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Introduction to Business

Business

Publisher: Lumen Learning
Source: LibreTexts
Language: EN
Category: Business Administration

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Contents· 548 sections

01: Course Contents
1.01: About This Course
1.02: Course Contents at a Glance
1.03: Learning Outcomes
02: Faculty Resources
2.01: Request Access
2.02: I Need Help
03: Faculty Resources
3.01: Faculty Resources Overview
3.02: Pacing
3.03: PDF
3.04: PowerPoints
3.05: In-Class Activities
3.06: Assignments
3.07: Question Banks
3.08: I Need Help
04: Student Resources- Salty Pawz Case-Study Information
4.01: Salty Pawz- A Case Study in Business
4.02: Salty Pawz Background
4.03: Salty Pawz Marketing
4.04: Salty Pawz Financial Information
05: Module 1- Role of Business
5.01: Why It Matters- Role of Business
5.02: Introduction to What Is Business
5.03: Getting Down to Business
5.04: Introduction to For-Profit vs. Nonprofit
5.05: Profits and Purpose
5.06: Introduction to Factors of Production
5.07: Factors of Production
5.08: Introduction to Functional Areas
5.09: Functional Areas of Business
5.10: Introduction to Stakeholders
5.11: What Is a Stakeholder
5.12: Introduction to External Forces
5.13: External Forces That ShapeBusiness Activities
5.14: Putting It Together- Role of Business
5.15: Discussion- The Stakeholders of Salty Pawz
5.16: Discussion- External Factors Internal Pressure
5.17: Assignment- What Does a Business Look Like
5.18: Assignment- What Is Killing Our Business
5.19: Assignment- Functional Areas of Business
06: Module 1 Readings - Role of Business
6.01: Reading- Getting Down to Business
6.02: Reading- Making a Profit
6.03: Reading- Factors of Production- Inputs and Outputs
6.04: Reading- The Flow of Inputs and Outputs
6.05: Reading- Functional Areas of Business
6.06: Reading- Business Stakeholders
6.07: Reading- External Forces
07: Module 2- Economic Environment
7.01: Why It Matters- Economic Environment
7.02: Introduction to What Is Economics
7.03: Understanding Economics and Scarcity
7.04: The Concept of Opportunity Cost
7.05: Division of Labor and Specialization
7.06: Microeconomics and Macroeconomics
7.07: Introduction to Economic Systems
7.08: Economic Systems
7.09: Introduction to Demand
7.10: The Law of Demand
7.11: Factors Affecting Demand
7.12: Introduction to Supply
7.13: The Law of Supply
7.14: Factors Affecting Supply
7.15: Introduction to Equilibrium
7.16: Surpluses and Shortages
7.17: Equilibrium Price and Quantity
7.18: Practice- Equilibrium
7.19: Introduction to the Health of the Economy
7.20: Health of the Economy
7.21: Introduction to Economic Stages
7.22: Stages of the Economy
7.23: Putting It Together- Economic Environment
7.24: Discussion- Supply and Demand in Your Life
7.25: Discussion- Supply and Demand at Salty Pawz
7.26: Assignment- Supply and Demand for Salty Pawz
7.27: Assignment- Price Inelasticity of Demand
08: Module 2 Readings - Economic Environment
8.01: Reading- The Business Cycle- Definition and Phases
8.02: Reading- Economics and Scarcity
8.03: Reading- The Division of and Specialization of Labor
8.04: Reading- Microeconomics and Macroeconomics
8.05: Reading- Demand Supply and Equilibrium in Markets for Goods and Services
8.06: Reading- Shifts in Demand
8.07: Reading- Shifts in Supply
8.08: Reading- How Economies Can Be Organized
8.09: Reading- Control of Economic Decisions
8.10: Reading- Measuring the Health of the Economy
09: Module 3- Global Environment
9.01: Why It Matters- Global Environment
9.02: Introduction to Globalization
9.03: Globalization and Business
9.04: Absolute and Comparative Advantage
9.05: Global Markets
9.06: Introduction to Measuring Global Trade
9.07: Balance of Trade and Balance of Payments
9.08: Countertrade
