MGTA01H3- Final Exam Guide - Comprehensive Notes for the exam ( 22 pages long!)

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UTSC
MGTA01H3
FINAL EXAM
STUDY GUIDE
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MGTA01H3 LECTURE 1 WHAT IS BUSINESS?
Introduction to Business serves as an introduction to business and the role of businesses in the
Canadian economic system. The course begins with an overview of Canadian businesses and
the environments in which managers of businesses must work: the economic environment, the
entrepreneurial environment and the global environment. The successful completion of this
course requires the first edition of Chris Bovaird’s Introduction to Canadian Business and fills
the breadth requirement of Social and Behavioural Sciences.
Chris Bovaird
Room 266 of the Instructional Centre
1265 Military Trail, Toronto, Ontario M1C 1A4
+1 (416) 287-5650
bovaird@utsc.utoronto.ca1
1When e-mailing an instructor, ensure that the course code is in the subject line and that the e-mail is sent from
your uToronto e-mail account. The recipient will not respond to e-mails that are written in shorthand or those that
are not signed with your name and identification number
https://portal.utoronto.ca/webapps/blackboard2
2All documents related to the Introduction to Business will be posted on the website linked above. Online
evaluations and quizzes will be linked to this website and can be easily accessed through there
Your final mark will be cumulated using quizzes and an exam. The quizzes, available online, will
make up for 7.5 percent of your grade, while the midterm exam will weigh 37.5 percent and the
final exam the remaining 55 percent. Online evaluations and comprehensive quizzes will be
Lecture 1 will cover chapter 1 of the Introduction to Canadian Business textbook.
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accessed with the use of your uToronto Portal, and your lowest grade in these quizzes will be
omitted, taking the best nine out of ten.
UNDERSTANDING THE CANADIAN BUSINESS SYSTEM
Business an organized effort to create or provide something that people want and
will pay for in order to make a profit
It is an economic organization that provides goods and services, or both, of value to customers
in exchange for something of value to the business, usually money. With the expectation of
increasing value for the owners of the business, usually in the form of profits.
Expenses the costs, or the money a business spends producing its goods and
services and generally running the business itself
Revenues the sales, or the money a business earns selling its products and services
Profits the oe that reais, if a, after a usiess’ epeses are sutrated
from its revenues
The profit is the fundamental reason for a business to exist and will be called a loss
when the expenses are greater than the sales
Something important to note, a business is an organization that seeks to earn profits by
providing goods or services. That being said, not all organizations are businesses.
Hospitals, universities, and churches are not businesses. They provide services, but are
not intended for business
Economics the study of how businesses and people make choices about what things
to produce or consume, how best to produce and consume those things,
and how best to distribute the wealth
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Document Summary

Lecture 1 will cover chapter 1 of the introduction to canadian business textbook. Introduction to business serves as an introduction to business and the role of businesses in the. The course begins with an overview of canadian businesses and the environments in which managers of businesses must work: the economic environment, the entrepreneurial environment and the global environment. The successful completion of this course requires the first edition of chris bovaird"s introduction to canadian business and fills the breadth requirement of social and behavioural sciences. 1when e-mailing an instructor, ensure that the course code is in the subject line and that the e-mail is sent from your utoronto e-mail account. The recipient will not respond to e-mails that are written in shorthand or those that are not signed with your name and identification number https://portal. utoronto. ca/webapps/blackboard2. 2all documents related to the introduction to business will be posted on the website linked above.

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