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Oct 8 2013.docx

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Department
Administration
Course
ADM1300
Professor
Matthew Archibald
Semester
Fall

Description
ADM 1300 B Oct. 8th, 2013 YUJIE YI #7038840 CTV INTERNATIONAL NEWS Oct. 1 , 2013t  Influence of White House Shutdown: 1. Federal workers 2.American organizations 3. Canadian sides work directly with the U.S. (serious collateral damages)  US can handle in 1 or 2 weeks, after that, the damage will increase. Businesses Factors of Production  Capital – the cash  Human Resources – the people  Entrepreneurship – the risk takers to operate a business  Natural Resources – the land, building sites, forests (focus on natural state) Operation in a Private Enterprise System  Also known as “capitalism”  Economic system that reward an organization’s ability to serve the needs and demands of customers  Basic rights - Private Property - Competition - Profits - Freedom of choice Operation in a Private Enterprise System (cont’d) 1 /6 - Ownership – largely privately owned, in large numbers - Management – by owners/ directors with limited government intervention - Right to profits – receive all profits ( minus taxes) - Rights of employees – right to choose own employment (can join unions if available) - Worker incentives – high, creates motivated workforce Today’s Business Workforce - Reliable and diverse workers – dedicated to promoting strong ties - Capable of efficient and high-quality production - Able to compete in global markets - Technically competent and innovative The General Environment  Sociocultural Forces: - Demographics: descriptive elements of people in society (Baby boomers at peak_ after Second World War: about 1945-1960s) - More generations are mixing - Increasing urbanization (population centers) - Education - Societal values  SUV’s to Hybrids (we are putting more importance on environment)  Technological Forces: - Changes in skills and equipment for use to design, produce, and distribute goods and services ADM 1300 B Oct. 8th, 2013 YUJIE YI #7038840 - Technology has intensified the hiring challenge by requiring workers to have ever-more advanced skills - Product technological changes - Process technological changes  Political/ Legal forces:  Outcomes of changes in laws and regulations - Government spending (Federal Budget) - Strengthened environmental laws  What does this do for business?  Lower living standards (government in deficit will influence the economy)  Taxes rise – direct impact (we don’t want to see that)  Global Forces:  Outcomes of changes in inter
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