Research and Development Programs

          No overview of our business world would be complete without noting the research that propels our extremely technical society. Much research is sponsored by government agencies and grants. Universities also support large research endeavors. Business firms make their contribution to the future by maintaining research laboratories to search for neew materials, new uses of existing materials, new products, solutions to problems, and better ways to serve human needs and desires. The total employment and expenditures involved in business research are vast and growing: we shall examine this key segment of the business world.

Attorneys

The legal profession contributes to the business world by supplying most of our legislators, who set the legal framework of business operations and for us as individuals. Such a framework is essential in a society that operates through a system of laws designed to protect the rights of individuals. Business firms need the same protection. Most large firms have a permanent staff of attorneys working in their legal department, while small businesses retain an attorney on a fee basis or hire one when needed. Most of the laws governing business are now gathered together in the Uniform Commercial Code, but conflicts often require legal settlement. The organization of business firms has many legal implications, a subject explored.

Medical Personnel

The medical profession serves business by maintaining the health and well-being of employees at all levels. The availability of health services within our business firms has reduces injuries and illness among employees. For example, in 1976 the medical profession forecast the danger of a swine flu epidemic, which led the federal government to support a vast inoculation program. Many health and safety regulations in industry can also be credited to the efforts of medical personnel on the job.

Accountants

Accountants are indispensable to the business world. They keep track of the events of business, and they provide the reports needed to manage daily operations. Government regulations and taxation requirements have increased the demand for accountants in recent years. We shall look more closely more closely at accounting for business.

Engineers

Various types of engineers are essential to the development and maintenance of the business world. Design engineers provide the foundations for our products, civil engineers design our highways and other construction, architectural engineers design our buildings and homes, aeronautical engineers plan and maintain our space industry and air lines. Engineers head production lines and distribution systems. Mechanical engineers keep the industrial plants operating. Modern engineering schools have majors in each of these fields. The total concepts of engineering is fundamental to our business world in so many ways.