Chapter 1:

Chapter 1: Chapter 1: - Start

2015-10-31 32K 32 0 0

Download Presentation

Chapter 1:




Download Presentation - The PPT/PDF document "Chapter 1:" is the property of its rightful owner. Permission is granted to download and print the materials on this web site for personal, non-commercial use only, and to display it on your personal computer provided you do not modify the materials and that you retain all copyright notices contained in the materials. By downloading content from our website, you accept the terms of this agreement.



Presentations text content in Chapter 1:

Slide1

Chapter 1: Business Now

Change is the Only Constant

Slide2

2

Copyright © 2014 by Nelson Education Limited

Looking Ahead

LO1 Define business and discuss the role of business in the economy

LO2 Explain the evolution of modern business

LO3 Discuss the role of not-for-profit organizations in

the

economy

Slide3

3

Copyright © 2014 by Nelson Education Limited

LO4 Outline the core factors of production and how they influence the economyLO5 Describe today’s business environment and discuss each key dimensionLO6 Explain how current business trends might influence your career choices

Looking Ahead

Slide4

4

Copyright © 2014 by Nelson Education Limited

LO1 Business Now:Moving at Breakneck Speed

In the last decade, the players, what consumers want, and how we buy has changed

Companies are being launched and growing faster than ever

Mature firms are being merged, acquired, and dissolved

Slide5

5

Copyright © 2014 by Nelson Education Limited

Business – any activity that provides goods and services in an effort to earn profit

Not-for-profit organizations – focus on causes not profit

Business Basics

Slide6

6

Copyright © 2014 by Nelson Education Limited

Profit – the financial reward that comes from starting and running a business; the money that a business earns in sales (or revenue), minus expenses

Business Basics

Slide7

7

Copyright © 2014 by Nelson Education Limited

Business Basics

Entrepreneurs – people who risk time, money, and other resources to start and manage a business

Business drives up the

Standard of Living

,

which, in turn, contributes

to the

Quality of Life

Slide8

8

Copyright © 2014 by Nelson Education Limited

Business Encourages Entrepreneurial Spirit

Slide9

9

Copyright © 2014 by Nelson Education Limited

LO2 The History of Business:Putting It All In Context

Relationship Era

Marketing Era1950s

Production EraEarly 1900s

Entrepreneurship EraSecond half of 1800s

Industrial Revolution1700-mid 1800s

Mass Production

Factories

Work Specialization

Efficiency

Industrial Titans

Wealth Creation

Increase in Living Standard

Manipulation/Competition

Exploitation

Assembly Line

Refining ProductionProductivity GainsDecrease CostsHard SellNo Customer Focus

Consumer PowerGrowth in ConsumerismProduct DifferentiationCustomer Focus

Long-term

Relationships

Satisfied Customers

Use of Technology

Slide10

10

Copyright © 2014 by Nelson Education Limited

LO3 Not-For-Profit Organizations and the Economy: The Business of Doing Good

Not-for-profit organizations focus on health, human services, education, art, religion, and culture

Canada’s 161 000 non-profits contribute more than $80 billion to the economy

While focused on “doing good” rather than financial gain, non-profits are businesses in every other sense: they employ people, take in revenue, and produce goods and services

Slide11

11

Copyright © 2014 by Nelson Education Limited

LO4 Factors of Production: The Building Blocks

Businesses rely on some combination of these factorsEntrepreneurial activity can kick-start an economy by harnessing the other factors of production

Natural Resources

Capital

Human Resources

Entrepreneurship

Slide12

12

Copyright © 2014 by Nelson Education Limited

LO5 The Business Environment: The Context for Business

Slide13

13

Copyright © 2014 by Nelson Education Limited

Government takes an active role to support businesses:Economic development is supported by Industry CanadaProvinces promote economic development by providing investment and tax incentives Legislation supports enforceable contracts

