After reading this chapter, you should be able to answer these questions: (7/6) -- Introduction to Business Administration

After reading this chapter, you should be able to answer these questions: How do businesses and not-for-profit organizations help create our standard of living? What are the sectors of the business environment, and how do changes in them influence business decisions? What are the primary features of the world’s economic systems, and how are the three sectors of the U.S. economy linked? How do economic growth, full employment, price stability, and inflation indicate a nation’s economic health? How does the government use monetary policy and fiscal policy to achieve its macroeconomic goals? What are the basic microeconomic concepts of demand and supply, and how do they establish prices? What are the four types of market structure? Which trends are reshaping the business, microeconomic, and macroeconomic environments and competitive arena? Exploring Business Careers Team Rubicon: Disaster Relief and a Sense of Purpose Accounting for a substantial amount of economic activity in the United States, not-for-profits are an undeniable force in the business world, even though their focus on goals other than profit falls outside the traditional model of a for-profit business. But it is this shift away from a focus on profit that allows them to pursue missions of social improvement and contributions to society as a whole. To be truly effective in a not-for-profit organization, a person must share the organization’s vision. The vision for Team Rubicon was shaped by its cofounders, Jake Wood and William McNulty, who saw the devastation caused by the Haiti earthquake in 2010 and sprang into action. Both marines, Wood and McNulty knew they could do something to help in this devastating and chaotic situation. Within 24 hours, they enlisted the help of six other military veterans and first responders, gathered donations and supplies from friends and family, and made their way to Haiti to help with disaster relief, and Team Rubicon was born. The organization gets its name from the Rubicon, a river in northern Italy that Julius Caesar and his troops crossed on their epic march to Rome, with the river marking the point of no return. The name underscores the cofounders’ experiences during the Haitian disaster, where despite advice from government officials and other aid organizations not to proceed, their small team crossed into Haiti from the Dominican Republic carrying crucial gear and medical supplies to thousands of earthquake victims. Seven years later, Team Rubicon’s mission is twofold: to pair the skills and experiences of military veterans with first responders to hit the ground running in any type of disaster and to provide a sense of community and accomplishment to veterans who have served their country proudly but may be struggling as a result of their war experiences. According to the organization’s mission statement, Team Rubicon seeks to provide veterans with three things they sometimes lose after leaving the military: a purpose, gained through disaster