Name : Teo Kean Hui
Student ID : 0310165
Course : FNBE March Intake 2012
Lecturer : Mr Chang Jau Ho
Introduction To Business
In this Foundation in Nature and Built Environment semester 2, Introduction To Business (BUSF 0103) is one of the compulsory subject that must take amount the 7 subjects taken.
There are a lot of topics in Introduction To Business have been tough through out the semester such as Managing Employees, The Production Process, Managing a Business and so on. Among so many topic, my favorite topic is Managing With Financial Information. This topic is about how to manage a business or investment by reference to the company or a business's accounting report. Accounting report help us to estimate the revenue, expenses, assets and a lot more. This can help us in improving a business by adding in or cutting down certain items in the investment. This topic is my favorite it's because have learnt to understand the basic stuff of accounting such as balance sheet and profit & lost statement.
The topic I found that is useful is Managing A Business. This topic is about the strategy and process of managing a business. Plan, Organize, Lead and Control. This will be useful if I plan to start a business in future. Normally if a business management is not well planed, the business will suffer from lost or maybe worst- bankrupt. To success we have to begin with a goal, then goes to strategy and followed by tactic. Wal-Mart is a very success company leading by Sam Walton, challenging his employees to reach target is one of the strategy he used to achieve success.
My other personal comments about this subject, overall is good. awesome lecturer and good slides. But exam is a little bit hard, need to memories a lot of stuff.
There are a lot of topics in Introduction To Business have been tough through out the semester such as Managing Employees, The Production Process, Managing a Business and so on. Among so many topic, my favorite topic is Managing With Financial Information. This topic is about how to manage a business or investment by reference to the company or a business's accounting report. Accounting report help us to estimate the revenue, expenses, assets and a lot more. This can help us in improving a business by adding in or cutting down certain items in the investment. This topic is my favorite it's because have learnt to understand the basic stuff of accounting such as balance sheet and profit & lost statement.
The topic I found that is useful is Managing A Business. This topic is about the strategy and process of managing a business. Plan, Organize, Lead and Control. This will be useful if I plan to start a business in future. Normally if a business management is not well planed, the business will suffer from lost or maybe worst- bankrupt. To success we have to begin with a goal, then goes to strategy and followed by tactic. Wal-Mart is a very success company leading by Sam Walton, challenging his employees to reach target is one of the strategy he used to achieve success.
My other personal comments about this subject, overall is good. awesome lecturer and good slides. But exam is a little bit hard, need to memories a lot of stuff.
[ 282 words ]
Photos
The item that we sold on the Charity Drive Thur Event, the handmade rose.
Tutorial Exercise
Intro to Business Exercise 5.0
1. What are the 3 types of employee behaviour? Describe them and provide an example for each.
Performance, Coperative citizenship, Counter productivity.
2. Joe, the manager of your department, is mentally disturbed. He enjoys bullying his male subordinates and is known to have sexually harassed all the female workers under his supervision. Discuss the impact of his behavior on the department and company if action is not taken against him.
His subordinates will either report him to the upper hand or to the police to take action. If not, they will be uncomfortable with the job and will result in resignation. The company will then face loss in the number of workers and performance of the workers will decrease.
3. What are the Big 5 personalities? Are these personality traits trainable? Why or why not? How can a business ensure its employees have the big 5 personalities?
Openness, Conscientiousness, Extroversion, Agreeableness, Neuroticism. They are born with a person. You can’t because it is born with the person.
4. What are attitudes? Are job attitudes changeable? If yes, how can businesses play a part in fostering good work-related attitude?
Job satisfaction and organizational commitment. Yes by giving a fair salary, good job security and benefits, provide interesting and challenging work tasks.
5. After having been fired from his job, Joe currently lives in the store room of his parents’ home. He is quite depressed with his situation for he has been unemployed for the past 6 months. To spend his time, he goes out with his drinking buddies every night. Referring to Maslow’s theory, what unmet needs does Joe have right now? Why do you say so?
