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
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)
Overview for term 2
Marketing
Accounting
Strategy and Business Operations
Finance
Business Law
Information Technology
International Business
Introductions and Expectations
1. classroom function
2. textbook
3. instructors
4. TAs
5. research requirement
6. writing component
7. exam dates: December and April
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
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
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
Writing Component
We listen to our stakeholders!
Two steps:
1. Complete the MyWritingLab sequence
2. Submit a short paper (details to follow)
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
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
TAs can also post on portal
2. Be prepared for class
This applies to instructor and to students
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
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)
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
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
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 (1980s)
How does government regulate us?
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
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?
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)
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
Thank You