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BBI 2O
Introduction to Business
BELL WORK
Skim through chapter 1, write
down any bolded terms you are
not familiar with. (5 minutes)
Read ―Pita Pit‖, page 5. Answer
questions #1, #2 (5 minutes)
Slide
2
BBI 2O
Unit 1
UNIT 1: Business
Fundamentals
Chapter 1:
Economic Basics
What is a Business?
―I feel that luck is
preparation meeting
opportunity‖
~ Oprah Winfrey
What is a Business?
There are many ways to classify a
business.
Slide
5
BBI 2O
Unit 1
What is a Business?
A For-profit Business
―an organization that produces
or sells goods or services to
satisfy the needs, wants, and
demands of consumers for the
purposes of making a profit‖
Slide
6
BBI 2O
Unit 1
What is a Business?
A For-profit Business
Profit: money left after all
expenses have been paid
Expenses: money spent on
running the business (wages,
supplies)
Slide
7
BBI 2O
Unit 1
What is a Business?
A For-profit Business
Costs: money spent for the
production of the good or
service
Businesses try to keep profits up
Slide by keeping costs and expenses
8
BBI 2O down.
Unit 1
What is a Business?
A For-profit Business
Profit = Revenue – Expenses
If profit is negative, it is called
Slide
a loss.
9
BBI 2O
Unit 1
What is a Business?
A For-profit Business
A business which makes profit
may use the money to:
• expand/grow operations
• improve products/services
Slide
• give to owner/shareholders
10
BBI 2O
Unit 1
What is a Business?
Non-profit and Not-for-profit
Businesses
NP: does not look to make
profit, but raises funds for a
specific goal (charities,
charitable organizations)
Slide
11 Examples?
BBI 2O
Unit 1
What is a Business?
Non-profit and Not-for-profit
Businesses
NFP: does not seek to make
profit, extra monies used to
improve services
Slide
12 Examples?
BBI 2O
Unit 1
What is a Business?
Non-profit and Not-for-profit
Businesses
Co-operative: A group of
people who come together to
meet a set of goals in a
democratically controlled
Slide
13 business.
BBI 2O
Unit 1
What is a Business?
Size of Business
Small or medium sized
business: less than 500 people
Slide
14
BBI 2O
Unit 1
What is a Business?
Forms of Business
Ownership
will be covered in chapter 2
Slide
15
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Unit 1
What is a Business?
Goods or Services?
Businesses either sell goods
(physical things you take
home) or provide services (do
something) in exchange for
money.
Slide
16 Some do both.
BBI 2O
Unit 1
What is a Business?
Goods or Services?
G IVE Businesses that sell
goods
ME Businesses that
5
provide services
Businesses that do
Slide
17 both.
BBI 2O
Unit 1
What is a Business?
Distribution
How are goods & services
delivered?
– Bricks and mortar business,
telemarketing, catalogue,
virtual store (internet)
Slide
18
BBI 2O
Examples?
Unit 1
What is a Business?
Role in the Community
What does the business do for
the community?
Slide
19
BBI 2O
Unit 1
What is a Business?
Jobs
What type of jobs does it
provide?
Slide
20
BBI 2O
Unit 1
What is a Business?
HOMEWORK
• read pages 6-9
• questions: page 10 #3, 4
• read pages 10-14
Slide
21
BBI 2O
Unit 1
The Role of the Consumer
Role of the Consumer
Producers manufacture goods for
consumers. Companies that
attract more consumers can make
more sales and more profit.
Slide
23
BBI 2O
Unit 1
Role of the Consumer
The interaction between producer
and consumer creates the
marketplace.
PRODUCER CONSUMER
Slide MARKETPLACE
24
BBI 2O
Unit 1
Role of the Consumer
Years ago, business dictated what
was produced, and in what
quantities.
Eventually, consumers started to
tell manufacturers their needs and
wants, creating competition.
Slide
25
BBI 2O
Unit 1
Role of Consumer
Name some new trends and
related products on the market.
Slide
26
BBI 2O
Unit 1
Role of the Consumer
Consider High-Definition TV trends:
RIM (Blackberry) vs. Apple (iPhone)
Who will decide which technology will
win?
