Course Title: Principles of Business, Marketing, and Finance
Session Title: Lesson One -Business in a Global Society
Performance Objective:
•
Upon completion of this lesson, the student will distinguish between domestic business and international business.
Specific Objectives:
•
Students will discuss the reasons why international business is important.
•
Students explain the components of the international business environment.
•
Students will describe the basic international business activities.
•
Students will describe the importance of international business for workers, consumers, and citizens.
Preparation
TEKS Correlations:
This lesson, as published, correlates to the following TEKS. Any changes/alterations to the activities may result in the elimination of any or all of the TEKS listed.
•
130.112(c)(1)(A) explain the role of business in a global society
•
130.112(c)(1)(B) differentiate between goods and services
•
130.112(c)(1)(C) identify types of businesses
Interdisciplinary Correlations:
English
110.42(b)(6)(A) – Vocabulary Development
…expand vocabulary through wide reading, listening, and discussing
110.42(b)(6)(B) – Vocabulary Development
… rely on context to determine meanings of words and phrases such as figurative
language, idioms, multiple meaning words, and technical vocabulary
110.42(b)(7)(F) – Reading/comprehension
…identify main ideas and their supporting details
110.42(b)(7)(G) – Reading/comprehension
…summarize texts
110.42(b)(7)(J) – Reading/comprehension
…read silently with comprehension for a sustained period of time
Interdisciplinary Correlations:
Mathematical Models with Applications
111.36(c)(1)(A) – Knowledge and Skills
…compare and analyze various methods for solving a real-life problem.
111.36(c)(1)(B) – Knowledge and Skills
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…use multiple approaches (algebraic, graphical, and geometric methods) to solve problems from a variety of disciplines
111.36(c)(1)(C) – Knowledge and Skills
…select a method to solve a problem, defend the method, and justify the reasonableness of the results
111.36(c)(6)(A) – Knowledge and Skills
…analyze methods of payment available in retail purchases and compare relative advantages and disadvantages of each option.
111.36(c)(7)(A) – Knowledge and Skills
…analyze types of savings options involving simple and compound interest and compare relative advantages of these options.
Accommodations for Learning Differences:
It is important that lessons accommodate the needs of every learner. These lessons may be modified to accommodate your students with learning differences by referring to the files found on the Special Populations page of this website.
References:
1. Introduction to Business, Fifth Edition, Brown Clow, Glencoe McGraw-Hill
2. Intro to Business, Dlabay Burrow Klendl, South-Western Cengage Learning
3. International Business, Dlabay & Scott, South-Western Cengage Learning
4. Online Resources: globaledge.msu.edu, worldnetdaily.com/news/article
Instructional Aids:
1. “Business in a Global Society” PowerPoint Presentation
2. Global Shopping Assignment #1
3. Global Shopping Assignment #1 Rubric
4. International Business Report Assignment #2
5. International Business Report Assignment #2 Rubric
6. Politics and Trade Assignment #3
7. Politics and Trade Assignment #3 Rubric
8. Internet
Materials Needed:
1. Construction paper
2. Scissors and glue
3. Poster board
4. Newspapers
Equipment Needed:
1. Computers for students to complete projects
2. Projector for PPT
Learner Preparation:
1. Ask students to make a list of ten items that they own and categorize each item as a domestic or imported item. Then give students old magazines, ask them to cut out pictures of goods, design a collage of the goods, and categorize each
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good as domestic or imported.
2. Ask students to write down five examples of goods and five examples of services. Students should be prepared to share their list of items during class discussion.
Lesson Plan
Introduction (LSI Quadrant I):
1. Ask students to develop a list of domestic and imported automobiles. Then ask students to list the pros and cons of owning each brand of automobile. Finally students will make suggestions to domestic automobile manufacturers to become more competitive with popular imported brands.
2. Divide the class into small groups of two or three students. Each group has 10 minutes to answer the following questions: Why does the U.S. import and export some goods and services? How do changes in the value of the Mexican peso or
Japanese yen affect your life? Which policy is the best—free trade or protectionism?
3. Ask students to explain the impact of imports on the United states economy.
Important Terms for this Lesson:
•
Imports – goods and service one country buys from another country
•
Exports – goods and services one country sells to another country
•
Balance of trade – the difference in value between how much a country imports and how much it exports
•
Multinational corporation-a company that does business and has facilities in many countries around the world
•
Exchange rate-the price at which the currency of one country can buy the currency of another country
•
Balance of trade-the difference in value between how much a country imports and how much it exports
•
Protectionism-limiting trade with other countries to protect business at home
•
Tariff-a tax placed on imported products to make them more expensive than domestic products
•
Quota-a limit placed on the quantities of a product that can be imported
•
Embargo-a ban on the import or export of a product
•
Free trade-few or no limits on trade between countries
Outline
Outline (LSI Quadrant II):
Instructors can use the PowerPoint presentation, slides, handouts, current events, the
Internet, and note pages in conjunction with the following outline.
