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business
contemporary business
Questions and Answers of
Contemporary business
What is empowerment?
What are the five types of teams, and how are they different?
Explain how teams progress through the stages of team development.
Find a classmate or friend who is on a team—sports, speech and debate, math, or any other type of team. Go through the five stages of team development that teams typically progress
Is teamwork more important than skill? In pairs or in groups, discuss the importance of an organizational culture that includes teamwork and collaboration over an organization that lacks such traits.
On your own or with a classmate, visit the college library, a mall, or anywhere else on or off campus where people gather. For about 10 or 15 minutes, observe the nonverbal cues that people give each
Every day we hear news about companies in crisis. Either online or through media reports, find and research a recent event and how the company used external communication to address the crisis.Review
Team-building exercises. The website Team-Building-Bonanza.com calls itself “the motherlode of corporate team building ideas.” You are asked select a team-building exercise to help resolve
Apologizing can be difficult, but it certainly can help when resolving conflicts. In a business setting, there can be strategic reasons for extending an apology. If you've made a mistake that you
Teamwork at Whole Foods. Go to the Whole Foods website and learn more about the importance of teams and teamwork on the “Company Mission and Values” page. Along with additional research, if
The Ritz-Carlton Hotel Company is known for its 91 luxury resorts in 30 countries—and 40,000 employees whose top mission is the genuine care and comfort of its guests. The Ritz-Carlton philosophy
You might not immediately associate transparency and communication with the look or layout of a company's workspace. At Yelp, a company that publishes crowdsourced reviews about local businesses, an
If you've ever received a box of candy hearts imprinted with cute sayings for Valentine's Day, you know about the New England Confectionery Company, or Necco for short. Behind the scenes of the
List some of the benefits of acquiring ISO 9000-certification.
Identify which production system—analytic or synthetic—applies to each of the following products:a. loggingb. healthcarec. soybean farmingd. fishinge. a smart phone
SeaWorld amusement parks are located in Florida, Texas, and California. What specific factors might have contributed to those choices?
What would be the best facility layout for each of the following?a. a tax preparation businessb. nail salonc. car washd. sandwich shop
In groups or in pairs, compare your backpacks, handbags, and any articles of clothing or shoes. Can you determine from the item's label where it was manufactured? What type of production process do
With a partner or in small teams, discuss the impact , if any, on quality when a company decides to outsource the production of its goods or services. Is domestic production always a sure sign that
With same-day and one-hour delivery services from Amazon and Google commonplace, discuss whether this fulfillment model is long lasting or just a passing trend. Discuss the types of products that
Starbucks has declared that when multiplying its core beverages by its modifiers and customization options, there are over 80,000 drink combinations.While this might be an extreme case, go online to
Search for Toyota and Mazda's recent decision to build a plant in Huntsville, Alabama (which will produce over 300,000 cars and SUV's a year and employ 4,000 people).Research the decision and prepare
Discuss and give examples of the benefits realized by companies involved in reshoring—bringing manufacturing and production work back to the United States. Study the website below and discuss some
What activity lies at the center of every business endeavor?
What is the primary objective of a not-for-profit organization?
What is the difference between transaction management and management in the relationship era?
Why is vision an important managerial quality?
What is the difference between creativity and critical thinking?
In what ways are not-for-profit organizations a substantial part of the U.S. economy? What unique challenges do not-for-profits face?
Identify the seven eras of business in the United States. How did business change during each era?
Identify the major changes in the workforce that will affect the way managers build a world-class workforce. Why is the knowledge economy so important?
Identify four qualities that managers of the 21st century must have. Why are these qualities important in a competitive business environment?
The entrepreneurial spirit fuels growth in the U.S. economy. Choose a company that interests you—one you have worked for or dealt with as a customer—and read about the company by visiting its
Branding distinguishes one company's goods or services from those of its competitors. Each company you purchase from hopes that you will become loyal to its brand. Some well-known brands are Amazon,
More and more businesses are forming strategic alliances to become more competitive. Sometimes, businesses pair up with not-for-profit organizations in a relationship that is beneficial to both.
This chapter describes how the nature of the workforce is changing: the population is aging, the labor pool is shrinking, the workforce is becoming more diverse, the nature of work is changing, the
Today's business leaders must guide their employees and organizations through the changes brought about by technology, marketplace demands, and global competition. Choose a for-profit or
General Electric, who manufactures water heaters, among many other products, has recently moved production back to the United States from China. As global economic conditions have changed,
In addition to companies, virtually all not-for-profit organizations have websites. Four websites are listed below, two for companies (Lululemon and Best Buy) and two for not-for-profits (Mayo Clinic
Visit the website for the U.S. Bureau of Labor Statistics—a good source of basic demographic and economic data. On the home page, scroll down to the Career Information box and click on
Stricken with childhood polio, Frank C. Mars learned the art of hand dipping chocolate in his mother's kitchen and went on to start Mars back in the early 1900s. A privately held business in its
A little over two decades ago, Jack Ma founded Alibaba Group in his Hangzhou apartment. Alibaba includes an online payment system, Alipay, and two ecommerce sites, Tmall and Taobao. Valued at close
At TripAdvisor, a global travel website with user-generated reviews and opinions, competition within the global travel industry remains cutthroat and intense. Steve Kaufer is the co-founder and CEO
If a company is meeting all its responsibilities to others, why do ethical conflicts arise?
What role can an ethics compliance officer play in a company?
What are the three components of a typical company's approach to ethics and social responsibility?
Identify the four levels of a company's ethical environment.
What is meant by social responsibility, and why do companies exercise it?
What are the four main consumer rights?
Why do companies need to do more than just earn a profit?
What is the role of the Securities and Exchange Commission?
