A.
What is Innovation?
1.
Def. - A new idea or
______________ advancement.
2.
Example – Records to 8-track tapes, 8-track tapes to audiocassettes,
audiocassettes to CDs.
B.
Results of Changing Technology
1.
________________________
a.
Small farms are becoming a thing of the ______.
b.
Fewer, but __________ farms now meet the food needs of the
2.
________________________
a.
Increasing ________________ by installing ___________________
equipment.
b.
What will happen in the _________________?
1)
Mfg. plants will be gigantic combos of robots, high technology and new
buildings?
or
2)
Mfg. plants will be smaller and make only specialized items?
3.
________________________
a.
Where do you like to shop?
1)
______________________
a) One-stop
_________________
b)
Combinations of supermarkets & discount stores.
c)
A wide ____________with many _______________.
2)
_________________ Specialty Stores
a)
_______________ services
b)
_______________ prices
4.
_____________ _____________
a.
_____________ ______________
1)
superior machines & surgical procedures
2)
patients spend less time in hospitals
b.
People are living __________ because of technological advancements.
1)
more medical care is required
2)
increased demand for professionals that provide home health care
services
(Health Care Crisis?)
C.
Businesses Must Be Aware of Future Consumer Desires
1.
Ask consumers what they think their demands will be by conducting
_____________.
2.
Situation: pg. 6 Item 1-1
II. Types of Businesses
A.
______________ _____________
1.
We live in a ____________
______________.
2.
Most people who work are providing a ___________.
a.
______________ food
b.
______________ goods
c.
______________ products
3.
Employment Examples:
a.
repair shops
b.
banks
c.
delivery services
4.
Service businesses are growing at _________ the rate of all other
business types (this trend is expected to_______________).
5.
What does this mean:
a.
to _____________ as they plan for growth?
b.
to _____________ and schools training workers?
6.
_______________ Businesses in the ___________:
a.
were not highly _____________
b.
were paid _________ wages
7.
Because of technological developments, service businesses now offer:
a.
____________ ____________:
instructions telling the computer what functions to perform to solve a
problem.
b.
_________________: Collection of
data available to allow fast and easy access to information.
c.
air transport
d.
financial planning advice
e.
______________ ______________:
making computers exhibit human behavior, __________ to learn and make
decisions.
8.
_______________ – the transfer between individuals or businesses of
something of ____________ (not actually
buying something).
9.
How many of your year 2020 desires could be provided by a service
business?
B. Manufacturing
1.
Def. - Taking _______ materials
and producing a _______________ product.
2.
The numbers of people working in a _____________ business are
________________;
a. however, they are producing ___________ profits than other
business types.
b. How is this possible?
3.
Because of _________________, Manufacturing Businesses are now able to
produce _________ goods in ________ time with _______ expense and ____________
workers.
4. Technology has produced:
a.
better _______________
b.
better _______________
c.
more ________________
5. Examples of goods produced:
a.
automobiles
b.
food
c.
home appliances
6. _____________ are used in production lines, do you think this
trend will continue?
7. Many _________________ companies are moving
into the ______________ sector because of the declining ___________ for mfg.
goods.
8. Something to think about:
pg. 10
C. ______________________
1. All activities involved in _______________ a
_______________ to the final consumer.
a. ___________________________
b. ___________________________
c. ___________________________
d. ____________________________________
2. Ways
of transportation:
a. _______________
b. _______________
c. _______________
d. _______________
e. ______________________________
3. Ability
to purchase goods grown around the ______.
4. ______________
- goods, services, or ideas and information produced for consumer or industrial
use.
5. A
direct sale is not practical; therefore, distribution businesses become
involved.
6. Example: A Box of Cereal
a. ____________ customers
b. Manufacturers can't deal with _______ customer individually
&____________.
c. Dist. Co. ________ _________ Mfg. Co.
d. Dist. Co. ________ _________ grocery stores
e. Consumers then make final purchase from
____________ __________.
7. Distribution
businesses get the product to you
________ you want it, ________you want it, and
in the _________you want it!!!
D. _________________
1. Extraction
companies withdraw _______ materials from the earth in preparation for changing
them into a _____________form consumers both want and need.
2. Examples
a. Farms b. Lumber Companies
c. Fisheries d. Oil Companies
III. Significant Changes Affecting Businesses
A. Today
almost no business can __________ the effects of ____________________ change.
1. Robots
are used in _______________.
2. Computers assist in ______________.
3. Computers are used in ______________ oil deposits.
4. Retailers use computer obtained information to __________ sales
months in advance.
5. Fisheries
use computer obtained information to ___________ movements of fish.
B. What
type of person are you?
1. Are you a _____________ or do you wait for others?
2. Businesses cannot afford to_________ , they must
____________trends that will affect their operations.
C. The
Growth of ________________ Businesses
1. There
are many _______ small businesses than large.
2. A
small business = ________ employees or
______.
3. Small
businesses _________ as much as ___ % of new jobs in the
4. Small
businesses generate over ______ of our Gross National Product (______)
a. GNP - the total amount of __________ and ______________ produced
in a nation during a year.
b. They create many of the same ____________ that larger businesses
create.
