INSTRUCTOR’S MANUAL for
Better Business Second Canadian Edition MICHAEL SOLOMON MARY ANNE POATSY KENDALL MARTIN JEFF SHORT SANDRA WELLMAN KERRI SHIELDS
Revised for the second Canadian edition by David Gaudet SAIT
Better Business, Second Canadian Edition
TABLE OF CONTENTS Preface ....................................................................................................................................................................... iii Annotated Syllabus for a 14-Week Course............................................................................................................ vi Video Library .......................................................................................................................................................... xiv Chapter 1 -- Business Fundamentals .....................................................................................................................1-1 Chapter 2 -- The Environment of Business ...........................................................................................................1-1 Chapter 3 -- Economics and Banking ....................................................................................................................2-1 Chapter 4 -- Entrepreneurship, Small Business, and New Venture Creation .................................................2-1 Chapter 5 -- Business Management .......................................................................................................................3-1 Chapter 6 -- Motivation and Teamwork ...............................................................................................................4-1 Chapter 7 -- Human Resource Management .......................................................................................................5-1 Chapter 8 -- Marketing and Consumer Behaviour..............................................................................................6-1 Chapter 9 -- Marketing Mix: Product, Price, Promotion, and Place .................................................................7-1 Chapter 10 – Operations Management: Goods and Services .............................................................................8-1 Chapter 11 – Financial Management and Accounting .......................................................................................9-1 Chapter 12 – Global Business ...............................................................................................................................10-1 Media Assets Guide (Business Today Videos and BizSkills Simulations) ....................................................11-1 Online Appendix 13A – Securities and Investments ........................................................................................ A-1 Online Career Skills – Ten Easy Rules for Academic Success and Beyond .................................................1W-1 Online Career Skills – Constructing an Effective Business Plan ...................................................................5W-1 Online Career Skills – Business Communications ..........................................................................................6W-1 Online Career Skills – Finding a Job .................................................................................................................8W-1 Online Career Skills – Personal Finance .........................................................................................................13W-1
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Better Business, Second Canadian Edition
PREFACE This Instructor’s Manual to support the 2nd Canadian Edition of Better Business, by Solomon, Poatsy, Kendall, Short, Wellman, and Shields, provides a guided tour of each chapter and contains features to help you facilitate your course. This includes a detailed outline of chapter topics; suggested solutions to chapter discussion questions and exercises; and comprehensive notes on each chapter’s MyBizLab resources. In addition to the in-text material, the Instructor’s Manual also supplies supplementary materials, such as in-class “ice-breakers”, group exercises, additional discussion questions, and unique, compelling suggestions for learning activities which encourage the student to dig deeper in their understanding of chapter material through independent research and investigation. The manual provides clear, concise direction on how to best use these supplemental exercises in the traditional classroom setting, but also provides suggestions on how facilitators can enhance the online learning environment. The Instructor’s Manual offers the following features for each chapter: •
Chapter Opener: A brief introduction to the material covered in the chapter.
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Learning Objectives: A list of the learning objectives for the chapter.
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Key Terms: Includes page references to the definition of each key term.
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Detailed Topic Outline: A point-form summary of the topics covered in each section.
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Suggested Solutions to Discussion Questions: This section contains suggested solutions to the discussion questions from each chapter’s Opening Discussion and various feature boxes, including On Target; Off the Mark; Better Business, Better World; and BizChat.
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In-Class Activities: This section begins with a table that summarizes the selection of activities, both in-text and supplementary, available for classroom use as “ice-breakers” or to encourage student discussion/participation. To assist instructors in planning their time, the Bloom’s Taxonomy classification and an estimated time requirement for each activity has been provided. In some cases, handouts are necessary—these are also provided in this section.
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Suggested Solutions to End-of-Chapter Questions: Contains suggested solutions or teaching notes for end-of-chapter material, including Critical Thinking Questions, Team Time, Ethics and Responsibility, and the Closing Case.
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Supplemental Material: includes supplemental Critical Thinking Questions, Application Exercises, BizChat features, Discussion Questions, On Target features, and more. Suggested answers are also provided where applicable.
