Bus Econ (Learning Goals)

Week Topic Goals and Objectives. The student will be able to Dictionary
1 Introduction of teaching methods and performance’s expectations, rules of discipline and training philosophy

Part 1 Business Trends: Cultivating a business in diverse and global environment – Chapter 1 “Taking Risk and Making Profits within the Dynamic Business Environment”

Understand the teacher’s expectations.

Comprehend the required standards of proficiency needed to pass the course.

Understand the discipline and training philosophy of the teaching.

Value the studying materials of the course and the additional teaching sources provided and available for further studying and learning.

2
3 Part 1 Business Trends: Cultivating a business in diverse and global environment – Chapter 1 “Taking Risk and Making Profits within the Dynamic Business Environment” Explain basic economics.

Explain what capitalism is and how free markets work.

Compare socialism and communism.

Analyze the trend toward mixed economies.

Discuss the economic system of the United States, including the significance of key economic indicators (especially GDP), productivity, and the business cycle.

Define Fiscal Policy and Monetary policy, and explain how each affects the economy.

Business

Business Environment

Climate Change

Database

Demography

E-commerce

Empowerment

Entrepreneur

Factors of production

Goods

Greening

Identity Theft

Loss

Non-Profit Organization

Outsourcing

Productivity

Profit

Quality of life

Revenue

Risk

Services

Stakeholders

Standards of living

Technology

                 5 Part 1 Business Trends: Cultivating a business in diverse and global environment – Chapter 2 “Understanding how economics affects business” Explain basic economics.

Explain what capitalism is and how free markets work.

Compare socialism and communism.

Analyze the trend toward mixed economies.

Discuss the economic system of the United States, including the significance of key economic indicators (especially GDP), productivity, and the business cycle.

Define Fiscal Policy and Monetary policy, and explain how each affects the economy.

Brain Drain

Business Cycle

Capitalism

Command Economies

Consumer Price Index

Deflation

Demand

Depression

Disinflation

Economics

Fiscal Policy

Free Market Economies

Gross Domestic Product (GDP)

Inflation

Invisible Hand

Keynesian Economic Theory

Macroeconomics

Market Price

Microeconomics

Monetary Policy

Monopolistic Competition

Monopoly

National Debt

Oligopoly

Perfect Competition

Product Price Index

Recession

Resource Development

Socialism

Stagflation

Supply

Unemployment

6
                 7 Part 1 Business Trends: Cultivating a business in diverse and global environment – Chapter 3 – Doing business in global market Discuss the importance of the global market and the roles of comparative advantage and absolute advantage in global trade.

Explain the importance of importing and exporting, and understand key terms used in global business.

Illustrate the strategies used in reaching global markets and explain the role of multinational corporations in global markets.

Evaluate the forces that affect trading in global markets.

Debate the advantages and disadvantages of trade protectionism.

Discuss the changing landscape of the global market and the issue of offshore outsourcing.

Absolute Advantage

Balance of Payments

Balance of Trade

Common Market

Comparative Advantage Theory

Contract Manufacturing

Countertrading

Devaluation

Dumping

Embargo

Exchange rate

Foreign Direct Investment (FDI)

Foreign Subsidiary

Free Trade

General Agreement on Tariff and Trade

Importing

Import Quota

Joint-Venture

Licensing

Multinational Corporation

North America Free Trade Agreement (NAFTA)

Sovereign Wealth Funds (SWFs)

Strategic Alliance

Tariff

Trade Deficit

Trade Protectionism

Trade Surplus

World Trade Organization (WTO_

8
                 9 Mid Term Project – International Business Company
10 Part 1 Business Trends: Cultivating a business in diverse and global environment – Chapter 4 “ Demanding Ethical and Social and Responsible Behavior” Explain why obeying the law is only the first step in behaving ethically.

Ask the three questions to answer when faced with a potentially unethical action.

Describe management’s role in setting ethical standards.

Distinguish between compliance-based and integrity-based ethics codes, and list the six steps in setting up a corporate ethics code.

Distinguish between compliance-based and integrity-based ethics codes, and list the six steps in setting up a corporate ethics code.

Analyze the role of U.S. businesses in influencing ethical behavior and social responsibility in global markets.

Compliance-based Ethics Codes

Corporate Partnership

Corporate Policy

Corporate Responsibility

Corporate Social Initiative

Corporate Social responsibility

Ethics

Insider Trading

Integrity-based Ethics Codes

Social Audit

Whistle Blowers

                11 Part 2 Business Ownership: Starting a small business – Chapter 5 “How to form a small business” Compare the advantages and disadvantages of sole proprietorships.

Describe the differences between general and limited partners, and compare the advantages and disadvantages of partnerships.

Compare the advantages and disadvantages of corporations, and summarize the differences between C corporations, S corporations, and limited liability companies.

Describe three types of corporate mergers, and explain the role of leveraged buyouts and taking a firm private.

Outline the advantages and disadvantages of franchises, and discuss the opportunities for diversity in franchising and the challenges of global franchising.

Explain the role of cooperatives.