He needs the self esteem needs because he just lost his job.
6. Scarlett, a purchasing manager from your firm, has recently left for greener pasture (poached by headhunters). You are currently looking for her replacements. Where would you look first? Why?
Internal recruit. This is to save money, time and interviews can be avoided to hire a new employee.
7. Wong Kah Man has recently accepted your job offer as the new purchasing manager (to replace Scarlett). However, both you and the employer have yet to decide on his salary package. How would you go about estimating his salary figure? Discuss.
By comparing similar jobs in the same industry. With the similar jobs in the industry, the performance of the employees can be tested to see the deserved pay for the more skilled employee.
8. Shiow Huey, your boss, complains that training employees cost money and time, and not to mention that, while they are away from training, company’s productivity goes down. Advice her what would happen if she chose not to train her employees.
The productivity of the workers will drop and the rate of leaving of the employees will increase. If one of the employees leave, there will be none who could replace the position in time.
Intro to Business Exercise 7.0
1. What is accounting? Explain.
Accounting is a business tool that is used as a communication tool, decision making tool and a tool to discharge accountability.
2. Lejun is the owner of an architectural firm but he has no rudimentary knowledge in accounting (he has an accountant who looks after everything for him). Is this acceptable? Why or why not?
No, because he will easily fall into trap and cheated by that accountant easily.
3. What information can you obtain from a Profit and Loss Statement? How can you use this report to assist you in making business decisions (use an example)? What is the other name of P&L statement?
The business report reports the revenue gained by the company as well as the resources. This report could help the company owners decide on whether new products should be introduced to boost profits or cutting the business’ expenses to reduce loses. It is also called a statement of income.
4. What is a Balance Sheet? Also explain the 3 main items reported in it (with suitable examples). What is the other name of balance sheet?
A balance sheet reports what a business owns and what it owes in a particular day. It contains the business’ assests, which help to generate revenue such as rent, liabilities which come from bank loans and the owner’s equity such as the starting capital. It is also called a statement of financial position.
5. What is the accounting equation (formula)? Shi Yi started her business on 1st January 2011 with $1.5m of her own money and $0.8m of bank loan. Write out the equation for her business.
Assets = Liabilities + Owner’s Equity. $2.3m = $0.8m + $1.5m
6. Continuing from question 5, what if Shi Yi repaid half of the bank loan 2 months later? How will her business’ accounting equation look like? Lastly, at the end of 2011, her business makes 0.4m of profit. Again, how will her accounting equation look like?
$6.2m = $2.7m + $3.5m
7. Yin Jou wants to borrow $150,000 from Public Bank. She currently has $250,000 of assets (car, shares and cash) and liabilities (e.g. personal loans) of $226,500. Based on this information, would you (as a loan officer) approve the loan? Why or why not?
No because she does not have enough money to pay for all her loans.
8. Herman runs a roti canai stall in Subang. His monthly rent and utility expenses are $2700. He sells each roti canai for $1.50 and it costs him $0.65 to make each. Calculate his break-even point. Why is this information important to him?
He has to sell about 3177 roti canai’s in order to pay for his rent and utility expenses in one month. This is important to know because it will influence his decision to continue.
1. What are the 3 types of employee behaviour? Describe them and provide an example for each.
Performance, Coperative citizenship, Counter productivity.
2. Joe, the manager of your department, is mentally disturbed. He enjoys bullying his male subordinates and is known to have sexually harassed all the female workers under his supervision. Discuss the impact of his behavior on the department and company if action is not taken against him.
His subordinates will either report him to the upper hand or to the police to take action. If not, they will be uncomfortable with the job and will result in resignation. The company will then face loss in the number of workers and performance of the workers will decrease.
3. What are the Big 5 personalities? Are these personality traits trainable? Why or why not? How can a business ensure its employees have the big 5 personalities?
