Introduction to business1.pptx
- Количество слайдов: 14
Introduction to business First meeting Łukasz Konopielko konop@gazeta. pl
Organizational issues • Key aims of the course • Meetings organization • Textbook: J. Sloman, K. Hinde, Economics for business, 4 th edition, (Harlow, FT Prentice Hall, 2007). • Schedule • Requirements and grading • Each student presents either case or game • From time to time short papers to be submitted during next lecture • Active participation appreciated!
Case study (30% of grade) • Case studies will be appointed, according to language abilities. Additionally, some case studies would be allocated on the base of the field trips (if confirmed). • Deadline for case study paper submission: penultimate class.
Economic games (experiments - 20%) • Suggested list on: http: //www. marietta. edu/~delemeeg/games/ • You may wish to find your own one, or even design it! It is acceptable as long as you can evidence it and properly describe it. • You have to: • understand theoretical base for the game (what is this game for? expected outcome etc) • Run selected game (thus it’s good to do this during classes) • Describe both above as well as results and conclusions Deadlines: 1. Game proposal: next class (with short paper). 2. Final paper submission: before exam. Lack of paper on case or game excludes from exam!!!
Presentation delivery • You won’t sell yourself if you: – Don’t know your subject matter – Can’t remember what you are going to say – Repeat the same thing over and over again – Speak too quietly or too quickly – Use confusing jargon – Give a mass of confusing and complicated facts – Can’t answer questions – Look awful /based on C. Carysoforth at al. „Business” 1993/.
More on presentation /by Mihai Budiu/ • • Clear introduction Avoid details Only one concluding slide or paragraph Humor is useful Don't put useless information in graphs Less is better Human attention is very limited!!
Bibligraphy (references) • A BIBLIOGRAPHY is a list of sources used by the writer of a research paper, including books, encyclopedias, newspapers, magazines, pamphlets, interviews, and electronic media. All the sources used are listed alphabetically. • All used sources must be attributed!! Also internetbased. Always try to figure out who the AUTHOR of the web site/page is and where this person got his/her information in order to determine the RELIABILITY of the data. There are many personal interest pages out there that are not trustworthy.
More on bibliography • "Creature Feature: Ants. " Arizona-Sonora Desert Museum. 25 Jan. 2004 <http: //www. desertmuseum. org/kids/features_ants. html>. So: "Title of the part/page. " Name of the entire site. Publication information (sponsoring company, organization, institution, etc. ) Date of Access <URL>. Any citation or data quoted, or even transformed citation must be clearly marked in text allowing for identifying its source !!!
Now get back to business! • Business economics – mainly on FIRMS • Three aspects: – External influences on the firm (business environment) – Internal decision of the firm – The external effects of business making Study of business will involve three types of activity: -description -analysis -recommendations
The business environment • Political/legal factors • Economic factors (microeconomic and macroeconomic environment) • Social/cultural factors • Technological factors • PEST analysis – political, economic, social and technological. The behavior and performance of firms is affected by the business environment (PEST).
Structure of industry • Three broad categories: – Primary production. The production and extraction of natural resources plus agriculture – Secondary production. The production from manufacturing and construction sectors of the economy – Tertiary production. The production from the service sector of the economy. Simplified distinction: production, agriculture and services
Industry • Group of firms that produce a particular category of product. • Industrial sector – a grouping of industries producing similar products or delivering similar services. • Industrial concentration – the degree to which an industry is dominated by large business enterprises. • How to measure? Share of the 3 (5, 10) largest firms in the industry. Can be misleading… • Better index. Most popular: Herfindahl index
Herfindahl index A measure of industry concentration. The value of the index is the sum of the squares of the market shares of all firms in an industry. Higher values indicate greater concentration. where si is the market share of firm i in the market, and n is the number of firms.
Short paper for next lecture • Each student should write short (not too short…) paper on: • Give some examples (2 -3) of things we might learn about the likely behavior and performance of business in an industry by knowing something about the industry concentration of that industry. • Paper will not be graded, however it must be turned in at the beginning of next meeting.
Introduction to business1.pptx