Phan Boi Nhi-TA Introduction Business Administration

CHAP 1: TAKING RISKS AND MAKING PROFITS WITHIN THE DYNAMIC BUSINESS
ENVIRONMENT
1/ What is the relationship of bussinesses’ profit to risk assumption?
Profit is money a business earns above and beyond the money that it spends for salaries and other expense
Business make profits by taking risks
Risk is the chance an enrepreneur takes of losing time and money on a business that many not prove profitable
Risk=> Loss occurs when a business’s costs and expenses are higher than its revenues
2/ Who are Stakeholders and which stakeholders are most important to a business?
Stakeholders : customers, employees, stockhoders, suppliers, dealers, bankers, the media, people in the local
community, environmentalists, and elected government leaders.
The goal of business leaders is to try to reorganize and respond to the need of these stakeholders but still make a
profits
In these Stakeholders, Customers take the most crucial to business.
3/ Compare and contrast being an entrepreneur and working for others

• What are the ads and disads of entrepreneurship?

Entrepreneurs (nhà khởi nghiệp ) are people who risk time and money to start and manage their own business
Working for others (nhân viên làm cho nhà khỏi nghiệp) means getting benefits like paid vacations and health
insurance.
Entrepreneurs take more risks and loses those benefits( disad)
They gain the freedoom to make their own decisions, more opportunity and possible wealth.(ad)

• What are the 5 factors of production?

The five factors of production are land, labor, capital, entrepreneurship, and knowledge
What makes rich countries rich today is a combination of entrepreneurship and effective use of knowledge (most
important=> longterm factor).
4/What can govt in developing countries do to reduce the risk of starting bussiness and thus help
entrepreneurs?
The govt may allow private ownership of business, pass laws that enable bussiness people to write contracts that are
enforceable in court, establish a currency that’s tradable in world markets, help to lessen coruption in business and
govt keep taxes and regulations to a minimum. (giảm thuế và luật để hổ trợ và thúc đẩy doanh nghiệp, tạo đồng tiền
chung như Euro của cộng đồng Châu Âu.)
From a business aspect, lower taxes=>lower risk=>encourage business produce more to gain more profit=>more
monet for workers and the govt.
5/How has technology benefited workers, businesses, consumers?
Technology enables worker to be more effective, efficient and productive
Effective: Hiệu quả, đúng việc đúng thời điểm.
Efficiency: Sản xuất với nguồn vốn công ty ít lại
Productivity: Số lượng hàng hóa sản xuất ra trên số lượng nguyên liệu cho vào( vd : số giờ làm việc)
Phan Boi Nhi-TA Introduction Business Administration

6/ What are some ways in which bussiness meet and beat competition?
-Có rất nhiều cách để cạnh tranh: Sản xuất sản phẩm chất lượng hơn -Making high-quality products, Sản xuất sản
phẩm mà vượt cả sự mong đợi khách hàng - exceed customer expectations
-Empowering frontline workers by giving them more training and more responsibility and authority=Nhượng quyền
cho các quản lí bằng cách huấn luyện, tạo trách nhiệm và quyền hành.
7/ How have social changes affecting businesses?
Diversity : su da dang hoa trong xa hoi vd nhu nguoi doc than, nguoi trong hon nhan, nguoi bi quan, nguoi lac quan,
LGBT, nu quyen, nam quyen,…
Viec kiem soat Social Diversity co nghia la giai quyet cac van de nhay cam voi cong nhan va van hoa.
Van hoa rat quan trong boi neu tan dung tot thi se biet thanh uu diem cua doanh nghiep nhung neu khong thi se biet
thanh khuyet diem cua doanh nghiep.
8/ Which countries are creating the greatest challenges?
China and India are 2 major competitors
Hiện nay Mỹ bắt đầu ngừng hợp tác với TQ sau Trade War 2013 và thay vào đó là Ấn Độ.
What will be impacts of future wars(chiến tranh tương lai) and terrorism(khủng bố)?
Defense industry may prosper. Others such as tourism may suffer. One way to minimize world tensions is to help
less developed countries ( African countries) to become more prosperous.
Các ngành công nhiệp vũ khí bảo vệ sẽ có lợi như là xe tăng, máy bay chiến hạm => Triều Tiên nước có nguồn lực
mạnh trong việc sản xuất vũ khí chiến tranh
Các ngành công nghiệp khác như du lịch, sản xuất lương thực, ngành công nghiệp nhẹ như vải,… sẽ bị đình chỉ vì
không sản xuất được.
Đa phần chiến tranh hay khủng bố diễn ra ở các nước kém phát triển như các nước Trung Đông (Tranh chấp lãnh
thổ giữa Israel và Palestine.