商槪商學(xué)精要期末重點(diǎn)

1、Chapter 1Define business and profitsBusiness- An organization that provides goods and services to earn profits Profits: The positive difference between revenues and expensesrewards for businesspeople who take the risks2. Distinguish between business and not-for-profit organizationsBusiness consists

2、of all profit-seeking activities and enterprises that provide goods and services necessary to an economic system. entpraz 事業(yè)，項(xiàng)目 Not-for-profit organizations are business like establishments (機(jī)構(gòu);團(tuán)體;企業(yè)) that have primary objectives other than returning profits to their owners. It operates in both publ

3、ic service and private sector (部門，行業(yè)，領(lǐng)域).3. Identify the factors of production. Labor, capital, entrepreneurs (ntrprn:(r) 企業(yè)家), physical resources, information resources. 4. Global economic systemsPlanned economy, market economy and mixed economiesPlanned Economy: An economic system in which the gov

4、ernment owns and operates all sources of productionMarket Economy: An economic system in which buyers and sellers interact (ntrkt 互相作用； 互相影響) based on freedom of choice Mixed Economies: Planned and Market The economies of most countries include both planned and market elements.Distinguish between mi

5、croeconomics and macroeconomics. Microeconomics微觀經(jīng)濟(jì)學(xué)study of small economic units, such as individual consumers, families, and businesses. For example, demand &supply, consumer choices.Macroeconomics宏觀經(jīng)濟(jì)學(xué)study of a nations overall economic issues, such as how an economy maintains and allocates resou

6、rces and how government policies affect the standards of living of its citizens. For example, GDP.Explain the factors that drive demand and supply.(1)Factors Driving Demand 1) Price 2)Customer preferences and income 3) Prices of substitute (sbsttju:t 替代旳) and complementary （kmplmentri 互補(bǔ)旳）items 4) N

7、umber of buyers in the market 5) Consumers optimism about the future.（2）Factors Driving Supplyfactors of production (Central role in determining the overall supply of goods and services is played by factors of production.)Other factors like taxes and the number of suppliers will also influence the s

8、upply.Describe each of the four different types of market structures in a private enterprise system.Pure competition，monopolistic mnplistik competition(壟斷性競爭)，oligopoly( lgpl 寡頭, 求過于供旳市場狀況) and monopoly ( mnpl 壟斷)Pure competition exists when all firms in an industry are small and the number of firms

9、 is large. Prices are determined by market forces as supply and demand.In monopolistic competition, many sellers try to make their products at lease seem to be different from those of competitors. Product differentiation gives sellers some control over prices.When an industry has only a handful of s

10、ellers, an oligopoly exists. The entry of new competitors is hard. And the prices of comparable products are usually similar.A monopoly exists when an industry or market has only one producer. A sole supplier enjoys nearly complete control over the prices of its products. Identify and describe the f

11、our stages of the business cycle. Prosperity, 繁華； recession 衰退； depression 蕭條； recovery 復(fù)蘇prspert rsen dprenExplain how productivity, price-level changes, and employment levels affect the stability of a nations economy.Discuss how monetary policy and fiscal policy are used to manage an economys perf

12、ormance. Monetary Policy 貨幣政策government actions to increase or decrease the money supply and change banking requirements and interest rates to influence bankers willingness to make loans.Fiscal Policy 財(cái)政政策Government influences economy by spending and taxation decisions. Government uses fiscal policy

13、 to control inflations (nflen 通貨膨脹), reduce unemployment, improve the general welfare of citizens, and encourage economic growth. Chapter 21. Explain the concepts of business ethics and social responsibility.Business ethics are standards of business conduct and moral values by employees on the jobSo

14、cial responsibility refers to the overall way in which a business attempts to balance its commitments to relevant groups and individuals in its social environments. Describe the factors that influence business ethics, at individual, organizational, legal, societal levelsIndividual: values, work back

15、ground, family status, personalityOrganizational: Top Level Mgmt. Philosophy, the Firms Reward System, Job DimensionsEnvironmental: Competition, economic conditions, social/cultural institutions3. List the stages in the development of ethical standards. Stage 1: Preconventional Individual is mainly

16、looking out for his or her interest. Rules are followed only out of fear of punishment or hope of reward. Stage 2: Conventional Individual considers the interests and expectations of others in making decisions. Rules are rules are followed because it is a part of belong to the groups.Stage 3: postco

17、nventional Individual follows personal principles for resolving ethical dilemmas. He or she considers personal, group and social interests.Identify common ethical dilemmas in the workplace.Conflict of interest, honesty and integrity(正直), loyalty VS truth, whistle-blowing(揭發(fā)).Discuss how organization

