High school students are likely working at a business, planning what type of
business they want to work for, spending money at a business, or all
three. Taking business fundamentals will allow them to be successful in how they
approach all three of these aspects of their life.
A student currently working in a business may want to understand the concepts or
the conditions that affect supply & demand so they can answer the questions from
customers. For example, a student working in a grocery store and customers
continue to ask why their favourite product has not been stocked in weeks or why
their favourite product has gone up in price.
A student planning what type of business they want to work for may want to
understand the different types of business and the pros & cons associated with
them. For example, what is the difference between for-profit and not-for-profit?
Who are the customers that they serve and how do they address their consumer's
needs? What sort of business ethics and social responsibility do they stand by? As
people, we all have different needs, wants, beliefs and moral standards. Working for
an employer or being an employer is or will become a major part of our day-to-day
lives. It is important to understand that no one business is alike, just like no one
person is alike, and with that being said you need to be able to assess the whole
business function to ensure there is a fit for you.
Equally important is spending money. Businesses work every day to convince us
that the good or service they provide is better than the competition and worthy of
our hard-earned money. Similar to the above, students understanding the functions
of a business will allow them to make better decisions about where they want to
spend their money. Is this a multinational corporation or a sole proprietorship?
What is this companies community impact? This good is a lot cheaper than their
competitors, but what are the social costs associated with these lower costs? This
course provides the backbone for students to become more aware of who they are
as employees, employers or consumers.