Internet: A worldwide network of interconnected computers that links
anyone with a computer you can send and receive data, images anywhere
World wide web: the resources on the net that offers easy access to
ECONOMICS: It is a social science that analyzes the choices made by
individuals and governments in the allocation of scarce resources.
Microeconomics is the study of smaller units such as the individual,
the family and busine
TEAMWORK AND COMMUNICATION
Empowerment: giving employees authority and responsibility to make
decisions about their work without traditional managerial control.
TQM: Total Quality Management is a program for improving the quality of
goods and s
BLAENDING PEOPLE, TECHNOLOGY
AND ETHICAL BEHAVIOR
What is a business: a profit seeking activity that people undertake by
purchasing or selling goods and services to satisfy societies needs and wants.
A profit is a reward that goes to a business
COMPETING IN GLOBAL MARKETS
This is when products cross national borders.
There are EXPORTS, domestically produced goods and services sold in
IMPORTS, Foreign goods and services purchased by domestic consumers
(consumers not in t
SMALL BUSSINESS: A firm that is independently owned and operated. It
is not dominant in its field and meets industry standards for the definition
employees and income.
Most in US are small businesses
ETHICAL BEHAVIOR AND
Business ethics: Standards of business behavior or conduct and moral
values. How do business decisions affect the work and employees. These
are internal issues.
Social responsibility relates to how busi
Human resource management is the process of attracting, developing and
retaining sufficient numbers of qualified employees to perform the activities
necessary to accomplish organizational goals.
You have to plan for hum
MANAGEMENT AND LEADERSHIP
Management: The process of achieving organizational objectives through
people and other resources
Top management: CEO CFO Mayor, governor etc goals
Middle management: Regional manager, division head, dean etc Th
Risk is uncertainty about loss or injury
Self insurance fund is a fund that is created by setting aside cash reserves
periodically that can be drawn upon in the event of a loss
How do you manage risk: Avoid it or reduce it or yo