9.09: Introduction to Global Business Strategies
9.10: Global Business Strategies
9.11: Introduction to Global Trade Forces
9.12: Sociocultural Differences
9.13: Political and Economic Differences
9.14: Legal Differences
9.15: Physical and Environmental Differences
9.16: Tariff and Nontariff Trade Restrictions
9.17: Introduction to Global Trade Agreements and Organizations
9.18: The World Trade Organization (WTO)
9.19: The World Bank
9.20: The International Monetary Fund (IMF)
9.21: Trade Agreements
9.22: Introduction to Ethical Challenges in the Global Environment
9.23: Corruption
9.24: Labor Abuses
9.25: Putting It Together- Global Environment
9.26: Discussion- Sending Salty Pawz Global
9.27: Discussion- Made in America
9.28: Assignment- Taking Salty Pawz to the Global Market
9.29: Assignment- We Do It Better Here
10: Module 3 Readings - Business Ethics
10.01: Reading- Moral Ethical and Legal Perspectives
10.02: Reading- Ethical and Unethical Business Decisions
10.03: Reading- Identifying Ethical Issues
10.04: Reading- The Organizational Approach to Ethics
10.05: Reading- Corporate Social Responsibility
10.06: Reading- Demands for Corporate Social Responsibility
10.07: Reading- Stakeholder Theory and Corporate Social Responsiblity
11: Module 4- Financial Markets and System
11.01: Why It Matters- Financial Markets and System
11.02: Introduction to Money
11.03: What Is Money
11.04: Alternatives to Traditional Currency
11.05: Introduction to Role of Banks
11.06: Measuring and Tracking the Money Supply
11.07: Banks As Financial Intermediaries
11.08: The Federal Reserve System
11.09: How a Central Bank Executes Monetary Policy
11.10: Chair the Fed
11.11: Introduction to Financial Markets and Business
11.12: Financial Markets
11.13: How Businesses Raise Financial Capital
11.14: Putting It Together- Financial Markets and System
11.15: Discussion- Why Wanda Cares About the Federal Reserveor Does She
11.16: Discussion- Do You Have Change for a 20
11.17: Assignment- Show Wanda the Money
11.18: Assignment- The Most Powerful Person in the World
12: Module 4 Readings - Entrepreneurship
12.01: Reading- The Importance of Small Business to the U.S. Economy
12.02: Reading- What Is an Entrepreneur
12.03: Reading- Why Start Your Own Business
12.04: Reading- Advantages and Disadvantages of Business Ownership
12.05: Reading- Is Entrepreneurship for You
12.06: Reading- Twenty Questions Before Starting a Business
12.07: Reading- Ten Steps to Starting a Business
12.08: Reading- Create Your Business Plan
12.09: Reading- Why Do So Many Small Business Startups Fail
13: Module 5- Legal Environment
13.01: Why It Matters- Legal Environment
13.02: Introduction to the Meaning and Purpose of Law
13.03: Understanding Law
13.04: Purposes of Law
13.05: Rule of Law
13.06: Introduction to Statutory and Common Law
13.07: Statutory vs. Common Law
13.08: Introduction to Tort Law
13.09: Tort Law
13.10: Product Liability
13.11: Compensatory and Punitive Damages
13.12: Introduction to Intellectual Property
13.13: Intellectual Property
13.14: Introduction to Warranties
13.15: Warranties
13.16: Introduction to Contracts
13.17: What Is a Contract
13.18: Breaches of Contracts
13.19: Introduction to Consumer Protection and Antitrust Laws
13.20: Consumer Protection
13.21: Antitrust Legislation
13.22: Putting It Together- Legal Environment
13.23: Discussion- They Dont Sue Dog-Treat Companies Do They
13.24: Discussion- The Product-Liability Debate
13.25: Assignment- Your Dog Treats Made Fluffy Sick
13.26: Assignment- Who Is Suing Whom
14: Module 5 Readings - Global Environment
14.01: Reading- What Is International Business
14.02: Reading- The Balance of Trade
14.03: Reading- Absolute and Comparative Advantage
14.04: Reading- The Global Business Environment
