oil and iron. However, business is now a phrase that everyone may accomplish, whether for profit or not. In my perspective, business is defined as giving something to your consumer in return for something else.

      A day where I can think that I interacted with a lot of business is yesterday when I went to my summer internship. I mean there was at least a sum of profitable businesses that I interacted with. First using my phone provider and cable provider to use wifi on my phone. In order for me to access wifi outside or inside of my home, I have to pay a monthly plan to my provider which is T-Mobile for me to use their services, which for them is a profitable business. The same thing can be said when I watch TV at home because I pay a monthly plan of service to my provider which is Spectrum, I have access to thousands of channels to watch, which also makes them a  profitable business. More can be said when I make home breakfast, the resources that I am able to use to make breakfast come from a food business such as a marketplace which makes them a profitable business. Another can be when I use the train to get to my internship. In order for me to access the train, I must pay a fee to the MetroCard in order for me to pass through the little gates. This is just a sum of what I must pay in order to keep my day going. I might not have to pay every day for some of the business that I mentioned but is not non-profit businesses. Lastly, there is definitely a cycle being used here.

      Now a non-profit business that I interact with is during my internship. I might not be getting paid for the work they assign me, but in return, I gain experience from their environment which I can include in my resume and they gain results from my assigned work.

      • #13384

        Gal kedem
        Participant

        Hi Dilson,

        I think you made a really good distinction between for-profit and non-profit businesses. It’s nice to see that you interact with a non-profit business during your daily life.

        You also explained well how you make a trade with the businesses you interact.

        • #13440

          Sharon
          Participant

          Good afternoon Dilson,

          I really love how you compared today’s definition of a business to the early 1900s because it helps to show how society has innovated from certain things and how what certain descriptions were like towards a business in the 1900s versus in modern day society like the present.

      • #13393

        Mohinabonu Saidova
        Participant

        Hello Dillon

        I think you have a very good understanding of for-profit and for-profit businesses. It’s great that you are during my internship, a non-profit business that is cross-functional.

      • #13404

        Bekzod
        Participant

        Hi Dylson. You did a very good job and what you wrote was very nice and easy to listen to. Indeed, in order for us to come to an understanding of the concept of business, we must look into the details and trifles. Well done keep it up.

      • #13425

        Parhoun Farrokhinia
        Participant

        Hi Dilson!

        What you wrote means you understood the difference between for-profit and nonprofit businesses completely. Also, you mentioned some clear and daily examples and this is perfect.

      • #13427

        Paris Curtner
        Participant

        Hi Dilson,

        I think you made a really good observation about how the term “business” has changed over the years. As well as how becoming a business owner is way more of a reality in today’s world vs in the early 1900s. I think you have a very good understanding of all the businesses that you interact with in your daily life and how they make a profit. Best of luck to you on your internship.

      • #13437

        Allah Williams
        Participant

        i agree the term business has developed significantly over time Nowadays there is so many different meanings to the word. Easy answer to understand

      • #13450

        Mubtasem Ali
        Participant

        It is interesting describing your employment as an unpaid intern at a non-profit business. It evokes the concept to me of considering yourself as a company and every interaction, service, and payment you make is between companies. Viewing yourself in this way can be fruitful for maximizing your Opportunites and financial gains.

      • #13460

        bryanna inoa
        Participant

        Hi Dilson,

        I loved reading your comment on what you use as nonprofitable businesses because I have no clue when was the last time I used one of those.

      • #13465

        Brielle Buckler
        Participant

        Dilson — is your internship unpaid, or is the business a nonprofit business? There’s definitely a difference. A company that seeks to gain profit not for a cause or charity is often a for-profit business.

        Thanks for sharing!

    • #12345

      Paris Curtner
      Participant

      According to the course hero article, a business is defined as “any kind of organization or action that creates goods or provides services.” Whether the business is trying to make a financial profit or add social value there is always a buyer and a seller. The seller being the organization or “business” selling its goods or services to the buyer or the consumer in a trade for what kind of value each party is seeking.

      As of right now I work from home full time as well as do school full time from home, so I probably get out a lot less than others and consume less businesses on a regular day-to-day than others. A typical day for me right now starts with waking up and placing my breakfast and coffee order on my phone and walking to go pick it up before clocking in for work. Using my cell phone that I pay for a monthly service plan from spectrum in order to place my online order. Also purchasing my food or “goods” from the restaurant that I feel is a good trade for the amount of money I want to spend. After that, I will go back to my apartment which I pay my landlord monthly for, and log in to my computer. I actually didn’t pay for my computer my work gave it to me. I will use my wifi to do all my assignments for the day which I also pay spectrum monthly for to use their service. Using my double monitors uses electricity that I pay ConED for every month to use their service as well. For eight hours I trade my services to my employer in return for wages. During my lunch, I will walk over to equinox that I also pay a monthly service fee for to use their gym equipment, as well as using my phone again to check in at the front desk. After work, I will turn on my TV to watch the Yankees game that I pay direct TV every month to use their services.

      There is obviously a pattern here on how I interact with businesses on the daily and monthly. On a regular day, the only type of businesses that provide goods that I interact with are food businesses that I pay for daily. Other than that I am essentially interacting with businesses that provide me a service that I use every day but pay for every month. All of the businesses I interact with are for-profit businesses, I do not do very many transactions with non-profit companies.

      • #13385

        Gal kedem
        Participant

        Hi Paris,

        You made a very precise input. The decisions you make regarding which business to make a trade with is the explanation of scarcity. It also rises from your daily business interaction analysis that with the business that you trade goods you pay directly/daily, and with businesses that you trade services, you pay monthly.

      • #13389

        Dilson Abreu
        Participant

        Hello Paris,

        You made a very good point about how sometimes businesses’ first focus is not money, some might do business to gain social value which would later open the door for them to gain profits in the future. I can imagine how difficult its to manage being a full-time college student while working a full-time job. Regarding your daily agenda, you definitely interact with profitable businesses which let you use their services in return for profit.

      • #13426

        Parhoun Farrokhinia
        Participant

        Hi Paris!

        This was a clear explanation of this topic. and also I want to say a good job to you because it’s really difficult to work full-time and study at the same time.

      • #13461

        Michael Felipe
        Participant

        Hello Paris,

        I like how your response was very detailed as you explained in great detail what businesses you interact with on a daily basis.

      • #13466

        Brielle Buckler
        Participant

        Thanks for your response, Paris. You’re right — usually when we’re commuting or going out into the world we’re interacting with more businesses, but I bet there are a ton you interact with from home as well. Food delivery services, online marketplaces, goods you have in your apartment… all of those are businesses or extensions of them!

    • #13383

      Gal kedem
      Participant

      <div class=”page” title=”Page 1″>
      <div class=”layoutArea”>
      <div class=”column”>

      Over the years, the consideration of a business has changed, just like the change in the business environment today. In the past, the word business would have related to a big successful, and profitable company, like GM. Today, the variety of businesses is much wider as it considers for-profit and non-profit businesses. For example, a child cancer charity is considered a business as well. As it is described in the Course Hero text, “A business is any activity that provides goods or services to consumers for the purpose of making a profit.” The simplest way for me to identify a business is as an organization that trades goods and services with its customers for profit.

      Every regular weekly day, I interacted with different kinds of businesses. I woke up by an alarm clock that I set on my iPhone, which I bought at Apple. Afterward, I took a shower and brushed my teeth using Head & Shoulder shampoo and a Colgate toothpaste that I purchased at CVS. CVS has contracted with these companies to buy large quantities of their products and sell them to their customers. When I was ready, I used my iPhone again, which I paid T-Mobile monthly for network and data, and ordered an Uber through the Uber app, which I paid for the convenient ride. I have used my Dell computer at the company’s office purchased at Best Buy. I ate lunch at a nearby deli, and I paid them for giving me food. When I finished my work, I went to the gym. I pay the gym monthly for being a member and being allowed to train there. In the gym, I use machines made by companies that sell fitness goods and products. When I got home, I sat down and used my MacBook that I purchased at Apple to complete my homework assignments, and I used the Wi-Fi in my apartment, which I pay Spectrum monthly for their data services. I closed my day with a homemade dinner I prepared with products I purchased in the grocery store underneath my building. This grocery has purchased its goods in large quantities from retail companies or farmers.

