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The Business Environment in Today’s Economy

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The Business Environment in Today’s Economy
Lisa K. St. Clair
Strayer University
BUS 100
February 7, 2013
Professor Jerome Newman

The Business Environment in Today’s Economy
Our economy is made up of financial and social systems which depend on the flow of goods and services that businesses provide. The vast majority of enterprises in the United States are made up of individuals, businesses, and nonprofit organizations. Various departments of the government own a number of major enterprises including the military, universities, postal services and national parks. The mix of both free enterprise and government owned enterprises is known as mixed economics. The quality of life in our society is impacted by value that these businesses bring to our economy. This can be measured in monetary value and also by assessing the standards of living in our economic system. (Kelly/McGowan, 2012)
The Role of Business
The actions of businesses or organizations can positively influence our economy or can cause devastating effects. The direct result from businesses that practice greed and unethical choices contributed to the U.S. economic collapse in the fall of 2008 (Permanent Subcommittee on Investigations , 2011). In the wake of this economic crisis many business and organizations were forced to rethink their strategies and invest in technological advances as a way to improve standards of living and continue to earn a profit. Businesses must not only continue to focus on keeping the current customers but must also contribute in areas of advances in technology in order to be competitive in today’s global environment. Social media is a valuable and growing tool for consumer communications. The advancements in medical technologies are helping to contribute to new ideas and innovations which have short term and long term impacts for the economy. Environmental

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