14.05: Reading- The Global Economic and Regulatory Environment
14.06: Reading- Global Business Ethics
14.07: Reading- Ethics and Corruption
14.08: Reading- Currency Valuations and Exchange Rates
14.09: Reading- The IMF and the World Bank- How Do They Differ
14.10: Reading- International Economic Cooperation among Nations
15: Module 6- Business Ethics and Corporate Social Responsibility
15.01: Introduction to Ethical and Legal Behavior
15.02: Ethical and Legal Behavior
15.03: Introduction to Business Ethics
15.04: Building Business Ethics
15.05: Introduction to Ethical Challenges
15.06: Bribery and Kickbacks
15.07: Conflict of Interest
15.08: Whistleblowing
15.09: Examples of Unethical Business Behavior
15.10: Case Study- Microsofts Gift to Bloggers
15.11: Introduction to Corporate Social Responsibility
15.12: Corporate Social Responsibility
15.13: Examples of Corporate Social Responsibility
15.14: Case Study- Social Entrepreneurship at Toms Shoes
15.15: Controversies Surrounding CSR
15.16: Putting It Together- Business Ethics and Corporate Social Responsibility
15.17: Discussion- Its Not Stealing if You Pay For It Is It
15.18: Discussion- Are They Simply Guidelines
15.19: Why It Matters- Business Ethics and Corporate Social Responsibility
15.20: Assignment- What They Dont Know Wont Hurt Me
15.21: Assignment- Corporate Social Responsibility
15.22: Assignment- Business Ethics and Corporate Social Responsibility
16: Module 6 Readings - Management
16.01: Reading- Managerial Skills
16.02: Reading- What Do Managers Do
16.03: Reading- Planning
16.04: Reading- Organizing
16.05: Reading- The Organization Chart and Reporting Structure
16.06: Reading- Leadership Styles
16.07: Reading- Controlling- A Five-Step Process
17: Module 7- Business Ownership
17.01: Why It Matters- Business Ownership
17.02: Introduction to Choosing an Organizational Type
17.03: Selecting a Form of Business Ownership
17.04: Introduction to Sole Proprietorships
17.05: Sole Proprietorships
17.06: Introduction to Partnerships
17.07: Partnerships
17.08: Introduction to Corporations
17.09: C and S Corporations
17.10: Benefit Corporations
17.11: Introduction to Hybrid Forms of Ownership
17.12: Limited Liability Company (LLC)
17.13: Limited Liability Partnership (LLP)
17.14: Introduction to Franchises
17.15: Franchises
17.16: Introduction to Mergers and Acquisitions
17.17: Mergers and Acquisitions
17.18: Putting It Together- Business Ownership
17.19: Discussion- Business Structure Does Matter
17.20: Discussion- Entrepreneurs and Business Ownership
17.21: Assignment- Wandas Business-Ownership Options
17.22: Assignment- Franchisingan Alternative to Start-up
18: Module 7 Readings - Legal Ownership
18.01: Reading- Selecting a Form of Business Ownership
18.02: Reading- Sole Proprietorship and Partnerships
18.03: Reading- Corporations
18.04: Reading- Hybrid Forms of Organization
18.05: Reading- Franchising
18.06: Reading- Mergers and Acquisitions
19: Module 8- Entrepreneurship
19.01: Why It Matters- Entrepreneurship
19.02: Introduction to Small Business
19.03: Understanding Small Businesses
19.04: Contributions of Small Businesses on the U.S. Economy
19.05: Introduction to Entrepreneurs
19.06: What Is an Entrepreneur
19.07: Types of Entrepreneurs
19.08: Reasons to Be an Entrepreneur
19.09: Introduction to Advantages Disadvantages and Considerations
19.10: Advantages and Disadvantages of Small-Business Ownership
19.11: Why Some Ventures Fail
19.12: Considerations When Starting a Business
19.13: Introduction to Steps to Starting a Business
19.14: Ten Steps to Starting a Business
19.15: Introduction to Business Plans
19.16: Create Your Business Plan
19.17: Putting It Together- Entrepreneurship
19.18: Discussion- Wandas Entrepreneurial Spirit
19.19: Discussion- Am I an Entrepreneur
