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business
business essentials

Questions and Answers of Business Essentials

How might Netflix use each element of the promotional mix? Which are most and least important? Why?
Describe the advertising mix being used in Hollywood’s new marketing campaign for classic movies.
What are the main reasons for the new campaign? How do you recommend they measure results?
Where do DVD and Blu-ray discs fit in the product life cycle? How does this influence the marketing mix?
Who is the target market for Warner Bros. with their new subscription streaming service for classic TV shows and movies? What challenges do you expect that they will face?
Describe your target market in terms of age, education level, income, and other demographic variables.Hint: Refer to Chapter 11 for more information on the aspects of target marketing and market
Describe the features and benefits of your product or service.Hint: As you learned in Chapter 11, a product is a bundle of attributes—features and benefits. What features does your product
How will you make your product stand out in the crowd?Hint: There are many ways to stand out in the crowd, such as a unique product, outstanding service, or a great location. What makes your great
What pricing strategy will you choose for your product, and what are the reasons for this strategy?Hint: Refer to Chapter 12 for more information on pricing strategies and tactics. Because your
Where will customers find your product or service? (That is, what issues of the distribution mix should you consider?)Hint: If your business does not sell its product directly to consumers, what
How will you advertise to your target market? Why have you chosen these forms of advertisement?Hint: Marketers use several different advertising media—specific communication devices for carrying a
What other methods of promotion will you use, and why?Hint: There’s more to promotion than simple advertising.Other methods include personal selling, sales promotions, and publicity and public
What is a distribution channel? Describe the major types of distribution channels. Which distribution channels would be most appropriate for intensive, exclusive, and selective distribution and why?
Why is physical distribution considered to be a marketing decision? How does a company’s decision to use public or private warehouses affect their operations? Similarly, how does the selection of a
Discuss the impacts information technology (IT) has had on the business world.
Explain how an organization can use mass customization.
What is ERP and how has the Internet and improved IT made it possible?
What use might an organization have for VSAT?
What can a Trojan horse do to a computer network?
What is the purpose of spyware and what information does it collect?QuESTIoNS For ANALySIS
What does CAM do and how can an organization use this as the basis of its production processes?
Consider your daily activities—as a consumer, student, parent, friend, homeowner or renter, car driver, employee, and so forth—and think about the ways that you are involved with IT systems. Make
After reading the first section of this chapter, consider how IT has changed the business of higher education.Identify at least three functions, services, or activities that would not have been
In what ways do you expect IT will enable collaboration among your employees? Identify examples of occasions where IT will be useful for providing remote access between employees, and remote access
At what stage of your company’s development will you begin planning for its information system(s), if any?Discuss the technical skills and information-management skills necessary for determining
Based on your findings for Question 14-13, where will your company get the skills and resources for IS development and implementation? Have you included the anticipated costs for developing the
What measures, if any, will you take for protecting against intrusions into your company’s IT system? What actions will be taken to prevent unauthorized access to information of customers,
Many of the company’s employees work from home.What benefits can the company and employee expect from allowing employees to do so? Are there some jobs where working from home is not appropriate?
The company has not had a consistent policy about the technology for those working from home. Should the company provide employees with a computer to use in their home office, or is this a
How will you provide technical support to employees working from home? Would this be easier if the company provided the employee with a computer? Why or why not?
Are there additional data security risks with employees working from home? Describe the potential risks or concerns and how they might be addressed.
Briefly outline the policies, procedures, and guidelines that your department should propose in your first year on the job.
Do you think that the company is wise to monitor employees in this manner? Why or why not?
If you discovered that an employee accessing confidential or sensitive data outside the safety of the workplace what would your reaction be?
Think about recent spam e-mails and text messages that you have received. What kinds of information were the intruders seeking?
Were you able to identify the e-mails and messages as“scams” before opening them, or did you discover their real contents after you opened them? What might have alerted you to the risks?
Consider the various IT systems you use daily. What kinds of protection do they have to protect against invasion by cyber pirates?
In what ways are the IT developments for health care presented in this case changing the activities, services, and organizational practices of hospitals and clinics?Explain your responses and give
How might doctors and hospitals change their marketing strategies as a result of these innovations?
How has information technology changed the way that organizations do business? In what ways has IT helped companies become more efficient and effective? What challenges are created by advances in IT?
Some of the risks with IT include intrusions and abuses by outsiders and the damages that can result from those activities. Organizations are continuously seeking ways to protect against those risks.
Describe the responsibilities of a financial manager.
Distinguish between short-term (operating) and long-term(capital) expenditures.
Identify four sources of short-term financing tor businesses.
Distinguish among the various sources of long-term financing and explain the risks involved in each.
Discuss some key issues in financial management for small businesses.
Explain how risk affects business operations and identity the five steps in the risk-management process.
1. What possible sources of financing are available to 55-Alive!?The social networking site Facebook began specifically for college students, and over 80 percent of its users are under the age of 35.
2. How important is it that Kelly and Jeff develop a business plan to help secure this money?The social networking site Facebook began specifically for college students, and over 80 percent of its
1. Choose two consumer products that you use and come up with specific suggestions for pursuing accountability in the way that Cook did for his company's products. Be specific. After deciding to hold
2. Does Cook's view of " accountability" seem extreme? Is there a downside to such aggressive accountability? After deciding to hold himself accountable for designing new products, Scott Cook created
