As the demand for goods and services increases, job growth _____.
A(n) _____ is a general belief about a person or group of people that may not be true.
_____ are important to possess because they can be used in many different jobs and situations.
The following factors affect the labor market EXCEPT:
The advantages of being an entrepreneur are _____.
In order for the economy to be strong, individuals must _____.
Discuss how the workplace is changing and why it is important to understand workplace trends.
The global economy impacts the job market or demand for certain jobs. Some of the jobs that used to be performed in the United States are now being shipped overseas. Other jobs are being created in the United States because of the increased demand for U.S. products overseas. Technology is changing the workplace. People use technology to work for effectively. Sometimes technology eliminates jobs while other times the use of technology helps create new jobs. Outsourcing and telecommuting are two trends that are affected by technology. Today’s workers need to be able to work in teams and with different types of people. Team members collaborate on projects, set goals, make decisions, and implement actions. People are expected to work together and with people from different countries, cultures, backgrounds, and generations. The workplace is also becoming increasingly diverse. It is important to respect other cultures and ideas. Being able to work with a diverse workforce is an important work skill to possess.
List the four workplace trends discussed in the lecture.
The global economy, teamwork, technology, and diversity
Most new jobs in the United States will be in the _____.
A pair of shorts, a DVD, a car, and a necklace are all considered goods or items that people buy.
What is one advantage and one disadvantage of the global economy for American workers?
Advantages: lower costs of labor and production for businesses, more variety of imported goods for consumers, possible job opportunities. Disadvantages: loss of jobs to foreign workers, increased competition for goods
The loyalty of customers to a business is called _____,
What are five things you can do to overcome stereotypes?
1. Examine why the stereotype exists 2. Evaluate why the stereotype persists 3. Encourage acceptance of differences 4. Think outside the box 5. Examine your own ideas
List and describe the three traits needed to become a successful entrepreneur.
Sight & Foresight -Ability to see opportunities that others do not see -Notice needs that are not being met, and make a career out of fulfilling these needs Decision-making -Makes business decisions every day -Must make GOOD decisions using the decision making process Motivation -Self motivation – know what they want and believe in their ability to achieve it -Stay motivated by setting short term and long term goals -Plan on how to achieve their goals
Define the three main forms of legal ownership of a business. Which one appeals most to you and why?
The three forms of ownership are sole proprietorship, partnership, and corporation. Sole proprietorship – a business is completely owned by one person Partnership – a legal arrangement where two or more people share ownership of a business Corporation – business chartered by a state that legally operates apart from the owner(s) Students’ preferences should reflect an understanding of how the three forms of ownership offer different levels of responsibility, decision-making power, and financial risk.
Amelia is going to school to get a degree in Early Childhood Education. She wants to open her own daycare after she graduates. What can she do while attending school to gain work experience?
Baby-sit, volunteer at an after school program, get an entry level position at a day care, etc.
As the demand for goods and services increases, job growth _____.
_____ are important to possess because they can be used in many different jobs and situations.
The advantages of being an entrepreneur are _____.
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