Business Concepts 101

Upon successful completion of this course the students will have reliably demonstrated the
ability to:

1. Analyze Trends and Economic Challenges Facing Contemporary Business.
   
   

   Distinguish between the operations and challenges of for-profit and not-for-profit organizations. Compare and contrast the challenges and benefits of the three major types of economic systems and how the factors of production are distributed/used in each system. 

   • Analyze the changing nature of today’s workforce and detail the skills and attributes managers need to lead businesses in the dynamic 21st century.

   • Differentiate the six eras of business, and describe how the private enterprise system has changed the way businesses operate.

   • Differentiate between microeconomic and macroeconomic issues that affect business and the overall economy in 21st century.
     
     

2. Examine Current Approaches by Business to Address Social Responsibility and Ethical Issues
   
   Distinguish between Corporate Social Responsibility and Ethics, and describe how a businesses’ social responsibility is measured
   • Examine the factors that influence business ethics and the
     strategies used by organizations to shape ethical behavior in the workplace
   • Explain why investors and the financial community are concerned with business ethics and social responsibility
     
     
3. Record transactions, post to ledger and prepare a trial balance.
   
   Examine the importance of globalization and international trade, and how countries benefit from absolute and comparative advantage.
   • Identify major barriers to international trade, and the strategies used by businesses to reduce those barriers.
   • Examine different strategies used by
     businesses to enter international markets, and how those strategies impact the domestic and
     global economy.
   • Analyze how a global business strategy differs from a multi-domestic
     business strategy, and how they both impact or hinder business and economic growth.
     
     
4. Differentiate the Forms Of Business Ownership and What it Takes For Small Businesses
   to Grow
   
   Examine the differences between small/large businesses, and how small businesses contribute to the economy.
   • Summarize the features of an effective business plan Identify funding and other opportunities for small businesses, including the assistance provided by the Business Development Bank of Canada (BDC)
   • Detail how franchising provides opportunities for both franchisors and franchisees Differentiate the different forms of business ownership, including
     collective (co-operative) and public ownerships.
   • Compare and contrast mergers, acquisitions and joint ventures
     
     
5. Characterize the Attributes Associated with Successful Entrepreneurship.
   
   Distinguish between entrepreneurs, small-business owners, and managers Examine the different types of entrepreneurs, and the factors that support and expand opportunities for them.
   
   
6. Examine Management Strategies Utilized to Build and Sustain Top Performing
   Organizations.