Introduction to Business Lecture Notes:Competitive Environment:Competition is not only locally but also globally Meeting Customer Expectations- We expect good quality and service for a reasonable and fair price.Restructuring- it used to be that only people at the top would make decisions. Now through Empowerment more front line workers have more responsibility and authority to make certain decisions so that they are able to decide customer wants.Demography- Study of a population about its size density and characteristics such asage, gender, income, race, ect. The RISE of U.S Population:Businesses need to pay attention to how society is changing so they can adjust their business. U.S Population Changes:-Businesses need to adjust to peoples and employees changing needs.-By seeing things from their customers and employees point of view they are able to do so.Worried About Social Security?Have your main goal to save for retirement and not just depending on social securityso much.Important Changes to the Global Environment: Growth of global competition: Improvement in communication devices and advanced technology has resulted in globalization. Free Trade: Countries can trade with each other without facing any political or economic barriers. It makes it easier for businesses to trade with each other. Increasing Costs of the Global Environment: -Wars, like those in Iraq and Afghanistan, cost billions of dollars.-Cost of security goes up.-Costs of insurance goes up as well.Global Greening: Businesses are agreeing to do their part to reduce the carbon admission and helping with pollution. They are also seeing a huge saving by “being green”.Getting Involved Personally (Thinking Green):Buy a reusable grocery bag.Buy energy efficient light bulbsRecycle moreDrive fewer miles or ride your bike placesUse less waterRun less electrical equipment Buy local produceBuy a hybrid carThe Evolution of Business: The 1800’s we had agricultural error, people mainly farmed or worked on farms.The 1900’s were the invention of the harvester and the cotton gin. Many people were laid off and replaced by machines. Jobs became primarily needed in factories. The United States became a Manufacturing societyJobs declined in manufacturing jobs due to technology advances.The 1970’s when the U.S became a service economy.2000 to now- We are currently in an Information based ear. We want quick access to information, it’s very important.Information is now used in all areas; agricultural, manufacturing, and