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business
contemporary business

Questions and Answers of Contemporary business

Go to the Interbrand website and research the “Best Global Brands” for the most recent year. Go to the “Best 100 Brands” and sort by sector and ranking to evaluate the various concentrations
A few years ago, Boston-based Converse, one of the most iconic brands in existence today, underwent the first-ever remodel of its Chuck Taylor shoe, simply known as Chucks, in nearly a century. The
Three years after its launch, eyewear e-commerce pioneer, Warby Parker, opened its first Manhattan showroom. According to Dave Gilboa, the company's cofounder and co-CEO, the physical stores are
No matter how powerful they are, comic book heroes can't get themselves into bookstores—and readers' hands—without a little help. Leon Avelino and Barry Matthews, co-founders of Secret Acres,
Why do companies pursue multiple promotional objectives at the same time?
What is the leading advertising medium in the United States?
In what two major ways do companies benefit from sponsorship?
When does a company use personal selling instead of nonpersonal selling?
Define price.
What is a cost-based pricing formula?
How does the price–quality relationship affect a company's pricing strategy?
Identify and define each of the three categories of advertising based on their purpose. Which type of advertising might marketers use for the following products?a. carsb. virtual reality headsetc.
For each of the following, describe potential benefits and drawbacks of a sponsorship relationship:a. BMW and the Snowboard World Cupb. Bank of America and the Chicago Marathonc. Mattel Corporation
Under what circumstances are companies likely to emphasize personal selling?
Choose a product that you purchased recently. Identify the various media that were used to promote the product and analyze the promotional mix. Do you agree with the company's marketing strategy? Or
Evaluate outdoor advertisements by neighborhood and type—either where you live or in your college town. Include billboards, bus shelters, wall advertisements, advertisements and billboards in
A “freemium” pricing model like Pandora, Dropbox, or LinkedIn offers a basic service free of charge with the option to upgrade at a cost. It's a common pricing strategy among web technology
Product placement is also called embedded marketing, and you've probably seen it in TV programming, movies, and even video games. Skipping ads has never been easier due to advances in technology, so
Choose an airline, an automobile company, or a fast-food company (or product). On Facebook, Twitter, YouTube, and Instagram, compare and contrast social media campaigns. How does the company engage
Do some research to learn about online coupon fraud and its estimated annual costs to businesses. Prepare a brief report that includes answers to the following: How big of a problem is online coupon
Go to YouTube.com and conduct research to view the most recent Super Bowl advertisements. Discuss the types of companies that paid over \($5\) million for a 30-second spot. How do you think these
Shoppers who buy brand-name products usually cite quality as a reason, while shoppers who buy store-brand products usually cite price. Retailer Target believes it is possible to have the best of
As technology has changed the way consumers search for and book hotels, hotel loyalty programs also have evolved. Road warriors, those who travel extensively for business, have traditionally favored
A Zipster is one of over a million members of the world's largest car-sharing service, Cambridge, Massachusetts–based Zipcar. The company was founded in 2000 by two moms, Antje Danielson and Robin
Henry Ford, founder of Ford Motor Company, is quoted as saying that customers could choose a car in any color as long as it was black.Things have come a long way since that time—when customization
Not long ago, New England Confectionery Company, or Necco for short, marked the production of its one trillionth candy wafer. The humble roots of Necco, the country's oldest continuously operating
What is utility?
Identify each of the following as a consumer product or a business product, or classify it as both:a. frozen yogurtb. iPadc. gasolined. boat trailere. hand sanitizerf. Post-its
What are the steps in developing a marketing strategy?
What is the difference between primary data and secondary data?
Picture yourself in the middle of a home improvement project and in need of additional nails or lumber. Home improvement retail giant Home Depot is well aware of customers and do-it-yourselfers who
Imagine for a moment a relaxing day at the beach, when suddenly you hear the sound of someone in the ocean who appears to be in distress. Next, picture the arrival of a drone, an unmanned aerial
S.C. Johnson & Son, makers of Windex and Pledge, is a family-owned business currently in its fifth generation of leadership. An often overlooked form of business ownership, family-owned businesses
Many consider family-owned businesses the backbone of American business. “Mei Mei” translates from Chinese to “little sister” in English, and its name aptly represents a family business of
Describe current demographic trends that present opportunities for entrepreneurial businesses.
Imagine that you and a partner are planning to launch a business that sells healthy lunch choices from an on-campus food truck. You'll need seed capital for your venture. Outline how you would
You got bit by the entrepreneurial bug after taking an entrepreneurship class. You are at the point of deciding whether to leave college to launch a business. After all, some famous
Certain demographic trends can represent opportunities for entrepreneurs—the aging of the U.S. population, the increasing diversity of the U.S. population, the growth in population of some states,
