Sunday, November 07, 2010

Honors World History II: 8 November 2010

Prayer
Current Events (none on Quiz/Test days):
The Quiz on Ch. 11 Sec. 2 is today; this is the last Quiz/Test for the Quarter. November HW will count for the 2nd Quarter.

Clear your desk except for a pencil. Once everyone is quiet, and no talking during the Quiz, we can begin. Be sure to put your name on the Quiz and the Scantron. You may write on both the Quiz and the Scantron.

If you finish early, you may take out non-class materials; once everyone is finished, put away the non-class materials. Then, I will collect the Scantron first, and then I will collect the Quiz.

Be sure your name is on both the Scantron and the Quiz.

If your name is not on the Quiz it will not be returned.

HW is available below (per our usual procedure HW is also posted at the bottom of the daily blog post as well as being posted on GradeConnect):

Chapter 11 Section 3 The Age of Napoleon



Napoleon formed a new government, the consulate, in which he held absolute power. In 1802 he was crowned emperor and signed a peace treaty with Russia, Great Britain, and Austria. At home, he made peace with the Catholic Church and created a functioning bureaucracy. His Napoleonic Code preserved many of the rights gained in the revolution. War was soon renewed. By 1807, Napoleon had created a French empire. In parts of the empire, Napoleon sought to spread the revolution. However, his invasions had contributed to the spread of nationalism as well. This, along with British sea power, would spell his defeat. After a disastrous invasion of Russia, other European nations attacked Napoleon's army and captured Paris. Napoleon was exiled from France, and the monarchy was restored. Napoleon returned to power briefly, only to face final military defeat against a combined Prussian and British force at Waterloo and to be exiled once again.

Wordle: Chapter 11 Section 3 The Age of Napoleon
The Age of Napoleon


Objectives

Terms, People, and Places

Video clips about Napoleon

Map of Napoleon's Empire

Refight Trafalgar!

Napoleon's Empire in 1812

Napoleon's army retreating from Moscow

Waterloo Interactive Battle Simulator

The Battle of Waterloo Game

The Rise of Napoleon

Focus Question

Explain Napoleon’s rise to power in Europe, his subsequent defeat, and how the outcome still affects Europe today.

Early Life

Additional references:

Napoleon and Josephine
Courtship and Marriage
The Emperor and Empress
Crisis and Divorce
A New Life

Napoleon and Josephine (screen at your leisure outside of class)



Military Successes







Music: Maurice Ravel - "le Bolero" (screen at your leisure outside of class--set to events we are studying)







Consul and Emperor

Checkpoint

How did Napoleon rise to power so quickly in France?

Reading Check

What personal qualities did Napoleon possess that gained him popular support?

Napoleon's Domestic Policies

Peace With the Church

Codification of the Laws

Checkpoint

What reforms did Napoleon introduce during his rise to power?

A New Bureaucracy

Preserver of the Revolution?

Anne Louise Germaine de Staël

Reading Check

Evaluating

What was the significance of Napoleon's Code?

Napoleon's Empire

Building the Empire

Vocabulary Builder

anticipate—(an tis uh payt) vt. to foresee or expect

The Map of Europe Is Redrawn

Napoleon’s Power in Europe, 1812

Go Online
For: Audio guided tour
Visit: PHSchool.com
Web Code: nap-1841

Map Skills

Napoleon’s empire reached its greatest extent in 1812. Most of the countries in Europe today have different names and borders.

1. Locate:

(a) French empire, (b) Russian empire, (c) Germany

2. Region

Locate the Confederation of the Rhine. What is this area called today?

3. Make Comparisons

Compare Europe of Napoleon’s empire to Europe of today on the maps above. How has Europe changed?

Spreading the Principles of the Revolution

Checkpoint

How did Napoleon come to dominate most of Europe by 1812?

Reading Check

Identifying

What were the three parts of Napoleon's Grand Empire? (i.e., identify which areas or countries make up the following): French Empire, Dependent states, and States allied with Napoleon.

The European Response

Britain's Survival (Napoleon Strikes Britain)

Nelson won a decisive at Trafalgar but he only enjoyed his victory briefly as he fell mortally wounded during the battle.

Nelson's Principles of War



Animated Map: the Battle of Trafalgar

Cf. http://www.bbc.co.uk/history/british/empire_seapower/launch_ani_trafalgar.shtml

Battlefield Academy: Re-fight Trafalgar!

