History simply is anything that happened in the past. From the JFK shooting to someone bouncing a check. If it happened it is history. History will have a huge impact on the way I run my business. It will be the knowledge base for a lot of the ideas and concepts that I will put into my business. Things such as what type of machines and hours people prefer to work out in. To what types of advertisement people respond and who in the past pays their bills and who doesn’t.
History effects how criminal justice and economics play in my business. If the history of a part of town is that it is full of crime then that would not be a good place to have my business. If no one has done anything to help that neighborhood then it gets a reputation for being a bad place to be and people will shy away from it even if it is good. History of economics in the fitness center business has already set a going rate for that type of service. If I were to charge a lot more that people have in the past then my business will more than likely flop.