Economic Environment

Free enterprise and fair competition flourish in Canada

Slide14

14

Copyright © 2014 by Nelson Education Limited

Economic Vulnerabilities

CEO/Worker pay gap

Corruption and ethical lapses

Consumer debt

Federal/provincial debt

Slide15

15

Copyright © 2014 by Nelson Education Limited

Competitive Environment

Today’s competition is intense

Companies must focus on loyal customers because they are the

vocal promoters of their products/services

Slide16

16

Copyright © 2014 by Nelson Education Limited

Competitive Environment

Companies must provide unsurpassed value

Value is the size gap between benefit and price

The cheapest product does not mean value

The key to value is quality

Slide17

17

Copyright © 2014 by Nelson Education Limited

17

Copyright © 2011 by Nelson Education Limited

Competitive Environment

How fast firms get products to market can be a competitive advantageBleeding edge firms launch products that fail because they are ahead of the marketLeading edge firms offer products just as the market is ready

Apple computers was not first to the MP3 market but they now own 75% market share

Employees are another key competitive advantage

Slide18

18

Copyright © 2014 by Nelson Education Limited

Competitive Principles

Avoid your competitors’ strengths and exploit their weaknesses; don’t try and beat them at their game

Always be a little paranoid; never underestimate your competition

Competitors will usually get better when pushed

Competitors are sometimes irrational when pushed

Slide19

19

Copyright © 2014 by Nelson Education Limited

Top 10 global brands all U.S.-basedJapan, Germany, Finland, S. Korea, and France-based brands all included among the next 10 best

Insert exhibit 1.3, p. 8, C2e

Competition is Changing

Slide20

20

Copyright © 2014 by Nelson Education Limited

Inventions with Impact(Can you identify four Canadian inventions?)

LaptopBlackberryViagraCamcorder

Cat litterPoutineInsulinBikinis

Disposable diapers Zippers

Kool-Aid Astroturf

Great Inventions that have impacted human life….for better or for worse

Slide21

21

Copyright © 2014 by Nelson Education Limited

Technological Environment

Business technology includes any tools that businesses can use to become efficient and effective

Source of competitive advantage

Industries have experienced dramatic change

New industries have emerged

Slide22

22

Copyright © 2014 by Nelson Education Limited

Technological Environment

Technology continues to evolve at breakneck speed; the change in everyday life and business operations is almost unimaginableCompanies that welcome change and manage it well will clearly be the winners

Slide23

23

Copyright © 2014 by Nelson Education Limited

Social Environment

DiversityAging populationRising worker expectationsEthics and social responsibility

Slide24

24

Copyright © 2014 by Nelson Education Limited

Shades of Green: The Six Sins of Greenwashing

Sin of hidden trade-off

Sin of no proof

Sin of vagueness

Sin of irrelevance

Sin of lesser of two evils

Sin of fibbing

Slide25

25

Copyright © 2014 by Nelson Education Limited

Global Environment

Terrorism is more of a threat today

Job Migration

China and India’s economies are growing

Technology

Free TradeNatural Disasters

Blurred lines between countries/world

Technology is linking

customers/suppliers

worldwide

Slide26

26

Copyright © 2014 by Nelson Education Limited

Global Environment

Both China and India have been growing relatively fast due to foreign investment and internal development

China has been a magnet for manufacturing jobs and India for high tech jobs

Slide27

27

Copyright © 2014 by Nelson Education Limited

LO6 Business and You:Making it Personal

What are your passions?

What are business careers that encompass your passions?

Slide28

28

Copyright © 2014 by Nelson Education Limited

Looking Back

What is the role of business in the economy?

How has business evolved?

What is the role of non-profits in the economy?

Slide29

29

Copyright © 2014 by Nelson Education Limited

Looking Back

What are the core factors of production?

What are the elements of the environment affecting business?

How are business trends impacting careers?


About DocSlides
DocSlides allows users to easily upload and share presentations, PDF documents, and images.Share your documents with the world , watch,share and upload any time you want. How can you benefit from using DocSlides? DocSlides consists documents from individuals and organizations on topics ranging from technology and business to travel, health, and education. Find and search for what interests you, and learn from people and more. You can also download DocSlides to read or reference later.