WEDNESDAY 9/19

IC101
Today: We FINALLY finished up our introduction presentations. Nice job to everyone; I was impressed. Also nice job to those of you who were able to stump us with the 5 statements. No thanks to Sleepy for always leading me in the wrong direction.

Homework: Be ready to discuss the following:
A) One goal you set for yourself and you were able to achieve, & one goal you set and you were not able to achieve.
B) One obstacle for each of your 6 goals that we discussed on Monday.

IC212
Today: We learned that it is not fun to get assaulted with a taser gun. We also discussed Chapter 11 and focused our discussion on 2 ares: 1) Market Focus & 2) Top Management. We talked about how "market" is a business term for customers, and that in order to be effective a business needs to listen to its customers, deliver to them what they want, and be willing to adapt & change. We talked about how the computer, Xerox photocopier and Air Jordan sneakers are all examples of products that were successful in new markets that they were not originally intended for. We also discussed Top Management and the group decided that the need for an effective Top Management is critical to the success of a business. Drucker states that:
-A top management team must be built before a company actually needs one
-Forming a top management team is a long process that can't be done overnight
-Top management must focus on 2 key activities:
1) Management of people
2) Management of money

Homework: Quiz #2 based on Chapters 9, 10, 11, 15 will take place. See the study guide below. Also, please bring in 1, 2, 3 or as many ideas as you have for your research topic. I want to use the time in class to get everyone focused on a research topic.

Quiz Study Guide
-What is the Peter Principle? (9)
-What are the 4 basic principles when making people decisions? (9)
-What are the 5 decision steps when making effective promotion & staffing decisions? (9)
-What are the 3 "Don'ts" that entrepreneurial management of an existing business should not do? (10)
-What are the 2 key activities present in in all organizations (11)
-Businesses must realize that its product/service is defined by who? (11)
-As an individual in a business the first thing to know about how you perform is to determine if you are what? (15)