Slide
27
BBI 2O
Unit 1
Role of the Consumer
Consumers also decide when a
product will no longer be
produced. When no one wants a
product anymore, it becomes
obsolete.
Slide What are some things you know of
28
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that have become obsolete?
Unit 1
Role of the Consumer
Consumers also influence price.
Companies used to have pricing
power (could charge what they
want), but with competition
consumers can shop around for
the best deal.
Slide
29
BBI 2O
Unit 1
Role of the Consumer
Consumers also have consumer
purchasing power—as
customers they dictate how much
they are willing to pay, but also
the level of service.
Slide
30
BBI 2O
Unit 1
Role of the Consumer
HOMEWORK
• Questions: page 14, q #5, 6, 7
• Read pages 15-19
Slide
31
BBI 2O
Unit 1
Starting a Business
Starting a Business
People who start their own
businesses are called
entrepreneurs.
Slide
33
BBI 2O
Unit 1
Starting a Business
Entrepreneurs need:
• self-confidence
• a flair for innovation
• the ability to work alone
• an aptitude for managing
Slide
others
34
BBI 2O
Unit 1
Starting a Business
Consumer Needs and Wants
Sometimes a business is started
to satisfy consumer needs.
Needs are things that are
necessary for survival.
Slide
35 You need food, clothing.
BBI 2O
Unit 1
Starting a Business
Consumer Needs and Wants
Wants are things that are not
necessary for survival, but add
comfort and pleasure to our
lives.
Slide
36 You want a burger, A&F shirt.
BBI 2O
Unit 1
Starting a Business
Attracting Consumer Interest
It is important to understand
how consumers make buying
decisions. This will help decide
what to make, how to market
and distribute the product.
Slide
37
BBI 2O
Unit 1
Starting a Business
Attracting Consumer Interest
Businesses need to listen to
what the consumer wants. The
challenge is then to get those
customers to buy your product.
Slide
38
BBI 2O
Unit 1
Starting a Business
Attracting Consumer Interest
BRAINSTORM
What can companies do to attract
Slide
more customers?
39
BBI 2O
Unit 1
Starting a Business
Attracting Consumer Interest
Sample answers:
• create a new product
• modify an existing product
• more heavily promote a product
• offer purchase incentives (coupons)
• convince consumers they need (want) the product
• develop different uses for product
Slide • offer free samples
40 • in-store demonstrations
BBI 2O
Unit 1
Starting a Business
Attracting Consumer Interest
The task is to come up with a
product the consumer needs or
wants, at a price they’re willing
to pay, in a place that is
convenient, and promote it so
Slide
41
they know about it.
BBI 2O
Unit 1
Starting a Business
HOMEWORK
• complete worksheets C & E
for tomorrow
• start working on Entrepreneur
assignment
Slide
• read pages 20-22
42
BBI 2O
Unit 1
BELL WORK
“Being in business means making
decisions all the time, every day.”
WRITE
DOWN
G IVE With a partner, pick a
ME business. Write down
DON’T
WRITE
five decisions that a
5
business needs to make
Slide
in an average day. (5
43 minutes)
BBI 2O
Unit 1
Homework Check
• Hand in worksheet C & E
• Reminder: ―Do You Have
What it Takes to Be an
Entrepreneur‖ activity due
tomorrow in class
Slide
44
BBI 2O
Unit 1
Making Good Business
Decisions
Making Good Bus. Decisions
The five-step decision-making
model can be used to help in any
business situation.
(as we go through this note, refer
to example in textbook, pages 20-
Slide
46 22)
BBI 2O
Unit 1
Consider this:
Cambridge Stick Inc. makes hockey and
ringette sticks. Cambridge Stick is a major
sponsor of the ringette national
championships which are being held in
Cambridge and demand for their sticks has
sky-rocketed - so much that it cannot keep
up with demand.
Slide
47
BBI 2O
Unit 1
Making Good Bus. Decisions
1. Determine what decision has
to be made.
What is the problem? What
issue needs to be resolved?
