1. Daily Information 9/9/13 Objectives:
1. List and explain the three major business activities.
2. Describe the general types of businesses.
Agenda:
Warm Up
Ch 1, Sec 2 vocab.
Nature of business P.P.
Group review
EBay activity
Bottom Line
Warm Up:
Think about the businesses you interacted with over the summer.
What activities did they provide to you?
**List five examples

2. Business and Profit Business: Profit:
an organization that produces or distributes a good or service for profit
Profit:
difference between earned income and costs

3. Why do businesses exist?
Businesses work for customers
Customers buy goods and services
Goods: clothes, computers, sporting goods (tangible)
Services: dentist office, restaurant, auto shop (intangible)
Businesses work hard to provide goods and services needed by consumers …..WHY?
To make a profit and succeed.

4. Business Activities: Production, Marketing, Finance
Making a product or providing a service
Manufacturing firms create products for customers
Service firms use skills of employees to offer activities/assistance to customers
We live in a service society (service firms exceed manufacturing firms) …..WHY?
The economy has become more information and service based

5. Business Activities: Production, Marketing, Finance
Activities between business and customer involved in buying and selling goods and services.
What does this mean?
The connection between business and customers
The communication link

6. Business Activities: Production, Marketing, Finance
All money matters in running a business

7. Name the Business Activity
The way most businesses let consumers know about their products is through… MARKETING

8. Name the Business Activity
The business activity that ensures the business will have goods to sell… PRODUCTION

9. Name the Business Activity
Netflicks wants to borrow cash in order to enlarge the business. The company's efforts to obtain funds are part of the business activity of… FINANCE

10. Business Activities: List Examples
Production
Marketing
Finance

11. How is Price Determined?
Based on the law of supply and demand
Supply: # of items that you have to sell
(Assuming similar products, price, time)
Demand: # of items that will be bought

12. Types of Businesses: Industrial & Commerical
Industrial businesses
Produce goods used by other businesses to make things
Examples:
Companies that mine coal or ore
Companies that extract oil and gas from the earth
Companies that construct buildings, build bridges
Farmers

13. Types of Businesses: Industrial & Commercial
Commercial businesses
Engaged in marketing, finance, and providing services
Service business – a type of commercial business that uses labor to offer intangible products.
Examples:
Commercial businesses: Forever 21, H&M, Old Navy
Service businesses: dog walking, car wash, Applebee's

14. Industry All businesses within a category doing similar work Examples:
Publishing
Automotive
Health

15. Group Activity
Work in your base groups to complete the following questions in the textbook: Both checkpoints on page 5 Page 22, 23, & 24 Questions: 1,2,5,6,10,12,15,16,23,25

16. EBay Activity
In your groups, read the information provided and answer the questions.
Each group must turn in one answer sheet with all names listed.

17. Bottom Line Objectives:
1. List and explain the three major business activities.
2. Describe the general types of businesses.

18. Daily Information – 9/11/12 Objectives: Warm Up: Agenda:
1. Describe how innovations affect business.
2. Discuss ways in which businesses can improve their business practices.
Warm Up:
Place your materials for this class on your desk and think about when you were at the store buying them.
List all options that were available to you when looking at the variety of items.
Agenda:
Warm-Up.
9/9 Review
Ch1, Sec2 vocab.
Changes affecting businesses P.P.
Past Innovations
Group activity
Bottom Line

19. 9/9 Review
Objectives:
1. List and explain the three major business activities.
2. Describe the general types of businesses.

20. Characteristic of Business
Business is always changing!
A business must be able to act quickly to the changing nature of society
Too many businesses react slowly or not at all to societal changes resulting in failure

21. History of Business
Over the past half-century, other countries have become more industrialized
They learned how to invent and produce new products at a cheaper price than American Companies.
Americans now purchase foreign products
In an effort to keep up with the changing demands of society, American businesses needed to refocus their goals!

22. Changes Affecting Businesses: Innovation, Global Competition, Focus
Impact of global competition
Focusing on the right things
Achieving effectiveness: making the right decisions about products or services to offer and the best ways to produce and deliver them
Achieving efficiency: producing products and services quickly, at low cost, without wasting time and materials
“A business can be very efficient but completely ineffective.”

23. Ways Innovation Affects Business
The kinds of products and services offered for sale
Example: clothing synthetic fibers more choices for the customer.
Business Operations
First computer changed the way we do business goodbye typewriters
(the internet changed communication between businesses and the customer.)

24. Impact of Global Competition
Other countries became more industrialized, i.e. learned how to invent and produce new products at a cheaper cost
(new designs).
U.S. goal
Use abundant resources of the U.S.
Use the talent of their managers and employees.

