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Introduction to Business

Introduction to Business. 471.13 2 Winter 2012. To do by today read syllabus ch 1 &2 find. Remember?. Syllabus. Course description Course objectives Course texts Additional Sources. Syllabus. Course requirements Preparation Participation Business plan Quizzes

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Introduction to Business

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  1. Introduction to Business 471.13 2 Winter 2012

  2. To do by today read syllabus ch 1 &2 find Remember?

  3. Syllabus • Course description • Course objectives • Course texts • Additional Sources

  4. Syllabus • Course requirements • Preparation • Participation • Business plan • Quizzes • Reading assessments • Final exam • Assignment formats

  5. Syllabus • Grading summary • Group work • Individual work

  6. Syllabus • Course policies • Class attendance • Late assignment • Plagiarism • Missed exams • Technologies • Schedule Forms Absence Submission

  7. find

  8. chapters 1 & 2 “3 things I didn’t understand”

  9. Economic Environment • 3 issues • Stability • Growth • Employment What’s missing?

  10. Economic Environment • stability • business cycle • inflation • measuring • cpi “Widespread price increases in an economic system.” ? “Prices of typical products purchased by consumers.”

  11. Economic Environment • Issues • Stability • Growth • Employment • Fairness

  12. Economic Environment • Growth • How to measure it • GDP • Aggregate output • Productivity • Standard of living

  13. Economic Environment real GDP per capita • Growth $30,000 $20,000 $10,000 $0 1820 1840 1860 1880 1900 1920 1940 1960 1980 2000 Angus Madison, Historical Statistics of the World Economy: 1-2008 AD http://www.ggdc.net/maddison/Historical_Statistics/horizontal-file_02-2010.xls

  14. Economic Environment • Issues • Stability • Growth • Employment • Fairness

  15. Economic Environment • Employment • unemployment • % actively seeking work

  16. Economic Environment unemployment 30% 20% Canada US 10% 0% 1920 1930 1940 1950 1960 1970 1980 1990 2000 2010

  17. Economic Environment • Employment • unemployment • types • frictional • seasonal • cyclical • structural

  18. Economic Environment • Employment • unemployment • if high • “What if the government tries…” • pg 40

  19. Economic Environment • Employment • unemployment • if low • shortage of labour • wages tend to rise • lots of consumers “Full Employment”

  20. Economic Environment • Issues • Stability • Growth • Employment • Fairness • “Gini Index” • Conference Board of Canada • http://www.conferenceboard.ca/hcp/hot-topics/canInequality.aspx#anchor2 • http://www.conferenceboard.ca/hcp/hot-topics/worldInequality.aspx#anchor6a

  21. Economic Environment • Issues • Stability • Growth • Employment • Fairness

  22. Environments • economic • technological • socio-cultural • global • political-legal

  23. Technological Environments • trends • Information revolution(s) • enhanced productivity • Technological breakthroughs • emerging new industries • Increasing globalization • larger markets • tougher competition

  24. Socio-Cultural Environments • trends • aging • diversifying • increased spirituality?

  25. 100% 50% 0% 1990 2010 Global Environments • Canadian exports $600 all $400 to US $200 billions of $Cdn $0 1990 2000 2010

  26. Political-Legal Environments • trends • quieter? • reduced business visibility in politics? • louder? • involvement of public?

  27. Environments • economic • technological • socio-cultural • global • political-legal • capitalism itself

  28. The market decides (mainly) What’s available to buy How much things cost How much money each of us has We decide (mainly) What we work at What we spend our money on Capitalism

  29. Capitalism the unmentioned environment price $ # supply

  30. Capitalism $ price # supply

  31. demand $ supply # Capitalism • Is this • a model • that distorts reality? • of how things are? • of how things should be?

  32. demand $ supply # Capitalism • Results • market decides • things some of us value disappear • things some of us don’t like flourish • there is more wealth to go around • it isn’t evenly distributed

  33. demand $ supply # Capitalism • Humans are • sentimental • cruel • irrational • loving Is the market?

  34. demand $ supply # Capitalism • Is this • a belief system? • a rival to Christianity? • the best possible world? Market failure?

  35. org environments what are they economic technological socio-cultural global political-legal Why care? Canada now Sick or healthy? What’s coming? ch 2 Learning Objectives

  36. Canada’s Health

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