Slide
48
BBI 2O
Unit 1
Making Good Bus. Decisions
2. Identify the alternatives.
Brainstorm as many
solutions to the problem as
possible.
Slide
49
BBI 2O
Unit 1
Making Good Bus. Decisions
3. Evaluate the advantages and
disadvantages of each.
What are the pros and cons
of each option?
Slide
50
BBI 2O
Unit 1
Making Good Bus. Decisions
4. Make a decision and take
action.
Choose the best alternative,
and go with it.
Slide
51
BBI 2O
Unit 1
Making Good Bus. Decisions
5. Evaluate the decision.
After some time, review the
decision. Was it the best
choice? Would you do
something differently or
considered something else
Slide
52
next time?
BBI 2O
Unit 1
Making Good Bus. Decisions
1. Determine what decision has to
be made.
2. Identify the alternatives.
3. Evaluate the advantages and
disadvantages of each.
4. Make a decision and take action.
Slide 5. Evaluate the decision.
53
BBI 2O
Unit 1
Making Good Bus. Decisions
HOMEWORK
• Finish Entrepreneurial
assignment
• Pick a significant decision you
made/need to make, apply the
decision-making process
Slide • Question: page 22, #13
54
BBI 2O
• Apply Q #13 to your decision
Unit 1
BELL WORK
Think of that big bag of potato
chips you are going to have after
this class. What are ALL of the
things that went into making that
bag of chips? [And I do mean
ALL!] List one under the other.
Slide (on your own, 5 minutes)
55
BBI 2O
Unit 1
Economic Resources
Economic Resources
Economic resources, or factors of
production are how products are
made available to consumers.
Slide
57
BBI 2O
Unit 1
Economic Resources
Natural Resources
- Materials that come from the
earth, water, or air
- Most are non-renewable (oil),
or take a long time to renew
(trees)
Slide
58 - Businesses are limited
BBI 2O
Unit 1
Economic Resources
Human Resources
- Also called labour, ―HR‖
- The people who are involved
in the production of the
product
- Most businesses have an HR
Slide
59 department
BBI 2O
Unit 1
Economic Resources
Capital Resources
- The buildings, equipment,
vehicles, factories used
- Usually last a long time,
require large initial investment
- Money is considered capital
Slide
60 too!
BBI 2O
Unit 1
Economic Resources
Interdependence
- Almost all companies have
some dependence on other
companies
- Works on many levels
You get the Cambridge Times–what are
Slide all the things you depend on to get that
61 newspaper? Classify each.
BBI 2O
Unit 1
Economic Resources
Economic Systems
- A way to deal with the
selection, production,
distribution and consumption
of products
- Gov’t and business work
together
Slide
62
- Try to make best use of
BBI 2O resources, develop alternatives
Unit 1
Economic Resources
TASK
Go back to the list you
generated during bell work.
Identify each item as either a
natural resource, human
resource, or capital resource.
Slide Submit to teacher.
63
BBI 2O
Unit 1
Economic Resources
HOMEWORK
• Questions: page 28, q #15, 16
• Read pages 28-32
→ pay special attention to
the two tables
• CHAPTER 1 FORMATIVE
Slide QUIZ Friday (F.I.T.B.)
64
BBI 2O
Unit 1
Demand, Supply, and Price
Demand, Supply, and Price
Demand is quantity consumers
are willing/able to buy at a
particular price. Generally:
lower price = greater demand
Slide
66 Called the law of demand.
BBI 2O
Unit 1
Demand, Supply, and Price
The Demand Curve
High prices → Demand is low
Price
Low prices → Demand is high
Slide
67
Quantity
BBI 2O
Unit 1
Demand, Supply, and Price
Demand is created by:
• Consumer awareness/interest
• Ample supply
• Reasonable/competitive price
• Easy access
Slide
68
BBI 2O
Unit 1
Demand, Supply, and Price
Factors that Affect Demand
Leave 8-10 blank lines to
summarize table 1.2 (page 29)
Slide
69
BBI 2O
Unit 1
Demand, Supply, and Price
Supply is the quantity that
business is willing to provide for a
range of prices people are willing
to pay. Generally,
Higher price = higher supply
Slide
70
BBI 2O Called the law of supply.
