Chapter 1 in my Business 101 Course is "Taking Risks and Making Profits within the Dynamic Business Environment". The chapter consists of most basic concepts: business, goods, services, entrepreneur, risk, revenue, profit, loss, standard of living, quality of life, social business, non-profit organizations, out-sourcing, in-sourcing, stakeholders...
Goals included:
1. Describe the relationship between profit and risk and show how businesses and nonprofit organizations can raise the standard of living for all.
- What are the possible risks that we may have in building a kindergarten?
- How we can avoid the risks?
2. Compare and contrast being an entrepreneur and working for others.
- As entrepreneur, we must understand our employees so as to treat them well
3. Analyze the effect of the economic environment and taxes on businesses
- For now, we have decided to build a kindergarten in Vietnam, Hanoi. Thus, we must be aware of what is happening in Vietnam?
4. Describes the effects of technology on businesses
Business may include good IT support.
5. Demonstrate how businesses can meet and beat competition
- Focus on communication and product quality
6. Analyze the social changes affecting businesses
- Since
7. Identify what businesses must do to meet global challenges including war and terrorism
8. Review how past trends are being repeated in the present and what those trends mean for tomorrow's college graduates.
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