Wk 2: Assignment 1

Assignment 1: Reading and blogging (4-8 hours)

 Read Chapter 1 and 2 of the text book. Keep a blog of 3-6 ideas you learn from each of the chapters that you can use for your business or profession. Update your blog. 

1.  Let the stockholders know how the business is doing financially speaking.
2. Know the demographic profile of buyers that marketers use, “twenty-five to fifty-four years old, college educated, business executive employment,” no children households that their incomes greater than $50,000. (Page 15)
3. MBA must know how to address the 7 marketing strategies:  consumer analysis, market analysis, competitive analysis, distribution channel analysis, develop the marketing mix, determine the economics, and revise.
4. MBA must know the 7 concepts of accounting rules and reporting:  the entity, cash and accrual accounting, objectivity, conservation, going concern, consistency, and materiality.
5. Two topics being covered in Chapter 2, relativism and stakeholder analysis.  Relativism deals with ethics being ignored in the decision making.  It says that people can’t decide on what is right or wrong, and good or evil.  On the other hand, stakeholder analysis which gives the structure of which to confronting the ethical decisions of the company.
6. MBA must know how to interpret the financial statements, Asset=Liabilities + Owner’s Equity (OE), are the summary of the company’s financial transactions being recorded in the general ledger.