Unit 1
Demand, Supply, and Price
The Supply Curve
High prices → Supply is high
Price
Low prices → Supply is low
Slide
71 Quantity
BBI 2O
Unit 1
Demand, Supply, and Price
Supply is created by a company’s
desire to satisfy consumers’ needs
and wants for a price.
Sometimes, a business will try to
create demand for a product
through marketing it well.
Slide
72
BBI 2O
Unit 1
Demand, Supply, and Price
Factors that Affect Supply
Leave 8-10 blank lines to
summarize table 1.3 (page 31)
Slide
73
BBI 2O
Unit 1
Demand, Supply, and Price
Price is determined by many
factors, including demand and
supply. Another important factor
is cost of production.
Slide
74
BBI 2O
Unit 1
Demand, Supply, and Price
HOMEWORK
• Summarize tables into notes
• Questions: page 32, q #18, 21
• Chapter Review questions:
page 33, q #1, 4, 5, 6, 7, 8, 12
Slide
• CHAPTER 1 FORMATIVE
75
BBI 2O
F.I.T.B. QUIZ FRIDAY
Unit 1
BELL WORK
In your groups, speculate about
the types of decisions business
people must make before opening
a business. Record your ideas so
that you can compare them with
your answers to the questions you
Slide will complete at the end of this
76
BBI 2O
chapter. (10 minutes)
Unit 1
UNIT 1: Business
Fundamentals
Chapter 2:
Types of Businesses
Forms of Business
Ownership
Forms of Bus. Ownership
Who is your boss?
Who is your boss’s boss?
Can you become part owner?
Forms of business ownership and
type of business help describe
how the business is organized and
Slide
79 run.
BBI 2O
Unit 1
Forms of Bus. Ownership
Sole Proprietorship
• Owned by one person, who
performs most roles and owns
everything
• Owner gets all profits, takes all
the losses → called unlimited
Slide
80 liability
BBI 2O
Unit 1
Forms of Bus. Ownership
Sole Proprietorship
• Easiest and least expensive to
set up
• Easiest for tax purposes →
income recorded under
personal income
Slide
81
BBI 2O
Unit 1
Forms of Bus. Ownership
Partnerships
• Two or more individuals share
costs and responsibilities
• Terms of partnership recorded
in partnership agreement
Slide
82
BBI 2O
Unit 1
Forms of Bus. Ownership
Partnerships
• Main advantage is working
relationship between partners,
usually they have
complementary talents
Slide
83
BBI 2O
Unit 1
Forms of Bus. Ownership
Partnerships
General partnership
• All partners have unlimited
liability (can be held
responsible for the other
partner’s business related
Slide
84 debts)
BBI 2O
Unit 1
Forms of Bus. Ownership
Partnerships
Limited partnership
• Partners have limited
liability (only responsible
for their share)
Slide
85
BBI 2O
Unit 1
Forms of Bus. Ownership
Corporations
• Business with a legal status
• Can be as small as one person,
or multinational
• Some owned by individuals,
Slide
families, small groups
86
BBI 2O
Unit 1
Forms of Bus. Ownership
Corporations
• Ownership often broken into
small units, shares, which are
sold through a stock exchange
(ie. TSX) → a publicly traded
corporation
Slide
87 • Those who buy: shareholders
BBI 2O
Unit 1
Forms of Bus. Ownership
Corporations
• Since there are many owners, a
board of directors runs corp.
• Shareholders have limited
liability, not responsible for
debts
Slide
88 • Get profits as dividends
BBI 2O
Unit 1
Forms of Bus. Ownership
Corporations
Private Corporation
• Only a few people control
stock
• Not publicly traded
Slide
89
BBI 2O
Unit 1
Forms of Bus. Ownership
Corporations
Public Corporation
• Sell shares to raise money
• 1 share = 1 vote; those with
most shares influence
Slide
company decisions (usually
90 orig. owner, execs)
BBI 2O
Unit 1
Forms of Bus. Ownership
Corporations
Crown Corporation
• Business owned by the
federal or provincial
government
Slide
Federal: VIA Rail, CBC
91
BBI 2O
Provincial: LCBO
Unit 1
Forms of Bus. Ownership
Co-operatives
• business owned by
workers/those who use it
• Run by board of dirs.