Cf. http://www.bbc.co.uk/history/british/empire_seapower/launch_gms_trafalgar_bfacademy.shtml


Nationalism

Nationalism Works Against Napoleon

Reading Check

Explaining

Why did being a sea power help Britain survive an attack by the French?

Spain and Austria Battle the French

The Fall of Napoleon

Disaster in Russia


Primary Source

As shown in this painting, the Russian winter took its toll on Napoleon’s army. Philippe Paul de Ségur, an aide to Napoleon, describes the grim scene as the remnants of the Grand Army returned home.

What were the effects of this disaster in Russia?


"Bienvenue, je suis Napoléon, de France, le militaire le plus intelligent de l'Histoire mondiale."

"Welcome, I am Napoleon of France, the most intelligent military man in world history."

In 1812, with about 600,000 soldiers and 50,000 horses, Napoleon invaded Russia. To avoid battles with Napoleon, the Russians retreated eastward, burning crops and villages as they went. This scorched-earth policy left the French hungry and cold as winter came. Napoleon entered Moscow in September. He realized, though, that he would not be able to feed and supply his army through the long Russian winter. In October, he turned homeward.

The 1,000-mile retreat from Moscow turned into a desperate battle for survival. Russian attacks and the brutal Russian winter took a terrible toll. Fewer than 20,000 soldiers of the once-proud Grand Army survived. Many died. Others deserted. French general Michel Ney sadly concluded: “General Famine and General Winter, rather than Russian bullets, have conquered the Grand Army.” Napoleon rushed to Paris to raise a new force to defend France. His reputation for success had been shattered.

Discovery School Channel (Video)

Watch Napoleon’s Lost Army on the Witness History Discovery School™ video program to learn about Napoleon’s invasion of Russia in 1812.

Checkpoint

What challenges threatened Napoleon’s empire and what led to the disaster in Russia?

Reading Check

Explaining

Why did Napoleon invade Russia?

The Final Defeat

The disaster in Russia brought a new alliance of Russia, Britain, Austria, and Prussia against a weakened France. In 1813, they defeated Napoleon in the Battle of the Nations at Leipzig.







Battle for Leipzig courtesy of the Hawks Club on one of their custom historical maps and historical simulations, 3:29.



After the Russian campaign and Leipzig Napoleon was finished. He was forced to abdicate, and he comforted his old guard who were his veterans and those who followed him for twenty years since the Italian campaign.

He gave his famous speech to the guard, France Has Fallen. The background music is Sigfried's Funeral March by Wagner from Twilight of the Gods, 2:54.



Napoleon Abdicates Briefly




With Napoleon's abdication (stepping down from power), the victors exiled him to Elba, an island in the Mediterranean. They then recognized Louis XVIII, brother of Louis XVI, as king of France.

The restoration of Louis XVIII did not go smoothly. He agreed to accept the Napoleonic Code and honor the land settlements made during the revolution. However, many émigrés rushed back to France bent on revenge. An economic depression and the fear of a return to the old regime helped rekindle loyalty to Napoleon.

As the victorious allies gathered in Vienna for a general peace conference, Napoleon escaped his island exile and returned to France. Soldiers flocked to his banner. As citizens cheered Napoleon’s advance, Louis XVIII fled. In March 1815, Napoleon entered Paris in triumph.

Napoleon’s triumph was short-lived. His star soared for only 100 days, while the allies reassembled their forces. On June 18, 1815, the opposing armies met near the town of Waterloo in Belgium. British forces under the Duke of Wellington and a Prussian army commanded by General Blücher crushed the French in an agonizing day-long battle. Once again, Napoleon was forced to abdicate and to go into exile on St. Helena, a lonely island in the South Atlantic. This time, he would not return.

Crushed at the Battle of Waterloo

You can learn more or prepare for the Battle of Waterloo Game by viewing the Waterloo Interactive Battle Simulator.

Waterloo Interactive Battle Simulator

If you have not prepared with the Battle Simulator the fight at Waterloo will still occur in the Game.

The Battle of Waterloo Game

Napoleon's death was not without controversy and there is evidence that he may have been poisoned (Cf. The Murder of Napoleon by Ben Weider. As a fascinating sidelight to the story of Napoleon, it appears that Count Charles-Tristan de Montholon, an aide to Napoleon and a member of the "pre-Revolutionary aristocracy" poisoned him slowly with arsenic (a poison) on St. Helena (Weider, p. 33).

