BUS class 1

The transcription discusses the importance of studying business and understanding how businesses operate. It emphasizes the benefits of taking challenging courses, attending classes, and being engaged in learning. It also touches on various aspects of business, such as regulations, services versus tangible goods, customer preferences, ownership structures, and the impact of politics and government on business. The speaker encourages students to think critically about business decisions and their roles as consumers and community members. It looks like you've been safely identified as Michael. You might have received more than one email from that link. Make sure that when you fill it out, it's a business one number. A-U-2. Only the A's and the 2's. Thank you. A-U-2. And then do a reminder of just, like, the full phrase. So, like, the link for the bunch of A's and 2's. Just make sure you do that. Okay? And when I do that, like, zoom out. So, I have a group of people that are studying business as a global art degree. And then there's other people that are studying politics. So, why are you in this class? Why do you want to study business? Yeah? Do you want to do accounting? Do you want to do marketing? Good. Do you want to do marketing? Good. Yeah? Terri, do you want to do it? I got two more reasons. Do you want to do it? Great. Anybody else? Why are you studying business? It's always been, like, marketing, accounting. I don't know where those are. Any of you? So, why aren't you studying business? Okay. So, I'm going to say, why marketing? Or why accounting? Or why MIS? Okay. We're almost getting ready to have an answer. I don't know if you, like, everyone wants to answer that. So, I asked you a couple of questions. Like, where do you see yourself in the future? Does anybody see themselves owning their own business? No? Yeah? No? You kind of got to know how it all works. You're going to plug it all in. Right? So, where are you likely going to be working when you graduate? For a business. So, wouldn't it be good to know how they all work together so that I always think it's funny, because I've had students come back to me in class, and they go, you know, I pulled it off something, like, in the beginning of class, that I totally understand how I'm doing something as it relates to what's happening in the finance area, and you're going away. And again, I keep thinking you don't understand that. But now that you do, they're going to look at you like, oh, there's like a reason I was avoiding looking at the big picture, because they don't think there's a reason. Right? So, do you think that's one of the reasons why you keep studying business? First of all, it's going to be your next career. It's going to be accounting, marketing, MIS. Right? Or could you simply improve the career that you're going to get in another field by understanding how that business operates, therefore being able to, you know, be that better employee, life manager, as you go along. Obviously, if you want to run your own business, absolutely. Also, to be a better customer or consumer or investor. By understanding more about how a business operates, you have a lot of talent. So, recognizing that all those stocks that are traded on the stock market, somebody is buying that stock. Somebody is buying that stock thinking, most times, that that stock price will go up because of the operations of that company. So, they want that investment of theirs to improve. So, that's why they buy that stock. So, obviously, being strong enough to understand more about the fundamentals of that business and whether the stock will go up or down is a really good idea. Also, as a consumer, you have a lot of power as to where you spend your money. Do you spend your money with an ethical company? Do you spend it with an ethical one? Do you spend your company money? Here's what's the big push right now. Buy Canadian. You have power to buy from a Canadian company or to buy from an American company. So, understanding more about the business may help you make that decision. It may help you say, hey, wait a minute. I don't like the way that company runs. I'm not going to spend my money. And then to be a better influential community member. This idea that, you know, so many times we have gut reactions. Like, oh, this business is moving into my community. Even if you're on Polaroid, like, you don't want that business here. Or, we have to have that business here. What do you think that you understood how that business operates? What it stands for? What it's doing? And then you make a better decision. Not to say that you can change your side, but you should be in a big way, not in a neutral way. So, the idea of recruiting one's career, I'd just like to talk to you about, do the classes are often off the calendar courses? Stand by. Taking top courses in your university actually gives you more money. So, you have shown that students who take harder classes end up getting better jobs and get better pay. And those who take easier ones. Okay? So, it's a hard class? Well, then learn more. Learn more, better jobs. Okay? Other thing is, if you try to minimize your workload, you're going to minimize your earnings. So, do the work. I always joke, my answer to anyone who comes to me is, like, minimum effort is equal to minimum wage. Okay? So, if you want to have a better minimum wage, get a little effort. Okay? The other thing about showing up to class, really helps you learn. I always tell this story to my students, but they kind of go, no, never mind. The idea is that when I got out of a horrible, you know, neutral class, I was kind of studying, and I said, well, yeah, that's true of you. Okay? Then I went to grad school, and I went to every single class. The material was way harder. But because I went to every class, studying was such a breeze. I'm thinking, why did somebody not tell me this on undergrad? I didn't want to tell you. Come to class. It makes studying easier. I have some material. And this is why I'm going to put you in a group because I want to get you to like one of the people. And then put the forms away. I appreciate, by the way, looking around this room right now, that very few of you are on your phone, and you're on your computer, and you're on face-to-face. Just do that for the entire class. Okay? Because it's great, right? If you're paying attention, it works better. So, let's just do this for the entire class. Okay. So, what are the things that you might already know about business? If you're in this class, you might already know. What are the things you already know? How about this? They want to obtain funds. Okay? This is it, too. Yeah, there's business, right? This is business organization, right? This is not for profit. There's a change match. There's some kind of more strict one than others. Yes, there is. In some way. So, some businesses are more regulated than others. In Canada, we have a lot of regulations on business, except for some laws around, you know, safety for workers. Yeah, we do. Again, things like safety for workers and things like that. You're right. We have a lot less than other countries in terms of