Intro to Business

1. Intro to Business Unit Six Careers in Our Economy Chapter 18 Human Resources in Our Economy

2. GOALS • Explain why human resources are a vital economic force. • Identify types of industries and occupational groups in our work force. • Discuss factors that affect job opportunities and how the workplace is changing.

3. Types of Industries • Department of Labor • Bureau of Labor Statistics (BLS) publishes many useful materials about current and projected employment opportunities: • The Occupational Outlook Handbookhttp://www.bls.gov/ooh/ • Occupational Outlook Quarterlyhttp://www.bls.gov/ooq/home.htm • Two main types of industries: • Service Producing Industry • Goods Producing Industry

4. Service Producing Industry • Businesses that perform services that satisfy the needs of other businesses and consumers. • Personal and business services • Retail and wholesale trade • Finance, insurance, and real estate • Government • Transportation, communications, public utilities

5. Goods Producing Industry • Businesses that manufacture many kinds of products. • Construction • Manufacturing • Mining • Agriculture

6. Occupational Groups • White-Collar Worker • One whose work involves a great deal of contact with other people and the handling and processing of information. • Offices, stores, professionals, managerial, clerical • Blue-Collar Worker • One whose work primarily involves the operation of machinery and equipment • Factories, machinery shops, construction

7. Changing Job Opportunities • Consumers Preferences • Jobs are affected by derived demand • New products demanded makes old obsolete • New jobs created; old jobs eliminated • Economic Conditions • Businesses expanding = more jobs created • Consumer buying more = more jobs created • Workers earn more = spend more money • High prices = less demand/spending = less jobs • Interest rate up = less borrowed/spent = less jobs

8. Changing Job Opportunities • New Technology • Technology: automated machines, electronic equipment, integrated systems to help increase the efficiency of producing goods and services • Technology influences how workers perform their jobs. (Robots, Internet, Social Media, etc.) • Business Competition • Stay competitive, lower business costs • Install new equipment for efficiency • Downsize: planned reduction of # of workers(Amazon PrimeAir Drone Delivery – no delivery truck needed)

9. Changing Job Opportunities • Societal Factors • Population Age • Target markets change with age (Baby Boomers) • Immigrant workers • Often fill jobs that otherwise would go unfilled • Start businesses that would otherwise not be provided

10. Changing Workplace • Government changes through • Congressional legislation • Agency guidelines • Supreme Court decisions • Areas of Government Regulations • Human Resource Management • Equal Employment Opportunity (disabilities, retirees) • Job Safety & Employee Health

11. Changing Workplace • Work Force Diversity • Younger and older workers • Different cultures and heritages • Newer skills needed (newer technologies)

12. Intro to Business Unit Six Careers in Our Economy Chapter 19 Planning a Career

13. GOALS • Explaincareer planning and list sources of career information. • Discuss approaches that can be taken to learn about value and abilities. • Describe five steps to follow when making career decisions. • Identify sources for financing additional education.

14. Career Planning • Occupation: a task or series of tasks that is performed to provide a good or service • People hired to fill occupations and are paid for the work they perform. • Career: a goal in life that is fulfilled through an occupation or series of occupations

15. Career Planning • Career Planning: the process of studying careers, assessing yourself in terms of careers, and making decisions about a future career. • Making decisions about your interests • Investigating several occupations within career area • Duties performed, education/training needed, wages paid

16. Information Sources Career Planning • GovernmentResources • Occupational Outlook Handbook • Includes job duties, working conditions, education or training required, advancement possibilities, earnings • Magazines • Career World • Encyclopedia of Careers & Vocational Guidance • Organizations • Insurance Information Institute • High school or College/University Career Centers • Newspaper – want ads

17. Career ~ Your Values • Values: the things that are important to you in life. Prestige ● Money ● Power ● Achievement Independence ● Leadership ● Security ● Belonging • Is it important to me to earn a lot of money? • Am I interested in work that provides a service to others? • Is it important to me that other people think I’m important? • Do I want to be challenged at work or need more training? • Would I be willing to start at a low salary if I can advance?

18. Career ~ Your Values Your Character & Values • What would you be if someone gave you a large sum of money? • Start your own business? • Travel the world? • Develop a foundation to support underprivileged kids? • Help build up a run-down neighborhood? • Buy yourself a huge wardrobe and/or fancy car? • Pay for an expensive education?

19. Career ~ Your Talents & Abilities • Talent: natural, inborn aptitude to do certain things. “Natural Talent” • Abilities: the quality of being able to perform a mental or physical task. • Your talents and abilities, along with your career goals and interests are important in career planning.

