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business
understanding business ethics

Questions and Answers of Understanding Business Ethics

3 Compare socialism and communism.
2 Explain what capitalism is and how free markets work.
1 Explain basic economics.
To access the video case featuring Redbox, visit www.mhhe.com/ublOe
To access the case "Moving Up the Corporate Ladder," visit www.mhhe.com/ubloe
3. Do a Google search for "business blogs" and check out some of the avail- able results. Go to one of the blogs that seems interesting to you and write a brief paragraph about it-including such
1. Go to the National Taxpayers Union website (www.ntu.org) "Who Pays Income Taxes? See Who Pays What." Study the tables showing what per- cent of taxes the various income groups pay. Do you think
5. Form into teams of four or five and discuss the technological and e-commerce revolutions. How many students now shop for goods and ser- vices online? What have been their experiences? What other
4. Look through your local phone book to find five businesses that provide services in your area. List those businesses and, for each, describe how social trends might affect them in both positive
3. What indicates that you and other people in the United States have a high standard of living? What are some signs that maintaining such a high standard of living may have a negative impact on
2. Imagine you are a local businessperson who has to deal with the issue of outsourcing. You want to begin with the facts. How many, if any, jobs have been lost to outsourcing in your area? Are there
1. Poll the class and determine which students believe that climate change is primarily caused by humans and which believe that other factors, such as climate cycles or sun spots, are the primary
3. How will you establish good relationships with your suppliers? With your employees?4. Do you see any conflict between your desire to be as profitable as possible and your desire to pay employees a
5 Analyze the effects of the economic environment and taxes on businesses.
4 Describe the effects of 4technology on businesses. technology on businesses.
2 Compare and contrast being an entrepreneur and working for others.
1 Describe the relationship 1 be between profit and risk, and show how businesses and nonprofit organizations can raise the standard of living for all.
1. 3. Does the restaurant industry seem like a stable option for aspiring entrepreneurs to pursue?
1. 2. What is the major challenge presented by Amazon and Uber to Grubhub’s business?
1. Go to one of the blogs that seems interesting to you and write a brief paragraph about it—including such things as who sponsors it, who contributes the posts, and what other features it
1. 3. Do a Google search for “business blogs” and check out some of the available results.
1. 2. Go to the Census Bureau’s website (www.census.gov) and learn what the population of the United States is at this moment. While at the site, you may want to look up the population in your town
1. 1. Go to the National Taxpayers Union website (www.ntu.org). Search for “Who Pays Income Taxes?” Study the tables showing what percentage of taxes the various income groups pay. Do you think
How do “Posh Parties” and “Posh Fest” help expand Poshmark’s business and build the loyalty of Poshmark customers?
How did iPhone 4 provide the boost Poshmark needed to expand its business model in the online market?
Which of the five environmental factors are most critical to Poshmark’s continued success and stability?
Form into teams of four or five and discuss the technological and e-commerce revolutions. How often do students shop for goods and services online? What have been their experiences? What other
Use Yelp to find five businesses that provide services in your area. List those businesses and, for each, describe how social trends, such as building a diverse workforce, might affect them. Be
Imagine you are a local businessperson who has to deal with the issue of outsourcing. You want to begin with the facts. How many, if any, jobs have been lost to outsourcing in your area? Are there
Poll the class and determine which students believe that climate change is primarily caused by humans and which believe that other factors, such as climate cycles or sun spots, are the primary cause.
Do a Google search for “business blogs” and check out some of the available results.Go to one of the blogs that seems interesting to you and write a brief paragraph about it—including such
Go to the Census Bureau’s website (census.gov) and learn what the population of the United States is at this moment. While at the site, you may want to look up the population in your town or city.
Go to the National Taxpayers Union website (ntu.org). Search for “Who Pays Income Taxes?” Study the tables showing what percentage of taxes the various income groups pay. Do you think that
What job opportunities for college graduates exist in the service sector?
What is the history of our economic development in the United States, and what does it tell us about the future?
What will be the impacts of future wars and terrorism?
Which countries are creating the greatest competitive challenges?
How have social changes affected businesses?
What are some ways in which businesses meet and beat competition?
How has technology benefited workers, businesses, and consumers?
What can governments in developing countries do to reduce the risk of starting businesses and thus help entrepreneurs?
What are the advantages and disadvantages of entrepreneurship?