      All the businesses that I interact with daily are for-profit businesses. While with most of them, I interact with purchasing their goods, with the cellular companies like T-Mobile and Spectrum, and with the gym, I interact with purchasing their services. I mostly interact only with for-profit businesses during my daily routine. I pay those businesses for their goods and services daily, monthly, or year plans. Of course, the other business I interact with is my work, for which I get a monthly salary for my effort. Unlike a non-profit business like an internship or volunteering, I would receive experience or personal satisfaction in return for my effort.

      </div>
      </div>
      </div>

      • #13390

        Dilson Abreu
        Participant

        Hello GK,

        You made a very good explanation of how the term business has changed over the years. As you stated, in the past, the word business would only be used for big and profitable firms. I see that you also interact with a lot of profitable businesses weekly which for most the people that have related activities might not even be aware of how many profitable businesses they interact with every day.

      • #13392

        Mohinabonu Saidova
        Participant

        Hi GK

        Business has changed over the years. That said, you interact with so many profitable businesses every week that most people don’t even realize they’re connected to.

      • #13428

        Paris Curtner
        Participant

        Hi Gal,

        I think you made an excellent point on how the consideration of a business has changed over time, how it used to just be profitable companies but now non-profit companies are considered a business as well. I think you made a great list of all the businesses that you interact with during the week and how they make a profit from the services they provide.

      • #13436

        Allah Williams
        Participant

        i agree with your input on the behalf of business consideration you have a lot of experience with these different companies nice brief answer.

      • #13448

        Malcolm
        Participant

        Hello GK,

        I like the part where you describe what a successful business looks like today and that there is no blueprint or game-plan everyone can follow. There are plenty of small businesses we deal with daily and large corporate businesses we deal with everyday. In the market for consumers there is a space where both can be successful especially in todays social media era. Small business can use different free apps and services to market a service or product that can then reach millions and millions of new consumers. However a business successfully generates revenue is changing everyday.

      • #13449

        Mubtasem Ali
        Participant

        After reading this, I noticed how a huge gulf of the businesses interacts with every day are massive international companies, despite there being such a plethora of local businesses around us. The ones that dominate and are consistent in your life, as well as mines, are these big international companies that while do try to cater to the local demographics are generally products that are much the same throughout the country. Despite all of this, we choose to use these products and services over local ones.

      • #13462

        bryanna inoa
        Participant

        Hi Gal,

        Your take on this discussion was an interesting read, I never quite realized how many businesses we are so loyal in using their services.  Businesses are changing every day as we speak.  I wish I would know more that were non-profitable

      • #13467

        Brielle Buckler
        Participant

        Thanks for walking us through your day, Gal! I can tell you understood the assignment — and that you’re well versed in what businesses are and which you interact with daily.

    • #13391

      Mohinabonu Saidova
      Participant

      A business is any activity that provides goods or services to consumers for profit.
      Businesses can be for-profit or for-profit organizations. Business types range from limited liability companies to sole proprietorships, corporations and partnerships.

      Every regular day of the week I deal with different businesses. I set an alarm clock on my T-mobile phone to wake up to prepare my husband’s food. And I will feed him before he leaves. I myself buy curd products once a week, it is good for my unborn child. I buy different laundry soaps and liquids for laundry once a month, and I do laundry 1-2 times a week. I also pay for the washing machine. I use street transport to shop on the street or in stores. I pay once a month for my phone bought from T-mobile, and 1 month ago we connected to Verizon Fios at home, the reason for this is that my internet on t-mobile is not working well, and I pay once a month for that. We also pay once a month for cooking at home. We need gas to cook various dishes and pastries, and we will pay for it in half of the month. Currently, the weather is very hot, so the air conditioner is on at home from morning to night, and we pay for it.

