Introduction to Business

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Introduction to Business by Mind Map: Introduction to Business

1. Part I: Business in a Changing World

1.1. Ch. 1: Dynamics of Business & Economics

1.1.1. LO 1: The Nature of Business

1.1.2. LO 2: The People & Activities

1.1.3. LO 3: The Economic Foundations of Business

1.1.4. LO 4: The Forces of Demand & Supply

1.1.5. LO 5: Measuring the Economy

1.1.6. LO 6: The American Economy

1.2. Ch. 2: Business Ethics & Social Responsibility

1.2.1. LO 1:

1.2.2. LO 2:

1.2.3. LO 3:

1.2.4. Lo 4:

1.2.5. LO 5:

1.3. Ch. 3: Business in a Borderless World

1.3.1. LO 1: Role of International Business

1.3.2. LO 2: International Trade Barriers

1.3.3. Lo 3: Trade Agreements, Alliances, Organizations

1.3.4. LO 4: Getting Involved in International Businss

1.3.5. LO 5: International Business Strategies

2. Part II: Starting & Growing a Business

2.1. Ch. 4: Options for Organizing Business

2.1.1. LO 1: Sole Proprietorship

2.1.2. LO 2: Partnerships

2.1.3. LO 3: Corporations

2.1.4. LO 4: Mergers & Acquisitions

3. Part III: Managing for Quality & Competitiveness

3.1. Ch. 5: Small Business, Entrepreneurship & Franchising

3.1.1. LO 1: The Nature of Entrepreneurship & Small Business

3.1.2. LO 2: Importance of Small Business

3.1.3. LO 3: Advantages of Small-Business Ownership

3.1.4. LO 4: Disadvantages of Small-Business Ownership

3.1.5. LO 5: Starting a Small Business

3.1.6. LO 6: Future of Small Business

3.1.7. LO 7: Making Big Business Act "Small"

3.2. Ch. 6: The Nature of Management

3.2.1. LO 1: Importance of Management video chart chart

3.2.2. LO 2: Management Functions

3.2.3. LO 3: Types of Management Levels of management Top Middle First-line Areas of managment Financial Production & operations Human resources Marketing Administrative IT

3.2.4. LO 4: Skills Needed by Managers Analytical Human relations Conceptual Technical

3.2.5. LO 5: Decision Making Recognize & define situation Develop options Analyze options Select best option Implement the decision Monitor consequences

3.3. Ch. 7: Organization, teamwork & communication

3.3.1. LO 1: Organizational Culture

3.3.2. LO 2: Developing Organizational Structure Organizational charts

3.3.3. LO 3: Assigning Tasks Departmentalization Functional Product Geographic Customer

3.3.4. LO 4: Assigning Responsibility Delegation of Authority Responsibility Accountability Degree of Centralization Span of Management Organizational Layers

3.3.5. LO 5: Forms of Organizational Structure Line Line & Staff Multidivisional Matrix

3.3.6. LO 6: The Role of Groups & Teams in Organizations Committees Task Forces Teams Project teams Quality-Assurance

3.3.7. LO 7: Communications in Organizations Formal & informal communication Grapevine Monitoring consequences Improving communication effectiveness

3.4. Ch. 8: Managing service & Manufacturing Operations

3.4.1. LO 1: Nature of Operations Management

3.4.2. LO 2: Operations Management in Service Business

3.4.3. LO 3: Planning & Designing Operations Systems

3.4.4. LO 4: Managing the Supply Chain

3.4.5. LO 5: Managing Quality

4. Part IV: Creating the Human Resource Advantage

4.1. Ch. 9: Motivating the Workforce

4.1.1. LO 1: Nature of human relations Motivation inner drive that directs a person's behavior towards goals Morale an employee's attitude toward his/her job, employer, & collegues Intrinsic rewards personal satisfaction & enjoyment from attaining a goal Extrinsic rewards benefits &/or recognition received from someone else.

4.1.2. LO 2: History of Employee Motivation Classical Theory suggests that money is the sole motivator for workers Hawthorne Studies researched impact of physical work conditions affect productivity found that productivity increased regardless of the physical conditions employees were responding to the attention they were receiving - not changing work conditions

4.1.3. LO 3: Theories of employee motivation Maslow's Heirarchy theory that arranges the 5 basic needs of people into the order in which people strive to satisfy them Herzberg's Two-Factor Hygiene factors Motivational factors

4.1.4. LO 4: Theories of Motivation McGregor's Theory X & Y Theory X Theory Y Theory Z philosophy which stresses  employee participation in decision making Equity Theory assumption that employee efforts & contributions depend on the equity of the rewards received in exchange Expectancy motivation depends on 2 things: Goal Setting impact that setting goals has on performance

4.1.5. LO 5: Strategies for Motivating Employees Behavior modification changing behavior & encouraging appropriate actions by relating the consequences of the behavior to the behavior iteself Job design job rotation Job enlargement job enrichment flexible scheduling Importance of motivational strategies key to increasing satisfaction & productivity

4.2. Ch. 10: Managing Human Resources

4.2.1. LO 1: Nature of Human Resources Management & Planning for Human Resource Needs Human Resource Management (HRM) all activities involved in determining human resource needs, as well as acquiring, training, & compensating people to fill those needs. Job analysis Job description

4.2.2. LO 2: Recruiting & Selecting New Employees Recruiting forming a pool of qualified applicants from which management can select employees Selection process of collecting information @ applicants & using that info to making hiring decisions The Application The Interview Testing Reference checking Legal issues Title VII of the Civil Right Act

4.2.3. LO 3: Developing the Workforce Orientation familiarizing newly hired employees with: Training & Development training mentoring development Assessing Performance

4.2.4. LO 4: Turnover occurs when employees quit/fired & have to be replaced Promotion advancement to a higher-level job Transfer lateral move to another job within the compay Separations resignations retirement termination layoff

4.2.5. LO 5: Compensating the Workforce Financial Compensation wages commission salary bonuses profit sharing Benefits nonfinancial forms of compensation cafeteria benefit plans

4.2.6. LO 6: Managing Unionized Employees Collective Bargaining negotiations between management & unions Resolving disputes

4.2.7. LO 7: Importance of Workforce Diversity workforce in which there are variety of 1) demographic characteristics 2) abilities in the workforce Characteristics primary secondary Why important? population is becoming more diverse Benefits of workforce diversity minimized conflict, prejudice, & discrimination Affirmative action legally mandated plans that try to increase job opportunities of minority  groups

4.3. Ch. 11: Customer Driven Marketing

4.3.1. LO 1

4.3.2. LO 2:

4.3.3. LO 3:

4.3.4. LO 4:

4.3.5. LO 5:

4.3.6. LO 6:

5. Part V: Marketing: Developing Relationships

6. Part VI: Financing the Enterprise