Either individually or in groups, come up with ideas from large companies that are seemingly intrapreneurial. Discuss how each company is innovating beyond its core business.
You've recently graduated, and you're trying to decide whether to take a job at a large company or start your own company. Form two teams to evaluate, compare, and contrast the risk of
Salman Khan, creator of Khan Academy, has a series of interviews with entrepreneurs as part of his online teaching academy. Go to the website and search for “Interviews with Entrepreneurs.”
Y Combinator provides seed funding for start-ups. Twice a year, the start-ups move to Silicon Valley for three months. During that time, Y Combinator works extensively with them to help develop their
Fast Company magazine publishes its “50 Most Innovative Companies” issue. Visit the company's website and search for “50 Most Innovative Companies.” In which industries are the companies?
Shinola is catering to consumers who have become increasingly interested in American-made products with a story behind them. The Detroit-based company not only manufactures luxury watches, bicycles,
When cancer patient Lee Rhodes was unexpectedly soothed by the reflective light of a simple candle inside a glass-blown votive holder, a business was born. Today, Glassybaby produces hand-blown
When most people think of sesame seeds, what might come to mind are those commonly found sprinkled atop a burger bun or bagel.However, the founders of Seed + Mill had something a little different in
What is management?
How do the jobs of top managers, middle managers, and supervisory managers differ?
What is meant by a vision for the company?
Which of a company's characteristics does a SWOT analysis compare?
What are the steps in the decision-making process?
Identify the styles of leadership as they appear along a continuum of greater or lesser employee participation.
How do managers reinforce corporate culture?
Suppose you planned a ski trip with the ski club at school, but when you woke up on the morning of the trip, the weather called for a storm—and to reach the ski resort requires a three-hour
What is the link between a company's vision and its mission statement? Think about your own career as a start-up venture. What is your vision? What might be your mission statement?
A micromanager is someone who, for many different reasons, closely observes or tries to control the work of subordinates or employees. Discuss why someone might micromanage, and why it might be
Search your personal or professional network to find a supervisor or manager to interview. Find out more about how he or she performs each of the four management functions discussed in this chapter.
Research two companies you admire in each of the following industries: a technology start-up and a traditional bank. Learn what you can about each organization's culture. How does each differ?Explain
A number of years ago, in a courageous and somewhat risky move, Tony Hsieh, CEO and founder of Zappos, eliminated all managerial positions at the Las Vegas–based e-commerce shoe company. The
To say that Utah-based start-up BambooHR has a work culture that includes consequences for working too many hours might sound peculiar. But while some start-up businesses demand long work hours,
TripAdvisor's mission is to empower travelers around the globe with the insights that they need to confidently explore and experience our world. Co-founder and CEO Steve Kaufer has achieved this
What is the function of the Equal Employment Opportunity Commission (EEOC)?
What are the three criteria of an effective performance appraisal?
Explain goal-setting theory.
What is a labor union? What is collective bargaining?
In what major ways has labor legislation changed the workplace over the past century? How might the workplace be different today without this legislation?
When hiring new employees, it is common for companies to use internal recruitment (from within the organization) and external recruitment (from outside the organization). With a partner, choose
Choose one of the following companies, or one that you might like to work for sometime in the future. Using the company's website in addition to a popular jobsite like Indeed.com or Glassdoor.com,
With a classmate or individually, evaluate and prioritize beyond just salary what would be important for you as part of a total job offer. You may want to consider vacation, work–life balance,
Some employees might question the need for company policies related to workers' appearances. As tattoos and piercings have become mainstream, discuss the pros and cons of putting appearance-related
Go to the website listed below and review the data about HR managers.Answer the following questions:a. What do HR managers do?b. What is the job outlook for HR managers?c. Review and discuss the
If you are interested in working in human resources, you might want to learn about the Society for Human Resource Management (SHRM). An industrywide organization, SHRM supports its members with
Under the “About EEOC” tab, click on “Statistics,” and then under that tab click on “EEOC Enforcement and Litigation Statistics.” Choose the “Charges Alleging Sexual Harassment”
At most retailers, when it comes to allocating training and development dollars, entry-level front-line workers—cashiers, cart pushers, and sales associates—typically have been ignored. While
You've landed a few job offers—and you're considering one with free gourmet meals, shuttles to and from work, on-site fitness and laundry facilities, and yes, on-site massages. With heated
Timberland's employees agree that what makes the company unique is the way its culture is brought to life every day, supported by company values of humanity, humility, integrity, and excellence. The
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?

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