Business Mgt.: Thursday 8.15Reminders

Turn in signed syllabus sheet

Observational Assessments start today!

On PLC schedule still today

Today’s Agenda 3 Truths & 1 Lie DocuShare PowerPoint: About

Me Presentation Reading Assignment

Book Check Out

Business Mgt: Friday 8.16Reminders

Turn in signed syllabus sheet

Observational Assessments this week!

On PLC schedule still today

Today’s Agenda 3 Truths & 1 Lie Review

Observational Assessment

Vocab Check – Ch. 7 Lecture/Discussion -

Ch. 7 Sharktank…Maybe

Ch. 7 Notes: Types of Business Ownership Before we can learn how to manage a business we

need to understand the different types of businesses. What are they? Sole Proprietorship Partnerships Corporation

C / S / Nonprofit / LLC

Ch. 7 Notes: Types of Business Ownership Sole Proprietorship

Examples? Definition: A business that is owned an operated by

one person Accounts for nearly 76% of all businesses Easy to create Owner receives profits but liable for debts

Ch. 7 Notes: Types of Business Ownership Sole Proprietorship

Advantages Easy to create Complete Authority – One voice No Business Taxes Least Govt. Regulated

Ch. 7 Notes: Types of Business Ownership Sole Proprietorship

Disadvantages FINANCIAL

Unlimited liability for the owner What dose that mean? Full Responsibility – Personal Assets at Risk

Reliant on Skills of the Owner Owner Death Dissolves the Business

Will

Ch. 7 Notes: Types of Business Ownership Partnership

Examples? Definition: A business that is owned an operated by

two or more people - Unincorporated General and Limited Partnerships

General – Unlimited Personal Liability - Manage Limited – Limited Liability to Amount Invested – Not

Involved in Managing

Ch. 7 Notes: Types of Business Ownership Partnership

Advantages Easy to create Complete Authority Amongst Partners – Multiple

Voices Sharing of Ideas, Skills, and Knowledge

Ch. 7 Notes: Types of Business Ownership Partnership

Disadvantages Difficult to Dissolve Partnership w/o Ending Business Personality Conflicts / Disagreements Laws of Agency – Each Partner is Liable for the Other

Ch. 7 Notes: Types of Business Ownership Corporation

Examples? Definition: Registered by a state and operates apart

from its owners. Lives on After Ownership Leave or Die Ownership Equity = Stocks Purchase Goods / Sue and be Sued

Ch. 7 Notes: Types of Business Ownership C-Corporation

Definition: Pays taxes on earnings along with share holders. Most common corporation and it protects the owner’s liability

Shareholders Owners of Stock Majority Stock Holders Make Decisions

Board of Directors Required Makes Decisions

Ch. 7 Notes: Types of Business Ownership C-Corporation

Advantages Limited Liability Ability to Raise Capitol Longevity Tax Advantages Status Professionals

Ch. 7 Notes: Types of Business Ownership C-Corporation

Disadvantages Expensive to Create Heavily Taxed

Double Taxation on Earnings – Business and Shareholders Profits and Dividends

Ch. 7 Notes: Types of Business Ownership S-Corporation

Definition: Corporation that is taxed like a partnership

Advantages Profits Taxed Once

Disadvantages Limited Stockholders (75 US Citizens) One Class of Stock If Profits Don’t Cover Taxes, Owners Must Cover

Difference

Ch. 7 Notes: Types of Business Ownership Nonprofit Corporation

Definition: Makes money for reasons other than the owner’s profit Benefit a cause Profits can be made but must remain within the

company

Ch. 7 Notes: Types of Business Ownership LLC

Definition: Limited liability by owners. Similar to combination of corporation and limited partnership

Easier to Establish Compared to a Corporation Flexibility of Partnership Structure Not Liable for Company Debts Profits taxed Personally Not Limited to 75 Members Example – Law Firms

Business Mgt: Monday 8.19Reminders

Turn in signed syllabus sheet

Ch. 7 Vocab √ Observational

Assessments start today!

Back to Normal Schedule

Today’s Agenda 3 Truths & 1 Lie Review of Friday’s

Notes Begin: The

CorporationHandout

Business Mgt: Tuesday 8.20Reminders

Ch. 7 Vocab √ Observational

Assessments This Week!

PLC Schedule Today

Today’s Agenda 3 Truths & 1 Lie Continue: The

CorporationHandout

Business Mgt: Wednesday 8.21 Reminders

Ch. 7 Vocab √ Observational

Assessments This Week!

