ABSTRACT

This chapter outlines what the course and textbook are all about. It explains how taking this course and reading this textbook can benefit your personal and professional lives. It also illustrates how business, society and government influence each other and you. After studying this chapter, readers should be able to characterize business, society and government and explain their interrelationships. They should also be able to differentiate the market and nonmarket environments and state how they influence each other, explain the nonmarket society and government environments and how they affect business, and contrast the political and legal environments. Readers will be able to discuss the role of business and its managers, including stakeholders; define “strategy” and other key terms; differentiate market and nonmarket strategies; and describe the need to integrate them.