regulations. We have more so than the United States, but there's a lot less to do. Yeah, absolutely. So, okay, we're talking about politics on one hand. There's a lot of things. We'll talk more about that. We'll talk more about that. And politics in government has an impact on the business. And then what you're also going to do is have an impact. What do they like and what do they don't like? Do they change? Do people like things? And then, you know, we do how much money consumers have to spend with how much they don't have to spend. You're right. And that's just a small chunk. That's how much of the world we're talking about. We don't have anything else in there. Okay, any more? Any more? Some businesses will service as well as others will not. Right, right. For some people, like a product like a water bottle, that's a tangible good. Others will lose it. Like in here, that's for more year long, a 15-year car, or the dentist, right, those are services. And there's no tangible thing you can walk out with, right? You can have it sitting in your seat, but really it's not, right? Because you don't have a tangible thing. Right, so that's a different kind of business. And it has, you know, good things and bad things in there, right? We'll talk about that in a minute. Any more? Right, so people get something more of what they want. It just means we should know more about our customers in order to get more of what they want. Right? I feel like it's not necessarily a bad thing because, again, if you're really like, no, you're a product, right, and you can get it. Like, again, the classic one is like when you're buying a printer, they sell you this because, like, your printer doesn't look very well, right? Right? Different kind of ownership? So we have that. We'll talk about that. So blippers can own it. It can get, it can be owned by the stockholders. It can be owned by the people who charge the company. Right? That, uh, that stuff. Then, then whatever things you don't know that you'd like to know. So what effect does this have? Oh, it has significant ideas in the world. Like, say, the United States, a lot of what it does is help those people to try to keep their friends in business. You forget about the good people who own stuff. But then there's the natural, or not thinking that you're going to be there. That's interesting. Sure, I can take for granted that it's safe. It's by not caring too much. Too many, they write up, write up a bill of compensation, doesn't want to do it, does something else. If you honor what was said, and the people who let you do what you want, what they think you need, you know, you're cool. You're like, you're cool. And then they'll talk about it. Okay. So, back to that. How does the person in the seat network do things? The next department, the department of rules. Like, who thinks of it? Yeah. Um, how care affects the one in the seat? Ah, the good one in the seat rule right now, right? We'll talk a little bit about that. So, see, it's obviously can be more in the seat rule, right? Let me understand what care is. Yeah, if it happens, and who pays it? You need a consumer. Now, this might be for a while just to save from passing on, but really what happens is, the company that I'm selling to, they need to get added on. Right? And so, the consumer pays for it. Right? So, this is always, now, why does that work? So, why does that work? Well, it ends up being that, that group that came from, you put that 30% tariff on it, it's now more effective than if you bought the same product that was manufactured in Canada. So, it's trying to get people to buy the Canadian version. That only works when the Canadian manufacturer is a version of this. And so, specifically having some of this tariff set, again, such as, the company that they put on, if they come up with tariff on things that there is no manufacturing in the United States, who buys? They just went, oh, I'm going to legalize this country. And I'm like, wait a minute. Like, for example, I remember this show, and I don't know if it's true now, but there was a show probably about eight or nine years ago, and they had this, this company, this family. Okay. And they had to buy everything they consumed from America. So, they had to be American-made. You know why London, they could not buy this American-made? High population. There was no television manufactured in the United States. If you're going to tax Japan and Korea for free television, there's no American alternative. You're just going to make TV more expensive for Americans. Right? So, there's the problem. You can see the reason behind it, behind this. So, Donald Trump was very upset that Americans, the banks, were basically buying too many good manufactured ones. So, they're going to buy good football manufactured ones, which is typically cheaper because they're regularly cheaper, simply is going to make American television pay. Right? So, but that's what he means to the worst. The worst is re-loyalized making things American-made. Because now, it's impossible for American television to make that TV in the United States because it's so much cheaper for it to be made in Japan or Korea. Right? So, he's trying to say, well, look, now I've added this X amount of technology, and Trump is giving me the second one so he can't China, Japan, or Korea. So, any American company, you can set up the United States as a business and make money. The problem is it's going to be out of the ability to sell in the United States. Well, I think that's going to be a rapid cycle. So, we'll talk about that in a minute. So, we have business cycles. So, we have business cycles where we have depressions and recessions and booms and busts. And the point is, what happens is that, of course, what happens when people are laid off, they don't have money. So, what do they do? They don't buy other goods. So, that company has to lay off people. So, that's always our concern when we have that kind of situation. The impact of people versus what I know right now is the impact of people versus business. The impact of people versus business? Yeah. How they have to deal with people. And so, we have to think about how does business impact people and how do people impact business? Yeah. And I think we'll talk about that. Because it's a really important thing that not only the employees but the consumers have to think about. So, what are those factors that might affect a business in Canada? And I say that in contrast to if I was starting a business or connecting a business to the EU. What are those things that impact us? The resources we have available to us. The population. We have a smaller population than the global population. Right. And especially when you're putting them into a population that is 1.2 billion and such. You need resources that are much bigger population. The resources are very different though. We're saying that's part of how the team is in Canada. Right. You know. So, exactly. You have that idea. Right. Labor. The cost of living and the labor where we have to pay ten people to get in life a lot of businesses to get in life. Right. 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