Discuss Invention vs Innovation

Read pages 345-356.

(Can be done in partners)  For the "Impact of Innovation" pages 350-356, for each subtitle, find 1-2 examples of how a product has been 'Innovated'.

Changing how the product is used
Changing the package
Changing the Marketing Strategy
Changing the Distribution Process
Changing the Design
Changing the Manufacturing Process

Assignment:  You are to look for a new product that was just out or will be out soon and answer the following questions:

1. Is it an innovation or invention (explain your answer)
2. Who is/are the target market(s)
3. Will this product be successful?  Explain your answer. 

Dragons Den

Introduction to Human Resources

Discuss Bucketlist and keeping good employees

Terms for today:

Human Resources
Skilled Labour
Unskilled Labour
employee turnover

ASSIGNMENT: For completion:  Define the terms on Compensation Types (pages 188-191)



Check stocks.

Dragons Den

Talk on Sears, a failure of Management to adapt to a changing market.

Discuss this LINK as a class.

Next,

Using this LINK, answer the following questions.

1. In your own words, briefly summarize the 3 reasons (there are more) that Sears Failed as a company that are explained here.

Questions from yesterdays notes and video.

1.  What management style is best? or is a combination best? explain with examples

2.  Read pages 220-221.  Explain some advantages and disadvantages of using teams. 

3. Give an example when it would be advantageous to have teams in a job/company. 

Today we are going to move on from Production to Management (functions of business)

Notes on Management/Leadership.  

Video "How Bad is your Boss"

Go over Tests

Today we will continue with production

Discuss and know these terms.

Raw Material
Processing
Grading
Quality Control
Labour
Capital.

Assignment.

Pick 2 products.  On YouTube, look up How they are made.  Can also search for How its Made and pick 2 products from the list.  After watching the video (most are about 5 min), answer the following

1. What 'raw materials' are used?
2. How are they processed?
3. Is there any grading?
4. What quality controls are in place?
5. What type of labour is used (skilled or unskilled) and is it intensive or non-intensive?
6. What are the Capital cost like, very high, high, low, very low.

Please do this for 2 products.

Check stocks.

Test during FLEX for those of you who were away. 

Today you will be starting to look at one of the Functions of Business: Production

Definitions, for completion: Pages 155-165

Natural Resources
Raw Materials
Labour
Capital
Information
Management
Purchasing
Processing
Quality Control

Next, read the section on improving productivity on pages 166-171.

For this scenario, you may work in partners. 

You started a small T shirt company where you print great designs for T shirts on your printer, press them on shirts you buy at a local discount store, then sell them on-line.  You have decided to start a formalized business.  You have acquired a business partner who is bringing a large amount of capital to your business.  Explain how you will scale your business.  Be specific, where will you locate? What type of machinery will you use? Any management strategies will you use? Point form with explanations will be fine.  

Dragons Den

NOTES on the FUNCTIONS of Business

Kahoot review game for the QUIZ on TUESDAY!!!!!

Read Pages 90-105 (NEW TEXTBOOK) and answer the following questions.

1. What does Duty to Report mean?
2. Do companies have to provide a safe work space in BC for workers? Who is in charge of safety in BC (not in the textbook)
3. What does glass ceiling mean when it comes to discrimination?
4. What is harassment in the workplace?
5. What is 'duty to accomodate' for businesses mean?
6. What does pay equity mean?
7. Explain what Fair Trade means.

Discuss question 8 page 105

Terns to know for the quiz on Tuesday

Supply and Demand
Free Market
Econominc Cycle: Growth, Boom, Recession, Depression
Business ownership: Sole Proprietorship, Partnership, Corporations
Franchise
Joint Ventures
Stratigic Alliances
Mergers
Multinational Corporations
Ethics
Whistle Blowing
Insider Trading
Fraud
Worker Safety/Harassment (WCB and Worksafe BC)
Triple Bottom Line (Profit, Planet, Profits or Environmental, Finanncial, and Socially Responsible)
Pay Equity
Privacy Laws (Know that peoples private information is protected by law)
Fair Trade
Planned Obsolecence (Story of Stuff)
Percieved Obsolecene (Story of Stuff)

 Watch 'The Story of Stuff"

The film shows problems with our current consumer culture but also points out some key marketing terms.

1. What is planned obsolescence?
2. What is perceived obsolescence?
3. What are your feelings on this 'film'? Is the world in 'crisis', should we change?
4. Everyday, people are becoming (a little) more aware of how their actions affect the environment and therefore themselves. Companies are trying to become (or a least appear) more environmentally responsible. This is part of what is sometimes called the 'Green Revolutions'. Write a paragraph about what marketing opportunities are being created by the Green Revolution for existing businesses, new businesses, and marketers. Feel free to use the internet as a resource.

Terms for Quiz next week.  

Terns to know for the quiz on WEDNESDAY

Supply and Demand
Free Market
Econominc Cycle: Growth, Boom, Recession, Depression
Business ownership: Sole Proprietorship, Partnership, Corporations
Franchise
Joint Ventures
Stratigic Alliances
Mergers
Multinational Corporations
Ethics
Whistle Blowing
Insider Trading
Fraud
Worker Safety/Harassment (WCB and Worksafe BC)
Triple Bottom Line (Profit, Planet, Profits or Environmental, Finanncial, and Socially Responsible)
Pay Equity
Fair Trade
Planned Obsolecence (Story of Stuff)
Percieved Obsolecene (Story of Stuff)

Dragons Den

Please Know the following terms.  

Joint Venture : When two or more business entities come together to achieve a common purpose, it’s called a joint venture.  Usually R&D (research and development) Ex, the new Toyota Supra made with both Toyota and BMW technology.  



International Franchise: A franchise that extends to multiple countries.  

Strategic Alliance: When two companies choose to work together to sell their goods and
products. 
 

Mergers: when two companies merge into one larger company to make it more competitive.  Example:


Multinational Corporations. Corporations that operate in multiple countries.  The 'Parent Company' may control many different brands under the same company.



TODAY'S Assignment

Video on Business Scandals.

Read Pages 83-89 in the New Textbook. 

Answer question 1,5 and 7.

Crypto Currencies.  

Notes on Economic Cycle.

Time to catch up and trade stocks. 

Feb 5

Dragons Den

Notes on Product Life Cycles

Customer Complaints.



Read pages 10-14 and answer questions 5,6 and 7 on page 14. 

Feb 4

Superbowl Commercials

Assignment

Pick 3 Superbowl commercials.  For each one, please answer the following questions.  Include a link or a description of the commercial. 

1. What is the (or who is) the Target Market?

2.  What is the strategy or strategies used?

3. In your opinion, is it a good or bad ad.  Why? 

Start Stock Market game and finish all assignments to date.

Stock Definition: The stock of a corporation is all of the shares into which ownership of the corporation is divided. In American English, the shares are commonly called stocks. A single share of the stock represents fractional ownership of the corporation in proportion to the total number of shares

Start Stock Market Assignment

Go to the following LINK and create an account