Questions and Answers of Small Business Accounting

There are several product pricing strategies described in the chapter. Which one do you think best fits the price of the suit and why? Kate has purchased a $25 dollar pair of shoes for their
Describe Jack’s experience with the suit in terms of the marketing concept, and then describe Kate’s experience with it. Now, what’s Kate’s experience with the marketing concept as it
The salesperson steps up to Jack and tells him the suit is perfect for his frame. What do you think was his strategy for approaching Jack in such a way?
What strategies are used for pricing products?
What are the five basic forms of market segmentation?
What are the marketing concept and relationship building?
Your teacher has just announced a huge assignment, due in three weeks. Develop a Gantt chart to plan and schedule more effectively:Break the assignment down into smaller tasks: Pick a topic, conduct
In what other ways do you think technology can be used to streamline hospital operations, improve the quality of patient care, and provide better outcomes for patients?
Two types of production processes are described in this clip. Of the three production classifications described in this chapter, which best fits each of those production processes and why?Location is
minutes every two weeks.
What role do performance reviews play in a company’s overall business strategy?Some Whirlpool managers go beyond the required quarterly review and meet with each of their reports for
What purposes do performance appraisals serve?
How is technology impacting off -the-job training?
What are the advantages of simulation training?
Describe several types of on-the-job training.
What is a labor union and how is it organized?
How do firms select qualified applicants?
How do you think Gore’s organizational structure affects the division of labor?
What factors determine the optimal span of control?
What are some ways to build a high-performance team?
Identify and describe three types of work teams.
What is the diff erence between a work team and a work group?
What are the fi ve types of departmentalization?
What are the five traditional forms of departmentalization?
Team Activity One of the most common types of planning that managers do is operational planning, or the creation of policies, procedures, and rules and regulations. Assemble a team of three
Today’s managers must be comfortable using all kinds of technology. Do an inventory of your computer skills and identify any gaps. After listing your areas of weakness, make a plan to increase your
Often researchers cast leadership in an inspirational role in a company and management in more of an administrative role. That tendency seems to put leadership and management in a hierarchy. Do you
Successful managers map out what they want to do with their time (planning), determine the activities and tasks they need to accomplish it in that time frame (organizing), and make sure they stay on
Would you be a good manager? Do a self-assessment that includes your current technical, human relations, and conceptual skills. What skills do you already possess, and which do you need to add? Where
Describe several guidelines for crisis management.
How can information technology aid in decision making?
Defi ne the basic managerial skills.
List the fi ve steps in the decision-making process.
What are the three types of managerial roles?
What do you think is the difference between the leadership required to start a company and the management required to sustain a company?
Most of Griffith’s changes fall into which category of planning? Explain.
What is corporate culture?
How do leaders infl uence other people’s behavior?
What is the managerial pyramid?
Explain the managerial function of organizing.
What is the diff erence between effi ciency and eff ectiveness?
What are the four key functions of managers?
What is the role of management?
Ron Wayne resigned from his role as one of the original Apple partners, forgoing millions in earnings as the company grew. Why do you think he hesitated to make the long-term commitment to Apple?
Team Activity Your class decides to participate in a local business plan competition. Divide the class into small groups and choose one of the following ideas:A new computer game based on the stock
What does it really take to become an entrepreneur? Find out by interviewing a local entrepreneur, or researching an entrepreneur you’ve read about in this chapter or in the business press. Get
After working in software development with a major food company for 12 years, you are becoming impatient with corporate “red tape” (regulations and routines). You have an idea for a new snack
How is technology aff ecting small business?
What is the Small Business Administration (SBA)?
Why are small businesses becoming so popular?
How does the small-business owner’s role change over time?
What are the challenges involved in developing this product?
Where would someone buy this product?
Is the innovation easy to communicate?
Is this innovation strategic to my business?
What is new and novel about your idea?
The chapter explores various types of entrepreneurs. Assuming that Ray is in fact an entrepreneur, which type of entrepreneur is he, and why did you choose that type?
