https://padlet.com/achiem/blljjabudxujorfz What I learned throughout the semester. en-us 2023-05-16 01:36:05 UTC 2025-11-30 13:55:08 UTC hello@padlet.com achiem https://padlet.com/achiem/blljjabudxujorfz/wish/2592167270 I learned that businesses need to adapt to the ever-changing market. Businesses and not-for-profit organizations seek to provide goods and services to accomplish a goal. They also affect the economy and can help define the standard of living and quality of life of those who live in a particular country, such as consumers and employees. Organizations get impacted by outside influences such as economic systems, political or legal restrictions, demographic, technology, global, social, and competition. There are also different markets that businesses can or cannot participate in because of government regulations or specialization. ]]> 2023-05-16 01:48:21 UTC https://padlet.com/achiem/blljjabudxujorfz/wish/2592167270 achiem https://padlet.com/achiem/blljjabudxujorfz/wish/2592182004 Businesses should make ethical decisions and be socially responsible because it affects their employees, consumers, resources, and reputation. It is a guideline they must follow and encourages them to make better decisions for themselves and the company. However, there are responsibilities they must accomplish before becoming socially responsible. They must meet their economic, legal, and ethical concerns before becoming philanthropists. Thus businesses impact their communities, and a good reputation benefits them and the consumer.]]> 2023-05-16 01:57:56 UTC https://padlet.com/achiem/blljjabudxujorfz/wish/2592182004 achiem https://padlet.com/achiem/blljjabudxujorfz/wish/2592184446 I learned that the global market affects businesses and can provide many new opportunities. Countries can offer their specialized goods and services to others, thus encouraging trade. However, there can be barriers put in place to protect or prevent changes in prices, competition, or breaches in security. Trade between countries can define countries' relationships with each other. It can encourage communication and teamwork, benefiting nations economically and politically. ]]> 2023-05-16 01:59:39 UTC https://padlet.com/achiem/blljjabudxujorfz/wish/2592184446 achiem https://padlet.com/achiem/blljjabudxujorfz/wish/2592185236 I learned that there are different types of business ownership that all have their benefits and drawbacks. The primary forms of ownership are sole proprietorships, partnerships, and corporations, while specialized forms are cooperatives and joint ventures. Franchises have become popular over the years, where the franchisor supplies the product or service concept, and the franchisee sells the goods or services in a specific area. Business owners must decide whether to do it alone or with someone else and how to operate. It depends on finding the best fit for that particular company. ]]> 2023-05-16 02:00:13 UTC https://padlet.com/achiem/blljjabudxujorfz/wish/2592185236 achiem https://padlet.com/achiem/blljjabudxujorfz/wish/2592187982 Entrepreneurship means seeking out new opportunities and finding ways to solve problems. Recently, small businesses have been driving the United States' economic growth, and being one's boss has become more appealing. It attracts anyone, no matter their gender, age, or ethnicity. However, successful entrepreneurs share common characteristics such as ambition, creativity, commitment, risk-taking, and independence. Starting a business requires time, ideas, research, planning, and finances. ]]> 2023-05-16 02:02:07 UTC https://padlet.com/achiem/blljjabudxujorfz/wish/2592187982 achiem https://padlet.com/achiem/blljjabudxujorfz/wish/2592190266 Managing a business requires good communication skills, planning, organizing, leading, and controlling. Managers are responsible for a company's effectiveness and efficiency. They operate at different levels of the organization, such as supervisory, middle management, and top management. Leadership also drives and motivates a business as they influence the behavior of those around them. There are a variety of leadership styles ranging from autocratic to free-rein.  ]]> 2023-05-16 02:03:41 UTC https://padlet.com/achiem/blljjabudxujorfz/wish/2592190266 achiem https://padlet.com/achiem/blljjabudxujorfz/wish/2596648438 Human resources management is responsible for hiring, developing, motivating, and evaluating employees to meet the company's goals. They must be able to provide the necessary resources to support workers. Labor relations such as unions represent employees against management over disputes about wages, hours, and working conditions. The relationship between the two is in three main phases union organizing, negotiating a labor agreement, and administering the settlement. Overall, the goal is for the employees to receive fair treatment and pay.]]> 2023-05-18 18:45:03 UTC https://padlet.com/achiem/blljjabudxujorfz/wish/2596648438 achiem https://padlet.com/achiem/blljjabudxujorfz/wish/2596649184 Operations management oversees many processes within a business, such as production, and must make it efficient as possible. Efficiency is vital as they must minimize costs and maximize their profits. They must choose between three decisions made at three different stages. The stages are production planning, control, and improving production and operations. They search for better ways to benefit their company and save on limited resources.]]> 2023-05-18 18:45:59 UTC https://padlet.com/achiem/blljjabudxujorfz/wish/2596649184 achiem https://padlet.com/achiem/blljjabudxujorfz/wish/2596650935 Marketing is vital in appealing to a good or service to a particular audience. Marketers must find the needs and wants of consumers to cater to them. Products get separated into unsought, convince, shopping, and specialty products. It uses the amount of effort a customer spends on them. The price is fundamental as it helps determine how much a firm earns and how it appeals to consumers. ]]> 2023-05-18 18:48:01 UTC https://padlet.com/achiem/blljjabudxujorfz/wish/2596650935 achiem https://padlet.com/achiem/blljjabudxujorfz/wish/2596651563 The distribution channel must efficiently manage the raw materials and movement of products. It involves marketing intermediaries such as agents and brokers, industrial distributors, wholesalers, and retailers. The process of distribution can depend on the type of business. However, one of the primary goals is to minimize the number of transactions from manufacturers to consumers. Products that get distributed must also get promoted to better appeal to buyers.]]> 2023-05-18 18:48:44 UTC https://padlet.com/achiem/blljjabudxujorfz/wish/2596651563 achiem https://padlet.com/achiem/blljjabudxujorfz/wish/2596651928 Finances and accounting are crucial to know when operating a business as it provides the framework for evaluating its past, present, or future performance. It includes the company's profits, employees' wages, and costs. For example, there are two types of financial reports, internal and external. Internal or managerial accounting focuses on those working in the business and can be used to plan and budget projects and make decisions. While external or financial accounting is for those outside the company, like investors who do not manage the company.]]> 2023-05-18 18:49:09 UTC https://padlet.com/achiem/blljjabudxujorfz/wish/2596651928 achiem https://padlet.com/achiem/blljjabudxujorfz/wish/2596652166 Business can apply to many careers, and choosing one can help me understand my goals. Interpersonal skills are fundamental to the workplace, such as communicating with others, handling conflict, persuasion, and working as a team. Planning is vital as it prepares you to accomplish your goals and manage your time. Concentration is one of the key factors as it helps you stay productive while you work. A positive mindset can also help you feel more successful and appealing to employers. ]]> 2023-05-18 18:49:25 UTC https://padlet.com/achiem/blljjabudxujorfz/wish/2596652166