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Introduction to Business

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

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Introduction to Business

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  1. Introduction to Business First Wrap-Up: October 17, 2008

  2. 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

  3. Microeconomics • Supply and Demand • Changes in Demand • Changes in Demand • Price / Income / Expectations / Substitute Goods • Complementary Goods • Equilibrium Point, Price and Quantity

  4. Macroeconomics • Free Market Competition • Pure Competition / Monopolistic Competition / Oligopoly / Monopoly • Competitive Advantage • Cost Leadership vs. Differentiation • Economic Indicators

  5. Ethics • Ethics vs. Social Responsibility • Factors Influencing Ethical Behavior • Being Legal vs. Being Ethical • Ethical Dilemma vs. Ethical Lapse • Corporate Social Responsibility - Methods

  6. 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

  7. 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

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