1. Businesses and their environment

A vision statement describes what a company desires to achieve in the long-run, generally in a time frame of 5 to 10 years

A mission statement is a concise explanation of a company's purpose. Why it exists, what purpose it serves and how it does it.

This is the exchange of goods or services between multiple parties.

This includes legal, economic, social, cultural and technological ecosystems

Goods are tangible products that can be seen, touched, felt or consumed

Services are activities or tasks that someone perfoms for someone else in exchange for money or value. They are intangible, you cannot touch or store them

A business is a managed system of activities and resources organized to produce goods or services for customers and generate income through sales, investments, or other operations.

A stakeholder is any individual or group that has an interest in or is affected by the activities, decisions, or outcomes of a business.

A shareholder is a person or organization that owns shares in a company, giving them partial ownership, voting rights and potential dividends.

CSR is a company’s commitment to creating positive social and environmental impacts for its stakeholders while maintaining profitable and sustainable business operations.

An index that measures how happy and satisfied people are, based on intangible things like health, education, freedom and overall well-being.

Standard of living refers to the level of wealth, comfort, material goods and necessities available to a person or group, typically measured by tangible factors like income, housing, healthcare and access to services.

Risk is the possibility that actual outcomes or investment returns will differ from expectations, including the chance of losing some or all of the original investment

ROI is a financial metric that measures the profitability or efficiency of an investment by comparing the gain or loss generated to the amount of money invested.

Revenue is the total amount of money a business earns from selling goods or services before any expenses are deducted.

Cost is the total amount of money spent by a business to produce goods or services