Napoleon, although it was widely known that he had suffered from physical ailments his entire life (it appears to be the scratching disease, scabies, Napoleon's Glands, Arno Karlen, p. 7), had nonetheless a legendary reputation for work; yet, he succumbed at the relatively young age of 51 thus at the very least his death should raise questions.

At the time of Napoleon's death, the arsenic poisoning went unnoticed and it was not until a Swedish researcher in 1955, Sten Forshufvud, reconstructed the accounts and medical evidence of Napoleon's death that a modern, forensic connection could be established determining that Napoleon was murdered. Montholon had a motive, he was attached to the pre-Revolutionary aristocracy, and he appeared to be an agent of Count d'Artois, brother of King Louis XVIII, and later Charles X in the restored French monarchy who hated the Revolutionary Napoleon (Weider, pp. 144, 254).

Napoleon himself may have sensed something was amiss in his last days. Six days before his death he directed:

After my death, which cannot be far off. I want you to open my body. . . . I want you to remove my heart, which you will put in spirits of wine and take to Parma, to my dear Marie-Louise [Napoleon's second wife]. . . . I recommend that you examine my stomach particularly carefully; make a precise, detailed report on it, and give it to my son. . . . I charge you to overlook nothing in this examination. . . . I bequeath to all the ruling families the horror and shame of my last moments.
(Wieder, preface).

Napoleon’s Legacy

Napoleon died in 1821, but his legend lived on in France and around the world. His contemporaries as well as historians today have long debated his legacy. Was he “the revolution on horseback,” as he claimed? Or was he a traitor to the revolution?

No one, however, questions Napoleon’s impact on France and on Europe. The Napoleonic Code consolidated many changes of the revolution. The France of Napoleon was a centralized state with a constitution. Elections were held with expanded, though limited, suffrage. Many more citizens had rights to property and access to education than under the old regime. Still, French citizens lost many rights promised so fervently by republicans during the Convention.
Resources

Crushed at the Battle of Waterloo

Battles and Campaigns (Mapping History) by Malcomb Swanston, p. 107.

The Encyclopedia of Warfare by Robin Cross, Napoleon's Tactics, p. 135; on Waterloo, pp. 141-143.

Napoleon as Military Commander by James Marshall-Cornwall, pp, 263-281.

The Napoleonic Wars: an Illustrated History, 1792-1815, by Michael Glover, pp. 215-222.

Waterloo Interactive Battle Simulator

The Battle of Waterloo Game





Chapter 12 Preview

The Congress of Vienna

Prince Clemens von Metternich

As Austria’s foreign minister, Metternich (1773–1859) used a variety of means to achieve his goals. In 1809, when Napoleon seemed vulnerable, Metternich favored war against France. In 1810, after France had crushed Austria, he supported alliance with France. When the French army was in desperate retreat from Russia, Metternich became the “prime minister of the coalition” that defeated Napoleon. At the Congress of Vienna, Metternich helped create a new European order and made sure that Austria had a key role in it. He would skillfully defend that new order for more than 30 years.

A key question to consider is: why did Metternich’s policies toward France change?

Map

Europe After the Congress of Vienna, 1815

Go Online
For: Audio guided tour
Visit: PHSchool.com
Web Code: nap-1842

Map Skills

At the Congress of Vienna, European leaders redrew the map of Europe in order to contain France and keep a balance of power.

1. Locate

(a) German Confederation, (b) Netherlands, (c) Vienna

2. Region

Name three states that were in the German Confederation.

3. Recognize Cause and Effect

Why did the Congress enlarge some of the countries around France?

On the world stage, Napoleon’s conquests spread the ideas of the revolution. He failed to make Europe into a French empire. Instead, he sparked nationalist feelings across Europe. The abolition of the Holy Roman Empire would eventually help in creating a new Germany. Napoleon’s impact also reached across the Atlantic. In 1803, his decision to sell France’s vast Louisiana Territory to the American government doubled the size of the United States and ushered in an age of American expansion.

Checkpoint

How did Napoleon impact Europe and the rest of the world?

Leaders Meet at the Congress of Vienna

After Waterloo, diplomats and heads of state again sat down at the Congress of Vienna. They faced the monumental task of restoring stability and order in Europe after years of war. The Congress met for 10 months, from September 1814 to June 1815. It was a brilliant gathering of European leaders. Diplomats and royalty dined and danced, attended concerts and ballets, and enjoyed parties arranged by their host, Emperor Francis I of Austria. The work fell to Prince Clemens von Metternich of Austria, Tsar Alexander I of Russia, and Lord Robert Castlereagh of Britain. Defeated France was represented by Prince Charles Maurice de Talleyrand.