MI Outline Notes to Instructor
I. International Business
A. All business activities needed to create, ship, and sell goods and services across
Ask students what activities are necessary to
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. national borders
B. Other Names for International Business
1. Global business
2. International trade
3. Foreign trade
C. Importance of International Business
1. Global opportunities
2. Consumers demand imports
3. Businesses need to export
4. Materials and parts needed for manufacturing
II. Domestic Business
A. Business Within the Country’s Own Borders
B. Making, Buying, and Selling Goods and
Services Within the Country
III. Types of Businesses
A. Produce raw goods
B. Process raw goods
C. Manufacture goods from raw or processed goods
D. Distribute goods
E. Provide services
IV. The Fundamentals of International Trade
A. Imports-goods and services one country buys from another country
B. Exports-goods and services one country sells to another country
C. Trade Barriers
1. Protectionism-limiting trade with other countries to protect business at home
2. Tariff-a tax placed on imported products to make them more expensive than domestic products
3. Quota-a limit placed on the quantities of a product that can be imported
4. Embargo-a ban on the import or export of a product
V. International Business Environment
A. Geography
1. Climate
2. Terrain, seaways
3. Natural resources
4. Agricultural products produce and sell an imported automobile in the United States.
Ask students to describe a part of the world where a global business opportunity exists. Describe the opportunity.
Ask the class to give one example of each type of business.
Ask students to give examples of situations where the types of trade barriers would be appropriate
Split the class into groups of three students. Give each group a different country. The group must report on A-D
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B. Economic Conditions
1. Type of economic system
2. Level of education
3. Types of industries
4. Technology
C. Cultural and Social Factors
1. Language
2. Education
3. Religion
4. Values, customs
5. Social relationships
D. Political and Legal Factors
1. Type of government
2. Political stability
3. Government policies toward business
VI. The Global Marketplace
A. Multinational Corporation
1. Does business in many countries
2. Has facilities and offices in many countries around the world
3. Works like a shopping mall or a supermarket
C. Resources for a Country
1. Human
2. Natural
D. Specialization-influenced by the country’s resources
1. country with little money or advanced technology
2. country with a large population
3. specializes in manual labor for the country’s international business environment.
Ask students to explain why some
American companies outsource their manufacturing processes.
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VII. Currency-pay for products in a global economy
A. Exchange Rate
1. Price at which one currency can buy another currency
2. Exchange rates change from day to day and from country to country
3. Value of a currency depends on how many other countries want to buy the country’s products
B. Different Exchange Rate Scenarios
1. Favorable exchange rate-when the value of a country’s currency goes up compared to another country’s currency
2. Unfavorable exchange rate-when the value of a country’s currency goes down compared to another country’s currency
3. countries lower the value of their currency to bring in more business
Tell students to use the Internet to look up the latest currency exchange rates for different countries.
VIII. Balance of Trade
A. Trade Surplus-more exports than imports
B. Trade Deficit-more imports than exports
Conduct research to determine the U.S. balance of trade.
What can be done for the U.S. to improve its balance of trade?
Copy and paste Multiple Intelligences Graphic in appropriate place in left column.
Verbal
Linguistic
Logical
Mathematical
Visual
Spatial
Musical
Rhythmic
Bodily
Kinesthetic
Intra- personal
Inter- personal
Naturalist Existentialist
Application
Guided Practice (LSI Quadrant III): Some people believe that the United States should place stipulations on imports of goods that compete with U.S. businesses to prevent the “exporting of American jobs” to other countries. Give arguments for and against this position.
Independent Practice (LSI Quadrant III):
1. Global Shopping Assignment: Ask students to visit a retail store and select 10 clothing items they would like to own. Students then create a list of the items and
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indicate the countries where the items were manufactured. Students prepare a
PowerPoint presentation about their findings. The presentation should also suggest why different products are more likely to be manufactured in other parts of the world. This project will be evaluated using the assigned rubric.
2. International Business Report: Ask students to interview a person who has lived or worked in another country or to conduct research using the Internet to learn about business activity in another country. Students should collect information about cultural and business differences compared to the United
States. Students will prepare a two- or three-page report that includes their findings. The report will be evaluated using the assigned rubric.
