1

Objectives:

1. List and explain the three major business activities.

2. Describe the general types of businesses.

Warm Up:

Think about the businesses you interacted with over the summer.

What activities did they provide to you?

**List five examples

Agenda:

1.Warm Up2.Ch 1, Sec 2 vocab.3.Nature of business P.P.4.Group review5.EBay activity6.Bottom Line

Business: an organization that produces or

distributes a good or service for profit

Profit: difference between earned income and

costs

2

Businesses work for customersCustomers 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.3

Production 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

4

Marketing 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

5

Finance All money matters in running a business

6

The way most businesses let consumers know about their products is through…

MARKETING

7

The business activity that ensures the business will have goods to sell…

PRODUCTION

8

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

9

Production

Marketing

Finance

10

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▪ (Assuming similar products, price, time)

11

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

12

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

NavyService businesses: dog walking, car wash,

Applebee's13

All businesses within a category doing similar work

Examples: Publishing Automotive Health

14

Work in your base groups to complete the following questions in the textbook:

Both checkpoints on page 5

Page 22, 23, & 24Questions: 1,2,5,6,10,12,15,16,23,25

15

In your groups, read the information provided and answer the questions.

Each group must turn in one answer sheet with all names listed.

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17

Objectives:

1. List and explain the three major business activities.

2. Describe the general types of businesses.

18

Objectives:

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:

1.Warm-Up.2.9/9 Review3.Ch1, Sec2 vocab.4.Changes affecting businesses P.P.5.Past Innovations6.Group activity 7.Bottom Line

19

Objectives:

1. List and explain the three major business activities.

2. Describe the general types of businesses.

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

20

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!

21

Innovation Impact of global competitionFocusing 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.”

22

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.) 23

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. 24

Offer high-quality goods and servicesKnow 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.

25

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

26

In your groups review the listing of past innovations.

27

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.

28

Objectives:

1. Describe how innovations affect business.

2. Discuss ways in which businesses can improve their business practices.

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30

Objectives:

Warm Up:

List 5 benefits to business ownership.

Agenda:

1.Warm Up2.9/11 Review3.Complete efficiency vs. effectiveness activity in groups4.Group review

1. Discuss ways in which businesses can improve their business practices.

Objectives:

1. Describe how innovations affect business.

2. Discuss ways in which businesses can improve their business practices.

31

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

32

33

Objectives:

Warm Up:

1. Are there any risks? Think of reasons why business ownership would be risky.

Agenda:

1.Warm Up2.Review of chapter3.Group Activity 4.Business benefits P.P. 5.The “Google” Life video

1. Identify two ways a nation measures its economic growth and prosperity.

2. Describe the benefits of business ownership.

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.

34

Work in your base groups to complete the following questions in the textbook:

Checkpoints on pages: 7, 8, and 11

Page 22, 23, & 24Questions: 3,4,7,8,9,14,17,18,19,20,24,26,27

35

How can you measure a nation’s economic wealth?

1. GDP: gross domestic product

2. Individual Well-Being

36

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?

37

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 38

0

2

4

6

8

10

12

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Italy

France UK

Ger

man

yIn

dia

Japa

n

China

EUU.S

.

GDP in trillions

On page 15 of your textbook 39

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)

40

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?

41

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

42

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?

43

Video

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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:

1.Warm Up2.Case 1-1: Staying Competitive 3.Ch.1 study guide4.Review study guide

Objectives:

Describe the natureof business.

List the changesaffecting business.

Describe the benefits of business ownership.

Page 25: Read case 1-1 and answer questions 1-4

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47

Warm Up:

Take out your study guides, quiz today!

Agenda:

1.Warm Up2.Ch.1 Quiz3.Library

Objectives:

Describe the natureof business.

List the changesaffecting business.

Describe the benefits of business ownership.