Role+of+Business

=The Role of Business= This diagram puts together a range of ideas about the role of business in our economy:



> Consider both online (virtual) and physical (real-world) businesses. > >
 * Copy down the Role of Business diagram.
 * 1) Add 5 more roles that businesses may take in the Australian economy.
 * 2) Try to add 3 roles that businesses are expected to take in the international arena.
 * 3) Think of the current crisis in Japan, recent flooding in Queensland and the political unrest in the Middle East. Give 3 examples of what roles businesses are expected to perform in such extreme situations.
 * Businesses have a primary goal: making a profit. For nonprofit businesses, that profit happens to be zero -- that is, the "nonprofit" makes enough revenue to exactly cover its costs.
 * 1) What other goals / objectives do businesses have?
 * 2) What is the difference between a social role (above) and a business goal?
 * 3) Who sets these roles and goals?
 * 4) There may be conflict between social roles and goals (eg a tobacco company's drive for profit vs. its social responsibility to health of customers) Describe 3 different ways in which such conflicts may be negotiated or resolved.
 * Read [|Economy to Slow] and [|High house prices make economy vulnerable>]
 * 1) While reading the articles, consider your chosen (assignment) business.
 * 2) Draw up a SWOT analysis table and fill in Strengths, Weaknesses, Opportunities, Threats for your chosen business in these recent developments. Particularly consider: vulnerabilities in finance /credit, property ownership or rental, ability to attract /retain staff, prospects for expansion of the business.