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RSM100

An Introduction to Business and Management

John M. Oesch Rotman School, University of Toronto

RSM100 An Introduction to Business and Management John M. Oesch Rotman School, University of Toronto

Agenda for today

1. Course overview

2.

Introductions and expectations

3.

Writing component

4.

Exams

5.

Standard operating procedures

6. What Adam Smith said

expectations 3. Writing component 4. Exams 5. Standard operating procedures 6. What Adam Smith said

Overview of RSM100

Introduction to Commerce

Business History

Model-Based Problem Solving

Business and Society

Business Communication

Business Ethics

Strategic HRM (Managers, Leaders, Teams and the organization)

• Business Communication • Business Ethics • Strategic HRM (Managers, Leaders, Teams and the organization)

Overview for term 2

Marketing

Accounting

Strategy and Business Operations

Finance

Business Law

Information Technology

International Business

Strategy and Business Operations • Finance • Business Law • Information Technology • International Business

Introductions and Expectations

1. classroom function

2. textbook

3. instructors

4. TA’s

5. research requirement

6. writing component

7. exam dates: December and April

2. textbook 3. instructors 4. TA’s 5. research requirement 6. writing component 7. exam dates: December

Classroom function

Do your best to be on time; We will start at 2:10 sharp every day (finish at 3:55)

A 5-7min break at approx 1 hour

Please keep electronics on topic

We are all adults here

(finish at 3:55) • A 5-7min break at approx 1 hour • Please keep electronics on

Textbook

Contemporary Business (1 st Canadian Edition) Boone, Kurtz, Khan & Canzer,

ISBN: 9781118498637

– Includes “Wiley plus” online supplement

We will make extensive use of this text

The text will be the anchor document for

the December exam and final exam

We will make extensive use of this text • The text will be the anchor document

Instructors

Professors: John Oesch, Michael Khan

Teaching Assistant(s): Sadaf Sheikh and

team

Instructors Professors: John Oesch, Michael Khan Teaching Assistant(s): Sadaf Sheikh and team

Research Requirement

Research requirement:

2%

Participation in Rotman research helps us

all… how?

Dr. Robert Latimer has details

Research requirement: 2% • Participation in Rotman research helps us all… how? • Dr. Robert Latimer

Writing Component

We listen to our stakeholders!

Two steps:

1. Complete the MyWritingLab sequence 2. Submit a short paper (details to follow)

listen to our stakeholders! Two steps: 1. Complete the MyWritingLab sequence 2. Submit a short paper

Examinations

Practice Midterm: Oct 21

0%

Midterm: December exam period

38%

Final exam:

April exam period

50%

Exams will be multiple choice, short answer

The final exam will NOT be cumulative

Final exam: April exam period 50% Exams will be multiple choice, short answer The final exam

Standard Operating Procedures

1. Use the portal

I will post assignment sheets and

supplemental readings (if required)

Check for announcements

Slides may be posted after class

– TA’s can also post on portal

2. Be prepared for class

This applies to instructor and to students

after class – TA’s can also post on portal 2. Be prepared for class – This

Standard Operating Procedures

3. We will use Top Hat classroom software

3. Office hours both regular (TA) and with appointment (John) to ask RSM100

content questions

Top Hat classroom software 3. Office hours both regular (TA) and with appointment (John) to ask

Who to ask

Before you ask, read the course outline, ask

around, look it up!

If you need to ask

Academic questions about RSM100: TA

Academic questions about Commerce:

Rob Michaud in Commerce Office

Administrative questions: Rotman

Commerce

Specific content questions: TA, instructor(s)

in Commerce Office – Administrative questions: Rotman Commerce – Specific content questions: TA, instructor(s)

Introduction to Commerce

Adam Smith, The Wealth of Nations (1776)

Foundation document for capitalism, free

enterprise, free trade, wealth creation

Capitalism: a legal system that safeguards

private property and permits free trade in

competitive markets; production and consumption are not controlled

safeguards private property and permits free trade in competitive markets; production and consumption are not controlled

Introduction to Commerce

What Adam Smith said:

Free enterprise will maximize productivity because the “invisible hand” of self- interest motivates individuals to work hard

The rich may get richer, but the poor will

also be better off as economies grow

Unrestrained capitalism would result in

concentrations of wealth and power

will also be better off as economies grow • Unrestrained capitalism would result in concentrations of

Introduction to Commerce

What Adam Smith said:

Government must regulate capitalists so

that the rich and powerful cannot affect

political and social policy for their own gain

Eg. Savings and Loan debacle (1980’s)

How does government regulate us?

and social policy for their own gain • Eg . Savings and Loan debacle (1980’s) •

Introduction to Commerce

What Adam Smith said:

The wealth of a nation depends on its ability to trade freely with other nations

Specialization increases productivity

Eg. Canada should not manufacture

televisions

freely with other nations • Specialization increases productivity • Eg . Canada should not manufacture televisions

Introduction to Commerce

What Adam Smith said:

Free enterprise gives us reason to be optimistic; individuals will improve their

own well-being if given the opportunity

Why would anyone want to work a really,

really dirty job?

will improve their own well-being if given the opportunity • Why would anyone want to work

Introduction to Commerce

What Adam Smith did not say:

• “Laissez-faire” capitalism is the best way to maximize productivity and wealth

creation

Eg. Sub-prime mortgage meltdown (2008)

capitalism is the best way to maximize productivity and wealth creation • Eg . Sub-prime mortgage

For next week

• Again…

READ THE COURSE OUTLINE

Start working on Chapters 1-6

these will also apply to our Business in Society, Business Ethics section as well

Check the portal for the preparation sheets

also apply to our Business in Society, Business Ethics section as well • Check the portal

Thank You

Thank You