Congress Strives For Peace

The chief goal of the Vienna decision makers was to create a lasting peace by establishing a balance of power and protecting the system of monarchy. Each of the leaders also pursued his own goals. Metternich, the dominant figure at the Congress, wanted to restore things the way they were in 1792. Alexander I urged a “holy alliance” of Christian monarchs to suppress future revolutions. Lord Castlereagh was determined to prevent a revival of French military power. The aged diplomat Talleyrand shrewdly played the other leaders against one another so France would be accepted as an equal partner.

The peacemakers also redrew the map of Europe. To contain French ambitions, they ringed France with strong countries. In the north, they added Belgium and Luxembourg to Holland to create the kingdom of the Netherlands. To prevent French expansion eastward, they gave Prussia lands along the Rhine River. They also allowed Austria to reassert control over northern Italy.

To turn back the clock to 1792, the architects of the peace promoted the principle of legitimacy, restoring hereditary monarchies that the French Revolution or Napoleon had unseated. Even before the Congress began, they had put Louis XVIII on the French throne. Later, they restored “legitimate” monarchs in Portugal, Spain, and the Italian states.

Congress Fails to See Traps Ahead

To protect the new order, Austria, Russia, Prussia, and Great Britain extended their wartime alliance into the postwar era. In the Quadruple Alliance, the four nations pledged to act together to maintain the balance of power and to suppress revolutionary uprisings, especially in France. Another result of the Congress was a system known as the Concert of Europe, in which the powers met periodically to discuss any problems affecting the peace of Europe.

The Vienna statesmen achieved their immediate goals in creating a lasting peace. Their decisions influenced European politics for the next 100 years. Europe would not see war on a Napoleonic scale until 1914. They failed, however, to foresee how powerful new forces such as nationalism would shake the foundations of Europe and Latin America in the next decades.

Portrait of Louis XVIII




Checkpoint

Explain the chief goal and outcome of the Congress of Vienna.

Links, resources, and bibliographical references

Video clips about Napoleon

Map of Napoleon's Empire

Refight Trafalgar!

Napoleon's Empire in 1812

Napoleon's army retreating from Moscow

Waterloo Interactive Battle Simulator

The Battle of Waterloo Game

The Napoleonic Alliance

The Napoleonic Collection

Institute on Napoleon and the French Revolution at Florida State University

The Napoleon Foundation

The War Times Journal: Napoleonic Wars

The Napoleonic Guide
Napoleon as Military Commander by James Marshall-Cornwall

The Napoleonic Wars: an Illustrated History, 1792-1815, by Michael Glover

Napoleon's Glands and Other Ventures in Biohistory by Arno Karlen

The Murder of Napoleon by Ben Weider

Battles and Campaigns (Mapping History) by Malcomb Swanston
Resources
Chapter Review

Chapter: Know It? Show It

Radical Revolution and Reaction review

Radical Days of the Revolution

5th/8th

Cf. http://www.phschool.com/webcodes10/index.cfm?fuseaction=home.gotoWebCode&wcprefix=nba&wcsuffix=1831



"Bienvenue, je suis Napoléon, de France, le militaire le plus intelligent de l'Histoire mondiale."

"Welcome, I am Napoleon of France, the most intelligent military man in world history."



Nelson (part 1/3), 8:21





London Licks, Waterloo Sunset, Kinks, 2:38



The Kinks, Waterloo Sunset, 3:14



Napoleon on the Danny Kaye Show, 2:49

The Danny Kaye Show is an American variety show that aired on CBS from 1963 to 1967.





HW: email (or hard copy) me at gmsmith@shanahan.org.

The Quiz on Ch. 11 Sec. 2 is the last Quiz/Test for the Quarter. November HW will count for the 2nd Quarter.

Monday HW
1. p. 351, Reading Check, Explaining, Why did Napoleon invade Russia?
2. p. 351, #4-5.

