商槪商学精要期末重点整理版.docx

1、商槪商学精要期末重点整理版Chapter 11. Define business and profitsBusiness- An organization that provides goods and services to earn profits Profits: The positive difference between revenues and expenses rewards for businesspeople who take the risks2. Distinguish between business and not-for-profit organizations

2、Business consists of all profit-seeking activities and enterprises that provide goods and services necessary to an economic system. entpraz 事业，项目 Not-for-profit organizations are business like establishments (机构;团体;企业) that have primary objectives other than returning profits to their owners. It ope

3、rates in both public service and private sector (部门，行业，领域).3. Identify the factors of production. Labor, capital, entrepreneurs (ntrprn:(r) 企业家), physical resources, information resources. 4. Global economic systemsPlanned economy, market economy and mixed economies Planned Economy: An economic syst

4、em in which the government owns and operates all sources of production Market Economy: An economic system in which buyers and sellers interact (ntrkt 相互作用； 互相影响) based on freedom of choice Mixed Economies: Planned and Market The economies of most countries include both planned and market elements.5.

5、 Distinguish between microeconomics and macroeconomics. Microeconomics微观经济学study of small economic units, such as individual consumers, families, and businesses. For example, demand &supply, consumer choices.Macroeconomics宏观经济学study of a nations overall economic issues, such as how an economy mainta

6、ins and allocates resources and how government policies affect the standards of living of its citizens. For example, GDP.6. Explain the factors that drive demand and supply.(1)Factors Driving Demand 1) Price 2)Customer preferences and income 3) Prices of substitute (sbsttju:t 替代的) and complementary

7、（kmplmentri 互补的）items 4) Number of buyers in the market 5) Consumers optimism about the future.（2）Factors Driving Supply factors of production (Central role in determining the overall supply of goods and services is played by factors of production.) Other factors like taxes and the number of supplie

8、rs will also influence the supply.7. Describe each of the four different types of market structures in a private enterprise system.Pure competition，monopolistic mnplistik competition(垄断性竞争)，oligopoly( lgpl 寡头, 求过于供的市场情况) and monopoly ( mnpl 垄断)Pure competition exists when all firms in an industry ar

9、e small and the number of firms is large. Prices are determined by market forces as supply and demand.In monopolistic competition, many sellers try to make their products at lease seem to be different from those of competitors. Product differentiation gives sellers some control over prices.When an i

10、ndustry has only a handful of sellers, an oligopoly exists. The entry of new competitors is hard. And the prices of comparable products are usually similar.A monopoly exists when an industry or market has only one producer. A sole supplier enjoys nearly complete control over the prices of its produc

11、ts. 8. Identify and describe the four stages of the business cycle. Prosperity, 繁荣； recession 衰退； depression 萧条； recovery 复苏prspert rsen dpren9. Explain how productivity, price-level changes, and employment levels affect the stability of a nations economy.10. Discuss how monetary policy and fiscal p

12、olicy are used to manage an economys performance. Monetary Policy 货币政策government actions to increase or decrease the money supply and change banking requirements and interest rates to influence bankers willingness to make loans.Fiscal Policy 财政政策Government influences economy by spending and taxation

13、 decisions. Government uses fiscal policy to control inflations (nflen 通货膨胀), reduce unemployment, improve the general welfare of citizens, and encourage economic growth. Chapter 21. Explain the concepts of business ethics and social responsibility.Business ethics are standards of business conduct a

14、nd moral values by employees on the jobSocial responsibility refers to the overall way in which a business attempts to balance its commitments to relevant groups and individuals in its social environments. 2. Describe the factors that influence business ethics, at individual, organizational, legal,

15、societal levelsIndividual: values, work background, family status, personalityOrganizational: Top Level Mgmt. Philosophy, the Firms Reward System, Job DimensionsEnvironmental: Competition, economic conditions, social/cultural institutions3. List the stages in the development of ethical standards. St

16、age 1: Preconventional Individual is mainly looking out for his or her interest. Rules are followed only out of fear of punishment or hope of reward. Stage 2: Conventional Individual considers the interests and expectations of others in making decisions. Rules are rules are followed because it is a