25. Focus: EFFECTIVENESS Offer high-quality goods and services
Know what the customer wants (choices, product guarantees, customer loyalty programs)
Example: what kind of athletic shoes will best satisfy the needs of a runner vs. a basketball player.

26. Focus: EFFICIENCY Efficiency is achieved in three ways:
Specialization of effort
Employees become experts on specific tasks
Better technology and innovation
Faster, cost effective, better quality
Reorganization of work activities
Employee empowerment (ask employees how to improve the work performed), reduce steps

27. Past Innovations
In your groups review the listing of past innovations.

28. Group Activity Get into your groups
Review of efficiency vs. effectiveness information
Two students in each group focus on identifying efficient and effective ways to improve learning within the classroom.
Two students in each group focus on identifying efficient and effective ways to improve the way a school cafeteria is run.
Review the listing as a group. You may have to move some items from one list to another.
Turn in your final group listing.

29. Bottom Line Objectives: 1. Describe how innovations affect business.
2. Discuss ways in which businesses can improve their business practices.

30. List 5 benefits to business ownership.
Daily Information – 9/12/12
Objectives:
Warm Up:
List 5 benefits to business ownership.
Agenda:
Warm Up
9/11 Review
Complete efficiency vs. effectiveness activity in groups
Group review
1. Discuss ways in which businesses can improve their business practices.

31. 9/11 Review Objectives: 1. Describe how innovations affect business.
2. Discuss ways in which businesses can improve their business practices.

32. Efficiency vs. Effectiveness
Review the class listing for each category (classroom learning and managing a school cafeteria) and answer the follow up questions.

33. Daily Information – 9/13/12 Objectives: Warm Up:
1. Are there any risks? Think of reasons why business ownership would be risky.
Agenda:
Warm Up
Review of chapter
Group Activity
Business benefits P.P.
The “Google” Life video
1. Identify two ways a nation measures its economic growth and prosperity.
2. Describe the benefits of business ownership.

34. Chapter Review
1. List and explain the three major business activities.
2. Describe the general types of businesses.
3. Describe how innovations affect business.
4. Discuss ways in which businesses can improve their business practices.
6. Describe the benefits of business ownership.

35. Group Activity
Work in your base groups to complete the following questions in the textbook: Checkpoints on pages: 7, 8, and 11 Page 22, 23, & 24 Questions: 3,4,7,8,9,14,17,18,19,20,24,26,27

36. Measurements: Growth and Prosperity
How can you measure a nation’s economic wealth?
1. GDP: gross domestic product
2. Individual Well-Being

37. GDP: Gross Domestic Product
Total market value of goods and services produced in a country
How does the government collect the data for GDP?
Taxes paid by businesses for products and services
What are some products or services that are not taxed or tracked by the government?

38. Individual Well-Being
Increased income = Increased level of living
Self-Improvement, i.e. education and training
Exercise
Personal Care Products
Savings
What are some ways in which individual well-being can decrease?
Poverty
Unemployment

39. COUNTRIES WITH LARGEST GDPs
On page 15 of your textbook

40. Business Ownership
Successful growth of business in the U.S. has resulted from:
Strong desire to own your own business (small businesses)
The ease in with which a business can be started (franchises)

41. Franchise
A legal agreement to purchase the right to sell a company’s product or service under the company’s name and trademark.
Benefits
Assistance in selecting location
Tested policies and procedures
What are some examples of franchises?

42. Risk and Obligations of Ownership
Risks of ownership: success or failure
1 out of every 5 businesses close within 3 years
Obligations of ownership: responsibility to the community in which it operates (customers, employees, management, competitors, investors, the public)
Owe money to other businesses

43. INTRAPRENEURSHIP
An employee who is given funds and freedom to create a special unit or department within a company in order to develop a new product, process, or service How can this benefit both the employee and the company?

44. The Google Life (Video)

45. Daily Information – 9/17/12 Objectives: Describe the nature
of business.
List the changes
affecting business.
Describe the benefits of business ownership.
Warm Up:
What is one topic that we learned in this chapter that you feel is the most important topic in the success of managing a business?
Agenda:
Warm Up
Case 1-1: Staying Competitive
Ch.1 study guide
Review study guide

46. Individual Activity
Page 25: Read case 1-1 and answer questions 1-4

47. Daily Information – 9/18/12 Objectives: Describe the nature
of business.
List the changes
affecting business.
Describe the benefits of business ownership.
Warm Up:
Take out your study guides, quiz today!
Agenda:
Warm Up
Ch.1 Quiz
Library