64 Matching Annotations
  1. Mar 2017
    1. ?

      add - "useful for planning and executing the operations?" then I would add: Most companies bring their production information together into an Enterprise Resource Planning (ERP) system, where date is transformed into useful planning information to answer the following questions.

    2. organizations and operations managers use data to make informed decisions about production processes

      I really like that we have this in the Management module - instead of IT. Good move!

    1. Inventory Control Just-in-time (JIT) is an inventory strategy that companies employ to

      Not trying to split hairs.... I would call this Just-in-Time Manufacturing Process Just inTime (JIT) is a manufacturing process strategy designed to increase efficiency.....

  2. Feb 2017
    1. My personal opinions aside…..I have given this section a good bit of thought and believe I can summarize constructively:

      The introductory video from Joseph R. DesJardins (Ethics and International Standards of Behavior - we should name him BTW) sets the stage very well for how and why businesses are (and should be) stakeholders in global standards of behavior.

      He provides good guidance and an outline we could follow to provide a business centric context for this section. As a business instructor I am prepared to discuss and teach a business’s global stewardship and the various global organizations like WTO, IPCC etc.. Corporate social responsibility in the banking industry and the UBS case study is a very relevant and teachable from a business perspective.

      I am not however prepared to discuss or teach C02 levels of emission or scientific findings on greenhouse gases. This whole section becomes vulnerable to scientific arguments and may miss opportunity to make the relevant business point.

      I think if we renamed this section “International Standards for Corporate Social Responsibility” instead of “Climate Change” it would help to emphasize the relevance to business. Climate change then becomes “an example of”.

      I suggest we change (broaden) the last 2 outcomes:

      o Identify the key causes of man-made “climate change” change to "Important 21st century global business issues". o Describe cap-and-trade systems for limiting carbon dioxide emission Change to: "the impact of global regulatory systems, such as cap-and-trade on businesses today". Then reword to emphasize business (I’ve made some suggestions throughout)

    2. As you can see, when companies such as UBS set out to choose an environmentally responsible course, the solutions may not be obvious or simple, and cost can be a very real concern. If you were in charge of UBS’s objective to address global warming, which of the scenarios above would you choose, and why?

      This is an excellent conclusion and "the reason" to explore this whole section.

    3. Since some companies and countries have had more success in reducing GHG emissions, one policy that has been promoted is to create a market-based mechanism for encouraging reductions in GHG. These mechanisms have alternatively been referred to as cap-and-trade or carbon offset systems.

      This is the "point" related to business - can we reword to get to this without all of the tricky science.

    4. GHG emissions

      It takes a good bit of effort in an introductory class to get students to grasp business oriented concepts like GDP - not likely we can get them to wrap around GHG emissions.

    5. Scientists generally agree that the primary cause of man-made global warming is the accumulation of greenhouse gases (GHGs) in the atmosphere. These gases act as a sort of invisible blanket around the earth, holding in heat and preventing it from radiating out into space. The most important greenhouse gases are carbon dioxide (CO2), methane (CH4), nitrous oxide (NO2) and ozone. Carbon dioxide has been a particular focus of anti-global warming efforts. As a result of human activity, CO2 emissions are increasing at a rate of about 3 percent every year. Such activity currently produce emissions of roughly 35 billion tons of CO2 per year, a 54 percent increase over 1990 levels. In 1958 when CO2 emissions began to be precisely measured for the first time, the atmospheric concentration was approximately 315 parts per million (PPM). By 1990, CO2 emissions were growing rapidly, and in 2013, occasional measurements of more than 400 PPM began to be recorded for the first time, suggesting that a potentially dangerous threshold had been reached. It is widely feared that concentrations of 450 PPM or higher would be associated with a global average temperature increase in excess of 2 degrees Celsius, which is considered by many experts to be the threshold beyond which the Earth’s human population is likely to suffer potentially catastrophic effects. As a result, much of the worldwide effort to fight global warming has been focused on reducing the increase in CO2 emissions so that global levels can be kept beneath 450 PPM. However, if nothing is done, some projections suggest that, by the year 2100, CO2 could range as high as 540 PPM to 970 PPM.7 At such high concentrations, scientists fear that climate change could reach a “tipping point,” beyond which temperatures and chaotic weather patterns could accelerate wildly out of control. It should be noted that, even though most public debate concerns CO2, it is not the only significant greenhouse gas. Methane, in particular, also has a potentially important impact on future global warming. In fact, methane is twenty-three times more powerful than CO2 in terms of its warming effect (that is, methane traps more heat than CO2). Some experts argue that the world should focus more on curbing methane than on CO2, largely because it seems easier to control methane emissions without undertaking the major costs and expenses that are demanded by reduction of CO2. Despite the ongoing controversy over whether methane deserves more attention, the primary concern of policy-makers continues to be CO2. One reason for this focus is that CO2 lasts much longer in the atmosphere than methane does (methane decomposes in 15 to 20 years, whereas CO2 can remain for 50 to 75 years), but another reason is that CO2 emissions are linked to civilization’s relentlessly increasing use of energy, which seems much more challenging to control. Given the importance of controlling CO2 in the battle against climate change, it has become commonplace for policymakers to speak in terms of controlling “carbon” (note that carbon is part of not only the CO2 molecule, but also the CH4 molecule, as well as being present in atmospheric soot, which is also considered a major contributor to warming). Thus, when climate economists are trying to measure the average CO2 emissions produced by an individual, company, or country they often refer to the relevant carbon footprint.11 When policymakers discuss the possibility of discouraging CO2 emissions by taxing them, they commonly refer to this as a carbon tax.

