Task 4: Reflection

In this course, we explored a variety of introductory topics in business management. Here are the Modules and topics that we covered in this course (we learned a lot!):

Module/Topics

1b: Introduction - Foundations: general terminology, external forces affecting business activities, PESTLE, SWOT, Porter's Five Forces

2: Economics: economic systems, supply and demand, GDP, inflation, unemployment, fiscal policy, monetary policy

3: Ethics and Social Responsibility: ethical perspectives, global corruption, issues in business ethics, corporate social responsibility, stakeholder vs stockholder theory

4: Forms of Business Ownership: role of small businesses in the economy, sole proprietorships, partnerships, corporations, cooperatives

5: Entrepreneurship: advantages and disadvantages of starting a small business, business plans, franchises, financing, intellectual property, reasons for business failure, strategies for growing your business

6: Structuring Organizations: organizational charts, common organizational structures (e.g., divisional, matrix, etc.), levels of management, span of control, centralization vs decentralization

7: Marketing: definition, segmentation, target markets, the 4P's of marketing, brands, customer relationship management and social media marketing

9: Operations Management: supply chain vs value chain, types of production processes, production management versus service management, quality management, outsourcing

10: Accounting and Finance: types of accounting, accounting vs bookkeeping, three key financial statements, break even analysis, financial statement analysis

11: Human Resource Management and Unions: planning, recruitment and selection, training and development, compensation and rewards, feedback, retention, HR legislation, unions in Canada, collective bargaining and collective agreements, grievances vs mediation vs arbitration, union and mgmt. tactics

Question 1: In your opinion, which topics were most interesting or useful to you from a personal (not a professional) perspective? Why? (Explain in two or three sentences.)

Question 2: Think about the type of projects that you'll be working on as a professional in your field of interest. In your opinion, which topics were most interesting or useful to you from a professional perspective? Why? (Explain in two or three sentences.)

Question 3: Consider your personal interests, educational background, and work experience. If you were going to start a business of your own, what type of business (or non-profit organization) would YOU start?

Question 4: Reflect on the list of Modules and topics on the previous page. Describe in detail how (and why) you would apply FIVE of the course topics as you plan and launch YOUR business or non-profit organization.

If you currently own a business or non-profit organization, you can describe how you might apply five of the topics in our course to your current business.

In your responses, use concepts and terminology that we learned in the course. Don't define any concepts (assume that I understand the material in the textbook and in this course). Instead, focus on identifying and applying concepts to your business idea.