Principles of business management

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Chapter 1 BUSINESS AND ITS CHALLENGES Johan Strydom PPurpose of this chapter This chapter explains the basic concepts (ideas) on which a business is built, such as prot, the economic principle and the factors of production. It also explains the basic economic systems in which businesses operate, and describes the importance of corporate social responsibility in the running of a business. This chapter provides a key to unlocking the fascinating subject of business management at an introd...

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