Is Ray Kinsella an entrepreneur or a small-business owner? Explain your answer.
Which characteristics do successful entrepreneurs share?
Team Activity After pulling one too many all-nighters, you realize your college needs an on-campus coffee/food delivery service, and decide this might be a good business opportunity for you and some
Find news of a recent merger using an online search or a business periodical like Business Week, Fortune, or the Wall Street Journal. Research the merger using a variety of sources including the
Do you have what it takes to be a successful franchisee? Start by making a list of your interests and skills, and do a self-assessment using some of the suggestions in this chapter. Next you need to
You and a partner co-own Swim-Clean, a successful pool supply and cleaning service. Because sales have tapered off, you want to expand your operations to another town 10 miles away.Given the high
Bridget Jones wants to open her own business selling her handmade chocolates over the Internet. Although she has some money saved and could start the business on her own, she is concerned about her
Before starting your own company you should know the legal requirements in your area. Call the appropriate city or county departments, such as licensing, health, and zoning, to find out what licenses
Suppose you are considering two job offers for a computer programming position at: a twoyear-old consulting firm with 10 employees owned by a sole proprietor, or a publicly traded software developer
Suppose you are considering two job offers for a computer programming position at: a twoyear-old consulting firm with 10 employees owned by a sole proprietor, or a publicly traded software developer
Describe the diff erent types of corporate mergers.
Diff erentiate between a merger and an acquisition.
Why has franchising proved so popular?
Are some types of franchises better suited to international expansion than others? Are there some types of franchising that could not succeed on a global level? Which ones and why?
How can franchises adapt when the main disadvantages of franchising involve lack of franchisee control and restricted operating freedom?
What are the benefi ts of joint ventures?
Do you think vertical or horizontal mergers and acquisitions (see page 115) are more important to Crocs as it tries to sustain growth and fend off imitations?
What kind of diversification strategy can help Crocs continue on its path of astronomical growth?
Describe the three main types of partnerships and explain the diff erence between a limited partner and a general partner.
What requirements will be in the partnership agreement?
Do you have similar work ethics and values?
Why do you want a partner?
What are the drawbacks to being a sole proprietor?
Why is this a popular form of business organization?
As mentioned, there is a possibility of a third type of business organization described here between Brad’s company and his brother’s contracting business. What is that third type of business
What are some of the potential disadvantages that Brad faces as sole proprietor of his plumbing business and how might he ease these disadvantages?
What are some of the potential disadvantages that Walter and Anna face with their particular partnership, considering that the two are not married?
How has Apple been an innovator in the communications marketplace?
What social trends are likely to impact Apple in the future?
What market segments existed in the personal computer marketplace, and who were the dominant product providers to these segments?
What was technology’s role in the development of the personal computer marketplace?
How was the development of the Apple computer different from traditional product development? What are the risks inherent in this type of development process?
How has MTVNI overcome cultural differences to create a world brand?
Do you agree with Tom Freston that MTV’s future lies mostly in its international operations?Why?
While still at the Trade Compliance site, http://tcc.export.gov, click on “Trade Agreements” and then “List All Agreements.” Select one that interests you and summarize what you learn about
Go to the Trade Compliance Center site at http://tcc.export.gov. Click on “Research Your Country Market” and then “Search Reports.” Pick a country that interests you from the index, and read
Team Activity Divide the class into teams. Each team should choose a country and research its infrastructure to determine how it will help or hinder trade. Include a variety of countries, ranging
How can America compete against China and India in the long run? (Information)
Should Great Britain be admitted to NAFTA? Why might Britain not wish to join? (Systems)
Disney expect the Chinese consumer to understand Disney’s traditional stories and characters?Part of Mickey Mouse’s personality emphasizes family and friends. Do you think this aspect of his
Do you think that Disney was right to localize the park to the Chinese culture? Or should
Explain the concept of countertrade.
What will Swardlick have to say to get Americans to eat French cheeses?

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