What exactly is a business? A business is any legal entity that attempts to profit off of an activity. In the United States alone there are billions of dollars being made yearly by legal entities such as hotels, restaurants, retail stores, etc. Business is also a very broad term, but those profit Seeking activities typically consist of giving some type of service or product that individuals need or desire. It could be in the form of a physical product or service, but it can also be in the form of a solution to a problem that someone needs to have solved.
So, what is business and how does it affect us? Basically, the main aspect of business is that it is an attempt to make money. This is done by the corporations by creating, marketing, advertising, or selling their products or services. In order for a corporation to make money, it must be able to provide an effective solution to a particular person’s problem, or if the problem cannot be solved at all, then that solution should be implemented and managed. Corporate Human Resources is very important to the success of any business because human resources are basically the determining factors of how well a business will be run, as well as how successful it will be overall.
The process of hiring, firing, paying, and benefits are all areas of business that corporations deal with on a daily basis. There are many areas in which corporations have to use human resources in order to properly operate and grow as a company. A corporate strategy course should teach students the importance of hiring the right employees for the right job, and the importance of having an efficient work environment. Corporations are faced with many decisions every day that they must make, and a good business plan must be used to help guide those decisions through the correct channels. As students continue to learn about the different areas of business that they will likely experience in their career, they should also begin to develop a good working knowledge of human resources and corporate strategy.