Openness, Conscientiousness, Extroversion, Agreeableness, Neuroticism. They are born with a person. You can’t because it is born with the person.
4. What are attitudes? Are job attitudes changeable? If yes, how can businesses play a part in fostering good work-related attitude?
Job satisfaction and organizational commitment. Yes by giving a fair salary, good job security and benefits, provide interesting and challenging work tasks.
5. After having been fired from his job, Joe currently lives in the store room of his parents’ home. He is quite depressed with his situation for he has been unemployed for the past 6 months. To spend his time, he goes out with his drinking buddies every night. Referring to Maslow’s theory, what unmet needs does Joe have right now? Why do you say so?
He needs the self esteem needs because he just lost his job.
6. Scarlett, a purchasing manager from your firm, has recently left for greener pasture (poached by headhunters). You are currently looking for her replacements. Where would you look first? Why?
Internal recruit. This is to save money, time and interviews can be avoided to hire a new employee.
7. Wong Kah Man has recently accepted your job offer as the new purchasing manager (to replace Scarlett). However, both you and the employer have yet to decide on his salary package. How would you go about estimating his salary figure? Discuss.
By comparing similar jobs in the same industry. With the similar jobs in the industry, the performance of the employees can be tested to see the deserved pay for the more skilled employee.
8. Shiow Huey, your boss, complains that training employees cost money and time, and not to mention that, while they are away from training, company’s productivity goes down. Advice her what would happen if she chose not to train her employees.
The productivity of the workers will drop and the rate of leaving of the employees will increase. If one of the employees leave, there will be none who could replace the position in time.
Intro to Business Exercise 7.0
1. What is accounting? Explain.
Accounting is a business tool that is used as a communication tool, decision making tool and a tool to discharge accountability.
2. Lejun is the owner of an architectural firm but he has no rudimentary knowledge in accounting (he has an accountant who looks after everything for him). Is this acceptable? Why or why not?
No, because he will easily fall into trap and cheated by that accountant easily.
3. What information can you obtain from a Profit and Loss Statement? How can you use this report to assist you in making business decisions (use an example)? What is the other name of P&L statement?
The business report reports the revenue gained by the company as well as the resources. This report could help the company owners decide on whether new products should be introduced to boost profits or cutting the business’ expenses to reduce loses. It is also called a statement of income.
4. What is a Balance Sheet? Also explain the 3 main items reported in it (with suitable examples). What is the other name of balance sheet?
A balance sheet reports what a business owns and what it owes in a particular day. It contains the business’ assests, which help to generate revenue such as rent, liabilities which come from bank loans and the owner’s equity such as the starting capital. It is also called a statement of financial position.
5. What is the accounting equation (formula)? Shi Yi started her business on 1st January 2011 with $1.5m of her own money and $0.8m of bank loan. Write out the equation for her business.
Assets = Liabilities + Owner’s Equity. $2.3m = $0.8m + $1.5m
6. Continuing from question 5, what if Shi Yi repaid half of the bank loan 2 months later? How will her business’ accounting equation look like? Lastly, at the end of 2011, her business makes 0.4m of profit. Again, how will her accounting equation look like?
$6.2m = $2.7m + $3.5m
7. Yin Jou wants to borrow $150,000 from Public Bank. She currently has $250,000 of assets (car, shares and cash) and liabilities (e.g. personal loans) of $226,500. Based on this information, would you (as a loan officer) approve the loan? Why or why not?
No because she does not have enough money to pay for all her loans.
8. Herman runs a roti canai stall in Subang. His monthly rent and utility expenses are $2700. He sells each roti canai for $1.50 and it costs him $0.65 to make each. Calculate his break-even point. Why is this information important to him?
He has to sell about 3177 roti canai’s in order to pay for his rent and utility expenses in one month. This is important to know because it will influence his decision to continue.
Assignment 1 : Lynas
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