当代商业概论总结.docx

1、当代商业概论总结Chapter 11.Define business and profitsBusiness-An organization that provides goods or services to earn profits Profits: The positive difference between a businesss revenues and its expensesrewards for businesspeople who take the risks2. Distinguish between business and not-for-profit organiz

2、ationsBusiness 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.

3、It operates 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 economiesPlanned Economy：An economic

4、system in which the government owns and operates all sources of productionMarket 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 MarketThe economies of most countries include both planned and market elements.5

5、.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 （kmplmentri 互补的）items 4) Number of buyers in the market 5) Consumers optimism about the future.（2）Factors Driving Supplyfac

6、tors 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 suppliers will also influence the supply.6.Describe each of the four different types of market structures in a private enterprise sy

7、stem.Perfect 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)Perfect competition exists when all firms in an industry are small and the number of firms is large. Prices are determined by market forces as supply and demand.In monopolistic co

8、mpetition, 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 industry has only a handful of sellers, an oligopoly exists. The entry of new competitors is hard. And the prices of comp

9、arable 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 products.CharacteristicPerfect competitionMonopolistic competitionOligopolyMonopolyExampleLocal farmerStationery storeSteel in

10、dustryPublic utilityNumber of competitorsManyMany, but fewer than in perfect competitionfewnoneEase of entry into the industryRelatively easyFairly easydifficultRegulated by governmentSimilarity of goods/services offered by competing firmsIdenticalSimilarCan be similar or differentNo directly compet

11、ing goods or servicesLevel of control over price by individual firmsNoneSomeSomeConsiderable7.Identify and describe the four stages of the business cycle. Prosperity, 繁荣； recession 衰退； depression 萧条； recovery 复苏prspert rsen dpren8.Explain how productivity, price-level changes, and employment levels

12、affect the stability of a nations economy.9.Discuss how monetary policy and fiscal policy 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

13、 make loans.Fiscal Policy 财政政策Government influences economy by spending and taxation 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

14、ethics and social responsibility.Business ethics are standards of business conduct and 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

15、 the factors that influence business ethics, at individual, organizational, legal, societal levelsIndividual: values, work background, family status, personalityOrganizational: Top Level Mgmt. Philosophy, the Firms Reward System, Job DimensionsEnvironmental: Competition, economic conditions, social/

16、cultural institutions3. List the stages in the development of ethical standards. Stage 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 expect

17、ations of others in making decisions. Rules are rules are followed because it is a 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

18、 in the workplace.Conflict of interest, honesty and integrity(正直), loyalty VS truth, 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)P

19、ublic Health Issuesb)Protecting the Environment Green washing: Using advertising 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)Responsibi

20、lity Toward Customers Consumer Rights, Unfair Pricing, Ethics in AdvertisingResponsibility Toward EmployeesWorkplace Safety; Quality of Life Issues.Responsibility Toward InvestorsImproper financial management; Check kiting空头; Insider trading ;Misrepresentation of finances7.Explain different stances

21、in CSR Chapter 31.Identify the industries in which most small firms are establishedServices服务业, retailing零售业, construction建筑业, wholesaling批发, finance and insurance金融保险, manufacturing制造业,transportation运输.2. Compare the advantages and disadvantages of small businesses.Small firms can often operate wit

22、h greater flexibility than larger corporations can achieve. This flexibility 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 cor

23、porations can apply. As a result, they must suffer from financial limitations 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（被特许人）. Franchisees

24、benefit from the parent corporations experience and expertise. The franchiser 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 of advert

25、ising as well as increase the likelihood of success. 4.Define the term entrepreneur and distinguish among entrepreneurs, small-business owners, and managers.Entrepreneur: Businessperson who accepts the risks and opportunities involved in creating, operating and growing a new businessSmall Business O

26、wner: Does not have plans for growth.5.Starting and funding a small businessStarting from Scratch skrt 从零开始;从头做起;白手起家Disadvantage: Higher risk of business failureAdvantage: Avoids problems of an existing businessBuying an Existing BusinessSome prefer not to assume the risks of starting a new firmFra

27、nchisingvAnother less risky way to begin a businessa)Cf. equity financing 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 larg

28、e organization. ntrprni: 公司内企业家, 内部创业者Change Agentmanager who tries to 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 v

29、ision, high energy level, need to achieve, self-confidence and optimism, tolerance for failure, creativity, tolerance for ambiguity（含糊）, and international locus of control.1) Are resourceful and open-minded足智多谋，心胸开阔2) Are concerned about good customer relations良好顾客关系3) Desire to be their own boss4)

30、Can deal with uncertainty and risk5) Rely on networks, business plans, and consensus（共识）8.Summarize the three basic forms of business ownership and the advantages and disadvantages of each form.1)Sole Proprietorships (所有权) 个人独资企业Disadvantages:Unlimited Liability(major drawback)Limited resourcesLimit

31、ed fundraising capability(有限的融资能力)Lack of continuity Advantages: Freedom Simple to form Low start up costs Tax benefits Dont have to share the profits2) Partnerships合伙企业In most cases, partners share the profits equally or in proportion to their investment.Silent partner: invest funds but play no role in its managementDisadvantages:Unlimited liabilityDisagreements among partnersLack of continuityOwnership transferSweat equity: invest nothing but provide all the labor Advantages: