Final Exam Review

Final Exam Review (12/1)

1. In terms of profit what role does Risk play?
2. In terms of goods and services what role does Demand play?
3. In the world of finance resources what does Capital mean?
4. Provide an example of an Ethical issue in a for profit business?
5. What role would a Code of Ethics play in your example?
6. Fixed tariff (example)
7. NAFTA (What is it?)
8. Dividends (example)
9. What was the Organizational Culture like at your last job?
10. Define Operations Management
11. Describe Just-in-time management
12. Motivation, why study it in business management classes?
13. Who is Elton Mayo? How is he related to Elton John?
14. Hawthorne Studies. What were they?
15. Who is Maslow?
16. Describe a Theory X manager

Define

• Equity Theory
• Expectancy Theory
• Job Enrichment
• Job analysis
• Selling
• Demographic
• Psychological Pricing
• Marketing Mix
• CPA
• Liabilities
• Balance Sheet
• Depreciation

Week 9

Finance (study of how $ made, lost, managed)

Accountants do the books, Finance people make cash/capital investment decisions

Norm was charged w/overnight investments of Sprint cash (finance position)

Money (Currency, accepted exchange for goods and services)

How much is enough? Annual income benchmark

How much does that equate to per hour?  

How do most households earn their $25 per hour?

First banks were always local (cash was local with no regulations) (Pre FDR)

Money must be: Acceptability, Divisibility, Portability, Stability, Durability, Difficult to counterfeit

Banks regionalized, regulations grew, trust was in the details (FDR)  

Money Transactions Methods

Paper money and coins

Checking Account

Savings Accounts

Certificates of Deposits (interest rates)

Credit Cards

Debit Cards

Traveler's Checks

Money Orders

Cashier's Checks

Federal Reserve Board (The Fed)

Guardian of American Financial System

Established 1913 (Central Bank, prevents wild swings)

JP Morgan had more $ than US

American's don't like centralized name so it's called the FED

Controls money supply (Policies keeps $ flowing)

Regulates financial institutions

Supervises the FDIC

12 Regions

Monetary Policy (Keeps $ money supply and demand balanced)

Commercial Banks, Savings and Loans

Credit Unions

Mutual Savings Banks

FDIC (1933 Insurance fund for accounts)

National Credit Union Association (Regulates Credit Unions)

Banks Failures Happen (Think Great Recession)

Business Communications Skills (Exercise)
No Homework, enjoy your Thanksgiving
Business Plans due next class:)

1933 FDR Created SEC (Regulates stock market)

What is the SEC? (first 100 days of FDR, reaction to crash of 29)

1936 First use of GAAP (FDR, general regulation rules for banks, learn the same rules)  
JP Morgan The man and his role

What is the GAP? (Most of accounting is shades gray, transactions/corporate memory)

Audit uses GAAP rules, follows rules, fail safe accounting position,  

Spreadsheets Changed the Nature Accounting

1. Define Accounting (The Job)  
2. Define CPA (ABOUT CPA'S)

The Big Four

3. Ersnt and Young
4. KPMG
5. Deloitte
6. PricewaterhouseCoopers
7. Forensic Accounting (fit for legal review, booming since Enron) SME's
8. Private Accountants (didn't take or pass CPA exam, lots of them than CPA's)
9. Certified Management Accountants (Rules first term, Second term Decision Making)
10. Bookkeeping (low career path)
11. Accounting (Reporting, Decision Support, Control, Taxes)
12. Annual Report (Summary of firm's fiscal information) investors/key stakeholders
13. Basic Accounting Equation (Assets = Liabilities + Owners Equity) owner own $
14. Income Statement
15. Balance Sheet (Asset = Owned by firms) Liability (Owed by firm)
16. Double-Entry Bookkeeping
17. Accounts payable ($ owed by firm for materials)
18. Notes payable (Short loans)
19. Account Receivable ($ owed to firm by customers)
20. Current Assets (things 12 months or less, use this year)
21. Fixed Asset (the that last more than a year)
22. Depreciations (Things wear out, tax laws understand that, PC 5 years)

Audit Crew Jobs. Great place to start, exposure, work, play, road warriors, end up with great jobs in races they want to live.

Homework: Read Chapter 15 "Check Your Progress" Question 1-9
Bring paper copy to class Tuesday 11/22.   

Week 8

Use the back of your homework paper for classmates today

MIT Center For Digital Business

Describe your normal digital morning.

How do you, digitally, start your day?  What electronic devices do interact with? What websites? Describe your digital path (top 5 site you browse/check).

Using digital media what are you preference?

How do you like to be digitally marketed to?  

• Discuss examples Digital Marketing Characteristics
• Addressability (Amazon's cookies)
• Interactivity (active online engagements)
• Accessibility (big data)
• Connectivity (cultivating relationship)
• Control (consumers choice)  

1. What role will Digital Marketing play in your Business Plan
2. Digital Marketing Mix (Product, Distribution, Promotion, Pricing)
3. Social media marketing examples
4. Content - Context blog marketing
5. Mobile marketing
6. Digital Consumer Types: Creators, Conversationalists, Critics, Collectors, Joiners, Spectators, Inactives

Online fraud

Online identity   

Next class Chapter 14

Week 7

Homework 

Chapter 12 Review

1. What Apple Business Products are used directly for business operations (B2B)? 
2. How would you describe Apple's Product Line?
3. How about their Product Mix? (5 star diagram approach)
4. How many products do you use a day for personal use?
5. How would you describe the Product Life Cycle of your cell Phone?
6. Where in the Product Life Cycle would you put cable TV? 
7. Class Notes Product Life Cycle exercise 
8. How would you say PSU handles its Branding? (SWOT)
9. What are the top 5 Trade Marks of your life? 
10. Prove an example of Psychological Pricing?  
11. Give a Personal Selling example you've experienced?
12. What would you say is the best Sales Promotion you see going right now? 

Home work

• Week 8 Read Chapters 13 and 14
• Chapter 13 all ten "Check Your Progress Questions" Due: Tuesday 11/15
• Chapter 14 all ten "Check Your Progress Questions" Due: Thursday 11/17 
• Completed Business Plan is Due: 11/29 

Read Chapters 11 & 12
T/Chapter 11
Th/Chapter 12
Due Tuesday: Chapter 11 "Check Your Progress" questions 1, 2, 3, 4, 5
Due Thursday: Chapter 12 "Check Your Progress" questions 1, 2, 3, 4,5 6, 7, 8
Tuesday Return Business Plan Rough Draft
Week 7 Class Notes (Located at D2L) bring to class 

Social Trends Discussion Class

1. The Exchange Relationship (Seller + Buyer) = Social Contract Implied Agreements 
2. Value Marketing (creating customer perceived value)  
3. Apply Maslow's Hierarchy to consumer behavior (Building a market strategy)
4. Marketing Concept (Market, Target Market, Total Market)
5. Market Segmentation (Developmental by age)
6. Niche Marketing (Micro-segment, Macro-segment) The Long Tail (from Hits to Niche)  
7. Mega Trends (Aging, Health, Green, Intelligence, Generations) Futurist Movement 
8. Market Mix (Product, Price, Promotion, Distribution, Place)
9. Market Research (Behavioral Economics)
10. Buying Behavior (Decision Making Process)