• Each member only gets 1 vote
Slide
• Profits shared based on use
92
BBI 2O
Unit 1
Forms of Bus. Ownership
Franchises
• A franchiser licenses the
rights to the business to a
franchisee for a fee
• Franchisee runs business
according to agreement
Slide
93 Examples: Subway, Quiznos
BBI 2O
Unit 1
Forms of Bus. Ownership
Franchises
• Franchisee also pays monthly
fee, has to purchase product
through franchiser, sometimes
gets trained by franchiser, has
to maintain uniform quality
Slide
94
BBI 2O
Unit 1
Forms of Bus. Ownership
HOMEWORK
• Chapter Review questions:
page 33, q #1, 4, 5, 6, 7, 8, 12
• CHAPTER 1 FORMATIVE
QUIZ TOMORROW
Slide
95
BBI 2O
Unit 1
Going into Business
Going into Business
(Skip this section in the textbook)
Slide
97
BBI 2O
Unit 1
International Business
Structures
Int’l Business Structures
There are various business
structures for companies looking
to expand their business outside
of Canada’s borders.
Slide
99
BBI 2O
Unit 1
Int’l Business Structures
Joint Ventures
Two businesses combine
skills/abilities to benefit both
parties.
Slide
100
BBI 2O
Unit 1
Int’l Business Structures
International Franchises
A company licenses itself to
business in another country to
start business in that country.
Slide
101
BBI 2O
Unit 1
Int’l Business Structures
Strategic Alliances
Agreements between
businesses where each business
commits resources to achieve a
common objective.
Slide
102
BBI 2O
Unit 1
Int’l Business Structures
Mergers
Two or more companies join
together to form one to create
greater benefit (sometimes
called a takeover, especially if
met with resistance).
Slide
103
BBI 2O
Unit 1
Int’l Business Structures
Offshoring
Relocating some of the
company’s resources to
another country, usually to
reduce operating costs and
expenses.
Slide
104
BBI 2O
Unit 1
Int’l Business Structures
Multinational Corporations
A company that does business
in several different countries.
Slide
105
BBI 2O
Unit 1
Int’l Business Structures
HOMEWORK
• Questions: pg 68, q #18, 20, 21
• Chapter Review: pg 69, q #2,
3, 5, 14
Slide
106
BBI 2O
Unit 1
UNIT 1: Business
Fundamentals
Chapter 3:
Business Ethics & Social
Responsibility
Bus. Ethics & Soc. Resp.
In your small groups:
• Read ―Kicking Horse Coffee
Co.‖, page 73-74.
• Answer questions 1 and 2
Slide
108
BBI 2O
Unit 1
Bus. Ethics & Soc. Resp.
What is ethical behaviour?
• Acting in a way that conforms
to social standards about what
is right and good
• Our values tell us what we
think is important, morals are
Slide
109 rules of what is good and bad
BBI 2O
Unit 1
Bus. Ethics & Soc. Resp.
What role should ethics play
in business?
Society’s Individual’s
ethics ethics
Business’s
Slide ethics
110
BBI 2O
Unit 1
Bus. Ethics & Soc. Resp.
What role should ethics play
in business?
• Many companies develop a
code of ethics explaining how
employees respond to different
situations
Slide
111
BBI 2O Tylenol, Chicago, 1982
Unit 1
Bus. Ethics & Soc. Resp.
How can businesses resolve
ethical dilemmas?
• An ethical dilemma is a moral
problem with potential right or
wrong answers
Slide
Values and Profitability and
112 morals? OR competitiveness?
BBI 2O
Unit 1
Bus. Ethics & Soc. Resp.
How can businesses resolve
ethical dilemmas?
• Some dilemmas: downsizing,
pollution, toxic waste disposal,
resource depletion, laws,
employee rights, product
Slide
113 safety, workplace safety…
BBI 2O
Unit 1
Bus. Ethics & Soc. Resp.
