Main idea: Short and Long-term needs of businesses can be financed in a variety of ways
Financing Cost-benefit analysis Revenues profits
Why is financing important to the free enterprise system? How does depositing funds in a financial institution benefit businesses? Why do businesses perform a cost-benefit analysis? What steps does a cost benefit analysis involve?
Main idea: Learn more about the financing options from which businesses may choose
Debt financing Short-term financing Intermediate-term financing Long-term financing
What are the three categories of debt financing? What kinds of businesses benefit from short term financing? Why would someone need intermediate term financing? Why would a business need long term financing? What should financial managers examine before obtaining financing?
Main idea: Learn about the steps in the production process
Production Consumer goods Mechanization Assembly line Division of labor Automation robotics
What does producing consumer and capital goods involve? What does planning include? What does people who purchase goods for a business have to decide? What 5 major advances in technology have drastically affected the methods and cost of production?
Main Idea: Marketing includes: research, advertising, promotion, and distribution.
Marketing Consumer sovereignty Utility Market research Market survey Test-marketing
What is the sole purpose of marketing in today’s society? List and describe the 4 types of utility What data do companies gather through market research? Why do researchers test-market a product?
Main Idea: Marketing Strategies includes: product, price, place and promotion.
Price leadership Penetration pricing Promotion Direct-mail advertising Product life cycle
What do the four Ps of marketing mean? ◦ Product: ◦ Price: ◦ Place: ◦ Promotion:
Main Idea: There are various routes through which goods are moved
Channels of distribution Wholesalers Retailers E-commerce
What do wholesalers do? What do retailers do? What has helped distribution channels grow in the last years?