Слайд 1Introduction to business
First meeting
Łukasz Konopielko
konop@gazeta.pl
Слайд 2Organizational issues
Key aims of the course
Meetings organization
Textbook: J. Sloman, K.Hinde,
Economics for business, 4th edition, (Harlow, FT Prentice Hall, 2007).
Schedule
Requirements
and grading
Each student presents either case or game
From time to time short papers to be submitted during next lecture
Active participation appreciated!
Слайд 3Case study (30% of grade)
Case studies will be appointed, according
to language abilities. Additionally, some case studies would be allocated
on the base of the field trips (if confirmed).
Deadline for case study paper submission: penultimate class.
Слайд 4Economic games (experiments - 20%)
Suggested list on: http://www.marietta.edu/~delemeeg/games/
You may wish
to find your own one, or even design it! It
is acceptable as long as you can evidence it and properly describe it.
You have to:
understand theoretical base for the game (what is this game for? expected outcome etc)
Run selected game (thus it’s good to do this during classes)
Describe both above as well as results and conclusions
Deadlines: 1. Game proposal: next class (with short paper).
2. Final paper submission: before exam. Lack of paper on case or game excludes from exam!!!
Слайд 5Presentation delivery
You won’t sell yourself if you:
Don’t know your subject
matter
Can’t remember what you are going to say
Repeat the same
thing over and over again
Speak too quietly or too quickly
Use confusing jargon
Give a mass of confusing and complicated facts
Can’t answer questions
Look awful /based on C.Carysoforth at al. „Business” 1993/.
Слайд 6More on presentation /by Mihai Budiu/
Clear introduction
Avoid details
Only one concluding
slide or paragraph
Humor is useful
Don't put useless information in graphs
Less
is better
Human attention is very limited!!
Слайд 7Bibligraphy (references)
A BIBLIOGRAPHY is a list of sources used by
the writer of a research paper, including books, encyclopedias, newspapers,
magazines, pamphlets, interviews, and electronic media. All the sources used are listed alphabetically.
All used sources must be attributed!! Also internet-based. Always try to figure out who the AUTHOR of the web site/page is and where this person got his/her information in order to determine the RELIABILITY of the data. There are many personal interest pages out there that are not trustworthy.
Слайд 8More on bibliography
"Creature Feature: Ants." Arizona-Sonora Desert Museum.
Arizona-Sonora
Desert Museum. 25 Jan. 2004
.
So:"Title of the part/page."
Name of the entire site. Publication information (sponsoring company, organization, institution, etc.) Date of Access .
Any citation or data quoted, or even transformed citation must be clearly marked in text allowing for identifying its source !!!
Слайд 9Now get back to business!
Business economics – mainly on FIRMS
Three
aspects:
External influences on the firm (business environment)
Internal decision of the
firm
The external effects of business making
Study of business will involve three types of activity:
-description
-analysis
-recommendations
Слайд 10The business environment
Political/legal factors
Economic factors (microeconomic and macroeconomic environment)
Social/cultural factors
Technological
factors
PEST analysis – political, economic, social and technological. The behavior
and performance of firms is affected by the business environment (PEST).
Слайд 11Structure of industry
Three broad categories:
Primary production. The production and extraction
of natural resources plus agriculture
Secondary production. The production from manufacturing
and construction sectors of the economy
Tertiary production. The production from the service sector of the economy.
Simplified distinction: production, agriculture and services
Слайд 12Industry
Group of firms that produce a particular category of product.
Industrial
sector – a grouping of industries producing similar products or
delivering similar services.
Industrial concentration – the degree to which an industry is dominated by large business enterprises.
How to measure? Share of the 3 (5,10) largest firms in the industry. Can be misleading…
Better index. Most popular: Herfindahl index
Слайд 13Herfindahl index
A measure of industry concentration. The value of the
index is the sum of the squares of the market
shares of all firms in an industry. Higher values indicate greater concentration.
where si is the market share of firm i in the market, and n is the number of firms.
Слайд 14Short paper for next lecture
Each student should write short (not
too short…) paper on:
Give some examples (2-3) of things we
might learn about the likely behavior and performance of business in an industry by knowing something about the industry concentration of that industry.
Paper will not be graded, however it must be turned in at the beginning of next meeting.