How can businesses resolve
ethical dilemmas?
Questions to ask to help resolve:
1. Who will be helped?
2. Who will be hurt?
Slide
114
BBI 2O
Unit 1
Bus. Ethics & Soc. Resp.
How can businesses resolve
ethical dilemmas?
Questions to ask to help resolve:
3. What are the benefits/
problems with this
decision?
Slide 4. Will the decision survive
115
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the test of time?
Unit 1
Bus. Ethics & Soc. Resp.
How can businesses resolve
ethical dilemmas?
• Whistleblowing: an employee
informing officials or public
about a legal/ethical violation
• False financial practices,
Slide
116 ignoring safety & health codes
BBI 2O
Unit 1
Int’l Business Structures
HOMEWORK
• Questions: pg 68, q #18, 20, 21
• Chapter Review: pg 69, q #2,
3, 5, 14
• Study for test Tuesday
Slide
117
BBI 2O
Unit 1
Bus. Ethics & Soc. Resp.
Fraud
• List 9 types of fraud into your
notes
Unethical Behaviour
Slide • Copy table 3.1 left column into
118
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your notes
Unit 1
Bus. Ethics & Soc. Resp.
Accounting Scandals
• Embezzlement: accountant or
senior executives create phony
accounts and direct money to
themselves
Slide
119
BBI 2O
Unit 1
Bus. Ethics & Soc. Resp.
Insider Trading
• Using information unavailable
to the public for your own
financial gain in the stock
market
• Investigated by securities
Slide
120 commission
BBI 2O
Unit 1
Ethics & Corporate Social
Responsibility
Ethics and C.S.R.
- CSR exhibited through values,
ethics, contributions to
community
Slide
122
BBI 2O
Unit 1
Ethics and C.S.R.
Providing a
Adopting fair Protecting
safe and
labour the
healthy work
policies environment
environment
CSR
Principles
Avoiding
Slide Being truthful Donating to
123 price
in advertising charity
discrimination
BBI 2O
Unit 1
Ethics and C.S.R.
Duty to report
• Corporations must disclose all
important information to
shareholders, business
partners, lenders, insurers,
communities, regulators,
consumers, employees, and
Slide
124 investigators
BBI 2O
Unit 1
Ethics and C.S.R.
Laws that Govern Corporate
Ethics
There are laws that govern how a
business can interact with others.
Slide
125
BBI 2O
Unit 1
Ethics and C.S.R.
1. Workplace Safety
In Ontario, the Occupational
Health and Safety Act (OHSA)
was instituted to ensure
workplace safety and health.
→ defines rights and
Slide
126 responsibilities of workers
BBI 2O
Unit 1
Ethics and C.S.R.
1. Workplace Safety
Workers have the right:
• to refuse unsafe work;
• to participate in H&S
activities; and
Slide
• to know about the hazards of
127 their workplace.
BBI 2O
Unit 1
Ethics and C.S.R.
2. Antidiscrimination Issues
Gender discrimination is less
of an issue. However, some
companies still discriminate.
Women or disabled workers
face a glass ceiling (invisible
Slide
128
barrier to promotions).
BBI 2O
Unit 1
Ethics and C.S.R.
3. Harassment
Refers to behaviour that is
threatening, disturbing, or
unacceptable. Businesses must
protect employees from this.
Slide
129
BBI 2O
Unit 1
Ethics and C.S.R.
4. Accessibility Issues
Businesses have a duty to
accommodate workers to
eliminate discrimination (it’s
in the Canadian Human Rights
Act). Help must be provided to
Slide
130
disabled employees.
BBI 2O
Unit 1
Ethics and C.S.R.
5. Environmental Responsibility
Because of several large
disasters in the 1980s and
1990s, Canada introduced the
Canadian Environmental
Protection Act in 1999.
Slide
131
BBI 2O
Unit 1
Ethics and C.S.R.
5. Environmental Responsibility
Some companies still don’t
comply—for some it is more
costly to comply than it is to
pay the fines.
Slide
132
BBI 2O
Unit 1
Ethics & Soc. Resp.
