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business essentials

Questions and Answers of Business Essentials

5. From an ethical standpoint, what does your group conclude is the most appropriate action that should be taken by the company In this situation? The Situation The top management team of a
4. Appoint someone to record main points of agreement and disagreement within the group. How do you explain the results? What accounts for any disagreement? The Situation The top management team of a
3. Gather your group together and revea~ in tum, each member's comments on James Smith's suggestion.Next, reveal the ethical issues listed by each member The Situation The top management team of a
2. Before hearing any of your group's comments on this situation, and from the perspective of your assigned role, decide what are the underlying ethical issues in this situation. Write down the
1. Before hearing any of your group's comments on this situation, and from the perspective of your assigned role, decide whether James Smith's suggestion regarding ignoring pollution standards is a
5. McGinty believes that power language differs from company to company and that It is linked to the corporate culture. Do you agree, or do you believe that people express themselves in similar ways
4 . In our age of computers and email, why do you think personal presentation continues to be Important in management? Goal To encourage students to appreciate effective speaking as a critical human
3. Do you agree or disagree with McGinty that business success depends on gaining insight into your own language habits? Explain your answer. Goal To encourage students to appreciate effective
2. How do you evaluate yourself and group members in terms of powerful and powerless speech? Ust the strengths and weaknesses of the group. Goal To encourage students to appreciate effective speaking
1. How do you think the power content of speech affects a manager's ability to communicate? Evaluate some of the ways in which effects may differ among supervisors, peers, and subordinates. Goal To
10. Select any group of which you are a member (your company, your family, your church, or a club). Explain the relevance of the management functions of planning, organizing, directing, and
9. Choose two companies in the same industry-for example, fast food, electronics, retailing-and compare and contrast the corporate cultures of the two companies.
8. Review the example of the decisions made by Airbus and Boeing regarding new large aircraft. Then research the most current information on the status of the two planes. Which company seems to have
7. Interview an administrator at your college or university.Ask the administrator to give his or her views on the college or university's strengths and weaknesses, and on the threats and
6. Consider the various corporate-level strategies discussed in the text (concentration, growth, integration, diversification, investment reduction). What is the relationship between these various
5. What differences might you expect to find in the corporate cultures of a 100-year-old manufacturing firm based in Winnipeg and a five-year-old e-commerce firm based in Ottawa?
4. Can you identify any organizations where the technical skills of top managers are more important than human relations or conceptual skills? Can you identify organizations where conceptual skills
3. Identify the managers by level and area at your college or university.
2. What is the relationship between Mintzberg's roles of management and the more traditional functions of management? Use examples to clarify your answer.
1. How are the five basic management skills related to the four functions of management? Give several specific examples.
1. What are the key differences between the various types of corporate and business-level strategies?Which strategies is Photo-Kicks pursuing? The feature films The Red Canvas and Way of the Guardian
3. What are the advantages of the government setting emission reduction targets? What are the disadvantages? The publishing business is dealing with significant changes that will require serious
2. What difficulties might Rona encounter as it tries to reach the goal of having 25 percent of its total wood sales come from forests that are certified by the Forest Stewardship Council? The
1. What are the advantages associated with setting green goals? Are there disadvantages? Explain. The publishing business is dealing with significant changes that will require serious strategic
2. Why do you think managers spend less time on"people management" than they think they should, and more time on administrative tasks than they think they should? Henry Mintzberg of McGill University
1. Why is the work of managers important? Henry Mintzberg of McGill University conducted a detailed study of the work of five chief executive officers and found that managers work at an unrelenting
Explain the idea of corporate culture and why It is important.
Discuss contingency planning and crisis management in today's business world .
Explain the importance of goal setting and strategic management in organizational success.
Describe the five basic management skills.
Identify types of managers by level and area.
Describe the four activities that constitute the management process.
3. Consider the following statement: " Mompreneurs say they want to spend mon~ time with their children, but many hours of hard worlc are required each day In order to make a new business
2. Why do you think that so much publicity is currently being given to mompreneurs? Why is s o little publicity given to "dadpreneurs"? The term "mompreneur" is often used to describe women who are
1. What are the advantages and disadvantages of being a mompreneur? The term "mompreneur" is often used to describe women who are trying to take care of kids and run a business at the same time. But
4 . Using the three-step model proposed in Chapter 3, analyze this situation. What conclusions do you reach? In 2007, four members of the RCMP went public with charges o f fraud, misrepresentation,
3. What is meant by the term "whistleblowing"?Why do whistleblowers so often get into trouble when they point out questionable organizational practices? In 2007, four members of the RCMP went public
2. Briefty describe the four criteria that can be used when trying to make an ethical decision. Which of these criteria is most relevant in the RCMP situation described above? Why? In 2007, four
1. Define ethics. Explain how this Idea is relevant for the situation at the RCMP. In 2007, four members of the RCMP went public with charges o f fraud, misrepresentation, corruption, and nepotism
Step 2 Once you have the Business Plan Student Template file, you can begin to answer the following questions in Part 1: The Contemporary Business World.1. What is the name of your business?Hint When
To complete this assignment, you first need to download the Business Plan Student Template file from the book's MyBusinessLab. This Is a Microsoft Word file you can use to complete your business
4. Do you think that Bombardier will be successful in its move to capture a share of this new grCNVing market?Explain your answer. If yes, what are some of the long-term obstacles? Montreal-based
3. How does this case help demonstrate the important role of the WTO in the international business arena? Montreal-based Bombardier Inc. is a diversified Canadian company that specializes in
2. What role will governments play in the success and failure of the CSeries aircraft? Identify the role of subsidies and debate the concept of free trade and protectionism as it relates to this
1. How does Bombardier's development of the CSeries aircraft highlight the challenges and opportunities of globalization? Montreal-based Bombardier Inc. is a diversified Canadian company that
