What We Talked About in Class

Discussion on the history of management, the industrial revolution, Frederick Taylor, scientific management, Henry Fayol, and Max Weber

Discussion of globalization, importing and exporting, licensing and franchising, outsourcing and offshoring, and barriers to trade.

Discussion on the end of chapter two (managerial decision-making) and part two of the lecture series, Let’s Talk About Money, where we discuss the books, The Richest Man in Babylon and Rich Dad, Poor Dad, along with discussion on credit and credit cards.

We discussed economic factors, production, command and free markets, and supply and demand.

Continued discussion of the decision-making process, barriers to effective decision-making, and leading into next classes discussion on improving decision-making, logical fallacies, and ethical decision-making.

Brief introduction to the economic environment, discussion of Adam Smith, the invisible hand theory, and opportunity cost.

We discuss the first part of chapter two on the characteristics of managerial decision-making, the two systems of decision-making, and programmed and non-programmed decisions.

In this episode we discuss the features and uses of money, a brief history of money, the value of saving and investing, and inflation.

We discussed chapter one, why studying business is important, for profit vs. non-profits, the four factors of production, the areas within an organization, the stakeholders of an organization, and environmental factors that impact business.

Discussion on management and performing with the inclusion of roles for managers, such as informational, interpersonal, and decisions.