6. Labour Practices
In Ontario, the Employment
Standards Act establishes
conditions for employment.
→ hours of work, overtime
pay, minimum wage, holidays,
Slide
133 benefits, leaves, termination
BBI 2O
Unit 1
Ethics and C.S.R.
Fair Trade
A ―voluntary‖ ethical behaviour.
Fair trade is the practice of
helping producers in developing
countries bypass expensive
middlemen so they can sell their
Slide
134
goods for a fair profit.
BBI 2O
Unit 1
UNIT 1: Business
Fundamentals
Chapter 4:
International Business
What is International
Business?
What is Int’l Business?
A domestic transaction is the
selling of items produced in the
same country.
An international transaction is
the selling of items produced in
Slide
137 other countries.
BBI 2O
Unit 1
What is Int’l Business?
These transactions are referred to
as foreign trade. Foreign trade
contribues to the global economy.
International trade offers many
benefits to businesses.
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BBI 2O
Unit 1
What is Int’l Business?
Benefits
Access to Markets
• Canada: 32 million
• World: 6.5 billion
Easy for global product
Slide
producers, may be more difficult
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BBI 2O
for producers of other products.
Unit 1
What is Int’l Business?
Benefits
Cheaper Labour
• Standard of living and cost of
living lower in many other
countries, therefore lower
wages
Slide
140
BBI 2O
Unit 1
What is Int’l Business?
Benefits
Increased Quality of Goods
• Search the world for parts to
create the best possible
products for customers
Slide
141
BBI 2O
Unit 1
What is Int’l Business?
Benefits
Increased Quantity
• An increase in sales may mean
greater production, efficiency,
higher employment, expansion
of business
Slide
142
BBI 2O
Unit 1
What is Int’l Business?
Benefits
Access to Resources
• Find materials to build
products from around the
world
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143
BBI 2O
Unit 1
What is Int’l Business?
The Five Ps of Int’l Business
• Product
• Price
• Proximity
• Preference
Slide • Promotion
144
BBI 2O
Unit 1
What is Int’l Business?
Costs of Int’l Trade
• Offshore outsourcing
• Human rights issues and labour
abuses
• Environmental degradation
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145
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Unit 1
What is Int’l Business?
Barriers to Int’l Business
• Tariffs / custom duties
• Non-tariff barriers (prod. ban)
• Cost of importing/exporting
• Excise taxes
Slide • Currency fluctuations
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BBI 2O
Unit 1
BRAINSTORM
What are all the things that you
would serve at Christmas / Easter
dinner? List items.
Categorize items as:
• made in Canada
• made in Canada using
Slide
imported ingredients
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BBI 2O
• imported from another country
Unit 1
Flow of Goods & Services
Flow of Goods & Services
Balance of Trade
Relationship between imports and
exports
imports > exports = trade deficit
Slide
exports > imports = trade surplus
149
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Unit 1
Flow of Goods & Services
Importing: buying & shipping
something from a foreign country
Exporting: selling & shipping
something to a foreign country
Slide
150 Ideally, export > import… Why?
BBI 2O
Unit 1
Canada’s Major Trading Partners
$258B
$280B $370B
$369B
$11.6B
$11.2B $11.8B
$10.5B
$9.1B
$11.3B $9.7B
$14.2B
$25.3B
$19B
Slide
151 $29B
$35.3B
BBI 2O 2005 Figures, taken from the Statistics Canada website
Unit 1
Flow of Goods & Services
HOMEWORK
Questions: page 127, #6, 8, 10-12
Questions: page 133, #13, 14
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Unit 1
Canada and Int’l Trade
Agreements
Canada & Int’l Trade Agr.
• World Trade Organization
(WTO)
• North American Free Trade
Agreement (NAFTA)
• Group of Eight (G8)
• European Union (EU)
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BBI 2O
Unit 1
Canada & Int’l Trade Agr.
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155
BBI 2O
Unit 1
Canada & Int’l Trade Agr.
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156
BBI 2O
Unit 1
Canada & Int’l Trade Agr.
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BBI 2O
Unit 1
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