1 / 73

Intro To Business!

Intro To Business!. UNIT ONE – INTRODUCTION. Agenda. Introduction Game Getting to know your classmates Course Profile Opening discussion What does business mean?. Now it’s your turn…. Using a scrap piece of paper, prepare your 2 truths and 1 lie… Rules:

ricky
Télécharger la présentation

Intro To Business!

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Intro To Business! UNIT ONE – INTRODUCTION

  2. Agenda • Introduction Game • Getting to know your classmates • Course Profile • Opening discussion • What does business mean?

  3. Now it’s your turn… • Using a scrap piece of paper, prepare your 2 truths and 1 lie… • Rules: • Keep it clean – the whole class will vote on it • Help us get to know you (say something most people would not know about you)

  4. Business Classroom RULES RESPECT RESPONSIBILITY • Respect your peers and the teacher • Respect the property and equipment • Respect our time, be on time and be here • Respect the environment where we are learning • You are responsible for your work and your learning • You are responsible to do group work and deliver evaluations of your peers • You are responsible to come to me if you need help or if you have concerns

  5. Intro To Business Part 1

  6. Agenda • Unit 1 Overview • Class notes • What is a Business? • 7 Characteristics of a Business • Pita Pit Profile • The Role of Consumers • Consumers influencing products, price & service • Extra Case Study Time / Questions

  7. Unit 1 Overview – BUSINESS FUNDAMENTALS Chapter 1 – Economic Basics Chapter 2 – Types of Businesses Chapter 3 – Ethics & Social Responsibility Chapter 4 – Inter-national Business

  8. What is a Business?

  9. What is a business? Definition: • The production and/or sale of goods and/or services to satisfy the wants, needs, and demands of consumers, with the purpose of making a profit.

  10. Characteristics of Businesses • Profit or Non-profit? • Large or Small • Forms of Business Ownership • Goods or Services • Channels of Distribution • Role in the Community • Jobs

  11. 1) Profit or Non-Profit? • For Profit = to make money • Most businesses operate for profit • Profit = Revenue - Expenses • Not for Profit = raising money for a charity • Examples: Greenpeace, Save the Children, Heart & Stroke Foundation, Big Sisters/Brothers, etc.

  12. Profit Example • We start a business, selling ESC Stickers : • Total $ sold = $ 550 • Cost of buying stickers = $ 200 • Cost of flyers to promotes= $120 $550 -320 ----------- $230 What is our REVENUE? What are our EXPENSES? What is our PROFIT?

  13. 2) Large or Small? • Most businesses are small or medium sized (SMB) • SMB is defined as a business that employs less than 500 people • More than 1 Million SMBs in Canada, employing more than 60% of Canadian workforce

  14. 3) Forms of Business Ownership Sole Proprietor This will be discussed further in Chapter 2… For now, this is a simple introduction on forms of business ownership. Corporation Partnership Franchise Co-operative

  15. 4) Goods or Services • GOOD – something that will be sold, likely for profit. Something you can touch (“tangible”) • SERVICE – anything that someone does for a fee, without a tangible good changing hands. i.e. mechanic, lawyer, doctor, psychic, etc.

  16. 5) Channels of Distribution • Distribution = HOW it delivers goods or services to customers • “Bricks & Mortar” businesses = specific location that customers go to (i.e. store, gym) • Online stores

  17. 6) Role in the Community • Businesses have different roles / functions in the community • Example: Canadian Diabetes Foundation offers support and raises funds to help people with diabetes

  18. 7) Jobs • Types of jobs it provides • Example: health club = jobs for fitness trainers, front desk workers, office workers, maintenance workers, and sometimes food service personnel

  19. The Consumer • How many consumers are in this room? • School? • Country?

  20. The Role of the Consumer • Consumer = people who buy and use the goods / services • Producers = people who make the goods / services • Marketplace = any location where producers & consumers come together

  21. RULE: The customer is always right. Do you agree with this?

  22. Consumer Influence on Products • Over time, producers have changed to meet the wants of consumers

  23. Consumer Influence on Products • With more options and consumer wants, comes increased COMPETITION • What did you buy in the past month? Did it make a difference WHERE you bought it? • Shift of control to “consumer power” instead of “producer power”

  24. Obsolete • A product becomes obsolete when there is no longer a want or need for that product • When consumers stop buying them, the producers stop making them • Examples? • Tape players, HDDVD players, … Discussion question – do you think ipods will become obsolete in the future? Why? Why not?