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MyBizLab Resources & Teaching Tips: Please note that not all chapters include all of the following resources. The manual provides teaching tips for the following MyBizLab resources: •
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Business Today Videos: To access the current video library, go to “Business Today” under Instructor Tools. This is where you can find videos and other video resources throughout your semester. The Videos Appendix at the end of the syllabus lists the videos and BizSkills
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simulations that are available by chapter. •
BizSkills Simulations: includes a synopsis of each chapter’s BizSkills simulation, as well as a list of questions that students should be able to answer after completing the activity. A great way to use these BizSkills is to assign them as homework before your first lecture on the chapter. Ask students to print out their feedback page, and then have them do the BizSkill again at the end of the week to see whether their scores have improved. Throughout the simulation, students can refer to several resources, all of which can be emailed, saved, or printed when the simulation is complete: i. Mini Quiz: Enables students to test themselves on content related to the BizSkill. ii. Summary Sheet: Presents students with a list of the key points made in the BizSkill. iii. Glossary Review: Allows students to review key terms presented in the BizSkill. Key terms are tied directly to chapter content. iv. Output Document: a summary of the entire simulation, including the simulation description, the student’s decision overview, and a list of skills/core business concepts.
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Decision-Making Mini-Simulations: To access this resource, open the “Student Resources” folder, and then click on Decision-Making Mini-Simulations. These self-paced simulations walk students through key business decision-making scenarios to help them understand how business decisions are made. At each point, students receive feedback to help them understand the implications of their choices in the business environment. The IM includes a list of the simulations and a list of questions that students should be able to answer after completing the simulation.
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Learning Catalytics In each chapter of the IRM you will find two Learning Catalytics questions that have been correlated to that chapter. You can access the interactive questions by connecting to the Learning Catalytics site through the MyBizLab home page. Learning Catalytics is a “bring your own device” student engagement and assessment activity that helps instructors to guide their lecture, generate classroom discussions with students, and promote peer-to-peer learning with real-time analytics. To access Learning Catalytics, students bring their devices to class, and then input the login code provided by the instructor. Instructors release questions, and students answer in real time. The results are aggregated and help direct class discussion and/or assessment. They can also be saved for a more detailed analysis after class.
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Document Makeovers: Document makeovers are interactive tasks which require students to analyze and correct business documents such as e-mail messages, letters, memos, blogs, and resumés. A list of document makeovers for each chapter is included in the IM. To access this resource, open the “Student Resources” folder, then click on Document Makeovers.
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Career Skills Modules: The online Career Skills modules are concise, engaging lessons that cover topics of interest and importance to students as they prepare for careers in the business world. Career Skills cover such topics as academic success, effective business plans, business communication, finding a job, and personal finance.
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Enhancing the Online Course: This section provides teaching tips to enhance your online course, including suggestions for group projects, individual assignments, and research activities in an online environment.
Additional Instructor Resources Better Business includes an innovative supplement package for instructors. You can access these resources from within MyBizLab or from the Instructor’s Resource Centre (IRC) at http://catalogue.pearsoned.ca/ INSTRUCTOR RESOURCE Image Library The Image Library contains image files for all figures, photos, and tables from the textbook, online Appendix 13A, and the online Career Skills modules. The Image Library is available on the IRC. PowerPoint Presentations Each chapter presentation includes twenty-five to thirty high quality slides. The PowerPoint Slides highlight key points from the text and are fully customizable. The slides are available on both MyBizLab and the IRC. Computerized Test Bank and Test Item File Pearson's computerized test banks allow instructors to filter and select questions to create quizzes, tests or homework. Instructors can revise questions or add their own, and may be able to choose print or online options. The Better Business Test Bank contains multiple-choice, true/ false, short answer, and essay questions—approximately 150 questions in total per chapter. Questions and tests can all be authored online, allowing instructors ultimate flexibility and the ability to efficiently manage assessments at any time, from anywhere. A Test Item File in Microsoft Word® is also available. The Computerized Test Bank and TIF files can be downloaded from the IRC. Business Plan Project This project walks students through the steps of how to create a clear and successful business plan. The instructor notes for this project are available in MyBizLab, under “Instructor Resources”.
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