Chapter 5(3) Global Markets
Less than 74% of the worlds population lives in developing areas where technology, education, and per
capita income still lag considerably behind those of developed (or industrialized) nations such as Canada
Exporting is selli
Commerce: Understanding Canadian Business
Chapter 1: Managing Within the Dynamic Business
Business and Entrepreneurship: Revenues, Profits, Losses
- Business: any activity that seeks to provide goods and serv
Chapter 1 Managing Within the Dynamic Business Environment
A business is any activity that seeks to provide goods and services to others while operating at a profit
Profit is the amount of money a business earns above and beyond what it spends for salari
EO L3 09.17.14
Chapter 2 Learning Objectives
Describe basic economics.
Explain what capitalism is and how free markets work.
Define socialism and its benefits and negative consequences.
Evaluate communism and the challenges of such a sys
EO L6 09.29.14
Chapter 3 Summary
The Global Competitiveness Touches Us All
The economic welfare of our nation is significantly affected by the degree to
which those in other nations buy our products and services, invest in our
country and lend us funds,
Chapter 3 Learning Objectives
1. Discuss the growing importance of the global market and the roles of comparative
advantage and absolute advantage in global trade.
2. Explain the importance of importing and exporting, and understand key terms
used in glob
E0 Chapter 10 11.26.14
Operation Management: Background
Canada is facing some serious challenges to its ability to remain a modern,
competitive industrial country.
Todays business climate is characterized by constant and restless change
E0 Chapter 14 10.27.14
Chapter 14 Learning Objectives
1. Define marketing and explain how the marketing concept applies to both forprofit and non-profit organizations.
2. List and describe the four Ps of marketing.
3. Describe the marketing research proce
Technological Environment and Appendix A
The Technological Environment
The technological environment refers to inventions or innovations from
applied science or engineering research, including processes.
o Technology has released such wonders as antibiot
E0 Chapter 18 11.17.14
Describe the importance of the financial services industry in Canada.
Explain what money is, what makes it useful and how it is controlled.
Discuss the role that banks play in providing services.
Describe the role of
The Social Environment
Social change is perhaps the most difficult external variable for marketers to
forecast, influence, or integrate into marketing plans
This environment considers how buying behaviour is impacted by the
demographic characteristics o
Chapter 18: The Financial Services Industry in Canada
Financial Consumer Agency of Canada (FCAC)
- The financial services industry is supported by the Financial Consumer Agency of Canada; an
independent body working to protect and inform consumers of fina
Goods: tangible products such as computers, food, clothing, cars and
Services: intangible products (products that cant be held in your hand) such
as education, health care, insurance, recreation, and travel and tourism
1. Describe the relationship of businesses profit to risk assumption.
2. Illustrate the importance of stakeholders and non-profit organizations to
3. Explain how entrepreneurship is critical to the wea
E0 Chapter 17 11.12.14
1. Explain the role and responsibilities of financial managers.
2. Outline the financial planning process, and explain the three key budgets in
the financial plan.
3. Explain why firms need funds.
4. Identify and
E0 Chapter 6 10.20.14 Forms of Business Ownership
I. Sole Proprietorship
oldest form of an organization
pros and cons
a general partner assumes full or shared responsibility for operating the
business and i
EO Chapter 12 10.07.14 HR Management
LO 1: What is Human Resource Management
Human resources management (HRM) is the process of determining
human resource needs and then
o compensating and
E0 Chapter 13 10.08.14
Trade Unions in Canada
Organized labour began in the early 1800s on the wharves of Halifax, St.
Johns, and Quebec to profit from labour scarcity
Unions were illegal until 1872 and it was a long and bloody road as some
E0 Chapter 15 11.03.14
Product Development and the Total Product Offer
intense competition forces companies to constantly develop new products
the total product offer / value package is everything that the consumer
evaluates when deciding to buy
The Legal Environment
The legal environment is an external dimension that influences business.
Therefore, managers must be aware of the legal systems and their impact on
business and business decisions.
Laws are derived from four sources: the Constitution
The Business Environment
It consists of the uncontrollable factors that either help or hinder the development
Businesses that create wealth and jobs grow and prosper in a healthy
Thus, creating the right business environment is
Commerce (1E03) Unit 1 Test Review (Chap 1-5)
Chapter 1 (Textbook)
Cultivating a Business in Diverse Global Environments
Success in business comes from finding a need and filling it.
Goods: Tangible (physical) products such as computers, food, clot
Study Approach: Each chapter to 3 times:
1. Before class
2. When creating study notes
3. The week of the exam for a final review
Commerce L4 09.22.14
Chapter 4 Learning Objectives
1. Understand the six categories of government activities that can affect b
EO L5 09.24.14
Next week: Informal Course Review due on A2L front the class
By the end of next week we will have covered everything on the mid-term*
Next tutorial Ethics pres. With group in addition to team contract pg.4 course
Review company over
COMM 1E03 MIDTERM ONE (FALL 2014)
The first midterm, held on Friday, October 17 from 6:00 to 7:00 p.m., is one hour in length. It will
include fifty questions of which there are approximately ten questions per chapter. Each question will
have four options
Page 1 of 2
Instructions: Go to http:/www.statcan.gc.ca/start-debut-eng.html. Near the top left-hand corner,
under "Latest indicators" retrieve the required data. Answer the questions and bring the answers to
I. Monthly GDP Growth (June 2014): http
8. Leadership, Organization, and
Production to Satisfy Customers
Managers Roles Are Evolving
Resources: A general term which incorporates human resources, natural resources, and financial
o These resources are scarce, it is important that manag
Resources: general term that incorporates human, natural and
o Raw materials
Managers emphasize team work and cooperation rather than
discipline and giving orders
Entrepreneurship and Starting a Small
The Age of the Entrepreneur
2.7 million people in Canada who are self-employed represent 15% of workers in the economy
o More young people are venturing and starting their own businesses
(also known as social forces / sociocultural forces)
Social change is perhaps the most difficult external variable
for marketers to forecast, influence, or integrate into
This environment considers how buying behaviour
COMM 1E03 Winter 2014
GROUP WORK FORMATTING
A. Title Page (Sample Posted on Avenue)
All work must be typed and include a Title Page that communicates:
the course code (COMMERCE 1E03)
your Instructors name (e.g., Professor Rita Cossa)
Chapter 11 Employee Management Issues and Relations
Need for Trade Unions
-Union: main goal of representing members in employee-management bargaining issues
-Trade unions responsible for minimum wage, overtime, wor
COMM 1E03 CORRECTIONS EXERCISE (W2013)
This assignment will take approximately two hours to complete. Bring this exercise - which should
include your corrections - and the Citation Guide (August 2012) to your tutorial.
Apply the formatting re
Chapter 3 The Role of Government in Business
Government Affects Business
-Crown corporations, laws and regulations, taxation and financial policies, government
expenditures, purchasing policies, and services
Laws and Regul
Chapter 15 Financial Services Industry in Canada
Financial Services Industry in Canada
-Four pillar system banks, trust companies, insurance companies and securities dealers
-Regulation fostered competition within each pillar but not among t