18、s shape ethical behavior.Summarize the responsibilities of business to the general public, customers, employees and investors.Responsibilities to the General PublicPublic Health IssuesProtecting the Environment Green washing: Using advertising to project a green image without substantially altering

19、processes or products Recyclingreprocessing of used materials for reuse c) Developing the Quality of the Workforce d) Corporate Philanthropy (flnrp 慈善事業(yè))Responsibility Toward Customers Consumer Rights, Unfair Pricing, Ethics in AdvertisingResponsibility Toward EmployeesWorkplace Safety; Quality of L

20、ife Issues.Responsibility Toward InvestorsImproper financial management; Check kiting空頭; Insider trading ;Misrepresentation of financesExplain different stances in CSR DefensiveDefensiveStance防衛(wèi)立場ObstructionistStance阻礙立場bstrknstAccommodativeStance接納立場kmdetvProactiveStance積極立場LowestHighestActively Av

21、oids ResponsibilityDoes Legal MinimumResponds to RequestsActively Seeks Opportunities to ContributeChapter 3Identify the industries in which most small firms are establishedServices, retailing(ri:tel 零售業(yè)), construction建筑業(yè), wholesaling批發(fā), finance and insurance, manufacturing制造業(yè),transportation.2. Comp

22、are the advantages and disadvantages of small businesses.Small firms can often operate with greater flexibility than larger corporations can achieve. This flexibility allows small business to develop innovative products, lower costs, provide superior customer service, and fill isolated niches. aslet

23、d 偏遠(yuǎn)旳 ntiz 商機(jī) However, small business also must operate with fewer resources than large corporations can apply. As a result, they must suffer from financial limitations and management shortcomings. Taxes and government regulation can also impose excessive burdens on small business.3. Explain how fra

24、nchising can provide opportunities for both franchisors and franchisees.（找不到） Franchisees benefit from the parent corporations experience and expertise. The franchiser may pick the store location, negotiate the lease, purchase equipment, and support financing. Franchising offers the benefit of brand

25、 recognition, which can make it easier to attract customers and reduce the costs pf advertising as well as increase the likelihood of success. Define the term entrepreneur and distinguish among entrepreneurs, small-business owners, and managers.（找不齊）Entrepreneur:Businessperson who accepts the risks

26、and opportunities of creating, operating and growing a new businessSmall Business Owner:Does not have plans for growth.Starting and funding a small businessStarting from Scratch skrt 從零開始;從頭做起;白手起家Disadvantage: Higher risk of business failureAdvantage: Avoids problems of an existing businessBuying a

27、n Existing BusinessSome prefer not to assume the risks of starting a new firmFranchisingAnother less risky way to begin a businessCf. equity financing and debt financingIdentify three different types of entrepreneurs. 企業(yè)家Classic entrepreneursperson who sees a business opportunity and use resources t

28、o tap that market.Intrapreneurperson who develops innovations within a large organization. ntrprni: 內(nèi)企業(yè)家, 內(nèi)部Change Agentmanager who tries to revitalize an established firm to keep it competitive. ri:vatlaz vt. 使恢復(fù)元?dú)猓?使新生； 使復(fù)興Identify personality traits that typically characterize successful entrepre

29、neurs. Successful entrepreneurs may have several traits, including vision, high energy level, need to achieve, self-confidence and optimism, tolerance for failure, creativity, tolerance for ambiguity, and international locus of control. 1) Are resourceful and open-minded2) Are concerned about good c

30、ustomer relations3) Desire to be their own boss4) Can deal with uncertainty and risk5) Rely on networks, business plans, and consensusSummarize the three basic forms of business ownership and the advantages and disadvantages of each form.1)Sole Proprietorships ( prpratp 所有權(quán)) 個(gè)人獨(dú)資企業(yè)Disadvantages:Unli

31、mited LiabilityLimited resourcesDisadvantages:Unlimited LiabilityLimited resourcesLimited fundraising capabilityLack of continuity Freedom Simple to form Low start up costs Tax benefits2) Partnerships合作企業(yè)Disadvantages:Unlimited liabilityDisagreements among partnersDisadvantages:Unlimited liabilityDi

32、sagreements among partnersLack of continuitykntnju:t 持續(xù)性;連貫性More talent and moneyMore fundraising capability fndrez 籌款旳Relatively easy to formTax benefitsDisadvantages:Double taxationFluid controlDisadvantages:Double taxationFluid control flu:d不穩(wěn)定旳Complicated and expensive to form Advantages:Limited

