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1 - Lecture Notes- Intro

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Sofy Carayannopoulos

Understanding the Business Environment  An overview of the business environment and how it affects managerial decision making  [email protected]  Office P3026 (Peter’s Building), X 2730, Tuesday 10am – 11:30 am or by appointment, @BU111_WLU Why is it an interesting time to study business?  Established models and rules for doing business are broken  Speed of obsolescence has increase  Disintermediation (the removal of the middle man), don’t need to go to Future Shop, buying online etc  Data, data, data, lots of it, have to sift through it all  Reduced need to physical assets  Vanishing distance and compressed time, produce things faster, distance between competitor is smaller  Demographics (the study of human population) driving change, ex. Baby boomers in Canada, house markets, retirement etc.  Globalization/interconnectedness and its impact o Your competition was people that were close to you before o Now it is everyone because everything is so easily accessible  Triple bottom line o Before it was all about the bottom line, bigger profits o Now is about responsibility to employees and environment o People, Planet, Profit Course Intro and Objectives  Intro/overview of external business environment  Integrative model – theory and practice  Develop interpersonal and management skills  Develop communication and team work skills  Expand business vocab  Learn expectations of professional environment Required Materials  Business 111 Lab Manuel, twenty eighth edition: Captus Press, 2013  Introduction to Understanding and Assessing the Business Environment (2 customer edition): Pearson Publishing, Toronto, 2012 (with access code)  If its not talked about in lecture then it wont be tested, quizzes are online Course Websites  o Course instructions, slides, grads, assignment, guidelines, peer evaluations  o Pearson resources (need access code – cannot register here until after you register
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