5. Most
careers are ____________ in small as well as large businesses.
6. Small
businesses are responsible for most of the _______ ________ and product
_______________:
a. _______________________
b. _______________________
7. Will
the trend continue?
a. There is no way to tell for sure.
b. The number of small businesses grow each year.
8. Major
__________________ of small business:
a. Creates many new ___________.
b. _______________ greatly to the GNP.
c. Gives us many _______ ideas & product innovations.
D. The
Changing ______________ of the Work Force
1. Businesses
try to ________ _________for year.
a. Number of workers needed?
b. Skills desired in workers?
2. Population has been growing at a ____________ rate and businesses
find it harder to ______ new workers.
3. Changing ____________ of the work force:
a. Jobs are __________________
b. Training programs are offered to draw people into
_____________________ jobs.
c. Working hours are _________________.
4. The
________________ of the Job Force
a. The majority of workers are expected to be ___________ and
________________.
b. Part-time jobs appeal to many groups with
different _____________ working hours.
1) _________ _________ ___________
2) __________-_____________
3) _______________
c. Experts estimate that two people will be working in ____ % of the
households in society (creating a need for ______ - __________ activities).
E. The
Increase In ____________________
1. _________________
- two or more business firms trying to sell to the same customer.
a. Greatest _____________ at the best _________.
b. Businesses ______________ for workers.
c. Retailers _______________ for your business.
2. ______________
vs. _______________Markets
a. ________________Market
1) All who are ___________ buyers of a product for _____________use.
2) Examples
a) sweater
b) ice cream cones
c) movies
b. ________________Market
1) All who are ______________ buyers for a
product for ________________,
__________, or _____________
use.
2) These are the people who ___________ in the manufacturing or
delivery of other products.
3) Examples
a) knitting machines
b) freezers
c) movie projectors
3. Competition today is ______ limited to the
areas around you.
a. It comes from ____ ___________the world.
b. What do you think about this?
c. Where do the products you purchase come from?
4. _______________
Competition
a. What would happen if the
1) Nearly all running shoes, sports, equipment and toys are made in
other countries.
2) All VCR's and over 25 % of all cars in the
b. Why would prices go up if we only purchased
products made in the
( )
c. What prompts consumers to buy products made
by one company instead of another?
1) ______________
2) ______________
F. The
Impact of ______________________
1. _______________
information came from:
a. friends
b. newspapers
c. questionnaires
d. internal records
2. ___________
businesses set-up specialized ________________ to collect information on:
a. _______________
b. _______________
c. _______________
d. employee _________
e. economic _________
f. new business opportunities
g. customer opinions
h. research
i. population
j. other areas focused on their particular business.
3. Storage _________ and the ________ of
computers:
a. Allow individuals and organizations to _______________ large
amounts of data.
b. Allow individuals and organizations to
__________________ data so
that it is useful.
G. Types of
Businesses Using Information
1. _____________________
a. Develop their information systems so that you can make
reservations _____________ having to talk an individual.
b. All arrangements can be made through a
_________________.
c. Computer systems must be ___________ to operate with
____________instruction.
2. ____________________ Businesses
a. To help
determine ____________, information is _________________ by their research and
from governmental publications.
b. Estimations
1) Only _____ the employees in a mfg. business are involved in the
actual manufacturing of a product.
2) Factories rely heavily on computers, 70% of a factory is _________________.
3. ___________________________
a. Widespread use of ________________ obtained by ________________
to assist workers.
b. Where used:
1) ____________________ (Electronic device linked to a computer to
_______ information with a _______ beam.)
2) __________ machines
3) Video Machines used for mapping &
advertisement.
4. _____________Stores
a. Scanners are used to:
1) Automatically _______ items you purchase.
2) Provide you with a receipt.
3) Furnish the __________ with ___________
information on the items sold.
b. The Limited, Inc.
1) Businesses included:
|
The
Limited |
Express |
|
Victoria
Secret |
Lerner |
|
Lane
Bryant |
Abercrombie
& Fitch |
2) Each business _________ daily sales to the company.
3) Orders are ____________by satellite to
suppliers taking only ____ days, when it takes other organizations ____ months.
c. Item 1 - 6 pg. 19
H. Types of
Information
1. _______________- A collection of data
available to a computer system in such a way to allow _______ and _________
____________ to their information.
a. Databases make the compilation of data (____________ facts)
practical.
b. Compiled information is kept _______________
enough to be valuable.
c. _______________ databases are able to
provide information (________________data).
1) stock market prices
2) airline schedules
3) tickets for entertainment events
d. A powerful computer is necessary to process this data
(____________ &_______________).
e. For a small price, any business can have
_____________to large databases that process data ____________ and
_______________ making additional information _____________ to decision makers.
I. Computers
in the ___________ _____________
1. More
businesses utilize computers today because they are more ____________ &
more ____________.
2. Two of the most common uses in
businesses:
a. payroll processing
b. word
processing.
3. ____________Surveys - computers are able to
___________ & __________ information that is helpful to make business
______________.
J. Organized
Data
1. It is very important to a business that all
data is ____________________ in a way that is useful.
2. How a business transforms useful information
can _________________
its success.