Designated Hours: 20 Hours

Business Fundamentals, in this unit, students will learn the following concepts and complete the corresponding tasks after each class.

1. Forms of Business ownership
2. Identify the different types of businesses
3. Explain why a person or group of people would choose to establish one type of business rather than another
4. explain the concepts of ethics and social responsibility as they apply to business (e.g., workplace safety, anti-discrimination issues, accessibility issues for people with disabilities, environmental responsibility, respect for labour laws, fair trade)
5. assess ethical dilemmas in the workplace (e.g., forgery, theft, misuse of funds, discriminatory hiring practices, whistle-blowing);
6. explain controversial business issues from a local, national, and international perspective (e.g., accounting scandals, the environmental impact of some business practices, insider trading, fraud).
7. explain the potential benefits (e.g., access to markets, cheaper labour, increased quality and quantity of goods, access to resources) and social costs (e.g., outsourcing, human rights or labour abuses, environmental degradation) of international business for domestic and foreign partners;
8. explain the barriers and obstacles to conducting international business for domestic and foreign partners (e.g., tariffs; currency fluctuations; increased costs; cultural differences, including language barriers);