      Here is a clear overview of my daily and monthly businesses and how I deal with them. The only type of business that provides goods that I interact with on a regular basis are the food businesses that I pay for on a daily basis. I absolutely do not deal with non-profit companies.

       

      • #13468

        Brielle Buckler
        Participant

        Thanks for sharing, Mohinabonu! I wonder if there are other businesses you interact with. Do you buy groceries from a store or delivery service? Do you use public transportation to get around? All of the things we do each day mean interacting with businesses in our area and at a national/international level.

        • #13475

          Mohinabonu Saidova
          Participant

          Yes, of course, I buy food from the store and from the delivery service. I use public transport to get around, sometimes it’s fun.

      • #13526

        Frances Dotse
        Participant

        I agree with you point and love how you dissected the different businesses you interact with on a weekly basis. It made it easier to understand how they are a part of our everyday lives

    • #13405

      Bekzod
      Participant

      Recently, due to stagnation in the economy, falling incomes of citizens, restrictive measures in connection with Covid-19 and other phenomena, many have begun to wonder what goods will always be in demand among the population, even if crises continue and further ease pockets and wallets . At the same time, the phrase “essential goods” is quite often used everywhere. 1. Manufacture and sale of children’s goods

      Although nipples, feeding bottles, shampoos, creams, diapers, and so on appear in the lists of the most necessary baby products, in practice the range of necessary products is always larger, so one of the interesting business ideas would be to create a general store for children and newborns, including, among other things, listed also clothes, children’s furniture, strollers, baths for bathing and so on. 2. Sale of hygiene products and household chemicals

      Essential goods include laundry and toilet soap, toothpastes and brushes, toilet paper, tissues, pads, washing powders – all of this is sold within the formats of hardware stores and groseries, which are attractive because, unlike grocery stores and general goods stores, their range does not have special storage conditions. 3. Production and sale of medical, protective, disinfectants

      During the Covid-19 pandemic, many companies got rich in the production and sale of personal protective equipment and antiseptics. But before selling such goods, you need to understand whether they are medical or not.

      For example, licenses and certifications are not required to sell reusable fabric masks with all sorts of prints, as they do not apply to medical devices.

      • #13453

        Renique Baimbridge
        Participant

        Hello Bekzod,

        I appreciate that you brought up Covid-19 and how it affected the economy because this displays how companies had to adapt to changes to fit the customers/consumers’ buying habits.

      • #13469

        Brielle Buckler
        Participant

        Bekzod, while interesting, your response does not make sense given the prompt. Can you please cite your source for this text? It seems like a copy + paste, which is strictly prohibited by BMCC. Make sure your responses address the discussion topic and answer the posed questions if you’d like to receive credit.

    • #13430

      Parhoun Farrokhinia
      Participant

      According to the video that I watched on YouTube, there was a definition for business. The definition was: “Any organization that sells goods or services in an attempt to earn profit.” So we can say that organization has to sell something. In addition, He talked about a topic that really caught my attention. It was like this: ” If you want to be a successful organization you have to provide something crucial for people and they should need the thing that you provide.”

      If I want to talk about my day, I would say I woke up early in the morning and ordered my coffee, and then made my breakfast. The things we buy from the supermarket to make breakfast are profitable for that organization. In addition, I pay my phone bill every month to use my internet and my phone. These regular things we do on a daily basis are profitable for the organizations.

      I think all the things I use in my life are for-profit businesses.

      • #13441

        Sharon
        Participant

        Good afternoon Parhoun,

        I love the fact that you brought up what makes an organization successful, that can be very helpful to those that are in the process of starting a business or has a current business that is up and running but may need an extra boost.

