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In the first week of the Introduction to Business course led by Bruce Duggan at Providence University College, students explore fundamental questions about business: What is business? Why does it exist? The course aims to provide insights into how businesses operate within various economic environments and their impact on society. We will analyze organizational boundaries, economic conditions, and the business cycle, including aspects such as stability, growth, and employment. The importance of understanding these factors is emphasized through discussions on the environment in which businesses function.
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Introduction to Business 471.13 Week 1 Winter 2012 Bruce Duggan Providence University College
everything except people introduction fast not details IB
To Do • by next Tue • groups • read • syllabus • ch 1 & 2 • find
To Do • by Fri • groups • read • syllabus • ch 2 • find • “1 thing I didn’t understand”
What is business? • Why does it exist?
What is business? • Why does it exist? • Why do businesses exist? • What do they do? • Are they good things? • Could something else do it better?
ch 2 “Understanding the Environments of Business”
org boundaries 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
Organizational Boundaries • imagine you’re the owner • What can you control? • that’s inside your boundary • What can’t you control (but effects you)? • that’s your environment(s)
org boundaries 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
Environments pg 42
Economic Environment • “The conditions of the economic system in which an organization operates” “The Economy”
Economic Environment • 3 issues • stability • growth • employment What’s missing?
Economic Environment • stability “Condition in an economic system in which the amount of money available and the quantity of goods and services produced are growing at about the same rate.”
Economic Environment • stability • business cycle • inflation • deflation • unemployment “The typical pattern of short-term ups and downs—expansions and contractions—in an economy”
Economic Environment • stability • business cycle • phases • peak • recession • trough • recovery
Economic Environment • stability • business cycle change in GDP per capita “in real terms” 20% 10% 0% -10%
Economic Environment • stability • business cycle change in real GDP per capita 20% 10% 0% -10% 1800 1850 1900 1950 2000 Lawrence H. Officer and Samuel H. Williamson, "Annualized Growth Rate of Various Historical Economic Series," MeasuringWorth, 2010. URL http://www.measuringworth.com/growth/
Economic Environment • stability • business cycle change in GDP per capita Canada US 10% 0% -5% 1962 1972 1982 1992 2002 Centre for the Study of Living Standards. Aggregate Income and Productivity Trends: Canada vs United Stateshttp://www.csls.ca/data/ipt1.asp
Economic Environment • stability • business cycle • inflation • deflation • unemployment
Economic Environment • stability • business cycle • inflation • measuring • cpi “Widespread price increases in an economic system.” ? “Prices of typical products purchased by consumers.”
Economic Environment • stability • inflation 100% 75% 50% 25% 0% -25% -50% 1300 1400 1500 1600 1700 1800 1900 2000
Economic Environment Canada • stability • inflation US UK 20% 10% 0% -10% 1916 1936 1956 1976 1996
Economic Environment • stability • business cycle • inflation 10% 0% -5% 1962 1972 1982 1992 2002
Economic Environment • Issues • Stability • Growth • Employment • Fairness What’s missing?