6. Develop a group response to the following question:Can your team Identify other solutions that might help satisfy both senior managers' views?
5. From an ethical standpoint, what does your group conclude is the most appropriate action for the bank to take in this situation?
4. Appoint someone to record the main points of agreement and disagreement within the group. How do you explain the results? What accounts for any disagreement?
3. Gather your group together and reveal, in tum, each member's comments on whether the call centre should be outsourced immediately. Next, reveal the ethical issues listed by each member.
2. Before discussing the situation with your group, and from the perspective of your assigned role, decide what underlying ethical issues, if any, there are in this situation. Write down the issues.
1. Before discussing the situation with your group, and from the perspective of your assigned role, decide whether the call centre should be outsourced immediately.Write down the reasons for your
6. With Lang's goals of creating a global company, can INDE continue to be a one-person operation? Goal To encourage students to apply global business strategies to a small-business
5. Do you think Lang ' s relocation to Italy will pay off?Why or why not?Goal To encourage students to apply global business strategies to a small-business situation.Situation Some people might say
4. The American consulate has given Lang little business help because her products are made in Italy. Do you think the consulate's treatment of an American businessperson Is fair or unfair? Explain
3. When Lang deals with Italian manufacturers, she is a young, attractive woman in a man' s wor1d. Often, she must convince men that her purpose is business and nothing else. How should Lang handle
2. Lang thinks that her trouble breaking into the U.S.retail market stems from the fact that her company is unknown. How would this circumstance affect the strategies suggested in Steps 1 and 2? Goal
1. What are the most promising steps that Lang can take to grow her business? What are the least promising? Goal To encourage students to apply global business strategies to a small-business
1. The decision to "go international" requires a high degree of analysis and examination of factors both internal and external to the business. Assess EPIC's form of competitive advantage, level of
2. Should the Eurozone partners expel members from the EU who do not meet the financial criteria set out by the EU? Explain. P-1-1- G-S! You would expect to hear this sort of language in an
1. Should the Eurozone partners allow one of their members to face the consequences of its economic problems on their own? Debate the pros and cons. P-1-1- G-S! You would expect to hear this sort of
Explain how free trade agreements assist world trade.
Describe some of the ways In which social, cultural, economic, legal, and political differences act as barriers to International trade.
Discuss the factors involved in conducting business internationally and in selecting the appropriate levels of international involvement and organizational structure.
Explain how different forms of competitive advantage, import-export balances, exchange rates, and foreign competition determine how countries and businesses respond to the international environment.
Describe the rise of international business and identify the major world marketplaces.
Define the nature of U.S. business and identify its main goals and functions.
Describe the external environments of business and discuss how these environments affect the success or failure of any organization.
Describe the different types of global economic systems according to the means by which they control the factors of production.
Show how markets, demand, and supply affect resource distribution in the United States, identify the elements of private enterprise, and explain the various degrees of competition in the U.S.
Explain the importance of the economic environment to business and identify the factors used to evaluate the performance of an economic system.
What are the economic indicators most directly affected by energy prices?
Does the global energy situation increase or decrease your confidence in a capitalistic system based on private enterprise?
Define the nature of U.S. business and identify its main goals and functions.
Describe the external environments of business and discuss how these environments affect the success or failure of any organization.
Describe the different types of global economic systems according to the means by which they control the factors of production.
Show how markets, demand, and supply affect resource distribution in the United States, identify the elements of private enterprise, and explain the various degrees of competition in the U.S.
Explain the importance of the economic environment to business and identify the factors used to evaluate the performance of an economic system.
What is a demand curve? A supply curve? What is the term for the point at which they intersect?
What is GDP? Real GDP? What does each measure?
Why is inflation both good and bad? How does the government try to control it?Questions for Analysis
In recent years, many countries that previously used planned economies have moved to market economies. Why do you think this has occurred? Can you envision a situation that would cause a resurgence
Cite an instance in which a surplus of a product led to decreased prices. Cite an instance in which a shortage led to increased prices. What eventually happened in each case? Why?
At first glance, it might seem as though the goals of economic growth and stability are inconsistent with one another. How can you reconcile this apparent inconsistency?Application Exercises
What are the underlying ethical issues?
Before hearing any of your group’s comments on this situation, and from the perspective of your assigned role, which of the three options do you think is the best choice? Write down the reasons for
Before hearing any of your group’s comments on this situation, and from the perspective of your assigned role, what are the underlying ethical issues, if any, in this situation?Write down the
Gather your group together and reveal, in turn, each member’s comments on the best choice of the three options. Next, reveal the ethical issues listed by each member.
Appoint someone to record main points of agreement and disagreement within the group. How do you explain the results? What accounts for any disagreement?
From an ethical standpoint, what does your group conclude is the most appropriate action that should have been taken by the hotel in this situation?
Develop a group response to the following question: Can your team identify other solutions that might help satisfy both extreme views?
Describe the impact of the external environment on a business.
Identify factors that influence demand and supply curves and the equilibrium price.
Understand the impact of the business cycle.
What are the major elements of the external environment?Of these, which is most important to BancFirst?
What are the factors that caused the demand curve for houses to shift to the right? How did this affect the equilibrium price?
Which factors created a shift in the supply curve? How did this affect the equilibrium price for houses?
There are four stages in the business cycle: prosperity, recession, depression, and recovery. Where was the U.S. economy when the housing crisis began? Where are we today?
The U.S. government “bailed out” a number of banks during this crisis. Do you think that this prevented a depression? Do you think that this is the proper role of government?
Explain how individuals develop their personal codes of ethics and why ethics are important in the workplace.
Distinguish social responsibility from ethics, identify organizational stakeholders, and characterize social consciousness today.

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