Download - Intro Chap1
NICKELS • MCHUGH • MCHUGH© The McGraw-Hill Companies, Inc., 2002 All Rights Reserved.
SIFE
HARTNELL/ SIFE
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SCAN’S COMPETENCIES
DEPARTMENT OF LABOR Secretaries Commission onAcquiring Necessary Skills
RESOURCES
• Identifies, organizes, plans and allocates resources– Time– Money– Material and Facilities– Human Resources
INTERPERSONAL
• WORKS WITH OTHERS– Contributes to group effort– Teaches others– Serves Clients/Customers– Exercises Leadership– Negotiates– Works with diversity
INFORMATION
• Aquires and Uses Information– Aquires and Evaluates Information– Organizes and Maintains Information– Interprets and Communicates Information– Uses Computers to Process Information
SYSTEMS
• Understands Complex Inter-relationships– Understands Systems
• social• organizational• technical
– Monitors and Corrects Performance– Improves or Designs Systems
TECHNOLOGY
• Selects Technology– Chooses Procedures, tools or equipment
• Applies Technology to Task• Maintains and Troubleshoots Equipment
– Prevents, Identifies, or solves problems with equipment
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Projected Required AverageSkill by 2000
Level 1 Level 2 Level 3 Level 4 Level 5 Level 6
58 %
40 %
2%
Projectedaverage skilllevel: 3.6
SOURCE: Hudson Institute as reported in Arnold Packer, ”Retooling the American Worker,”The Washington Post
1-3
7
Current Skill Level
6.8 %
70.5 %
16.1 %
6.6 %
Average currentskill level: 2.6
Level 1 Level 2 Level 3 Level 4 Level 5 Level 6
1-4
SIFE’S SLOGAN• TEACH ME AND I WILL
FORGET• SHOW ME AND I MIGHT
REMEMBER• INVOLVE ME AND I WILL
UNDERSTAND.
SIFE’S LEARANINGPHILOSOPHY
To provide college students the best opportunity to make a difference and develop leadership, teamwork. and communication skills through learning, practicing the principles of FREE ENTERPRISE
SIFE
Business Defined
The production and distribution
of goods and services
to satisfy the needs and wants of the
consumer
hopefully, at a profit
Chapter Chapter OneOne
Meeting the Challenge Meeting the Challenge of Today’s Dynamic of Today’s Dynamic
BusinessBusiness EnvironmentEnvironment
What Is Business?• Activity seeking profit• Provides goods/services• Satisfy standard of living-
quality of life• Nonprofit organizations
Objectives of Business
SurvivalSurvival
GrowthGrowthSocial Social
ResponsibilityResponsibilityProfitProfit
Business Environment (Figure 1.2)
Entrepreneurship vs.
Employment• Opportunities For Entrepreneurs• Matching Risk With Profit
– Revenue - Expense = Profit(Loss)– Risk
Factors of ProductionLandLand
LaborLabor
CapitalCapital
EntrepreneurshipEntrepreneurship
KnowledgeKnowledge
Government Affects Business By Being:
A Customer
An Overseer and Regulator
A Tax Collector
Environments of Business• Economic• Technological• Social• Competitive• Global
Economic Environment
$ Freedom of ownership$ Contract laws$ Elimination of corruption$ Tradable currency$ Minimum taxes & regulation
Technological Environment• Internet• E-commerce• Role of Intermediaries ?• Responsiveness to
Customer• Information Management
A Business and Its Stakeholders(Figure 1.4 )
Average Skill LevelRequired
Level 1Level 1 Level 2Level 2 Level 3Level 3 Level 4Level 4 Level 5Level 5 Level 6Level 6
Source: Source: Hudson Institute as reported in Arnold Packer, “Retooling the American Worker,” Washington Post Hudson Institute as reported in Arnold Packer, “Retooling the American Worker,” Washington Post
Average Skill Average Skill Level: 3.6Level: 3.6
2%2%
58%58%
40%40%
Current Skill Level
Level 1Level 1 Level 2Level 2 Level 3Level 3 Level 4Level 4 Level 5Level 5 Level 6Level 6
Average Skill Average Skill Level: 2.6Level: 2.6
6.8%6.8%
70.5%70.5%
6.6%6.6%
16.1%
The 21st Century Workforce
Outsourced Suppliers
25%
Permanent Employees
35%
Contract Workers
15%
Contingent Workers
25%
Source: Workforce Magazine, Jan. 1998
Changing Intermediaries
Internet Impact• Communications• Access• No Borders
E-commerce Explosion• Transaction costs
• Size of purchase per transaction
• Integration
• Flexibility
• Catalog size
• Customer Interaction
Competitive Environment• Customer Service
– Customer Demands– Speed
• Community/Stakeholder Needs
• Natural/Ecological Concern
Social Environment• Diversity/Multicultural• Aging/Graying of America• Two Income Families• Single Parent Families
U.S. Population Shifts72%
12%12%
4% 1%
62%
18%13%
6%1%
0%
10%
20%
30%
40%
50%
60%
70%
80%
1999 2025
WhiteHispanicAfro-Amer.AsianAmer. Indian
Source: Census Bureau
Global Environment• Quality
• Productivity
• Changes
Dealing With A Multicultural Workforce
Show Respect for Culture/Value of Others
Avoid Stereotyping Include All Workers in Acculturalization Be Empathetic But Be Yourself Avoid Imposing Your Culture/Values on
Others
World Population Milestones
0123456789
Billions of People
1804 1927 1960 1974 1987 1999 2013 2028 2054
Source:USA Today
Evolution of American Business
• Agricultural/Manufacturing
• Service Industries
• Future???
Key Terms
• Business 4 • Downsizing 5• Entrepreneur 4• Factors of production 9• Goods 24• Loss 7• Non profit organization 5• Profit 4• Quality 19• Quality of life 4
• Revenue 7• Risk 7• Services 25• Standard of living 4