Introduction to Commerce slides 3 for blackboard.pdf

8/11/2019 Introduction to Commerce slides 3 for blackboard.pdf

1/22

RSM100 An Introduction to Business and

Management

John M. Oesch

Rotman School, University of Toronto


2/22

Agenda for today

1. Course overview2. Introductions and expectations3. Writing component4. Exams5. Standard operating procedures6. What Adam Smith said


3/22

Overview of RSM100

Introduction to Commerce Business History

Model-Based Problem Solving Business and Society Business Communication

Business Ethics Strategic HRM (Managers, Leaders,

Teams and the organization)


4/22

Overview for term 2

Marketing Accounting

Strategy and Business Operations Finance Business Law

Information Technology International Business


5/22

Introductions and Expectations

1. classroom function2. textbook

3. instructors4. TAs5. research requirement

6. writing component7. exam dates: December and April


6/22

Classroom function

Do your best to be on time; We will start at2:10 sharp every day (finish at 3:55)

A 5-7min break at approx 1 hour

Please keep electronics on topic

We are all adults here


7/22

Textbook

Contemporary Business (1 st CanadianEdition) Boone, Kurtz, Khan & Canzer,ISBN: 9781118498637 Includes Wiley plus online supplement

We will make extensive use of this text The text will be the anchor document for

the December exam and final exam


8/22

Instructors

Professors: John Oesch, Michael Khan

Teaching Assistant(s): Sadaf Sheikh and

team


9/22

Research Requirement

Research requirement: 2%

Participation in Rotman research helps usall how?

Dr. Robert Latimer has details


10/22

Writing Component

We listen to our stakeholders!

Two steps:1. Complete the MyWritingLab sequence2. Submit a short paper (details to follow)


11/22

Examinations

Practice Midterm: Oct 21 0%

Midterm: December exam period 38%

Final exam: April exam period 50%

Exams will be multiple choice, short answer

The final exam will NOT be cumulative


12/22

Standard Operating Procedures

1. Use the portal I will post assignment sheets and

supplemental readings (if required) Check for announcements Slides may be posted after class TAs can also post on portal

2. Be prepared for class This applies to instructor and to students


13/22

Standard Operating Procedures

3. We will use Top Hat classroom software

3. Office hours both regular (TA) and withappointment (John) to ask RSM100content questions


14/22

Who to ask

Before you ask, read the course outline, askaround, look it up!

If you need to ask Academic questions about RSM100: TA Academic questions about Commerce:

Rob Michaud in Commerce Office

Administrative questions: RotmanCommerce

Specific content questions: TA, instructor(s)


15/22

Introduction to Commerce

Adam Smith, The Wealth of Nations (1776)

Foundation document for capitalism, freeenterprise, free trade, wealth creation

Capitalism: a legal system that safeguardsprivate property and permits free trade incompetitive markets; production andconsumption are not controlled


16/22


What Adam Smith said: Free enterprise will maximize productivity

because the invisible hand of self -interest motivates individuals to work hard

The rich may get richer, but the poor willalso be better off as economies grow

Unrestrained capitalism would result inconcentrations of wealth and power


17/22


What Adam Smith said: Government must regulate capitalists so

that the rich and powerful cannot affectpolitical and social policy for their own gain

Eg . Savings and Loan debacle (1980s)

How does government regulate us?


18/22


What Adam Smith said: The wealth of a nation depends on its

ability to trade freely with other nations Specialization increases productivity

Eg. Canada should not manufacturetelevisions


19/22


What Adam Smith said:

Free enterprise gives us reason to beoptimistic; individuals will improve theirown well-being if given the opportunity

Why would anyone want to work a really,really dirty job?


20/22


What Adam Smith did not say :

Laissez -faire capitalism is the best wayto maximize productivity and wealthcreation

Eg. Sub-prime mortgage meltdown (2008)


21/22

For next week...

Again READ THE COURSE OUTLINE

Start working on Chapters 1-6 these will also apply to our Business in

Society, Business Ethics section as well

Check the portal for the preparation sheets


22/22

Thank You

Documents

Introduction to Commerce slides 3 for blackboard.pdf