Principles of Business

Fall Semester Finals Study Guide

Topic Sources What You Should Know and Be Able to Do
Unit #1 ● Business Management
● Notes from Lecture
Personality Identify the key characteristics of each of the 8 Myers-Briggs
● 16personalities.com
Types Personality Codes (Introvert/Extrovert, etc.)
● Schoology Assignment
● Textbook pgs. 69-77
Types of ● Notes from Lecture
Explain the characteristics, advantages, and disadvantages of
Business ● Schoology Assignment
each of the types of business ownership
Ownership ● Tower Reflection
● Business orgs
● Textbook pgs. 126-129
Organizational Understand organizational structure concepts such as org
● Notes from Lecture
Structure charts, chain of command, and functional vs. matrix
● Mark's Organization
● Notes from Lecture Correctly name each component of the SMART goal. ***We
● Schoology Assignment did not use the version in the textbook – ONLY refer to your
SMART Goals notes for this***
If given a SMART goal be able to identify each of the
components in it. Be able to write a SMART goal.
● Notes from Lecture Be able to explain each of the stages of team development
Tuckman
● “Remember the Titans” including key characteristics of a team at that stage of
Model of Team
● Schoology Assignment development. If given a description of a team, be able to
Development
identify which stage of the Model they are in.
● Textbook pgs. 136-137
Conflict Be able to identify and explain the stages of Conflict
● Notes from Lecture
Resolution Resolution IN ORDER.
● Schoology Assignment
● Textbook pgs. 132-134
Leadership Explain the 3 Leadership Styles. Match the management
● Notes from Lecture
Styles theories with the Leadership styles.
● Schoology Assignment
● Textbook pgs. 129-131 Explain what a manager would be doing for each of the
Management ● Notes from Lecture Management Functions. If given a description of the work a
Functions ● Schoology Assignment manager is doing, be able to identify which function of
management they are working on.
● Textbook page 172
● Notes from Lecture
(video)
Define Corporate Culture and be able to identify how it is
● Slides 1
developed. Given a clip of a corporation, be able to identify
Culture ● Corporate Culture Video
what policies and/or practices are in place to
Assignment (on
support/establish its culture.
Schoology)
● “The Intern” reflection
questions (On Schoology)
Unit #2 ● Economics
● Textbook pgs. 6-7
Define and understand the difference among these elements.
Needs, Wants, ● Notes from Lecture
Give examples of each.
Goods,Services ● Schoology Assignment
● Collage
● Textbook pgs. 10-11
Factors of Define and understand the differences among the 4 factors of
● Notes from Lecture
Production production. Give examples of each.
● Schoology Assignment
 Decision ● Textbook pgs. 11-12
Define and understand the basic economic problem: scarcity.
Making, Trade ● Notes from Lecture
List (in order) and describe the steps in the decision making
Offs & ● Schoology Assignment
process. Define and understand the difference between
Opportunity
trade-offs and opportunity costs. Give examples.
Costs
● Textbook pgs. 12-14 List and describe the 4 economic systems. List the 3 economic
Economic
● Notes from Lecture questions each system faces, and how each system answers
Systems
● Schoology Assignments those questions.
● Textbook pgs. 24-30
Define and calculate GDP and its subcomponents. List and
Economic ● Notes from Lecture
describe the other key economic indicators from your
Indicators ● Econ. Indicators Simple
reading.
● Other Econ. Indicators
● Textbook pg. 15
Supply & ● Notes from Lecture Define and understand supply and demand. Be able to graph
Demand ● “Monsters, Inc.” supply and demand, and identify the equilibrium point.
● Schoology Assignments