Honors Business Economics: Ch. 3, 8 November 2010

Prayer:
Current Events:
http://www.youtube.com/watch?v=ys_cMmY2CNo

Nov. 5 (Bloomberg) -- Arvind Subramanian, senior fellow at the Peterson Institute for International Economics in Washington, talks about the relationship between the U.S. and India. Obama is in Asia, in India. Subramanian speaks with Susan Li on Bloomberg Television's "First Up." (Source: Bloomberg)

Germany attacks US economic policy as "clueless."

From Reuters (Germany) U.S. dollar printing is huge risk.

And, as also reported on CNBC:

Germany Concerned About US Stimulus Moves.

The Financial Times of London reports the:

Backlash against Fed’s $600bn easing.

Tim Geithner's consultation with Jon Stewart as his appointment book for the summer was just released:

Geithner Visited Jon Stewart in April according to update on web site.

Chapter 3

Business Organizations, p. 60

Section 1 Forms of Business Organization, p. 61

Most businesses operate in search of profits. Others are organized and operate like a business, although profits are not their primary concern. There are three main forms of business organization. The first is the sole proprietorship, which is a business owned and operated by one person. The second is the partnership, which is a business jointly owned by two or more persons. The third is the corporation, which is recognized as a separate entity having all the rights of an individual. The proprietorship is the most common and most profitable form of business organization. The corporation is the largest and most visible.

One is a sole proprietorship which one individual, the sole proprietor, exercises complete control over the business. Another is a partnership in which two or more individuals combine their efforts and share the profits of the business. Under both business forms, the business is an asset owned by the owner or owner, it has no existence separate from them, and any financial or legal problems encountered by the business are their responsibility. All of the owners’ assets, even those not involved in the business, are at risk. Liability is unlimited.

Chapter Three Spotlight Video




Content Vocabulary

Some Real Examples

Some Final Basics

Why It Matters Today


Corporations and Stocks game

Cf. http://www.shmoop.com/corporations-stocks/game.html



Main types of business

Types reviewed and advantages and disadvantages
In-class assignment: what are the types reviewed, what are their respective advantages and disadvantages?


Sole Proprietorship, p. 62


Partnerships

Forming a Partnership, p. 65
In-class assignment: how many "sharks" are there on the panel? We will divide the class into the same number of members in a small group. You have two tasks: one, do you think the "shark" you are representing will want to partner with the presenter? Two, would you want to partner with the presenter? We will go around the room and you can offer your assessment.

We need at least five people in each group. Each individual person should represent each one of the sharks. If your group has more than five members, more than one person can be "Barbara," or "Kevin O."

Please note that the shark you pick may drop out early in the first episode that you will see. Thus, you have to then remaining shark or sharks. The trick of course is to predict what each shark will do.

This is a brief introduction to each of the sharks. The actual show will introduce them in a bit more detail.

From right to left:
1) Robert
Internet
2) Barbara
Real estate
3) Kevin O.
Software
4) Daymond
Fashion
5) Kevin H.
Infomercials

We have viewed Shark Tank - Season 1 Episode 1 Part 1/5:

Mr. Tod's Pie Factory

In the exciting conclusion we see the response of the two remaining sharks:

Barbara and Daymond

S1 E01 Part 2/5

The sole proprietor is confronted with cold reality. Would you give up a substantial part of your business? How much?

What about Darrin Johnson and his Ionic Ear? We will hear the basic idea and then we will bail out.

Should we review and possibly partner with others?



Wispots, Kevin (view the result)

Emmy the Elephant, Tiffany; this ends after the basic introduction which will allow each shark, and everyone, to comment on Emmy.

Shark Tank - S1 E01 Part 3/5, 9:33


Can just an item be a business? Is taking a majority share of your idea worth losing control of your idea or the dreams of owning a company?

Shark Tank - S1 E01 Part 4/5, 9:24


Shark Tank - S1 E01 Part 5/5, 5:18


Advantages

Disadvantages, p. 66

Reading Check

Contrasting

What are the differences between a general partnership and a limited partnership?

Corporations, p. 67

Main Idea

What is a Corporation?, 7:15

In-class assignment:

According to this video, what is a corporation? What is it composed of? What sort of characteristics are typical of a corporation?



Forming a Corporation
A corporation is a very different type of business organization. Most significantly, a corporation is a business entity legally separated from its owners. When business owners decide to incorporate they secure a charter from the state government. This charter is like a birth certificate, establishing the existence of a new and separate legal entity. Once incorporated, the corporation can buy and sell property, enter into contracts, sue, and be sued... just like a living, breathing person.