      • #13446

        Malcolm
        Participant

        I agree the most with the term “ any organization that sells goods or services in a attempt to make a profit is a business”. We see people and organizations everyday on the streets in NY selling clothing, sunglasses, bags, anything in general. If you are making a profit you a in term running a business. From Large corporations to small mom and pop shops. Whether your goal is Non-Profit or For Profit the same goal is trying to be obtained which is making a profit.

      • #13459

        kfran
        Participant

        Hello, that comment about providing something crucial for people caught my attention, and I agree with that statement. For businesses to work in general, it has to benefit both parties.

      • #13470

        Brielle Buckler
        Participant

        Thanks for your response, Parhoun. What other organizations do you interact with? Where do you shop? What services do you pay for? Are there any non-profit organizations you know of or use products/services from?

        • #13534

          Parhoun Farrokhinia
          Participant

          Hello Professor Brielle Buckler. If I want to give more details, I would say I eat 3 of my meals at the restaurant which is profitable for the restaurant. Also, due to the inflation in my country, I buy most of my clothes from other countries online and they send clothes to me via post. In this situation, the seller and the sender of the goods gain benefits from my purchases. I don’t use products or services from non-profit organizations. I think it’s not common in my country.

    • #13434

      Allah Williams
      Participant

      A business is an organization or enterprise that is engaged in commerce, either manufacturing or selling goods or services. There is no one-size-fits-all answer to the question of whether a business should be nonprofit or for-profit. The decision depends on the mission of the organization and the goals of the business.

      Nonprofit businesses are typically organized around a cause or a mission, such as providing healthcare or education. These businesses may generate revenue, but their purpose is not to make a profit. For-profit businesses, on the other hand, are typically organized around the goal of making money for their owners or shareholders.

      There are pros and cons to both types of businesses. Nonprofit businesses may have more flexibility in how they operate and may be able to access grant funding. For-profit businesses may have more opportunities to generate revenue and may be able to attract more investment. The decision of whether to operate as a nonprofit or for-profit business depends on the specific goals and mission of the organization..

      • #13471

        Brielle Buckler
        Participant

        Thanks for your answer, Allah. Make sure that your response addresses all the questions in the prompt. What businesses do you interact with daily, and how are those businesses categorized? Do you notice any patterns?

    • #13439

      Sharon
      Participant

      A business is any type of organization that consists of selling goods or services with the mindset or goal to earn profits. A business is also an enterprising entity that is engaged in commercial, industrial, or professional activities. It is one’s way of practice of making a living for oneself by engaging in commerce. Today some things that I engaged with were my Iphone12promax, my MacBook Air, my mitsbushi central air, a myobi oven, and an electric stove. I would consider all these things that I used to day to be non-profit businesses. I say this, because my two apple devices that I use on a daily basis was created by a man named Steve Jobs who effortlessly strived to create his own brand and he wanted to spread to different individuals and take the funds to become successful. But also since apple stocks are like a type of investments that also exists it can also be classified as for-profit. The mitsbushi central air is considered a non-profit because this a company that is selling ac units to consumers that can not get regular modern day window acs, this company is also solving a problem that most households suffer with. the Myobi oven and electric stove are considered non-profit businesses to because they are also both relying on individual consumers to help make their profits.

      • #13472

        Brielle Buckler
        Participant

        Thanks for sharing, Sharon. What other businesses — other than the products you listed — do you interact with regularly? Do you volunteer or make donations? What about attending BMCC? Where do those fit in?

    • #13442

      Malcolm
      Participant

      A business is any activity that provides goods or services to consumers for the purpose of making a profit. Businesses in the social media era that we live in now utilize so many different ways to reach new audiences to sell a service or product as the outline for starting and successfully running a business has changed When you think of different businesses I interact with everyday like riding the Metro North going to work, using my phone to purchase my train ticket, drinking my muscle milk that I purchased from the bodega, using the Nike app on my Apple IPhone to buy new clothes.