3. Politics and Trade: Politics affect international business. Actions by the government influence actions by domestic and international businesses. Split the class into groups of three. Tell students that they are senators representing their state. They must for or against a bill that will raise taxes on U.S. businesses in an attempt to lower the U.S. deficit. Students must list the pros and cons of raising taxes on businesses. They must explain how U.S. businesses are likely to react to the higher taxes and what the impact will be on international trade and employment in the United States. Students will present their plan of action to the class and will be evaluated using the assigned rubric.
Summary
Review (LSI Quadrants I and IV):
Q: How do international business activities create jobs?
A: The international business activities increase the need to produce products and services around the world, resulting in greater employment opportunities.
Q: What is one example of global dependency in the U.S?
A: U.S. is globally dependent on energy sources from the Middle East.
Q: Why would a country consider using trade barriers?
A: Trade barriers are used to protect domestic production and domestic jobs.
Q: Why should a country be concerned about the falling value of its currency?
A: The falling value indicates economic weakness and bigger problems for the country’s future economy.
Q: What is the difference between a good and a service?
A: A good you can see and touch; it is a product to meet wants and needs. Services are activities that are consumed at the same time they are produced.
TYPES OF BUSINESSES
Students will design a poster that illustrates the five types of businesses covered in this lesson. The poster should give a concrete example of real businesses for each category. The assigned rubric will be used to evaluate this project.
Evaluation
Informal Assessment (LSI Quadrant III):
1. Instructor will observe students during Independent Practice.
2. Instructor will assist students as needed.
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Formal Assessment (LSI Quadrant III, IV):
Assigned Rubrics will be used to assess assignments 1, 2, and 3 for Independent
Practice (LSI Quadrant III). A rubric will be used to evaluate the “TYPES OF
BUSINESSES” poster.
Extension/Enrichment (LSI Quadrant IV):
1. Conduct research about Coca-Cola, using the company’s official web site. Coca-
Cola is sold in more than 200 countries. CocaCola’s web site provides information about how company has tailored its products and image to address cultural differences around the world. Locate a web site with information about the culture for another country and write a paragraph describe adjustments that
Coca-Cola would make to conduct business in that country.
2. Put the names of a wide variety of countries into a hat. Each student draws a name from the hat and conducts research about the country to determine its specialty. Then students report to class a good or service that is a specialty for the country.
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Global Shopping Assignment #1: Visit a retail store and select 10 clothing items That you would like to own. Then create a list of the items and indicate the countries where the items were manufactured. Prepare a PowerPoint presentation about your findings. The presentation should also suggest why different products are more likely to be manufactured in other parts of the world. This project will be evaluated using the assigned rubric.
International Business Report Assignment #2: Interview a person who has lived or worked in another country or conduct research using the Internet to learn about business activity in another country. Collect information about cultural and business differences compared to the United States. Prepare a two- or three-page report that includes your findings. The report will be evaluated using the assigned rubric.
Politics and Trade Assignment #3: Politics affect international business. Actions by the government influence actions by domestic and international businesses. You are a group of U.S. senators for your state. Your team must decide to vote for or against a bill that will raise taxes on U.S. businesses in an attempt to lower the U.S. deficit.
Your group must list the pros and cons of raising taxes on businesses. You must explain how U.S. businesses are likely to react to the higher taxes and what the impact will be on international trade and employment in the United States. Your group will present your plan of action to the class and will be evaluated using the assigned rubric.
TYPES OF BUSINESSES: Students will design a poster that illustrates the five types of businesses covered in this lesson. The poster should give a concrete example of real businesses for each category. The assigned rubric will be used to evaluate this project.
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Business in a Global Society
Global Shopping Assignment #1 Rubric
Student Name: _____________________________________________________
CATEGORY 20 15 10
Presentation
5 or less
Well-rehearsed with smooth delivery that holds audience attention.
Rehearsed with fairly Delivery not smooth, smooth delivery that holds audience attention most of the time. but able to maintain interest of the audience most of the time.
Delivery not smooth and audience attention often lost.
Attractiveness Makes excellent use of font, color, graphics, effects, etc. to enhance the presentation.
Makes good use of font, color, graphics, effects, etc. to enhance to presentation.
Makes use of font, color, graphics, effects, etc. but occasionally these
Use of font, color, graphics, effects etc. but these often distract from the detract from the presentation content. presentation content.
Requirements All requirements are met and exceeded.
All requirements are met.
One requirement was not completely met.
More than one requirement was not completely met.
Content Covers topic indepth with details and examples.
Includes essential knowledge about the topic. Subject
Subject knowledge is excellent. knowledge appears to be good.
Includes essential information about the topic but there are 1-2 factual errors.
Content is minimal
OR there are several factual errors.
Originality Product shows a large amount of original thought.
Ideas are creative and inventive.
Product shows some Uses other people's original thought.
Work shows new ideas and insights. ideas (giving them credit), but there is little evidence of original thinking.
