The Business Environment Describe the role of business in the economy.
A business is any activity that provides goods and services in an effort to earn a profit (Kelly / McGowan). The economy of the country depends upon the employment provided by big and small businesses and produces the goods and provides the services upon which we rely on in our daily lives. Businesses pay taxes to the government and allow the government to function on the tax collected from them. Hence business is the pivotal part of economy. “It is now a widely held view that a new era has dawned in which businesses must adopt a new conception of their mission, purpose and conduct, by endorsing and implementing corporate social responsibility. In The Role of Business in the Modern World, Professor David Henderson argues that now, as in the past, the primary role of business is to act as a vehicle for economic progress. This role depends upon business enterprises operating within the framework of a competitive market economy (David Henderson, “The Role of Business in the modern world, The Enterprise Institute).”
Compare and contrast the roles of for profit and nonprofit organizations in the economy.
Nonprofit business, like establishments that employ people and produce goods and services with the fundamental goal of contributing to the community rather than generating financial gain (Kelly / McGowan). Nonprofit organizations have to be present in the economy to create services and goods that are necessary for people but, are not profitable for companies to produce them. For-profit organizations pay taxes to government and in doing so that makes it possible for nonprofit organizations to fulfill their role in the economy. Both business and nonprofit rely on factors of production; natural resources, capital, human resources, and entrepreneurship?
Discuss the impact of current fiscal and monetary policy on the economy.
The fiscal policy refers to government efforts to influence the economy through taxation and spending decisions that are designed to encourage growth, boost employment, and curb inflation. Clearly, fiscal strategies are closely tied to political philosophy. But regardless of politics, most economists agree that lower taxes can boost the economy by leaving more money on people’s pockets for them to spend or invest. Every year, the government must create a budget, or a financial plan that outlines expected revenue from taxes and fees, and expected spending (Kelly / McGowan). Monetary policy refers to actions that shape the economy by influencing interest rates and the supply of money. The Federal Reserve essentially the central bank of the United States manages U.S monetary policy.
Select a product or service with which you are familiar and outline a strategy for accessing global markets.
The product I choose is sunscreen. The strategy for accessing the global market would be to inform the consumer of how and why sunscreen is so important in our daily life. With changes in the environment and global sunscreen has become more important and plays a big part in skin care. Without sunscreen protection your changes of developing a skin cancer increases dramatically. By informing the consumer of this I would then place the sunscreen product in the global market for use.

Select an organization and which you are familiar and discuss the impact of that organization’s level of social responsibility on a stakeholder group of your choice.
The organization I chose is the company I work for, a Dermatology practice. As a practice we provide free skin cancer screenings every year to people in our community. The level of social responsibility that we provide is very important to us. We provide these screening for our stakeholders and community to help the awareness of skin cancer.

References
• Kelly / McGowan. (4th edition, 2012). Business, Cengage Learning
• Henderson, David. (November 14, 2004). Competitive Enterprise Institute. In The role of business in the modern world. Retrieved January 29, 2013, from http://cei.org/studies-books/role-business-modern-world-progress-pressures-and-prospects-market-economy.