      The simplest things we do have been formatted into a money maker for someone. The laptops I use to do work, phones, zoom meetings, watch T.V and video games all have been accounted for in a robust market for different Corporations to make millions off of the everyday person. Based on my list the business I interact the most daily would have to be the Metro North or Apple. The service Metro North provides me everyday to get to the city for work or school makes it the business I am guaranteed to interact with everyday. Second would be Apple since I use my IPhone and Mac to do just about everything including this class, store information, memories and pictures. The pattern for me is I like simple and a routine thats defined. Everyday I am up by 6:15 and on the train into the city by 7:00. To make that process simple and have everything synced having apple products makes my busy life easier at times.

      The businesses on my list would be described as Non-Profit. They all sell a service or product that is used to generate money for they’re own business and shareholders. I’m sure Apple, Nike and stores like Nordstrom or Zara where I get my work outfits from do have non profits they support but they’re main focus is generating revenue for the company.

      • #13454

        Renique Baimbridge
        Participant

        Hello Malcolm,

        I liked your statement, “The simplest things we do have been formatted into a money maker for someone.” Everything is a business, and we do not go a day without interacting with a good/service manufactured by an organization. We go to sleep in our beds(goods), we put on our clothes(goods), or even call our parents on our phone(goods), and our provider, whether it be t-mobile, Verizon, etc., benefits from that because of the service they are providing us.

      • #13473

        Brielle Buckler
        Participant

        Thanks for this overview, Malcolm! I think you’re right — we all interact with both for-profit and non-profit organizations every day.  How do you think your mix of non-profit and for-profit might change over time?

        • #13561

          Malcolm
          Participant

          As i think i about my response Professor I do utilize some non profits such as the Salvation Army and Goodwill giving away clothes that I have outgrown. As I become successful I would like to become more involved in Non-Profits and being able to raise money towards helping people.

    • #13443

      Malcolm
      Participant

      Disregard

      • This reply was modified 2 months ago by Malcolm. Reason: Supposed to be a reply
      • This reply was modified 2 months ago by Malcolm. Reason: Supposed to be a reply
    • #13447

      Mubtasem Ali
      Participant

      A business to me is any operation with the goal of achieving any goal, whether that be financial or not. Businesses convert resources and create more value than the resource on their own, these resources become goods or services. These businesses typically feel or create a new vacuum of demand to fulfill. Everybody interacts with businesses every day, for me, some of these usually are the local deli, MTA, and various computer applications.

      On a typical day, I interact with software services and technologies the most. I use Microsoft products extensively every day, from my computer operating system to applications like Word and Excel. These technologies are typically for for-profit businesses. I also interact with many non-profits like online libraries that use local non-profit libraries to loan out books. These libraries aim to add value to the world through access to education and other resources. Services I use and need are, my Internet service provider Optimum, DoorDash, and Instacart. These services save me time and allow me to focus on the things I want to do and produce.  Outside of the space of my computer the various delis and supermarkets I interact with are creating value and access to goods for us local customers. Furthermore, they give jobs to the local community and improve the economic landscape of the neighborhood. Without economic activity this place would not function and would likely have far fewer inhabitants, these various businesses operating create value, work, and services that allow this piece of land to be a viable and fruitful place for people to live. I would say most of the businesses I interact with are for-profit, despite interacting with non-profits like the MTA and BMCC; the vast majority of technological applications food, and services I use are provided by for-profits businesses.

      • #13474

        Brielle Buckler
        Participant

        Thank you for this overview, Mubtasem! It seems like you really grasped the assignment and did a thorough job of reviewing your own interactions and categorizing the businesses you identified.

