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