In fact, that's what a corporation is: a legal "person." (The word "incorporate" shares the same root as "corpse"; it means something like "to give it a body.") The idea is that the corporation is a fictitious person, with many of the same rights under the law as a real person.

For the sole proprietor turned corporation, there are several benefits. Most importantly, his personal assets (home, car, boat, iPod) are no longer at risk should the corporation have problems. If the corporation is sued, only its assets are at risk. If the corporation goes broke, its creditors can only go after the corporation’s assets. As there is a legal barrier separating the corporation and its owners, the owners enjoy limited liability.

There are other benefits as well. To finance expansion, corporations may sell stock. Most corporations, in fact, do not sell stock to the public; all of the stock is privately owned. But if a company decides to expand its capital base by “going public” it issues an initial public offering or IPO. People buying the stock acquire partial ownership in the corporation. And the more shares they buy, the larger percentage of the corporation they own. Of course, this also means that the original owners also have to share profits. These may be distributed to the shareholders quarterly in the form of dividends.

Corporations may also raise money by selling corporate bonds. Like governments, corporations may issue bonds that promise repayment over a specified period at a certain interest rate.

Another benefit of turning a sole proprietorship or partnership into a corporation is that the business becomes more durable—that is, it is no longer so tied to the health of the founder. If the founder dies, the corporation lives on. Similarly, a corporation is less dependent on the talents of its founders. As corporations grow, they are governed by a board of directors elected by the shareholders. This board selects a president or CEO (chief executive officer) to manage the corporation. A sole proprietorship may have a technically brilliant but, from a business point of view, inept founder. He may turn the business over to his even more incompetent children. But the governing structure of corporations allows management to be handed over to professionally trained executives.

Why It Matters Today

Are corporations people?

The common-sense answer is no. A corporation is not, to state the obvious, actually a living human being.

But in the eye of the law, the answer is essentially yes. A series of Supreme Court decisions in the 1800s expanded the rights of corporations, eventually extending to them the crucial rights to substantive due process included in the 14th Amendment. As recently as January 2010, the Court reaffirmed that corporations have most of the rights of real people, overturning a campaign finance law on the grounds that it violated corporations' (and unions') right to free speech.
This Court decision figured prominently in the Justice Alito: State of the Union "Close-Up" (1/27/10), :17

Some people said they can read the Judge's lips; can you? What do you think he said?



Justice Alito saying, "(That's) not true" when Obama criticized the recent (and *terrible*) Supreme Court decision permitting corporations to buy unlimited ads to influence elections.

Corporate Structure

In Motion Corporate Structure


Cf. http://glencoe.com/sites/common_assets/socialstudies/in_motion_08/epp/EPP_p68.swf

Advantages, p. 68
Financially, corporations benefits from being allowed to raise capital by selling stock. In purchasing stock, stockholders become partial owners of the corporation and are entitled to a share of the profits. Corporations can also raise money by selling bonds like a government. Legally, corporations benefit from limited liability. Since the corporation is a legal entity separate from its owners, the owners’ personal assets are not placed at risk by any action taken by the corporation. Should the corporation be sued or have financial problems, only corporate assets can be seized.

Disadvantages, p. 69

Through what is commonly labeled “double taxation,” corporate profits are taxed and then, if distributed in the form of dividends, these same profits are taxed again along with the rest of the shareholder’s income.

Reading Check, p. 70

Evaluating

Why do many business owners prefer corporations over other forms of business organizations?

Entrepreneur, p. 71

Profiles in Economics

Andrea Jung

On Charlie Rose - Andrea Jung (Avon), 2:20



1. p. 71, What changes did Jung make to Avon's marketing strategy?
2. p. 71, What career steps did Jung take that allowed her to move from a degree in English literature to a top management position



Proprietorship - owned and run by a single person.

Partnership - jointly owned by two or more persons.

Corporation - business organization recognized by law as a separate legal entity with all the rights of an individual.

References

Forms of Business Organizations, Tax and Insurance Issues for Small Business, 9:56

Learn: * How to Choose a Form of Business * How it can maximize your protections and future growth potential * Characteristics of a sole proprietorship, general partnership, corporation, limited liability companies and limited liability partnerships * Whether S Corporation Tax election is right for you * What tax issues are important for small business and why * What insurance coverage every small business owner should consider

Panelists
Larissa Buerano, Agent, State Farm Insurance

Rajeev Kaul, CPA, PC.