In what ways do individuals make a difference in a company's commitment to ethics? Describe the three stages in which an individual develops ethical standards.
What type of ethical dilemma does each of the following illustrate?(A situation might involve more than one dilemma.)a. Due to a corporate merger, an advertising agency suddenly finds itself
Describe how ethical leadership contributes to the development of each of the other levels of ethical standards in a corporation.
In what ways do companies demonstrate their social responsibility?
Take the company you chose for question 2 (or choose another), and search for information about the company's social and environmental responsibility practices. Some companies publish annual
Warren Buffett is a world-famous investor and CEO of conglomerate Berkshire Hathaway, which includes companies as diverse as Kraft Heinz, Geico Auto Insurance, and Benjamin Moore Paints. Buffett
As technology becomes more pervasive, new and complex ethical issues have arisen in the workplace, which have contributed to ethical and, at times, legal challenges for employers and
Go to the Boeing website and review its supplier page listed below. With more than 23,000 different suppliers listed, review and list the criteria and expectations Boeing uses when choosing
People volunteer for a variety of reasons. Visit the following website and choose a few of the organizations that interest you. List some of the reasons you might volunteer with each of the selected
Go to the National Whistleblowers Center website to outline and discuss the rights of whistleblowers (FAQ page under “Resources” tab). Either in small groups or individually, prepare a report
If you've ever wondered how much your boss or co-workers make, you would know if you worked at Whole Foods. While most companies keep salary information confidential, the Austin, Texas–based
In an effort to solve some of the world's most pressing problems, Mark Zuckerberg and his wife Dr. Priscilla Chan created a philanthropic organization to pledge 99% of their shares in Facebook. The
Timberland got its name from the iconic yellow work boot introduced more than four decades ago. Nathan Swartz founded the company in South Boston as the Abington Shoe Company, and he set out to
Define microeconomics and macroeconomics
On which economic system is the U.S. economy based?
Describe two ways in which global expansion can benefit a U.S. firm.
Describe the four different types of competition in the private enterprise system. In which type of competition would each of the following businesses be likely to engage?a. United Airlinesb. small
What are the four stages of the business cycle? In which stage do you believe the U.S. economy is now? Why?
Choose one of the following products and describe the different factors that you think might affect its supply and demand.a. Nike running shoesb. the latest smart phone releasec. web conference
Go online to research one of the following government agencies—its responsibilities, its budget, and mission. Then make the case for privatizing it:a. Veterans Administrationb. Bureau of the
Some businesses automatically experience seasonal unemployment. More and more, however, owners of these businesses are making efforts to increase demand—and employment—during the off season.
On your own or with a classmate, go online to research the economy of one of the following countries. You may use the World Factbook website (http://www.cia.gov) to learn about the type of economy
Go to the Federal Reserve Bank of Minneapolis website listed below to see the calculator called “What is a dollar worth?” You can also download the feature as a free app. The calculator allows
In the United States, the Bureau of Labor Statistics (BLS) compiles and publishes data on unemployment. Go to the BLS website and click on “Unemployment” (under “Subjects”). Read through the
Go to the U.S. Debt Clock website to see the dizzying array of real-time estimates of debt. This website was created by an individual who wanted to alert people to the amount of debt in the United
With an anticipated population increase of 2 billion by 2050, global demand for food is increasing. Go online to conduct current research on supply and demand with regard to the agricultural market,
Sysco, the country's largest food distributor to hotels, restaurants, and other food-service operations, tried to acquire rival US Foods for \($8.2\) billion. As part of its overall strategic plan,
If you have a cash flow issue and a rare piece of art you can do without, consider checking out what was once thought of as a lender of last resort. People facing layoffs with depleted savings, or
Just about everyone remembers a favorite comic book from childhood—whether it was Spiderman, Tintin, or even Garfield. Leon Avelino and Barry Matthews readily acknowledge that they are kids in
What is a multidomestic business strategy? What are its advantages?
Why have developing countries such as China and India become important international markets?
Use the most recent edition of “The Fortune Global 500,” which usually is published in Fortune magazine in July, or go to Fortune's online version at http://fortune.com.a. On what data is the
Visit the website of the World Trade Organization.Research two current trade disputes. Which countries and products are involved? What, if anything, do the two disputes have in common? What
What does “Made in the USA” really mean, and how does one know whether the many parts that go into assembling a product are actually all made in the United States? The Federal Trade Commission
Nike is one of the world's largest and best-known global corporations. Visit the company's website. Where is the company headquartered? What are its products? Where are they manufactured? As a global
If you've looked around your neighborhood or college campus, you may have noticed more bicycles—and the increased popularity of custom-designed bicycles. A recent report indicates that 34% of
According to the Cancer Institute and Hospital in Beijing, the five-year survival rate for cancer patients in China is 30%, as compared to 70% in the United States. To tap into the healthcare market
Can you guess which global travel website has over 600 million reviews and opinions; contains 60 million photos from travelers worldwide; and includes more than 7.5 million hotels, bed and
How does the Small Business Administration (SBA) define small business?
What are the three key ways in which small businesses contribute to the economy?
What percentage of small businesses remain in operation five years after starting? Ten years?
What are the various ways the SBA helps small businesses?
What are business incubators?
What are the benefits to both parties of franchising?
What are the potential drawbacks of franchising for both parties?
What is the main characteristic of a not-for-profit corporation?
Distinguish between a merger and an acquisition.
Research a large company to find out more about its beginnings as a start-up or small business. Who founded the company? What were the company's original offerings, and how do they differ today?
Go to the website for Entrepreneur and research information on “Franchise 500,” the magazine's top franchises. Choose one that interests you and evaluate the information about its start-up
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