Copyright 2004 South-Western. All rights reserved. 4–3
Key Terms
human resources information system information technology management manager marketing natural resources nonprofit organization
Copyright 2004 South-Western. All rights reserved. 4–10
Resources Used to Produce Products or Services
Natural
resources Human resources Capital Entrepreneurship
Copyright 2004 South-Western. All rights reserved.
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Entrepreneurship
The creation of business ideas and the willingness to take risk The act of creating, organizing, and managing a business Entrepreneurs are people who organize, manage and assume the risk of starting a business.
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Capital
Machinery, equipment, tools and physical facilities used by a business Technology improves capital by helping to produce products and services more quickly and at a higher quality. Information technology, as a subset of technology, enables information to be used to produce products and services.