Joyce Moy, Executive Director, Asian American / Asian Research Institute - CUNY



My Own Business: A course on how to start a business

Chapter 3: Business Organizations
Self-Check Quizzes


Crossword Puzzle

Vocabulary eFlashcards
Show Business is the Federal Reserve Bank of Boston's learning activity on economics and the entertainment industry. The goal is to provide an additional tool for teaching and learning about basic economic concepts, with some economic history snuck in.

Cf. http://www.bos.frb.org/entertainment/index.htm
JA Titan
Test your skills running a business in this ultimate business simulation! As CEO, you will match wits in the competitive, technologically advanced industry of the Holo-Generator™.Cf. http://oldtitan.ja.org/home.php

Corporations and Stocks game

Cf. http://www.shmoop.com/corporations-stocks/game.html

A music video from School House Rock on investing and Wall Street.

Cf. http://www.shmoop.com/corporations-stocks/botw/resources?d=http://www.gamequarium.org/cgi-bin/search/linfo.cgi?id=3797

Preview

Ch. 3 Sec. 2 Business Growth and Expansion

Honors Business Economics Chapter 3 Section 2 Business Growth and Expansion
Guide to Reading

Section Preview

Content Vocabulary

Academic Vocabulary

Reading Strategy

Comparing

Companies in the News

Reinvesting for Monster Growth

Growth Through Reinvestment

Main Idea

Economics and You

Estimating Cash Flows

Reinvesting Cash Flows

Reading Check

Summarizing

What is the benefit of reinvesting cash flow in a business?

The Global Economy and You

Know Your Manners

Growth Through Mergers

Main Idea

Economics and You

Types of Mergers

Reasons for Merging

Conglomerates

Multinationals

Reading Check

Contrasting

How do conglomerates and multinationals differ?

Case Study

7-Eleven
Preview

Honors Business Economics Chapter 3 Section 2 Business Growth and Expansion

Guide to Reading

Section Preview

Content Vocabulary

Academic Vocabulary

Reading Strategy

Comparing

Companies in the News

Reinvesting for Monster Growth

Growth Through Reinvestment

Main Idea

Economics and You

Estimating Cash Flows

Reinvesting Cash Flows

Reading Check

Summarizing

What is the benefit of reinvesting cash flow in a business?

The Global Economy and You

Know Your Manners

Growth Through Mergers

Main Idea

Economics and You

Types of Mergers

Reasons for Merging

Conglomerates

Multinationals

Reading Check

Contrasting

How do conglomerates and multinationals differ?

Case Study

7-Eleven




Figure 3.4 Growth Through Reinvestment, p. 73

Cf. http://glencoe.com/sites/common_assets/socialstudies/in_motion_08/epp/EPP_p73.swf

Money (That's What I Want), 2:36

Barrett Strong recorded this in 1959 for Motown records, it reached number 2 on the R&B charts and 23rd on the US Pop charts making it Motown's first hit. Barrett Strong later went on to become one of Motown's most famous song writers.

http://www.youtube.com/watch?v=z6xkT7FMyTc

Beatles, You Never Give Me Your Money, 3:26



Resources

HW email to gmsmith@shanahan.org or hand in hard copy.
Monday HW
1. p. 66, Reading Check, Contrasting, What are the differences between a general partnership and a limited partnership?
2. p. 67, What is the relationship between a divided and a stockholder?
3. p. 67, Howe does common stock differ from preferred stock?

Honors World History II: HW for Next Week, Mon. - Fri.

Honors World History II: HW for Next Week, Mon. - Fri.
Monday HW
1. p. 351, Reading Check, Explaining, Why did Napoleon invade Russia?
2. p. 351, #4-5.
Tuesday HW
1. p. 351, #6-7
Wednesday HW
1. p. 351, #8
Thursday HW
1. p. 351, #9
Friday HW
1. Just write the word, not the entire sentence: p. 352, #1-10.