Acquisition

Conglomerate Merger

Conventional Corporation

Cooperative

Cooperation

Franchise

Franchise Agreement

Franchisee

Franchisor

General Partner

General Partnership

Horizontal Merger

Leveraged Buyout (LBO)

Limited Liability

Limited Liability Company (LLC)

Limited Liability Partnership (LLP)

Limited Partner

Limited Partnership

Master Limited Partnership (MLP)

Merger

Partnership

S Corporation

Sole Proprietorship

Unlimited Liability

Vertical Merger

                12 Part 2 Business Ownership: Starting a small business – Chapter 6 “Entrepreneurship and starting a small business” Explain why people take the risks of entrepreneurship, list the attributes of successful entrepreneurs, and describe entrepreneurial teams, entrepreneurs, home-based and Web-based businesses.

Discuss the importance of small business to the American economy and summarize the major causes of small-business failure.

Summarize ways to learn about how small businesses operate.

Analyze what it takes to start and run a small business.

Outline the advantages and disadvantages small businesses have in entering global markets.

Affiliate Marketing

Business Plan

Enterprise Zone

Entrepreneurial Team

Entrepreneur

Market

Micropreneurs

Service Corps of Retired Executives (SCORE)

Small Business

Small Business Administration (SBA)

Small Business Investment Company Program (SBIC)

Venture Capitalist

13
14 Pre Final Exam (Chapter 1 – 6)
15 Part 3 Business Management: Empowering employees to satisfy customers – Chapter 7 “Management and Leadership” Describe the changes occurring today in the management function.

Describe the four functions of management.

Relate the planning process and decision making to the accomplishment of company goals.

Describe the organizing function of management.

Explain the differences between leaders and managers, and describe the various leadership styles.

Summarize the five steps of the control function of management.

Autocratic Leadership

Brainstorming

Conceptual Skills

Contingency Planning

Controlling

Decision Making

Democratic Leadership

Enabling

External Customers

Free-rein leadership

Goals

Human relations skills

Internal customer

Knowledge Management

Leading

Management

Middle Management

Mission statement

Objectives

Operational Planning

Organizational Chart

Organizing

Participative Leadership

Planning

PMI

Problem Solving

Staffing

Strategic Planning

Supervisory Management

SWOT Analysis

Tactical Planning

Technical Skills

Top Management

Transparency

Vision

                16 Part 3 Business Management: Empowering employees to satisfy customers – Chapter 8 “Adapting Organizations to today’s Markets” Outline the basic principles of organization management.

Compare the organizational theories of Fayol and Weber.

Evaluate the choices managers make in structuring organizations.

Contrast the various organizational models.

Identify the benefits of inter-firm cooperation and coordination.

Explain how organizational culture can help businesses adapt to change.

Benchmarking

Bureaucracy

Centralized Authority

Chain of Command

Core Competencies

Cross-functional Self-managed Team

Decentralized Authority

Departmentalization

Digital Natives

Economies of Scale

Flat Organization Structure

Formal Organization

Hierarchy

Informal Organization

Inverted Organization

Line Organization

Line Personnel

Matrix Organization

Networking

Organizational (for Corporate) Culture

Real Time

Restructuring

Span of Control

Staff Personnel

Tall Organization Structure

Virtual Corporation

17 Part 3 Business Management: Empowering employees to satisfy customers – Chapter 9 “Production and Operations Management” Describe the current state of U.S. manufacturing and what manufacturers have done to become more competitive.

Describe the evolution from production to operations management.

Identify various production processes and describe techniques that improve productivity, including computer-aided design and manufacturing, flexible manufacturing, lean manufacturing, and mass customization.

Describe operations management planning issues including facility location, facility layout, materials requirement planning, purchasing, just-in-time inventory control, and quality control.

Explain the use of PERT and Gantt charts to control manufacturing processes.

Assembly Process

Computer Aided Design (CAD)

Computer Aided Manufacturing (CAM)

Continuous Process

Critical Path

Enterprise Resource Planning (ERP)

Facility Layout

Facility Location

Flexible Manufacturing

Form Utility

Gantt Chart

Intermittent Process

ISO 14000

ISO 9000

Just-in-Time (JIT) Inventory Control

Lean Manufacturing

Mass Customization

Materials Requirement Planning (MRP)

Operations Management

Process Manufacturing

Production

Production Management

Program Evaluation and Review Technique (PERT)

Purchasing

Quality

Six Sigma Quality

Statistical Process Control (SPC)

Statistical Quality Control (SQC)

Telecommuting

18 Part 4 Management of Human Resources: Managing employees to produce quality goods and services – Chapter 10 “Motivating Employees” Explain Taylor’s scientific management.

Describe the Hawthorne studies and their significance to management.

Identify the levels of Maslow’s hierarchy of needs and apply them to employee motivation.

Distinguish between the motivators and hygiene factors identified by Herzberg.

Differentiate among Theory X, Theory Y, and Theory Z.

Explain the key principles of goal-setting, expectancy, reinforcement, and equity theories.

Show how managers put motivation theories into action through such strategies as job enrichment, open communication, and job recognition.

Show how managers personalize motivation strategies to appeal to employees across the global and across generations.

Equity Theory

Expectancy Theory

Extrinsic Reward

Goal-setting Theory

Hawthorne Effect

Hygiene Factors

Intrinsic Reward

Job Enlargement

Job Rotation

Management by Objectives (MBO)

Maslow’s Hierarchy of Needs

Motivators

Principle of Motion Economy

Reinforcement Theory

Scientific Management

Time-Motion Studies

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