    • #13451

      Milagros Rodriguez
      Participant

      According to The Balance Small Business, A business is any entity that seeks to profit from an activity.<sup>1</sup> Business is a broad term, but these profit-seeking activities generally include providing some kind of good or service that people want or need. Businesses may experience a loss, but that doesn’t stop them from being a business. All that’s important—from the standpoint of defining a business—is that the entity seeks to profit from what it does.  By brainstorming for this assignment, I came to the realization that as time and society advances, all we do is to generate profits for enterprises. As in this week, as an example Monday I used google maps since I drive a Hyundai I move around a lot and gas prices are increased I downloaded gas apps to earn rewards by paying for gas. I used my apple devices to do homework assignments, phone calls, social media presence, electronic devices have a heavy presence in my life, honestly. Starbucks purchases. Not that we can sense the spending every day from monthly subscriptions as Netflix, Kindle, HBO Max, Disney+, Apple TV+ Apple Music, Amazon, I don’t consume their content on a daily basis, but I pay for them monthly. The same as the Gym subscription. Going to do errands for example, going to Trader Joe’s Mondays being the designated day to purchase once or twice every two weeks, target, stop and shop. Shopping online as Amazon and Prime Day just happened and certainly generates profits. Grocery stores, as well. There’s a pattern by the ongoing exchange of services, products, and benefit.

      • #13456

        kfran
        Participant

         

         

        Hello Milagros,

        I want to say your answer was well said! This just makes me realize that in everything we use, there is a profit, whether it be food, transportation, clothing, education, etc.

      • #13476

        Brielle Buckler
        Participant

        You’re right, Milagros. We do spend a lot of time and money interacting with for-profit businesses. We’ve become reliant on delivery services and technology to get us through our days. Thanks for sharing!

    • #13452

      Renique Baimbridge
      Participant

      What is a business?

      There are many definitions for the term business. However, it can best be described as an organization that provides goods or services to customers/consumers, whether for-profit or non-profit. According to the text, “the world of business can be summed up in a single word: change.” I agree because everything is a “business.” The economic environment plays a massive part in this. As the world changes, organizations have to adapt to survive.

      Every day I interact with for-profit businesses. I work at a freight forwarding/Customs brokerage company that provides the service of importing/exporting goods on behalf of a client and clearing shipments entering the country. This company’s primary goal is to provide customer service, and the profits go back to the company and the owners of this company. By definition, I would also consider myself a for-profit business because I provide a service to my employer to which the taxable income earned is going solely to me. I encounter non-profit “businesses” every day on the subway. They may not be official, but they are businesses. The lady who sells face masks(goods) for her kid on the train is running a non-profit because the generated revenue is going towards the child and contributing to that child’s life. Another non-profit business I encounter is the pantry. The pantry accepts contributions, and that revenue provides food and resources to those who need it.

      • #13477

        Brielle Buckler
        Participant

        Thanks for sharing, Renique. I’ll challenge you to think about the woman on the train selling masks — her “business” or sales are geared toward making money so that she can care for a child but she is aiming to make as much money as possible (for-profit). A non-profit would be if she were working for the Ronald McDonald House Charity and selling masks to benefit the cause. Does that make sense?

    • #13455

      kfran
      Participant

      As stated in the course hero article, “Business is everywhere.” A business is a duplicative procedure that designs and offers something of value. A company can be a for-profit or nonprofit organization that performs to accomplish a munificent task. To simplify, it can be a service to the individuals in exchange for cash. I, unfortunately, do not get out much, and due to that, I stay indoors more often. While I am indoors, I do have the speaker that I bought from Amazon to wake me up in the mornings to start my day when it is time for me to begin my classwork and homework; I use my HP Laptop, iPhone, and iPad to take down notes, study, and hand in work. To use all of this technology to enable me to get what I need to do, I use Tmobile to pay my phone bill, and I use Optimum to access Wireless Fidelity (wifi). I would consider these businesses for profit because they sell and provide goods & services to customers like me that I use daily, and they use the profits to pay their employees for their work.

      • #13478

        Brielle Buckler
        Participant

        Thanks for your response. Do you notice any trends in the businesses you interact with daily? Are you using more goods- or services-oriented businesses? Make sure to answer all the questions in the prompt.

    • #13457

      Michael Felipe
      Participant

      A business can be described as an organization or enterprising entity engaged in commercial, industrial, or professional activities. A business holds the purpose of providing goods and services for their buyers. Most of the time, businesses are for profit as they wish to gain profit from selling you their product but can sometimes be non-profit organizations. Non-profit businesses usually have the goal of fulfilling a charity instead of receiving something in return.

