business week 1
business week 1
Terms
undefined, object
copy deck
- What are Miller's 5 M's
- 1. Motivation 2. Money 3. Marketing 4. morals 5. mob
- Protestants
- work hard to earn money and get closer to god, but if you had alot of money dont show it.
- What do bacan and Thoreau have to say about the motivation for reading and learning and how does that relate to this course?
- Both said to read to question and stimulate and relates to course cause makes us learn how to think
- what is the latin root of salary?
- salt
- Henry David Thoreau
- wrote "Walden". read well and read in the mother tounge. must owrk laboriously to seek meaning of writings. stressed the idea of simplicity.necessities, 1. food 2. shelter 3. clothing 4. fuel
- Demand relationship
- lower (upper) quanity + lower (upper) price = lower (upper) demand
- Columbus
- columbus is like the CEO and ferdinand and isabella are the shareholders and investors
- Who are the biggest cheats of all graduate students?
- MBA students with 56 per cent cheating, and are they only ones required to take an ethics course
- value
- due to larger size(volume), equals more growth (vol, rev, profit). sacrcity=high value
- how did baucis and philemon stand in faust's way?
- would not move off of the private land
- free market
- a market wher price is determined by the unregulated interchange of supply and demand frather than set by artificial means.
- Supply
- lower (upper) quanity + lower (upper) price = lower (upper) supply
- what motivated faust
- power, noble development
- What did Georg Hegel write? what is he best know for?
- Wrote "phenomenology of the Mind", and developed the theis/antithesis approach, to comine the two and find a synthesis
- Francis Bacon
- wrote "of studies". very concerned about reading. reading makes a full man. read to question and stimulate thinking
- commerce
- exchange of something of value between two entities and requires markets.
- what are the three things you need for a business?
- land, people, and capital
- what motivated columbus and his men
- money and converting people and greed
- what happened to Baucis and Philemon and how did Faust fell about it?
- they died, and he felt bad
- public companies/management
- reports to board of directors (BOD). BOD responsible for overseein owners, the shareholder, interest. Management's ultimate responsibility is to increase shareholder value.
- capitalism
- unencumbered pursuit of wealth. infinite profits, infinite growth, maximum self interest
- Who came up with indulgences? what are indulgences?
- John Tetzel/a forgivness of a sin by the catholic church
- Faust
- belives in two hearts, one material and one spiritual. wanted both persoanal and social development.
- who lead reformation?
- Martin Luther
- Explain capitalism
- capitalism is linked to markets, markets linked to government, then capitalism lined to government
- market
- the process of buying and selling
- Laissez-faire
- French for "let things alone." Adam Smith agrees with this idea.
- what are the four p's or marketing
- 1. Price 2. Place. 3. Promotion. 4. Product
- Satutory Law
- dont show off money