19.20: Assignment- Dear Wandas Mom
19.21: Assignment- Todays Hottest Entrepreneurs
20: Module 8 Readings - Managing Processes
20.01: Reading- Operations Management in Manufacturing and Production
20.02: Reading- Facility Layouts
20.03: Reading- The Technology of Goods Production
20.04: Reading- Operations Management for Service Providers
20.05: Reading- Graphical Tools- Gantt and PERT Charts
20.06: Reading- Supply Chain Management
20.07: Reading- Producing for Quality
20.08: Reading- Outsourcing
21: Module 9- Management
21.01: Why It Matters- Management
21.02: Introduction to Managers
21.03: Managerial Levels
21.04: Managerial Skills
21.05: Introduction to Management Theory
21.06: Scientific Management Theory
21.07: Field of Management Theory
21.08: Introduction to Planning
21.09: Planning
21.10: Introduction to Organizing
21.11: Organizing
21.12: Introduction to Leading
21.13: Different Management Styles
21.14: Different Leadership Styles
21.15: Introduction to Controlling
21.16: Controlling
21.17: Putting It Together- Management
21.18: Discussion- How Great Leaders Inspire Action
21.19: Assignment- One Owner Many Hats
21.20: Assignment- Are Leaders Born or Made
22: Module 9 Readings - Teamwork and Communication
22.01: Reading- The Team and the Organization
22.02: Reading- Stages of Team Development
22.03: Reading- Why Teamwork Works
22.04: Reading- Effective Communication in Business
22.05: Reading- Appropriate Business Communications
22.06: Reading- Communication Channels
22.07: Reading- Communication Barriers
23: Module 10- Motivating Employees
23.01: Why It Matters- Motivating Employees
23.02: Introduction to the Hawthorne Effect
23.03: The Hawthorne Studies
23.04: Introduction to Need-Based Theories
23.05: Maslows Hierarchy of Needs
23.06: Alderfers ERG Theory
23.07: Intrinsic and Extrinsic Motivators
23.08: McClellands Acquired Needs Theory
23.09: Introduction to Process-Based Theories
23.10: Equity Theory
23.11: Expectancy Theory
23.12: Reinforcement Theory
23.13: Introduction to Theory X Theory Y and Theory Z
23.14: McGregors Theory X and Theory Y
23.15: Ouchis Theory Z
23.16: Introduction to Strategies for Motivating Employees
23.17: Job Design and Job Characteristics Theory
23.18: Goal-Setting Theory
23.19: Motivation in Todays Workplace
23.20: Putting It Together- Motivating Employees
23.21: Discussion- Why Isnt Jamie More Motivated
23.22: Discussion- Motivate Me
23.23: Assignment- Motivating with Dog Treats
23.24: Assignment- Whats Empowerment Got to Do with It
24: Module 10 Readings - Motivating Employees
24.01: Reading- Introduction to Motivational Theory
24.02: Reading- Fredrick Taylors Scientific Management
24.03: Reading- The Hawthorne Studies
24.04: Reading- Need-Based Motivation Theories
24.05: Reading- Process-Based Theories
24.06: Reading- Douglas McGregors Theory X and Theory Y
24.07: Reading- Job Models and Goals
25: Module 11- Teamwork and Communication
25.01: Why It Matters- Teamwork and Communication
25.02: Introduction to Teams
25.03: Differences Between Groups and Teams
25.04: Types of Teams
25.05: Introduction to Team Development and Success
25.06: Stages of Team Development
25.07: Team Success
25.08: Introduction to Effective Communication and Barriers
25.09: Effective Communication and Barriers
25.10: Introduction to Communication Channels Flows and Networks
25.11: Communication Channels
25.12: Communication Flows
25.13: Communication Networks
25.14: Introduction to Electronic Communication
25.15: Electronic Communication
25.16: Putting It Together- Teamwork and Communication
25.17: Discussion- What You Heard Was Not What I Meant
25.18: Discussion- The Ultimate Cost of Poor Communication
25.19: Assignment- Teamwork at Salty Pawz
25.20: Assignment- Multicultural Virtual Work Teams
