Intro to Management Functions - Economic Challenges
MGM 101 Overview
Session topics:
Session 1 – Introduction
Session 2 – Economic Challenges
Session 3 – Small Business / Entrepreneurship
Session 4 – Management, Leadership, and the Internal Organization
Session 5 – Human Resource Management / Marketing
Session 6 – International Business and The Financial System
Session 7 – Business Ethics and Social Responsibility
Session 8 – Strategy – Intl Business, Accounting/Financial Statements, Financial Mgt
Session 9 – Technology
Session 10 – Performance, Production, and Operations Management
Session 11 – Accounting/Financial Statements
Session 12 – Financial Management
Contact: ott o.yung@utoronto.ca
Economic Challenges
1. Factors of Production
2. Share of Employment
3. What Makes a Company Admired?
4. Macroeconomics
5. Evaluating Economic Performance
6. Productivity and GDP
7. Employment Levels
8. Monetary and Fiscal Policies
9. Global Economic Challenges
Factors of Production
Natural resources
e.g., Agricultural land, building sites, forest, and mineral deposits
Capital
Technology (machinery, equipment, software, etc.)
Tools
Information
Physical facilities
Human resources
Physical labour and intellectual effort
Entrepreneurship
Willingness to take risks to create and operate a business
Share of Employment (Private Sector) by Industry
Source: From Statista, 'share of employment in the private sector in Canada in 2019, by industry,' December 10, 2021, accessed March 24, 2022.
What Makes a Company Admired?
Solid profits
Stable growth
Safe and challenging work environment
High-quality goods and services
Business ethics
Standards of conduct and moral values involved in decisions made in the work environment
Social responsibility
Management philosophy that includes contributing resources to the community, preserving the natural environment, and developing or participating in not-for-profit programs designed to promote the well-being of the general public.