MNGT200 – Introduction to Business

TOPIC GUIDE FOR QUIZ 1

Chapter 1: Understanding the Canadian Business System
 Profit vs non-profit organizations
 Factors of production – 5 factors
 Types of economic systems- 3 systems
 Six ways government influences business- examples of each
 How businesses influence government Fig 1.2
 Demand and supply Fig 1.3
 Three degrees of competition

Chapter 2: The Environment of Business

 Organizational boundaries defined
 External environment defined
 Dimensions of the external environment Fig 2.1 ( must understand how business organization is
affected by the external environment)
 Economic environment- Business cycle Fig 2.2
 GDP,GNP, Productivity, Balance of trade, debt
 Economic Growth, Economic stability
 Monetary vs fiscal policies
 Technological environment- R&D, product service technologies
 Political legal environment
 Socio- cultural
 Industry environment- Porter’s five forces model – ( overview)
 Outsourcing
 Mergers vs Acquisitions
 Strategic alliances

Chapter 3: Conducting Business Ethically and Responsibly

 Ethics, business ethics
 Managerial ethics
 Three steps in assessing ethical behavior
 Fig 3.1 Model of ethical judgment making
 Corporate social responsibility Fig 3.2
 Major organizational stakeholders Fig 3.3
 Responsibility towards stakeholders
 Whistle blowers
 Fig 3.5 spectrum of approaches to social responsibility, four approaches
 Sustainable development
 Social audit

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 MNGT200 – Introduction to Business
Chapter 6: Managing the Business Enterprise
 The management process (Planning, Organizing, Leading, and Controlling)
 Fig 6.1 Control Process
 Types of Managers
 Management skills
 Purpose of goal setting, kinds of goals
 Fig 6.4 Strategy formulation
 Levels of strategy
 Contingency planning, crisis management
 Management and the Corporate Culture

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 MNGT200 – Introduction to Business

TOPIC GUIDE 2 FOR QUIZ 2

Chapter 12: Understanding Marketing Principles and Developing Products
 Value
 Consumer vs Industrial vs services
 CRM ( customer relationship marketing)
 Fig 12. 1 Marketing defined The external marketing environment
 Marketing manager, marketing plan,
 Four “P”s
 Market segmentation, target markets
 Identifying Market segments
 Research process- overview
 Four influences on consumer behavior
 Three types of business markets- industrial, reseller, government and institutional
 Table 12.2 Categories of consumer products
 Product mix, product line
 Speed to market
 PLC- product life cycle defined
 Fig 12.5 product life cycle
 Branding, packaging
 Brand equity
 Types of brand names

Chapter 10: Operations Management, Productivity, and Quality

 Define operations and the four kinds of utility it provides.
 Distinguish service operations from goods production
 Fig 10.1 transformation process
 Two types of operations processes.
 Fig 10.2 Operations planning and control
 Describe the factors involved in operations planning and operations control.
 Fig 10.9 Gantt chart
 Fig 10.10 Pert chart
 Fig 10.2 operation planning and control
 The connection between productivity and quality.
 Total quality management and the nine tools that companies can use to achieve it.
 Supply chain strategy
 Fig 10.14 Supply chain and baked goods

Chapter 8: Managing Human resources and Labour Relations

 Human resource management – define
 Job analysis, Job description, job specification
 Fig 8.1 steps in the selection process
 Staffing a company, including internal and external recruiting and selection.

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MNGT200 – Introduction to Business
 Developing the capabilities of employees and managers.
 Compensation - wages and salaries, incentives, and benefit programs
 Key legal issues involved in hiring, compensating, and managing workers in today’s workplace.
 Workforce diversity, the management of knowledge workers, and the use of contingent and
temporary workers
 Forming a Union and the steps in the collective bargaining process.
 Conciliation, mediation, arbitration

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 MNGT200 – Introduction to Business

*TOPIC GUIDE 3 FOR FINAL EXAM

Chapter 4: Entrepreneurship, Small Business, and New Venture Creation
 Small business, new venture, entrepreneurship ,private sector, defined
 Role of small/new businesses in the Canadian Economy
 Describe the Entrepreneurial Process
 Startup options
 Franchising – advantages/disadvantages
 Reasons for success or failure in small business
 Legal forms of business ownership: Sole Proprietorship, Partnership, Cooperation, Co-
Operatives, and the advantages and disadvantages for each

Chapter11: Managing Information technology and E-business (Pages 264 – 274 Ebert) IT Supplemental
 IT defined
 Data
 information
 Intranet, extranet, internet
 Benefits of IT
 E-business/Commerce
 Types of Information Systems
 IT Risks and Threats: Hackers, Identity Theft, Intellectual Property Theft
 IT Protection Measures

Finance Section - Madura Textbook – Available from MyBizLab Only

Madura Chapter 1: Overview of a Financial Plan
 Benefits of Understanding of Personal Finance
 Components of a Financial Plan – Exhibit 1.5
o Plan for
o Budgeting and Tax Planning
o Managing Liquidity
o Financing
o Protecting Assets and Income (Insurance)
o Investing
 Retirement and Estate
 Financial Planning Life Stages – Exhibit 1.2
 Developing the Financial Plan, Steps Used Exhibit 1.8
 Opportunity costs

Madura Chapter 3: Planning with Personal Financial Statements2

 Personal Cash Flow Statement
 Creating a Personal Cash Flow Statement – Exhibit 3.1
 Factors That Affect Cash Flows
 Creating a Budget - Exhibit 3.3, 3.7
 Creating a Personal balance sheet – Exhibit 3.8, 3.9
 Exhibit 3.9 How Net Cash Flows can be Used to Increase Net Worth
 Analyzing your current financial situation

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 MNGT200 – Introduction to Business
Madura Chapter 10: Investing Fundamentals
 Types of Investments
 Investment Returns and Risk
 Trade-off between Return and Risk
 How Diversification Reduced Risk
 Strategies for Diversifying
 Asset Allocation Strategies
 Factors that Affect your Asset Allocation Decision

*NOTE:
FINAL EXAM WILL INCLUDE QUESTIONS BASED ON TOPIC GUIDE 1, 2,
WITH GREATER EMPHASIS PLACED ON TOPIC GUIDE 3

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