Unit 1 Intro to Business

Unit 1 Chapters 1, 2, 5 and 6
Date Assigned: 3/18/2013
Date Due: 04/05/2013
Chapter 1
Taking Risks and Making Profits within the Dynamic Business Environment
 Upon completion of this chapter you will be able to:
  1. Describe the relationship between profit and risk, and show how businesses and nonprofit organizations can raise the standard of living for all.
  2. Compare and contrast being an entrepreneur and working for others.
  3. Analyze the effects of the economic environment and taxes on businesses.
  4. Describe the effects of technology on businesses.
  5. Demonstrate how businesses can meet and beat competition.
  6. Analyze the social changes affecting businesses
  7. Identify what businesses must do to meet global challenges, including war and terrorism.
  8. Review how past trends are being repeatied in the present and what those trends mean for tomorrow’s college graduates.
Reading  Chapter 1
Powerpoint Chapter 1 ppt
Chapter 2
Understanding Economics and how it affects business
 Upon completion of this chapter you will be able to:
  1. Explain basic economics
  2. Explain what capitalism is and how free markets work.
  3. Compare socialism and communism.
  4. Analyze the trend toward mixed economics.
  5. Describe the economic system of the Unitesd States, including the significance of key economic indicators (especially GDP), productivity, and the business cycle.
  6. Contrast fiscal policy and monetary policy, and explain how each effects the economy.
Chapter 2     Chapter 2
Powerpoint Chapter 2 ppt
Chapter 5
How to Form a Business
 Upon completion of this chapter you will be able to:
  1. Compare the advantages and disadvantages of sole proprietorships.
  2. Describe the differences between general and limited partners, and compare the advantages and disadvantages of partnerships.
  3. Compare the advantages and disadvantages of corporations, and summarize the differences between C corporationss S corporations, and limited liability companies.
  4. Define and give examples of three types of corporate mergers, and explain the role of leveraged buyouts and taking a firm private.
  5. Outline the advantages and disadvantages of franchises, and discuss the opportunities for diversity in franchising and the challenges of global franchising.
  6. Explain the role of cooperatives.
Chapter 5    Chapter 5
Powerpoint  Chapter 5 ppt
Chapter 6
Entrepreneurship and Starting a Small Business
  Upon completion of this chapter you will be able to:
  1. Explain why people take the risks of entrepreneurship; list the attributes of successful entrepreneurs, and home-and web-based businesses.
  2. Discuss the importance of small business to the American economy and summarize the major causes of small-business failure.
  3. Summarize ways to learn about how small businesses operate.
  4. Analyze what it takes to start and run a small business.
  5. Outline the advantages and disadvantages small businesses have in entering global markets.
Chapter 6    Chapter 6
Powerpoint  Chapter 6 ppt