25.21: Assignment- Formal and Informal Communication
26: Module 11 Readings - Human Resource Management
26.01: Reading- Human Resource Management
26.02: Reading- Working with Labor Unions
26.03: Reading- Collective Bargaining
26.04: Reading- Employee Rights- Job Protection and Privacy
26.05: Reading- Multiculturalism and the Law
26.06: Reading- The Recruitment Process
26.07: Reading- Performance Appraisal
26.08: Reading- Todays HRM Challenges
27: Module 12- Managing Processes
27.01: Why It Matters- Managing Processes
27.02: Introduction to Operations Management
27.03: Operations Management
27.04: Operations Management in the Service Industry
27.05: Introduction to Production Processes
27.06: Project- or Job-Based Production
27.07: Batch Production
27.08: Mass Production
27.09: Introduction to Production Planning
27.10: Facility Location and Layout
27.11: Materials Planning and Inventory Control
27.12: Scheduling Tools
27.13: Introduction to New Technologies
27.14: New Technologies
27.15: Introduction to Supply Chain Management and Logistics
27.16: Supply Chain Management and Logistics
27.17: Introduction to Quality Assurance
27.18: Quality Assurance
27.19: Putting It Together- Managing Processes
27.20: Discussion- More Than Just Baking Treats
27.21: Discussion- How Things Are Made
27.22: Assignment- From Kitchen Baker to Operations Manager
27.23: Assignment- The Malcolm Baldridge Award
28: Module 13- Marketing Function
28.01: Why It Matters- Marketing Function
28.02: Introduction to Role of Customers
28.03: Marketing Defined
28.04: How Companies Approach Marketing
28.05: Value Proposition
28.06: Marketing and Customer Relationships
28.07: Influences on Consumer Decisions
28.08: Buying-Process Stages
28.09: Introduction to Segmentation and Targeting
28.10: Defining Your Target Market
28.11: The Importance of Marketing Information and Research
28.12: The Marketing Research Process
28.13: Introduction to Marketing Mix Introduction
28.14: Defining the Marketing Mix
28.15: Components of the Marketing Mix
28.16: Finding the Right Marketing Mix
28.17: Creating and Aligning the Marketing Strategy
28.18: Putting It Together- Marketing Function
28.19: Discussion- Customer Value Perception
28.20: Discussion- Black Friday and Cyber Monday
28.21: Assignment- Customers and Marketing at Salty Pawz
28.22: Assignment- Hit Your Target
28.23: Assignment- Marketing Mix Examples
28.24: Module 12- Marketing
28.24.01: Reading- Introduction to Product Pricing
28.24.02: Reading- The Promotion Mix- The Fourth P
28.24.03: Reading- Introduction to Social Media Marketing
28.24.04: Reading- Defining Marketing
28.24.05: Reading- The Four Ps of Marketing
28.24.06: Reading- The Marketing Environment
28.24.07: Reading- Generation Effects and Consumer Behavior
28.24.08: Reading- Using Market Research to Understand Consumers
28.24.09: Reading- The Market Research Process
28.24.10: Reading- Developing Organizational Objectives and Formulating Strategies
28.24.11: Reading- Overview of the Marketing Plan
28.24.12: Reading- Branding
29: Module 14- Marketing Mix
29.01: Why It Matters- Marketing Mix
29.02: Introduction to Product
29.03: Consumer Product Categories
29.04: Elements and Benefits of Branding
29.05: Common Branding Strategies
29.06: Stages of the Product Life Cycle
29.07: Marketing through the Product Cycle
29.08: The New-Product Development Process
29.09: Introduction to Promotion
29.10: Integrated Marketing Communication (IMC) Definition
29.11: Common Marketing Communication Methods
29.12: Using IMC to Support Marketing Strategies
29.13: Introduction to Place
29.14: Channels of Distribution
29.15: Channel Partners
29.16: The Role of Wholesale Intermediaries
29.17: Retailers that Distribute Products
29.18: Supply Chains and Distribution Channels
29.19: Introduction to Price