20. Career ~ Your Talents & Abilities • Think about your education: • What kind of courses have you taken? • Which courses did you do your best work? • Which courses were easiest for you? • Which courses were most difficult for you? • Which do you like best? • Abilities can be developed • Strengthen your weaknesses

21. Making Career Decisions • Gather as much information as you can. • Analyze what you have learned about careers and about yourself. • Think about different plans of action and what might happen if you follow each one. • Select what seems to be the best plan of action and follow it. • Evaluate your career decision from time to time.

22. Financing Education • Consider the cost for education an investment that will help you earn higher wages in the future. • Financial Aid Programs • Scholarships • Student loans • Work-study programs

23. Intro to Business Unit Six Careers in Our Economy Chapter 20 Succeeding in the World of Work

24. GOALS • Discuss how to compose a letter of application and personal data sheet, and how to fill out employment applications forms. • Describe how pre-employment tests are used by employers. • Explainhow to prepare a good interview. • Identify quantities that lead to success on the job.

25. Applying for a Job • Letter of Application • Sales letter about an applicant written for the purpose of getting a personal interview • Business-like letter that focuses on interest in and qualifications for the position • A.K.A. - Letter of Interest • “Sales Letter” meaning:~ get employers attention~ desire to meet you (applicant)~ invite you for an interview

26. Applying for a Job Page 268 • Letter of Application • Neat, Courteous, To The Point • Carelessness could cost you an interview opportunity • Your letter represent YOU! • How will you stand out from the other applicants?

27. Applying for a Job Page 269 • Personal Data Sheet (Resume) • Summary of important job-related information about yourself • Education • Work Experience • Personal References • Personal References: • People who can give a report about your character, your education, and your work habits • Teachers, religious leaders, adults, former employers

28. Applying for a Job Page 270 • Employment Applications • Document used by employers that asks for information related to employment. • Standard Info (Part of Permanent File) • Name, Address, Social Security #, Education, Work Experience, Qualifications, Applying Position • Resume info can be used to fill out form • First task employer asks you to do • Application represents you as worker

29. Pre-Employment Test • Screen applicants for skills & abilities • Compare applicants on same basis • Evaluate individuals’ abilities • Ability Tests:measure how well a job applicant can perform certain job tasks. • Keyboarding tests • Word Processing tests • Calculating tests • Writing Skills tests

30. Interviewing • Position Interview • Two-way conversation in which: • the interviewer learns about you and • you learn about the position and the company. • Things interviewer look for: • Appearance • Manners • Use of language • General suitability for position

31. Interviewing Tips • Be on time! (Early, just in case) • Go alone (don’t take friends or family) • Dress Appropriately (present yourself) • Firm Hand Shake, Shows Confidence • Try to be Calm (avoid excessive talking) • Use good Eye Contact • Answer Questions Intelligently and Completely • Thank the interviewer for the opportunity • Send a brief “Thank You” letter to interviewer • Be Patient afterwards (it may take time to decide)

32. Sample Interview Questions • Why should we hire you for this position? • What are some of the activities you like to do in your spare time? • What courses have you taken that will help you with this particular position/job? • What are you career goals? • Do you plan to continue your education now or in the future? • Do you have any friends or family that work here? • What are your major strengths? Major weaknesses?

33. Qualities of Success on a Job • Ask Questions • Avoid Complaining • Honor Break Times • Be Attentive of Appearance • Be On Time • Be Friendly with Everyone • Do Good Work and Do It On Time • Follow the Rules

34. Intro to Business Unit Six Careers in Our Economy Chapter 21 Opportunities in Small Business

35. GOALS • Define a small business. • Identify reasons why small businesses fail. • Describe several sources of help for small business owners. • List characteristics of successful small business owners.

36. Small Businesses Books idea of a small business: • Usually has the owner as the manager • Is not dominant in its field of operation • Employs fewer than 500 employees • Usually is local, serving the nearby community • Most start as sole-proprietorships • Some start as Franchise agreements

37. Small Business Problems • Bankruptcy • A situation in which a business does not have enough money to pay its creditors even after selling equipment and other capital resources. • Creditor • Person or business that is owed money. • Closing • A situation in which business discontinued with loss to at least one creditor

38. Small Business Problems • Reasons for Failure: • Not keeping adequate records • Not having enough start-up money (capital) • Lack of sales and management experience • Lack of experience in business • Not controlling operating expenses • Poor location for the business • Failure to manage payments due from customers

39. Small Business Help • Small Business Administration (SBA) • Government funded organization • Help small businesses borrow & manage money • Small Business Institutes (SBIs) • Programs offered in cooperation with colleges to provide management counseling • SCORE (Service Corps of Retired Executives) • Volunteer members provide assistance in special areas such as finance, accounting, marketing, etc.

40. Business Owner Characteristics • Can do things on their own, self-starters • Have leadership abilities • Take charge of things, assume responsibility • Like to plan, good organizers • Are hard-workers, work long hours • Are decision-makers • Are trusted, mean what they say • Are achievers, don’t quit • Have good health, full of energy