Normal Schedule Hand in: The

Corporation Worksheet & 1-2 Page Reflection

Today’s Agenda 3 Truths & 1 Lie Discuss Reflections

on The Corporation Corporation Research

Project Reading/Assignment

Ch. 24 Vocab Pg. 567

Corporation Research Project Working on Your Own: Provide Your Definition of Ethics Use the Internet to Research Corporations

5 Total Corporations Needed Identify an Unethical Act by the Corporation

Provide Link – News paper, Web Site, etc. Was the Act Also Illegal? Why Do You Believe The Corporation Acted as it Did

How Would You Have Acted Differently Would Your Actions Have Impacted Share Holders

Negatively?

Business Mgt: Thursday 8.22 Reminders

Ch. 24 Vocab √ Observational

Assessments This Week!

Hand in: The Corporation Worksheet & 1-2 Page Reflection

Upload Ethics Research to DocuShare

Today’s Agenda 3 Truths & 1 Lie Discuss Reflections on

The Corporation Ch. 24 Notes and

Class Discussion Reading/Assignment

Quiz Tomorrow Shark Tank - Maybe

Ch. 24 Notes: Social Responsibility and Ethics What does Social Responsibility mean to you?

Social Responsibility Principle that companies should contribute to the

welfare of society and not be devoted solely to profits Contract with society

Benefits?

Ch. 24 Notes: Social Responsibility and Ethics What is a Business’s Responsibility to:

Customers and Employees? Environment

EPA – Environmental Protection Agency Formed in 1970 Independent Federal Agency

Coordinate programs Enforce regulations Reduce Pollution and Protect the Environment

Ch. 24 Notes: Social Responsibility and Ethics How can a Business generate higher profits by

operating in an environmentally friendly manner?

Can this be a negative to consumers?

Ch. 24 Notes: Social Responsibility and Ethics Ethics

Your Definitions?

Definition: Guidelines for Human Behavior Moral Code by which People Live and Conduct

Business

Ch. 24 Notes: Social Responsibility and Ethics Business Ethics

Are these different than Your Own Personal Ethics? How So?

Study of Behavior and Morals in Business Situations Begin at the Top

How Does a Owner or Boss’s Ethics impact the ethics and Behaviors of the Employees?

Does the Size of a Company Impact it’s Ethics?

Ch. 24 Notes: Social Responsibility and Ethics Code of Ethics

A Group of Ethical Behavior Guidelines that Govern the Day-to-Day Activities of a Profession or Organization Examples?

Can Protect a Business Legally Show’s the Business Does Not Condone Illegal Actions Long Term Benefits

Ch. 24 Notes: Social Responsibility and Ethics Code of Ethics

Written or Unwritten

Creating a Code of Ethics Brainstorm Ethical Dilemmas Discuss Potential Solutions Write General Guidelines Improve Code

Ch. 24 Notes: Social Responsibility and Ethics Conflict of Interest

Clash Between a Person's Private Interests and His or Her Responsibilities in a Position of Trust Have You Heard of This?...Examples?

Cultural Differences Important to Understand the Ethical Expectations of

that Country’s Culture

Business Mgt: Friday 8.23 Reminders

Ch. 7 & 24 Vocab √ Observational

Assessments This Week!

Hand in: The Corporation Worksheet & 1-2 Page Reflection

Upload Ethics Research to DocuShare

Today’s Agenda 3 Truths & 1 Lie QUIZ!!!

Start With Video Clip Finish - Shark Tank

Business Mgt: Monday 8.26 Reminders

Ch. 7 & 24 Vocab √ Hand in: The

Corporation Worksheet & 1-2 Page Reflection

Upload Ethics Research to DocuShare

Today’s Agenda 3 Truths & 1 Lie Read Ch. 14

Vocab Self Check #1-3 Pg.

346 Think #4 Pg. 346 2 Pg. Reflection Paper

Pg. 350 #12

Business Mgt: Tuesday 8.27Reminders

Ch. 14 Vocab √After Lunch

Hand in: Self Check #1-3 Pg.

346 Think #4 Pg. 346 2 Pg. Reflection Paper

Pg. 350 #12

Today’s Agenda 3 Truths & 1 Lie Undercover Boss

Handout

Tomorrow Review Quiz Ch.14 Notes / Discussion