ENVIRONMENTS IN WHICH BUSINESSES OPERATE
ENVIRONMENTS IN WHICH BUSINESSES OPERATE
As you’ve read about, businesses exist and operate in many different environments. This has always been the case, but many consumers don’t realize the different environments or how businesses must adapt to operate in each.
According to your book, what are some of these environments? Can you give some examples as to how they might influence operations? In your opinion, which has the most influence?
Choose a business with which you’re familiar and use it to provide examples of how a business is affected by operating in each environment.
Here’s a quick video to help illustrate the environments.
Video: The External Business Environment
BUSN115 Introduction to Business and Technology
Week 2 Discussion
FORMS OF BUSINESS ORGANIZATIONS
A large part of this week’s material covers forms of business organizations. As you have seen, your choice of operating structure can have significant and long-lasting impacts on taxes, capital sources, and legal protection.
Provide an example of a business you would like to start (or work for, or have visited), and give a recommendation as to what form of organization they should consider and why. What are some of the major considerations?
Here’s a video that will help you better understand the forms of business organizations (business structure).
Video: Finding the Right Business Structure
BUSN115 Introduction to Business and Technology
Week 3 Discussion
MOTIVATION AND LEADERSHIP
Leadership and management styles can have a huge impact on employee motivation and production.
Your book states that Theory Z management is combination of Theory X and Y management. How is this so? Explain how Theory Z differs from both and when it may be appropriate to implement.
Here is a video which discusses Theory Z in the context of Theories X and Y
Video: Theory Z
BUSN115 Introduction to Business and Technology
Week 4 Discussion
ORGANIZATIONAL STRUCTURE
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Many organizations are structured differently. This structure can affect the success of the organization and some are more appropriate for certain operations. Pick a company and try to offer advice to the CEO about what organizational structure they should use (given the types in the book).
(For this example, you can ignore the company’s current org structure.)
Here’s a video on the matrix organization and where it’s headed in the future. This will help introduce you to some new terms and ideas.
Video: Matrix Organisational Structure
BUSN115 Introduction to Business and Technology
Week 5 Discussion
MARKETING
The Four Ps have been the foundation of studying marketing for many years. Let’s try to better understand each of the Four Ps by applying them to an actual product or service.
Choose your favorite product or service. Assume the role of a marketing consultant hired by the company. Assume sales have been doing great, but the company would like to know more about why. Define the Four Ps of the product or service and comment on strengths and weaknesses.
Here’s a video to help with understanding the Four Ps.
Video: The 4 Ps of Marketing
BUSN115 Introduction to Business and Technology
Week 6 Discussion
Advertising
Advertising is a small (but very visible) part of marketing. It can be used for many different purposes. There are a couple companies out there who really do this right and some who make inexcusable mistakes and oversights.
If a recent ad deterred you from buying the product, describe why. How would you change it? Share a link if you can (please be sure it’s appropriate).
BUSN115 Introduction to Business and Technology
Week 7 Discussion
FINANCE AND ACCOUNTING
The end result of most accounting is the preparation of accurate financial statements that abide by GAAP. Let’s start with the balance sheet. Visit www.finance.yahoo.com (Links to an external site.) and check out the balance sheet of a company.
Once you have had a chance to take a look at some real-life balance sheets, let’s try to use them in a practical way.
As you can see, the financing decisions (how does the company buy assets) are all summed up in the balance sheet. In short, the balance sheet shows the results of both debt and equity financing (among other things).
Give a short description of considerations with each financing option (debt vs. equity).
Which would you chose and why?
Here’s a video to help cover the basics.
Video: Debt and Equity Financing in Business
BUSN115 Introduction to Business and Technology
Week 8 Discussion
CORPORATE SOCIAL RESPONSIBILITY
Many hardware and home improvement stores give away materials to charity organizations. There have also been real estate developers letting homeless people live in unrented homes during the winter.
Would you consider these actions representative of a CSR plan or advertising? Are there ethical considerations of actions representing CSR and advertising at the same time? Why?
CSR is a new concept for many people. Here’s a video to help illustrate the concept.
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