Types of Business

The latest unit of the course covered different types of businesses. Please answer the following questions to demonstrate your understanding of the information taught in the course.

1. The class looked at the following types of business ownership;

• Sole proprietorships,
• Partners,
• Corporations,
• Cooperatives,
• Franchises

Select 3 of the above and explain the term as a type of business ownership.

2. Is small business really the small? Explain the importance of small business to Canada.

3. If you started a business tomorrow, what kind of business would you select? Why?

Being a SMART consumer

In class, we have just finished the culminating activity for the SMART consumer unit and the course. Consider all the information and concepts discussed in the unit and during your time working on the culminating project when you are answering the following questions;

1. What is a SMART consumer and how can someone be one?
2. When you were completing your SMART consumer project; what product did you research and what information or advice would you have for someone thinking of purchasing the product.

The Product Life Cycle

We are now at the end of the PLC unit. Answer the questions below to demonstrate your understanding of this key concept;

How does the Product Life Cycle explain how products are developed and sold?  What decisions does a business make when a product is in different stages of the life cycle?

All About Money!

We are a month into the semester now and into our second unit.  We spent the last two weeks discussing money; why it is used, the role the government plays in issuing money and how it helps business "work."

Answer the following questions to illustrate and extend your understanding of our class discussions;

1. In class we had an excellent discussion about money and an item's value.  We noticed how a good or service's price is often different then its value to the potential customer. We also discussed how an item's value can differ between to consumers. Explain both of these observations using an example from your own experience.
2. Are you a spender or a saver?  Justify your answer with examples of your behavior.  If you're a saver; what are you saving for? If you are a spender; what are some item's you are constantly spending money on that prevent you from saving?

Maslow's Hierarchy of Needs

Over the past 3 classes we have been talking about Maslow's Hierarchy of Needs. Consumer behavior can be explained using the hierarchy to frame purchasing decisions. Answer the two questions below to illustrate your understanding of the hierarchy;

1. What level of Maslow's Hierarchy do you understand the best or makes the most sense to you? Explain your answer. 
2. Discuss 2 purchases you recently made and how they can be explained using Maslow's Hierarchy of Needs.  Select two that satisfy different levels of the Hierarchy.

Welcome to Introduction to Business

In this blog we will be discussing business concepts covered in class.

Here is how it will work in our class.  I will be post a question based on a concept we have worked with in class.  You will respond to the question by adding new information or giving your opinion.

Before we get into any course work here, please tell me about yourself. Its always nice to get to know the people that you work with a little better. Please take the time to answer the questions below.

Here we go;

1. Tell me a bit about yourself - Likes, dislikes, hobbies or perhaps your favorite activity?
2. Do you have a job? Where, what do you do and do you like it?
3. How did last year go?  What courses did you ace and what course did you have difficulty with? 
4. What sort of activities and lessons do you like to do in class?

• Writing notes,
• Investigating or researching
• Skits and demonstrations
• Reading from the textbook
• Watching a video
• Listening to a podcasts