Uses other people's ideas, but does not give them credit.
Total Score _______
Maximum 100 Points
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Business in a Global Society
International Business Report Assignment #2 Rubric
Student Name: _____________________________________________________
CATEGORY 20 15 10
Organization Information is very organized with wellconstructed paragraphs and subheadings.
Information is organized with wellconstructed paragraphs.
Information is organized, but paragraphs are not well-constructed.
5 or less
The information appears to be disorganized. 8)
Amount of
Information
Quality of
Information
Sources
Mechanics
All topics are addressed and all questions answered with at least 2 sentences about each.
All topics are addressed and most questions answered with at least 2 sentences about each.
All topics are addressed, and most questions answered with 1 sentence about each.
One or more topics were not addressed.
Information clearly relates to the main topic. It includes several supporting details and/or examples.
Information clearly relates to the main topic. It provides 1-2 supporting details and/or examples.
Information clearly relates to the main topic. No details and/or examples are given.
Information has little or nothing to do with the main topic.
All sources
(information and graphics) are accurately documented in the desired format.
All sources
(information and graphics) are accurately documented, but a few are not in the desired format.
All sources
(information and graphics) are accurately documented, but many are not in the desired format.
Some sources are not accurately documented.
No grammatical, spelling or punctuation errors.
Almost no grammatical, spelling
A few grammatical spelling, or or punctuation errors punctuation errors.
Many grammatical, spelling, or punctuation errors.
Total Score _______
Maximum 100 Points
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Business in a Global Society
Politics and Trade Assignment #3 Rubric
Student Name: _____________________________________________________
CATEGORY 20 15 10
Information All information presented in the debate was clear, accurate and thorough.
Most information presented in the debate was clear, accurate and thorough.
Most information presented in the debate was clear and accurate, but was not usually thorough.
5 or less
Information had several inaccuracies
OR was usually not clear.
Use of
Facts/Statistics
Presentation
Style
Organization
Every major point was well supported with several relevant facts, statistics and/or examples.
Every major point was adequately supported with relevant facts, statistics and/or examples.
Every major point was supported with facts, statistics and/or examples, but the relevance of some was questionable.
Every point was not supported.
Team consistently used gestures, eye contact, tone of voice and a level of enthusiasm in a way that kept the attention of the audience.
Team usually used gestures, eye contact, tone of voice and a level of enthusiasm in a way that kept the attention of the audience.
Team sometimes used gestures, eye contact, tone of voice and a level of enthusiasm in a way that kept the attention of the audience.
One or more members of the team had a presentation style that did not keep the attention of the audience.
All arguments were clearly tied to an idea (premise) and organized in a tight, logical fashion.
Most arguments were clearly tied to an idea (premise)
All arguments were clearly tied to an idea (premise) but and organized in a the organization was tight, logical fashion. sometimes not clear or logical.
Arguments were not clearly tied to an idea
(premise).
Understanding of Topic
The team clearly understood the topic in-depth and presented their information forcefully and convincingly.
The team clearly undestood the topic in-depth and presented their information with ease.
The team seemed to understand the main points of the topic and presented those with ease.
The team did not show an adequate understanding of the topic.
Total Score _______
Maximum 100 Points
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Business in a Global Society
Types of Businesses’ Rubric
Student Name: _____________________________________________________
CATEGORY 20 15 10
Content -
Accuracy
At least 7 accurate facts are displayed on the poster.
5 or less
5-6 accurate facts are displayed on the poster.
3-4 accurate facts are displayed on the poster.
Less than 3 accurate facts are displayed on the poster.
Knowledge
Gained
Required
Elements
Student can accurately answer all questions related to facts in the poster and processes used to create the poster.
Student can accurately answer most questions related to facts in the poster and processes used to create the poster.
The poster includes all required elements as well as additional information.
All required elements are included on the poster.
Student can accurately answer about 75% of questions related to facts in the poster and processes used to create the poster.
Student appears to have insufficient knowledge about the facts or processes used in the poster.
All but 1 of the required elements are included on the poster.
Several required elements were missing.
Graphics -Clarity Graphics are all in focus and the content easily viewed
Most graphics are in focus and the content easily and identified from 6 ft. away. viewed and identified from 6 ft. away.
Most graphics are in focus and the content is easily viewed and identified from 4 ft. away.
Many graphics are not clear or are too small.
Attractiveness The poster is exceptionally attractive in terms of design, layout, and neatness.
The poster is attractive in terms of design, layout and neatness.
The poster is acceptably attractive though it may be a bit messy.
The poster is distractingly messy or very poorly designed. It is not attractive.
Total Score _______
Maximum 100 Points
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