  25. Consumer Influence on Price • Businesses are in control when they have pricing power • They can increase prices in response to increased costs or to increase their profits • Consumers have control when they have consumer purchasing power • By “voting with their feet” & looking elsewhere for products and services

  26. Consumer Influence on Service • Consumer purchasing power = the control to buy goods and services at the price they want and the location they like • Influences the products, prices, and service levels that businesses offer consumers

  27. Pita Pit Profile • Read page 5 of the text • Answer questions 1 and 2 • Put your name on your page, and hand it in

  28. Intro To Business Part 2 J. Pontieri

  29. Starting a Business • What is the name of a person who starts their own business? Entrepreneur

  30. Characteristics of Entrepreneurs What do you think the characteristics are of someone who starts their own business: (brainstorm in small groups) • Self confidence • A flair for innovation (new ideas) • The ability to work alone • An aptitude for managing others

  31. Needs Wants Needs vs. Wants • In small groups of 4 or 5 • Divide your chart paper in half • Write your names on the paper, and titles • Your group must come up with at least 5 examples of needs and 5 examples of wants • Bring your paper to the front when you are done

  32. Needs vs. Wants • NEEDS – essential for human survival i.e. food, shelter, clothing • WANTS – human desires that go beyond basic needs and are not essential for survival • The essence of entrepreneurship is the creation and building of a VENTURE to fulfill a need or want of consumers Complete worksheet on Needs and Wants.

  33. Attracting Customer Interest • After identifying needs & wants, identify competition and figure out how you will attract business away from competitors • How do you make your buying decisions? • What did you eat for breakfast? • Brand of cereal? • Brand of orange juice? • Why? Price? taste? promotion? health reasons?

  34. Business Plans Businesses plan what goods and services to offer and how to distribute and market them by knowing how consumers will answer the following questions: • Do I really need it? • Where should I buy it? • How much variety is there to choose from? • How much can I afford to spent? • Why would I want to buy here? Are there sales or coupons? • Where else could I get it? Could I buy it used or get it as a gift?

  35. General Mills Story General Mills launched a new cereal for kids called `Wheaties Dunk-A-Balls` shaped like basketballs. Parents buy the cereals and didn’t like that it encouraged kids to play with their food, so the cereal failed. How could this have been avoided?

  36. Making Good Business Decisions • Entrepreneurs face MANY decisions every day • Making a few poor decisions can cause someone to lose their business • 5 Step decision-making model can help us think through important decisions

  37. 5 Step Decision-Making Model

  38. Review Questions • On page 22, complete questions 10, 11, and 13 in pairs • Have both names on the page and hand it in for marks • You have 12 minutes to work on this during class, if you are not done, it is homework

  39. Economic Resources • ECONOMIC RESOURCES are also known as factors of production • 3 kinds of economic resources: • NATURAL RESOURCES • HUMAN RESOURCES • CAPITAL RESOURCES

  40. 1. Natural Resources • Materials that come from the earth, water & air • Examples: soil, iron, gold, oil, trees, wildlife, fish, oxygen, wheat, apples, etc. • MOST natural resources are non-renewable & therefore limited, others take decades to replenish (forests)

  41. 2. Human Resources • Human Resources = labour • People who work to create the goods and services • Examples: farmers, factory workers, construction workers, website designers, investment bankers, teachers, pilots, etc.

  42. 3. Capital Resources • Capital resources usually last for a long time & often require serious investment by the business • Examples: buildings, equipment, tools, trucks, factories, etc. • ALSO, businesses require money (another capital resource) to buy raw materials & services they use to produce their own good or service

More Related