Honors Business Economics Homework for Next Week

Honors Business Economics Homework for Next Week
Monday HW
1. p. 66, Reading Check, Contrasting, What are the differences between a general partnership and a limited partnership?
2. p. 67, What is the relationship between a divided and a stockholder?
3. p. 67, How does common stock differ from preferred stock?
Tuesday HW
1. p. 68, Figure 3.3, Who does the president hire?
2. p. 68, Who reports directly to the vice president of production?
3. p. 68, Write a paragraph, using your own words, that explain the typical structure found in a corporation. Refer to the text and the Corporate Structure illustration.
Wednesday HW
1. p. 69, Double Taxation Cartoon: Why are people interested in owning stock when they have to pay so much in taxes?
2. p. 69, Explain the meaning of the cartoon.
3. p. 69, Why do you think stockholders might hire the services of stockbrokers?
Thursday HW
1. Reading Check, p. 70, Evaluating, Why do many business owners prefer corporations over other forms of business organizations?
2. p. 71, What changes did Jung make to Avon's marketing strategy?
3. p. 71, What career steps did Jung take that allowed her to move from a degree in English literature to a top management position?
Friday HW
1. p. 73, Figure 3.4, Growth Through Reinvestment, Which of the items on the income statement represents the real measure of profits for the business?
2. p. 73, What are two things that a business can do with its cash flow?

Honors Business Economics Chapter 3 Section 2 Business Growth and Expansion

Honors Business Economics Chapter 3 Section 2 Business Growth and Expansion
Guide to Reading

Section Preview

Businesses can expand in many different ways. One way is through reinvesting internally generated funds, which can also be paid out to the owners in the form of dividends. Another way is through combinations called mergers. Two kinds of mergers, horizontal mergers and vertical mergers, take place for a number of reasons. Some firms merge to become bigger or more efficient. Others merge to eliminate their rivals or to change corporate identity. Some mergers may result in a conglomerate, or even a multinational if the business has manufacturing or service operations in a number of different countries.

Content Vocabulary

merger

The consolidation of two separately-owned businesses under single ownership. This can be accomplished through a mutual, "friendly" agreement by both parties, or through a "hostile takeover," in which one business gets ownership without cooperation from the other. Mergers fall into one of three classes -- (1) horizontal--two competing firms in the same industry that sell the same products, (2) vertical--two firms in different stages of the production of one good, such that the output of one business is the input of the other, and (3) conglomerate--two firms that are in totally, completely separated industries.

income statement

A statement of the revenues, expenditures, and profit for a business, household, or government entity over a given period of time. An income statement also goes by the names profit and loss statement, earnings report, and operating statement. This is one of two key financial statements for an entity. The other is a balance sheet, which is a statement of assets, liabilities, and net worth at a given point in time.

net income

A common term for profit, as the difference between total revenue and total cost. When used in the real world of business wheeling and dealing, this notion of net income general refers to accounting profit rather than economic profit. The "net" aspect of net income indicates that some (that something being cost) is deducted from total or "gross" income. Other common terms used in this same context are net revenue and net earnings.

depreciation

A more or less permanent decrease in value or price. "More or less permanent" doesn't include temporary, short-term drops in price that are common in many markets. It's only those price declines that reflect a reduction in consumer satisfaction. While all sorts of stuff can depreciate in value, some of the more common ones are capital, real estate, corporate stock, and money. The depreciation of capital results from the rigors of production and affects our economy's ability to produce stuff. A sizable portion of our annual investment is thus needed to replace depreciated capital. The depreciation of a nation's money is seen as an increase in the exchange rate.

cash flow

horizontal merger

The consolidation under a single ownership of two separately-owned businesses in the same industry. An example of a horizontal merger would be two soft drink companies merging to form a single firm. A horizontal merger should be contrasted with vertical merger--two firms in different stages of the production of one good, such that the output of one business is the input of the other; and conglomerate merger--two firms in totally, completely separate industries.

vertical merger

The consolidation under a single ownership of two separately-owned businesses that have an input-output relationship, in which the output of one firm is the input of another. An example of a vertical merger would be a soft drink company merging with a sugar company to form a single firm. A vertical merger should be contrasted with horizontal merger--two competing firms in the same industry that sell the same products; and conglomerate merger--two firms in totally, completely separate industries.

conglomerate

multinational

Academic Vocabulary

Reading Strategy

Comparing

Companies in the News

Reinvesting for Monster Growth

Growth Through Reinvestment

Main Idea
Economics and You

Estimating Cash Flows

Reinvesting Cash Flows

Reading Check

Summarizing

What is the benefit of reinvesting cash flow in a business?

The Global Economy and You

Know Your Manners

Growth Through Mergers

Main Idea

Economics and You

Types of Mergers

Reasons for Merging

Conglomerates

Multinationals

Reading Check

Contrasting

How do conglomerates and multinationals differ?

Case Study

7-Eleven