29.20: Customer Value and Price
29.21: Pricing Objectives
29.22: Cost-Plus Pricing Method
29.23: Discounting Strategies
29.24: Putting It Together- Marketing Mix
29.25: Discussion- Marketing Mix
29.26: Discussion- The Four Ps of the Competition
29.27: Assignment- The Four Ps of Gourmet Dog Treats
29.28: Assignment- I Can See the Four Ps of Marketing
30: Module 14 Readings - Financial Markets and System
30.01: Reading- The Functions of Money
30.02: Reading- The Federal Reserve System
30.03: Reading- Financial Institutions
30.04: Reading- Electronic Alternatives to Raw Cash- The Advent of Cashless Society
30.07: Reading- Investments and Markets- A Brief Overview
30.08: Reading- Measuring Return
31.05: Reading- Bitcoin and Virtual Currencies
31.06: Reading- Mobile Commerce and Mobile Payment Systems
31.09: Reading- Measuring Risk
32: Module 15- Human Resource Management
31.01: Why It Matters- Human Resource Management
31.02: Introduction to Human Resource Management
31.03: Human Resource Management
31.04: Introduction to Human Resources and Laws
31.05: Employment Legislation
31.06: Introduction to Recruitment and Hiring
31.07: Diversity in Human Resources
31.08: Recruitment
31.09: The Hiring Process
31.10: Introduction to Training Development and Rewards
31.11: Training and Professional Development
31.12: Performance Appraisals
31.13: Compensation
31.14: Introduction to Termination
31.15: Termination
31.16: Introduction to HR Challenges
31.17: Reducing Turnover
31.18: HR Challenges
31.19: Putting It Together- Human Resource Management
31.20: Discussion- People Wont Work for Dog Treats
31.21: Discussion- Are Interviews a Waste of Time
31.22: Assignment- Wandas Hiring Approach or How to Be Sued in One Easy Lesson
31.23: Assignment- Career Choices
32: Module 16- Accounting and Finance
32.01: Why It Matters- Accounting and Finance
32.02: Introduction to Accounting in Business
32.03: What Is Accounting
32.04: Introduction to Key Financial Statements
32.05: Financial Statements
32.06: Financial Statements- Interconnectivity
32.07: Introduction to the Break-Even Point
32.08: Finding the Break-Even Point
32.09: Simulation- The Rise of the Business Guru
32.10: Introduction to Financial Ratios
32.11: Financial Ratio Analysis
32.12: Introduction to Ethical Practices in Accounting
32.13: Ethics in Accounting
32.14: Putting It Together- Accounting and Finance
32.15: Discussion- Cooking More Than Dog Treats
32.16: Discussion- CPAs and Financial Crisis
32.17: Assignment- Bison Are Biting into Wandas Break-Even Point
32.18: Assignment- Claires Cuttery
33: Module 17- Using Technology to Manage Business Information
33.01: Why It Matters- Using Technology to Manage Business Information
33.02: Introduction to Technological Changes in Business
33.03: Using Technology
33.04: Technologys Influence on Business
33.05: Business Intelligence
33.06: Introduction to How Businesses Use Information
33.07: Data vs. Information
33.08: Business Data
33.09: Data Mining and Warehousing
33.10: Information and Business
33.11: Introduction to Information Networks
33.12: The Internet and Cloud Computing
33.13: Intranets and Extranets
33.14: Virtual Private Networks (VPNs)
33.15: Introduction to Current Issues in IT
33.16: Security Issues in Information Technology
33.17: Ethical and Social Issues in Information Technology
33.18: Putting It Together- Using Technology to Manage Business Information
33.19: Discussion- Wanda on the Web
33.20: Assignment- Policy at Salty Pawz
33.21: Readings- Information Technology and Business
33.21.01: Reading- Data vs. Information
33.21.02: Reading- Managing Data
33.21.03: Reading- Computer Networks and Cloud Computing
33.21.04: Reading- Ethical and Social Issues
33.21.05: Reading- Security Issues in Electronic Communication