Week 1 learning
activity
Learning Activity #1: Economics
This learning activity focuses on a variety of economic
topics that affect the business decisions we make every day (e.g. law of supply
and demand).
Part A: Review the
table below. Notice the economic
categories across the top row. Select
one item from two of the economic categories and explain how the topic
exemplifies the principle. Be sure to
define the principle and how a business can be affected by the principle.
Balance of Trade
Supply and Demand
New Technology-Obsolesce
Employment
GDP health indicators
Made in America product identification
Buying toys at Christmas versus other times of the year
Ceasing to use a landline in favor of a cell phon
Aging population
Rise in Federal Interest Rates
Buying a Toyota Tacoma or Dodge Ram
Shovels and generators during a blizzard
New Bio Gasoline Discovery
Length of time it takes to get a job
A downturn in the housing rate
Buying products at Walmart or the Dollar Store
Gas prices when OPEC reduces production
An App that controls you home doors, oven etc.
Christmas hires
Christmas Sales
Part B: Select two recent monetary decisions you have made
and explain how they affect the economy (e.g. buying a car).
Learning Activity #2: Ethics
Jan and Juan worked in an up and coming solar panel
manufacturing firm. The firm started
five years ago, and was making a profit, but needed several bigger contracts to
expand the business. The firm put in a
bid for a city government contract and was one of two businesses up for the
government contract. The presentation
for the final decision was due in three weeks.
Juan was preoccupied with a sick child leaving much of the
work for Jan to do. Having pulled the
entire presentation together Jan went over the final presentation with
Juan. Since Juan had better speaking
skills, they decided that Juan would present most the work and Jan would
supplement information in a few areas.
The presentation was a huge hit. The firm was awarded the
contract and brought Juan many accolades.
So grateful were the owners of the business that they gave Juan a bonus
of $5,000. Juan was torn because the
bonus money would help with the medical bills for his son, but Juan knew that
Jan was more deserving of the money.
Displaying ethical behavior in the workplace comes from the
employee recognizing the conflicting issues between what is good for the
business and what is morally uncomfortable for the employee. The conflict
between these two ideas is known as an ethical dilemma. Three of the most
common ethical dilemmas in a business fall in these categories conflict of
interest, conflict of loyalty, and honesty and integrity.
In this learning activity, it is important to recognize the
issues in conflict or the dilemma that is at stake and decide which of the
three categories the dilemma fits into the best.
Task: Explain the three categories of ethical dilemmas
commonly found in business and identify which one best fits Juan’s
dilemma. Be sure to explain the actual
issues that would be in conflict (business vs. individual) in each of the
categories. Then once you have selected the category identify Juan’s dilemma
and make suggestions as to how he might resolve the dilemma.
