https://padlet.com/chaoyang9119/95ovsy0xs4b9fjvk en-us 2023-05-21 23:25:43 UTC 2023-05-27 03:24:35 UTC hello@padlet.com chaoyang9119 https://padlet.com/chaoyang9119/95ovsy0xs4b9fjvk/wish/2599103355 While reading this chapter, I realized how leadership played an important role in maintaining an ethical business. This article explains, "Formal and informal mentors alike should be encouraged to discuss ethics and moral character with their protégés. By developing strong, trusting relationships, mentors can bring their vast experience to bear on the ethical learning of others." I reflected on my own experiences while working at McDonald's and saw how true this message was. As a new employee, I would learn from my managers about how to handle situations and solve problems ethically.]]> 2023-05-21 23:27:46 UTC https://padlet.com/chaoyang9119/95ovsy0xs4b9fjvk/wish/2599103355 chaoyang9119 https://padlet.com/chaoyang9119/95ovsy0xs4b9fjvk/wish/2599103433 The pandemic broke the daily patterns and routines of many people's jobs. This gave them more time to spend on their personal lives and gave them space to reflect on their job satisfaction. I think this is one of the main causes of the Great Resignation. Another change caused by the pandemic was how it forced some people into remote work. Working from home was always seen as a luxury for most people and if companies start forcing people to work on location again, I think the resignation trend will continue.]]> 2023-05-21 23:27:58 UTC https://padlet.com/chaoyang9119/95ovsy0xs4b9fjvk/wish/2599103433 chaoyang9119 https://padlet.com/chaoyang9119/95ovsy0xs4b9fjvk/wish/2599104029 I think that globalization is good for the economy of participating nations. Statistics about GDP have shown that countries that engage in globalization experience growth greater than expected. The main issue I have heard surrounding globalization is the outsourcing of jobs and how it can hurt the economy of developed nations. However, in the grand scheme of things, the opposite is true. Globalization disproportionately benefits developed countries. One issue that was not on my mind was how this can impact sustainability and the environment. The video from crash course highlights how unsustainable the consumption caused by globalization is.]]> 2023-05-21 23:29:10 UTC https://padlet.com/chaoyang9119/95ovsy0xs4b9fjvk/wish/2599104029 chaoyang9119 https://padlet.com/chaoyang9119/95ovsy0xs4b9fjvk/wish/2599104116 Out of all the types of business ownership, the most appealing one to me is sole proprietorship. Other types of business ownership may offer greater revenue or stability, but they come with high startup costs. Sole proprietorship make up 72 percent of business organizations and it is unsurprising due to its low cost and ease of access.]]> 2023-05-21 23:29:24 UTC https://padlet.com/chaoyang9119/95ovsy0xs4b9fjvk/wish/2599104116 chaoyang9119 https://padlet.com/chaoyang9119/95ovsy0xs4b9fjvk/wish/2599104353 I do not have any particular business ideas and the entrepreneur lifestyle seems too rocky for me; however, if I were to start my own business it would be online. I hadn't looked into previously, but this video was able to give me a good overview of the types of businesses that I can create online. It seems that service-based services offer the most amount of revenue.]]> 2023-05-21 23:29:54 UTC https://padlet.com/chaoyang9119/95ovsy0xs4b9fjvk/wish/2599104353 chaoyang9119 https://padlet.com/chaoyang9119/95ovsy0xs4b9fjvk/wish/2599104525 There are three types of managers: Top management, middle management, and supervisory management. Each manager operates on different levels but has similar tasks of planning, organizing, leading, and controlling. This article outlines several skills that managers should have and the one that stands out to me is communication. Having good communication is crucial for all managers as they need to lead groups of people.]]> 2023-05-21 23:30:14 UTC https://padlet.com/chaoyang9119/95ovsy0xs4b9fjvk/wish/2599104525 chaoyang9119 https://padlet.com/chaoyang9119/95ovsy0xs4b9fjvk/wish/2602562339 Unions and collective bargaining are some of the main processes of labor relations. Although union membership rates have been decreasing, it is still an important avenue that connects employees with employers. The benefits of unions include giving more negotiation power to employees, higher pay, and more job security. Unions also come with some drawbacks such as having to pay union fees and a system that rewards seniority instead of merit.]]> 2023-05-24 02:38:06 UTC https://padlet.com/chaoyang9119/95ovsy0xs4b9fjvk/wish/2602562339 chaoyang9119 https://padlet.com/chaoyang9119/95ovsy0xs4b9fjvk/wish/2602562549 Operations management is key for a business to run efficiently.  It addresses issues such as cost reduction and customer satisfaction. One effective method of operations management is the Sigma Six program. The main focus of Sigma Six is quality control. This is done through processes such as defining, measuring, analyzing, improving, and controlling. ]]> 2023-05-24 02:38:15 UTC https://padlet.com/chaoyang9119/95ovsy0xs4b9fjvk/wish/2602562549 chaoyang9119 https://padlet.com/chaoyang9119/95ovsy0xs4b9fjvk/wish/2602563917 Marketing is not limited to advertising but also includes the process of identifying the needs of customers. Marketing has the purpose of delivering the right goods and services to the right people. The article above states that marketing is made of the four P's: Product, price, place, and promotion. Product refers to making goods and services that meet the needs of customers. Price refers to having reasonable prices and production costs. Place refers to the distribution of the product. Finally, promotion refers to various marketing strategies such as sales and sponsorships.]]> 2023-05-24 02:39:08 UTC https://padlet.com/chaoyang9119/95ovsy0xs4b9fjvk/wish/2602563917 chaoyang9119 https://padlet.com/chaoyang9119/95ovsy0xs4b9fjvk/wish/2602564196 Because of the pandemic, distribution of products has become a concern for many businesses. Without the ability to distribute products on location, many businesses turned to online selling. Online sales fall into three categories: direct sales, indirect sales, and multi-channel sales. From direct sales, businesses are responsible for the storage and delivery of the products. Indirect sales, on the other hand, involves placing orders from wholesalers or retailers. Multi-channel sales combines aspects for direct and indirect sales to deliver products to customers.]]> 2023-05-24 02:39:19 UTC https://padlet.com/chaoyang9119/95ovsy0xs4b9fjvk/wish/2602564196 chaoyang9119 https://padlet.com/chaoyang9119/95ovsy0xs4b9fjvk/wish/2602564538 Accounting is important as it breaks down information into actions that businesses should take. The video offers a simple definition of accounting in that it uses the past to take action in the present to change the future. There are three main areas of accounting. Bookkeeping is important for systemically collecting data. Financial accounting, in which income statements, balance sheets, and cash flow is collected for outsiders. Managerial accounting, which contains strategic information such as pricing and competition. ]]> 2023-05-24 02:39:32 UTC https://padlet.com/chaoyang9119/95ovsy0xs4b9fjvk/wish/2602564538 chaoyang9119 https://padlet.com/chaoyang9119/95ovsy0xs4b9fjvk/wish/2602564956 I am still not sure what my career in business would look like but this video breaks down several popular careers and what their work-life would be like.]]> 2023-05-24 02:39:48 UTC https://padlet.com/chaoyang9119/95ovsy0xs4b9fjvk/wish/2602564956