1. In what ways do the two sources of debt financing differ from each other? How do they differ from the two sources of equity financing?
2. Describe the relationship between investment risk and return. In what ways might the risk-return relationship affect a company's financial planning?
4. How would you decide on the best mix of debt and equity for a company?
5. Why would a business "factor" its accounts receivable?
7. Interview the owner of a small local business. Identify the types of short-term and long-term funding that this firm typically uses. Why has the company made these particular financial management
8. Interview the owner of a small local business. Ask this person to describe the risk-management process that he or she follows. What role, for example, is played by risk transfer? Why has the
9. Go to Sedar.com and find the balance sheets of two corporations operating in the same industry.Determine the relative emphasis each company has placed on raising money through debt versus
10. Interview a risk manager of a large firm and ask him or her the following questions: What risks do you think your firm faces? How does your firm manage these risks? How have your policies changed
1. Were there common themes in the "big stories" in financial management?To encourage students to gain a better understanding of the major financial and risk-management issues that face large
2. What have the various companies done to minimize future risks and losses?To encourage students to gain a better understanding of the major financial and risk-management issues that face large
1. Before discussing the situation with your group, and from the perspective of your assigned role, decide whether there are any ethical issues here. Sarah Keats is the vice-president of finance at
2 . Before discussing the situation with your group, and from the perspective of your assigned role, decide what action you think should be taken. Write down your recommended action. Sarah Keats is
3. Gather your group together and reveal, in tum, each member's comments and recommendations. Sarah Keats is the vice-president of finance at Multiverse, a large firm that manufactures consumer
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 disagreements? Sarah Keats is the vice-president of
5. From an ethical standpoint, what does your group recommend? Sarah Keats is the vice-president of finance at Multiverse, a large firm that manufactures consumer products. On December 15, 2010 (two
1. Why do investors buy commercial paper? Why did some investors buy non-bank commercial paper? Commercial paper Is sold to investors on the promise that the Issuing organization will pay back the
2. How does the commercial paper crisis demonstrate the risk-return principle? Commercial paper Is sold to investors on the promise that the Issuing organization will pay back the principal(plus
3. Explain how problems in the U.S. subprime mortgage market caused difficulties in the Canadian commercial paper market. Commercial paper Is sold to investors on the promise that the Issuing
4. Should Canada's federal government become more involved in regulation of the commercial paper market so problems like the one described above won't happen again? Defend your answer. Commercial
3. Consider the following statement •Jf consumers don't pay off their credit card balance each month, that's their decision, and they shouldn't complain about the interest they are charged. They
2. Think about the situation that was encountered by each of the four individuals profiled above. Do you think the individual or the credit card company had the most defensible position? Explain your
1. Credit cards are often referred to as " plastic money." Explain why credit cards do not actually qualify as " money." Do you think that you're credit card savvy? Do you know what's in the fine
4. How successful do you think each family will be as they attempt to resolve their financial problems?(After you have turned in your answers, your instructor will give you an update on the three
3. Sherrell, the psychologist, says that very few people follow financial advice. Why do you think that people don't follow financial advice? We are a nation in debt, so Marketplace examined the
2. Consider the following statement: ·credit card companies should cancel the credit card of any consumer whose credit card balance exceeds$10000. This will prevent the consumer from falling more
1. Identify several reasons why people get into financial difficulty. Which reason applies to which family?Is there a common underlying reason for these three families? We are a nation in debt, so
Why is the Myer-Briggs Type Indicator such a popular tool for organizations?
How does a psychological contract differ from a business contract?
Who proposed the classical theory of management and what did it suggest?
What are set by the use of management by objectives and how does it work?QuESTIOnS FOR AnALYSIS
How have instances of cutbacks and redundancies had a tendency to undermine the whole concept of the psychological? Why do employees in particular value them less than before?
According to Maslow, what happens when an individual has a set of needs satisfied? What can an organization do in order to keep them motivated?
What would you tell a low-skill worker performing a simple and routine job who wants more challenge and enjoyment from work?APPLICATIOn EXERCISES
Thinking about your new business venture, what performance behaviors will you expect from your employees?What counterproductive behaviors would be most detrimental to your business?
If you were able to measure the emotional intelligence of prospective employees, which dimension or dimensions will be most important to you?
There are many theories of motivation. If you believe that Maslow’s needs hierarchy best explains motivation in the workplace, how will you motivate your employees to work hard?
Another popular theory of motivation is Herzberg’s twofactor theory. How could you apply this theory to your new business venture?
In your new company, will employees be able to work from home or work flexible hours? Why or why not?
Job satisfaction and morale. The NCDAs are complaining that the accounts department deduct bonus payments from them if the new customers stop ordering without 12 months. The original sales force is
Theory X versus Theory Y. Although the behavior of these workers seems to make a case for Theory X, why is it difficult to draw this conclusion about a company that focuses more on retaining
Two-factor theory. Analyze the various ways in which improving such motivational factors as recognition, added responsibility, advancement, and growth might reduce the importance of hygiene factors,
Expectancy theory. Analyze the effect on productivity of redesigning the company’s sales force compensation structure—namely, by paying lower base salaries while offering greater earnings
What are the ethical issues in this case?
Do you think that bringing in a minimum wage will solve the job satisfaction problems in Singapore? What leads you to this conclusion?
What factors motivate Singaporean employees?
According to equity theory, how might minimum wages affect other employees?
How could Maslow’s hierarchy of needs help to explain the view of Singaporean workers?
Use two-factor theory to explain the attitude of most Singaporean workers.
Do you believe that governments have a social responsibility to ensure employers pay higher wages? Why or why not?

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