33、 LiabilityContinuity連貫性Stronger fundraising capabilityDescribe recent trends in mergers合并and acquisitions收購.Mergerunion of two or more firms to form one companyAcquisitionpurchase of one company by anotherChapter 4Understand significance of globalization (I dont know.)Globalization can make use of i

34、nternational sources of factors of production.Globalization expends international markets.Globalization reduces firmsdependence on the economies of their home nationsDiscuss the relationship of absolute and comparative advantage to international trade. (I dont know.)Absolute Advantage exists when a

35、country can produce something that is cheaper or higher quality than other country.Comparative Advantage exists when a country can produce more efficiently or better than other nations.Both of them translate into competitive advantage.Describe how nations measure international trade and the signific

36、ance of exchange rates. Nations measure international trade by balance of trade, balance of payments and exchange Rates.Exchange Rates Heavily Impact Global TradeWhen an economys currency is strong:Domestic companies find it harder to export productsForeign companies find it easier to import product

37、sDomestic companies may move production to cheaper sites in foreign countriesWhen an economys currency is weak:Domestic companies find it easier to export productsForeign companies find it harder to import productsForeign companies may invest in production facilitiesIdentify the major barriers that

38、confront global businesses.1) Social and Cultural Differences, such as different Language, values and Religious Attitudes.2) Economic Differences, such as infrastructure, Currency Conversion and Shifts. nfrstrkt(r) 基礎(chǔ)設(shè)施； 基礎(chǔ)建設(shè)3) Political and Legal Differences, such as political climate, legal enviro

39、nment and international regulations.Explain how international trade organizations and economic communities reduce barriers to international trade. （不確定） Many international trade organizations promote International Trade to reduce barriers, such as World Trade Organization (WTO), World Bank, and Inte

40、rnational Monetary Fund Economic communities create partnerships, found free trade area, customs area and common market to reduce barriers. Such as European Union and North American Free Trade Agreement (NAFTA).Compare the different levels of involvement used by businesses when entering global marke

41、ts. Exporters and Importers International FirmsMultinational Firms 跨國旳Distinguish between a global business strategy and a multi-domestic business strategy.Global Business Strategies (Standardization) Offering a standardized, worldwide product and selling it in essentially the same manner throughout

42、 a firms domestic and foreign markets. Multi-domestic Business Strategy (Adaptation)Developing and marketing products to serve different needs and tastes of separate national markets. Chapter 5Summarize the major benefits of planning and distinguish among strategic planning, tactical planning, and o

43、perational planning.Planning helps a company to turn vision into action, take advantage of opportunities, and avoid costly mistakes.Strategic PlansSteps needed to meet strategic goals; resource allocations; focus on company prioritiesTactical PlansShorter-term plans for implementing specific aspects

44、 of the companys strategic plansOperational PlansShort-term targets for daily, weekly, or monthly performanceExplain the importance of setting goals and formulating strategies.Goal Setting: Provides direction and guidance for managers at all levels Helps firms allocate resources Helps to define corp

45、orate culture Helps managers assess performanceFormulating strategies describe an organizations intentions, outline how to meet the goals, and include the responsiveness to new challenges and new needs. Process of strategic planning.Step 1:Setting Strategic GoalsStrategic goals are derived from a fi

46、rms mission statementStep 2:Analyzing the Organization and the Environment: SWOT AnalysisAssessing internal strengths and weaknesses and external opportunities and threatsEnvironmental analysisOrganizational analysisStep 3:Matching the Organization and Its EnvironmentMatching environmental threats a

47、nd opportunities against corporate strengths and weaknessesDiscuss conditions that encourage opportunities for entrepreneurs.Identify types of managers by level and area.(見另一份)by level：top managers, middle managers, supervisory managers(first-line managers)by area: human resources managers, operatio

48、n managers, marketing managers, information managers, financial managers and other managers.Describe the basic management skills.Technical skillsability to understand and apply the techniques, knowledge, and tools and equipment of a specific discipline or departmentHuman skillsinterpersonal skills t

49、hat enable a manager to work effectively with and through peopleConceptual skills knseptul adj. 觀念旳，概念旳ability to see the organization as a unified whole and to understand how each part of the overall organization interacts with other partsDecision-Making SkillsTime-Management SkillsDescribe 3 types

50、 of leadership styles and how to choose the proper one Transactional leadership 交易型領(lǐng)導(dǎo) Transformational leadership變革型領(lǐng)導(dǎo) Charismatic leadership 魅力型領(lǐng)導(dǎo)Explain the development and importance of corporate culture. Corporate CultureShared experiences, stories, beliefs, and norms that characterize an organizationDefines the work and business climate in an organizationCulture takes time and effort to form and once formed, it is relatively stableisIt is