      I interact with many businesses everyday of the week in order to do things throughout the day. Yesterday, I woke up with an alarm on my iPhone which was produced by Apple. I got myself ready and then went outside to buy breakfast at a food store that sells sandwiches. After eating breakfast, I headed on over to the gym which I pay a monthly membership for. Then, I went to go see my cousins and used the train to get to them. To get on the train I had to use my metro card and pay a $2.75 fee. Once I met up with them, we went to a restaurant where we paid so we could be served lunch. Another thing to mention is that I’ve been having to use my phone all day where I pay my phone carrier AT&T for cellular data. Lastly, when I got home I did my homework on my laptop and watched TV. To do these two things I have to pay my service provider Optimum monthly. From this you can tell that in my day to day life I have to deal with many businesses so I can be provided with goods and services I need during the day.

      I can certainly see a pattern with the businesses I interact with daily. This is because everyday I buy food, use WiFi, go to the gym and use public transportation. At this moment, I don’t deal with any non-profit organizations. Every business I interact with is for profit as they all ask for money in return for providing me with their services.

      • #13479

        Brielle Buckler
        Participant

        Thanks for your response Michael. Just a reminder: a business is not for-profit simply because they charge you. Make sure to go back and confirm that you understand the difference between for-profit and non-profit businesses.

      • #13527

        Frances Dotse
        Participant

        Hello Malcolm,

        Reading your response made me realize how similar most of the average New Yorker’s daily schedule is. We all do the same yet different things. I agree with your closing sentence. Majority of businesses now are for profit

    • #13458

      bryanna inoa
      Participant

      A business is an organization that engages in professional or commercial activities.  Businesses can be both nonprofit or profited, so these businesses provide goods and services to consumers.  Some goods and services could range from clothing to tv subscriptions online. Businesses can be sole proprietorships, corporations, and partnerships.

      In my day-to-day life where I use profitable businesses goes like this.  I start off by using my phone which is connected to my provider T-Mobile.  I use their service to be able to use all of my apps such as Instagram, Tiktok, Snapchat, etc.  In order to use T-Mobile as my provider, I have to pay a monthly bill of $90 to get my Data going.  Next, after I leave the house I utilize another profitable business, Dunkin where I buy my $5 coffee and sandwich wrap every morning.  Then, I make my way to the train where I pay the MTA $2.75 to use their service of transportation for work.  I then make my way to work at Sunglass hut, where I work about 8 hours a day to receive my bi-weekly income.

      I have no recollection when it comes to using many non-profitable businesses in the past.

      • #13464

        Michael Felipe
        Participant

        Hello Bryanna,

        I see that you and I have in common that we haven’t dealt with any non-profitable businesses in in the past or currently.

      • #13480

        Brielle Buckler
        Participant

        Thanks for sharing, Bryanna. What are the trends you notice about your own interactions regarding goods versus services?

    • #13525

      Frances Dotse
      Participant

      In my day to day life, I interact with a number of businesses. Majority of them serve different purposes but together, they contribute a great deal to making my life function with ease.
      Most of them being for-profit organizations means they provide a service which I deem necessary and subscribe too. Usually, there’s a monthly bill charged to my account for services rendered to me. These businesses are: ConEdison, T-Mobile, Chrysler, Optimum. ConEd provides me with water and electricity which I deem as most important, Optimum is my internet provider which allows me to access certain applications via WiFi. T-Mobile being my phone provider offers me to opportunity to call, text, surf the web, and create hotspots when I am not around wireless networks.
      My local supermarket is another for profit business I use weekly or biweekly. I use Uber as a means of transportation when public transportation isn’t available or the option to drive isn’t viable. After assessing the types of businesses I interact with, I’ve realized that majority of us are subscribers of for profit companies. The closest thing to a not for profit business I utilize would most likely be: farmer’s market, local taco truck/stand, the fresh produce sellers around the corner.

Viewing 17 reply threads

You must be logged in to reply to this topic.