Who are stakeholders, and which stakeholders are most important to a business?
What is the relationship of businesses’ profit to risk assumption?
What are the differences among effectiveness, efficiency, and productivity?
Why was it important to partner with a public relations firm to develop the marketing campaign?
Why did NPS limit its use of marketing during the 1960s and 1970s?
Why was the use of social media critical in the marketing plan of the National Park Service?
Take a little time to review the concepts in this chapter as they apply to Harvest Gold, the restaurant we used as an example throughout. Have an open discussion in class about (a) a different name
Working in teams of four or five, list as many brand names of pizza as you can, including from pizza shops, restaurants, supermarkets, and so on. Merge your list with the lists from other groups or
Business has fallen off greatly at your upscale restaurant because of the slow economy.List four things you can do to win back the loyalty of your past customers.
Working in teams of five, think of a product or service your friends want but cannot get on or near campus. You might ask your friends at other schools what’s available there. What kind of product
Think of an effective marketing mix for a new electric car or a brushless car wash for your neighborhood. Be prepared to discuss your ideas in class.
Does Nike invite comments from visitors to its website? If so, how does this affect its attempt to build positive relationships with its customers?
How do the elements of the website reflect Nike’s target market?
How does Nike’s website help the company strengthen its relationships with its stakeholders? Give examples to support your answer.
Which of your needs are not being met by businesses and/or nonprofit organizations in your area? Are there enough people with similar needs to attract an organization that would meet those needs? How
What environmental changes are occurring in your community? Is the community still feeling the impact of the economic crisis? What environmental changes in marketing are most likely to change your
Industrial companies sell goods such as steel, lumber, computers, engines, parts, and supplies. Name, or research, three such companies.
Review how past trends are being repeated in the present and what those trends mean for tomorrow’s college graduates.
When businesses buy goods and services from other businesses, they usually buy in large volume. Salespeople in the business-to-business market usually are paid on a commission basis; that is, they
What makes the business-to-business market different from the consumer market?
What are some of the factors that influence the consumer decision-making process?
What is the difference between mass marketing and relationship marketing?
Identify what businesses must do to meet global challenges, including war and terrorism.
What are some of the ways marketers segment the consumer market?
What are some of the more important environmental trends in marketing?
What are the steps in conducting marketing research?
How do marketers implement the four Ps?
Analyze the social changes affecting businesses.
What kinds of organizations are involved in marketing?
How has marketing changed over time?
What is marketing?
Demonstrate how businesses can meet and beat competition.
What are four key factors that make B2B markets different from consumer markets?
What is niche marketing, and how does it differ from one-to-one marketing?
Can you name and describe five ways to segment the consumer market?
Can you define the terms consumer market and business-to-business market?
Describe the effects of technology on businesses.
What factors are included in environmental scanning?
What are the four steps in the marketing research process?
What are the four Ps of the marketing mix?
What are the three parts of the marketing concept?
Analyze the effects of the economic environment and taxes on businesses.
What does it mean to “help the buyer buy”?
Compare the business-to-business market and the consumer market.
Explain how marketers apply the tools of market segmentation, relationship marketing, and the study of consumer behavior.
Show how marketers use environmental scanning to learn about the changing marketing environment.
Summarize the marketing research process.
Explain how entrepreneurship and the other factors of production contribute to the creation of wealth.
Describe the four Ps of marketing.
Define marketing, and apply the marketing concept to both for-profit and nonprofit organizations.
Describe the relationship between profit and risk, and show how businesses and nonprofit organizations can raise the standard of living for all.
Given what you’ve read in this text and from other sources, would you recommend that your fellow students’ first investment be in stocks, bonds, mutual funds, ETFs, real estate, or some other
Should you totally rely on Morningstar or any other investment advice service or should you search out several sources of advice? How can you know what advice is best?
Are you confident about investing in stocks, bonds, mutual funds, ETFs, and other investments? What sources of information would you use to make a decision about investments?
In which industry sectors or countries do these high-growth ETFs specialize?
Which ETFs grew the most in the last three years?
What are the five most actively traded ETFs?
What are the pros and cons of investing in ETFs?

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