      Could this whole section be summarized in terms of the impact on business - the final paragraph finally gets to it, as burning of coal, oil, natural gas "conducted in the course of business" with significant impact on operations, import and export regulations, fines etc.

    1. Identify the key causes of man-made “climate change” Describe cap-and-trade systems for limiting carbon dioxide emissions

      Lengthy explanation and suggestion in the Climate Change Page Notes

    1. such as the Christmas season in Western cultures, or Ramadan in Muslim cultures

      I think this whole section could get really dicey. In the context of global business we could say.... "Holidays originating from the prominent religion of a country or region create sensitivities....

    1. opportunity cost

      Opportunity cost is explained another way in the video below i.e. Adam Smith and David Riccardo and cost of production. Maybe referring to the video for explanation of opportunity cost would be better than referring to the previous economic environment module? ...... my experience..... this is a tough concept for intro to bus and more readily grasped on the basis of cost rather than "next produced'.

    2. opportunity costs

      No introduction to opportunity costs yet. They don't understand the concept going in. I'd say "while considering the cost and profitability of exporting their product."

    3. and until Lady Gaga starts a new trend, their peels don’t make very attractive clothing. I

      Hmmm maybe a bit too cynical for this crowd - Jus Saying!

    1. forward-looking, proactive approach is The benefit to managers and organizations from a forward-looking, proactive is that it reduces customer complaints, employee frustration, and waste.

      Oops doubles here

  3. Jan 2017
    1. I think this module is good to go. The emphasis on decision making (not black and white) is right on. I like the Corp Social Responsibility section. It would be inappropriate for an intro course to go deeper in to compliance programs or SOX etc. I'll save that for my Ethics course. Well Done!

  4. Nov 2016
  5. Sep 2016
    1. Analysts exclude inventories and prepaid expenses from current assets to compute quick assets because they might not be readily convertible into cash.

      Not sure we've mentioned prepaid expenses previously. Overall we say "accrual basis" but don't get in to prepaids (I could have missed this).

    1. Business

      I'm suggesting this section be reordered to align to the Video presentation, and keep the emphasis and subsets consistent. This is an outline of what I suggest rearranging: Accounting is the Language of Business

      Definition of Accounting – 2 short paragraphs

      Internal – External Users Paragraph…

      Financial Accounting - first 2 paragraphs

      ADD SECTION Tax Accounting information includes financial accounting information, written and presented in the tax code of the government, namely the Internal Revenue Code. Tax accounting focuses on compliance with the tax code and presenting the profit and loss story of a business to minimize its tax liability. (not vetted - just my suggestion)

      Managerial Accounting - paragraph

      Bookkeeping vs Accounting

      Importance of Accounting

    1. Need Opportunity Cost MGA An opportunity cost might include:

      1. the difference in cost of similar goods or services
      2. time spent dealing with regulatory requirements
      3. your lost vacation time due to a hurricane.