17、part of belong to the groups.Stage 3: postconventional Individual follows personal principles for resolving ethical dilemmas. He or she considers personal, group and social interests.4. Identify common ethical dilemmas in the workplace.Conflict of interest, honesty and integrity(正直), loyalty VS trut

18、h, whistle-blowing(揭发).5. Discuss how organizations shape ethical behavior.6. Summarize the responsibilities of business to the general public, customers, employees and investors.Responsibilities to the General Publica) Public Health Issuesb) Protecting the Environment Green washing: Using advertisi

19、ng to project a green image without substantially altering processes or products Recyclingreprocessing of used materials for reuse c) Developing the Quality of the Workforce d) Corporate Philanthropy (flnrp 慈善事业)Responsibility Toward Customers Consumer Rights, Unfair Pricing, Ethics in AdvertisingRe

20、sponsibility Toward EmployeesWorkplace Safety; Quality of Life Issues.Responsibility Toward InvestorsImproper financial management; Check kiting空头; Insider trading ;Misrepresentation of finances7. Explain different stances in CSR Chapter 31. Identify the industries in which most small firms are esta

21、blishedServices, retailing(ri:tel 零售业), construction建筑业, wholesaling批发, finance and insurance, manufacturing制造业,transportation.2. Compare the advantages and disadvantages of small businesses.Small firms can often operate with greater flexibility than larger corporations can achieve. This flexibility

22、 allows small business to develop innovative products, lower costs, provide superior customer service, and fill isolated niches. asletd 偏远的 ntiz 商机 However, small business also must operate with fewer resources than large corporations can apply. As a result, they must suffer from financial limitatio

23、ns and management shortcomings. Taxes and government regulation can also impose excessive burdens on small business.3. Explain how franchising can provide opportunities for both franchisors and franchisees.（找不到） Franchisees benefit from the parent corporations experience and expertise. The franchise

24、r may pick the store location, negotiate the lease, purchase equipment, and support financing. Franchising offers the benefit of brand recognition, which can make it easier to attract customers and reduce the costs pf advertising as well as increase the likelihood of success. 4. Define the term entr

25、epreneur and distinguish among entrepreneurs, small-business owners, and managers.（找不齐）Entrepreneur: Businessperson who accepts the risks and opportunities of creating, operating and growing a new businessSmall Business Owner: Does not have plans for growth.5. Starting and funding a small business S

26、tarting from Scratch skrt 从零开始;从头做起;白手起家 Disadvantage: Higher risk of business failure Advantage: Avoids problems of an existing business Buying an Existing Business Some prefer not to assume the risks of starting a new firmFranchisingv Another less risky way to begin a businessa) Cf. equity financi

27、ng and debt financing6. Identify three different types of entrepreneurs. 企业家 Classic entrepreneursperson who sees a business opportunity and use resources to tap that market. Intrapreneurperson who develops innovations within a large organization. ntrprni: 内企业家, 内部创业者 Change Agentmanager who tries t

28、o revitalize an established firm to keep it competitive. ri:vatlaz vt. 使恢复元气； 使新生； 使复兴7. Identify personality traits that typically characterize successful entrepreneurs. Successful entrepreneurs may have several traits, including vision, high energy level, need to achieve, self-confidence and optim

29、ism, tolerance for failure, creativity, tolerance for ambiguity, and international locus of control. 1) Are resourceful and open-minded2) Are concerned about good customer relations3) Desire to be their own boss4) Can deal with uncertainty and risk5) Rely on networks, business plans, and consensus8.

30、 Summarize the three basic forms of business ownership and the advantages and disadvantages of each form.1)Sole Proprietorships ( prpratp 所有权) 个人独资企业Disadvantages: Unlimited Liability Limited resources Limited fundraising capability Lack of continuity Advantages: Freedom Simple to form Low start up

31、costs Tax benefits2) Partnerships合伙企业Disadvantages: Unlimited liability Disagreements among partners Lack of continuitykntnju:t 连续性;连贯性 Advantages: More talent and money More fundraising capability fndrez 筹款的 Relatively easy to form Tax benefitsDisadvantages: Double taxation Fluid control flu:d不稳定的 Complicated and expensive to form3) Corporations Advantages: Limited Liability Continuity连贯性 Stronger fundraising capability9. Describe recent trends in mergers合并and acquisiti