Download First Wrap-Up

Introduction to Business
First Wrap-Up: October 17, 2008
Basics
> What’s a business?
Profit vs. Non-Profit
> Factors of Production
Capital / Labor / Land (Resources) / Entrepreneurship
> Manufacturing vs. Services Industries
> Capital Intensive vs. Labor Intensive
> Economics
Microeconomics vs. Macroeconomics
> Economic Systems
Planned vs. Free Market Systems
2
Microeconomics
> Supply and Demand
Changes in Demand
> Changes in Demand
Price / Income / Expectations / Substitute Goods
Complementary Goods
> Equilibrium Point, Price and Quantity
3
Macroeconomics
> Free Market Competition
Pure Competition / Monopolistic Competition /
Oligopoly / Monopoly
> Competitive Advantage
Cost Leadership vs. Differentiation
> Economic Indicators
4
Ethics
>
>
>
>
>
5
Ethics vs. Social Responsibility
Factors Influencing Ethical Behavior
Being Legal vs. Being Ethical
Ethical Dilemma vs. Ethical Lapse
Corporate Social Responsibility - Methods
Global Economy
>
>
>
>
>
Why do nations trade?
Absolute Advantage vs. Comperative Advantage
Balance of Trade vs. Balance of Payments
Free Trade vs. Fair Trade
Trade Restrictions
Tariffs / Quotas / Embargoes / Subsidies
> Trade Organizations
GATT / WTO / IMF / World Bank
> Trading Blocks
NAFTA / EU / ASEAN / World Bank
> Going International, Opportunities & Challanges
6
Starting a Business
>
>
>
>
>
>
Business Ownership
Sole Proprietorships / Partnerships / Corporations
General Partnerships vs. Limited Partnerships
Limited vs. Unlimited Liability
Going Public, Advantages & Disadvantages
Corporate Governance
Shareholders / BoD / Corporate Officers / Employees
> Mergers & Acquisitions
> Strategic Alliances & Joint Ventures
7