Business 20
Introduction to Business
Instructor: Jon Mikkelsen
“In business you get what
you want by giving other
people what they want.”
— Alice Foote MacDougall
Who should take this class?
• New to the business world?
• Investigating a business major / career?
• Broadening your background?
• You want to recognize opportunities and
not get blindsided by something you
should have seen coming.
Copyright © 2005 Prentice Hall, Inc. All rights reserved.
1–2
LEARNING OUTCOMES
What will I learn from this course?
1.
Basic business language
2.
How business people think & the processes they
use
3.
Market-force affects on you: freedom, control,
inflation, recession, outsourcing, etc.
4.
Business’s contributions and aggravations to
society
5.
Gain an insider perspective to help interpret events
6.
Apply business techniques to your decision making
Copyright © 2005 Prentice Hall, Inc. All rights reserved.
1–3
Major Study Topics
• Business Environment
 Why has the US been so successful historically?
 Why is the global market so important to YOUR
future?
 Starting a business vs. getting a job
 The good, bad and ugly of business: personal ethics
and responsibility
Copyright © 2005 Prentice Hall, Inc. All rights reserved.
1–4
Major Study Topics
• Business Management
 Planning, Organizing, Leading, Controlling
 Quality & Operations management
Copyright © 2005 Prentice Hall, Inc. All rights reserved.
1–5
Changes aren’t always easy…..
Copyright © 2005 Prentice Hall, Inc. All rights reserved.
1–6
Major Study Topics
• Marketing
 The 4 P’s
 The evolution of marketing
 A look in the mirror! Consumer behavior
Copyright © 2005 Prentice Hall, Inc. All rights reserved.
1–7
Major Study Topics
• Money and technology
 The banking system
 Basic financial analysis through accounting
 Information systems as a competitive advantage
NET SALES
COST OF GOODS SOLD
GROSS PROFIT
OPERATING EXPENSES:
Selling, general and administrative expenses
Other expense — net
Total operating expenses
OPERATING INCOME
INTEREST EXPENSE
EARNINGS BEFORE INCOME TAXES
INCOME TAX EXPENSE
NET EARNINGS
EARNINGS PER SHARE:
Basic
Copyright © 2005 Prentice Hall, Inc. All rights reserved.
Diluted
2004
2003
2002
$ 76,386,000
44,802,000
31,584,000
$ 39,077,000
22,457,000
16,620,000
$ 36,161,000
22,397,000
13,764,000
25,610,000
113,000
25,723,000
5,861,000
888,000
4,973,000
1,990,000
$ 2,983,000
12,696,000
1,377,000
14,073,000
2,547,000
620,000
1,927,000
986,000
$
941,000
9,661,000
442,000
10,103,000
3,661,000
751,000
2,910,000
1,207,000
$ 1,703,000
$
$
$
$
$
$
0.51
0.48
0.24
0.22
0.50
1–8
0.45
Major Student Deliverables:
• Tests – Multiple choice with SHORT essay
question(s). No make ups. Final exam score
replaces any one missed or lower exam score.
 Material will be drawn from lecture, book, cases, &
activities. Thinking & engagement are rewarded.
• Team Cases – Prime topic application with
teamwork practice and writing requirement.
Copyright © 2005 Prentice Hall, Inc. All rights reserved.
1–9
Recurring Student Deliverables:
• Chapter Questions – Due at the beginning of
every chapters’ lecture
• In-class cases / activities – Prepare in advance
by reading the case and writing out your initial
answers.
Copyright © 2005 Prentice Hall, Inc. All rights reserved.
1–10
Class Policies
• Attendance: Arrive on time. Come everyday. Absences
and tardies cost points and lower your grade. There are
no assignment make ups for attendance issues!
• Participation: Preparing assignments in advance, asking
questions, and participating in in-class activities raise
your participation score.
• Disruptions – cell phones ringing, text messaging,
chatting, or other disruptive behavior will lower your
score and may result in your being asked to leave.
Copyright © 2005 Prentice Hall, Inc. All rights reserved.
1–11
Class Policies
• Dropping – It is your responsibility to drop if you
do not plan to complete the course.
• Cheating – results in at least a 0 score on the
assignment up to immediate and permanent
dismissal or worse.
• Questions, alternate opinions, and personal
experience stories are welcome during lecture
and discussions – really.
• Extra Credit – Any project relating business to
your life is open for discussion. You start!
Copyright © 2005 Prentice Hall, Inc. All rights reserved.
1–12
What’s next?
• Chapter 1 overview lecture
• Chapter 1 teamwork to solve the assigned
questions.
• Then we will complete a short case study
involving supply and demand that will require
some knowledge of chapter 1.
Copyright © 2005 Prentice Hall, Inc. All rights reserved.
1–13
Welcome to the world of business……
Copyright © 2005 Prentice Hall, Inc. All rights reserved.
1–14