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Business 8th Canadian Edition Ricky Griffin, Ronald J.Ebert, Frederick Starke, Melanie Lang, George Dracopoulos - Solutions
What are the advantages of a car like the Nano? Are there disadvantages? Explain.
What lessons can be learned from the Nano with regard to the relationship of production to the other functional areas of business such as marketing and finance? What is the relationship between mass production and the quality level of the Nano?
Do you think the Nano would satisfy consumers in markets in other countries? Explain your reasoning.
What are the major differences between goods production operations and service operations? Discuss.
What are the major differences between high-contact and low-contact service systems?
What are the resources needed and the finished products that are produced in the following services? • Real estate firm • Childcare facility • Bank • City water and electric department • Hotel
Identify a synthetic production process and an analytic production process. Then classify each according to whether it is chemical, fabrication, assembly, transport, or clerical. Explain your reasoning.
Why is the customization of and easy access to personal services so attractive as we enter the twenty-first century?
As services are personalized, do you think quality will become more or less important? Why?
Why does the trend towards personalized, one-on-one service present unique opportunities for entrepreneurs?
In a personal one-on-one business, how important are the human relation skills of those delivering the service? Can you make an argument that they are more important than the service itself?
1. Explain in your own words the developments during the last decade that have created problems for Canadian manufacturing.2. Should the Canadian government intervene more aggressively in the automobile industry to maintain employment? Explain your reasoning.3. Consider the following statement: The
1. In your own words, explain the similarities and differences between manufacturing and service operations. How do the examples presented above illustrate your points?2. How do the service factors of intangibility, customization, and unstorability generally influence the provision of services? How
Do you believe that this approach can work for major manufacturers like GM or Honda?
In addition to changing processing technologies, what are some other ways that steel manufacturers can help protect the environment?
Using the fishbone diagram in Figure 12.2 as a guide, analyze the various ways quality at Frabert’s can be managed.
What can companies do to lessen the impact of supply chain disruptions?
Consider the following statement: Companies should reconsider their use of just-in-time inventory systems because if a supply disruption occurs, the manufacturing process will almost immediately have to be shut down because the company carries virtually no inventory. Do you agree or disagree with
High productivity in the service sector has historically been difficult to achieve. Why was this so? What might be changing in this area that will cause service productivity to increase during the next decade?
What are the costs and benefits for a company that has decided to pursue quality and productivity as competitive tools?
Explain how the functions of management (planning, organizing, leading and controlling) relate to one another in the pursuit of quality.
How might benchmarking be used to increase productivity in the service sector?
Why is benchmarking an important method for improving quality?
In an age of heightened competition, why do you think companies are willing to benchmark with each other?
1. What is total quality management? How is it relevant for automobiles? 2. What is the difference between internal and external benchmarking? Do the J.D. Power Initial Quality and Vehicle Dependability studies facilitate benchmarking? Explain.3. Consider the following statement: Consumer opinions
1. Refer to the terms productivity and quality found in this chapter. How do they apply to the practice of tree planting?2. Consider the following statement: The productivity and quality of rookie tree planters is very low, and the turnover rate is very high. Tree planting companies should
Do you think the PC will become obsolete soon? Explain your reasoning.
Why must a business manage information as a resource?
How can an electronic conferencing system increase office productivity and efficiency?
Why do the four levels of user groups in an organization need different kinds of information from the IS?
Give two examples (other than those in this chapter) for each of the major types of business application programs.
Visit a company and interview an individual who is knowledgeable about the firm’s management information system. Determine what problems and opportunities exist because of the system.
How has the World Wide Web changed the nature of business research?
1. Why do you think there was such an uproar when Bell announced that it was introducing usage-based billing?2. Take the position of one of the network operators like Shaw or Bell, and develop a list of arguments in favour of usage-based billing. Then take the position of an ISP and develop a list
Visit the Canadian Institute of Chartered Accountants website (www.cica.ca). How much emphasis is placed on forensic accounting? How does a person become a forensic accountant?
Consider the following statement: Accounting information is meaningful and useful for well-established companies, and is particularly helpful for individuals and organizations when making investment decisions. But accounting information is not very helpful in making investment decisions for
There are clearly benefits for firms that embrace green accounting practices, but are there also benefits to clients? If so, describe them.
Why might there be reluctance on the part of accounting firms or their clients to embrace green initiatives like paperless systems?
Balance sheets and income statements are supposed to be objective assessments of the financial condition of a company. But the accounting scandals of the last few years show that certain pressures may be put on accountants as they audit a company’s financial statements. Describe these pressures.
If you were planning to invest in a company, which of the three types of financial statements would you want most to see? Why?
A business hires a professional accountant like a CA or CGA to assess the financial condition of the company. Why would the business also employ a private accountant?
How does the double-entry system reduce the chances of mistakes or fraud in accounting?
Explain how financial ratios allow managers to monitor their own efficiency and effectiveness.
Explain the difference between financial and managerial accounting. In your answer, describe the different audiences for the two types of accounting and the various individuals who are involved in the process.
Suppose Inflatables Inc., makers of air mattresses for swimming pools, has the following transactions one week: • Sale of three deluxe mattresses to Al Wett (paid cash--$75) on 7/16 • Received cheque from Ima Flote in payment for mattresses bought on credit ($90) on 7/13 • Received new
Dasar Company reports the following data in its September 30, 2012 financial statements: Gross sales ………………. $225,000 Current assets …………… 40,000 Long-term assets ………… 100,000 Current liabilities ………… 16,000 Long-term liabilities ………
Interview the manager of a local retail or wholesale business about taking inventory. What is the firm's primary purpose in taking inventory? How often is it done?
What cost savings are inherent in the electronic system for both your company and its customers? In your answer, consider such costs as handling, postage, and paper.
Switching to an electronic bill-paying system would require a large capital expenditure for new computers and computer software. How could analyzing the company’s income statement help you justify this expenditure?
How are consumers likely to respond to paying bills electronically? Are you likely to get a different response from individuals than you get from business?
1. Outline the possible pros and cons of the proposed merger from the perspective of each of the Canadian accounting groups.2. Supporters of the merger argue that it will result in marketing cost savings. Do you think there will actually be such savings? What other costs might be reduced (or
1. Recognizing the benefits and costs of the IFRS on the international markets, how will this change affect provincial and national reporting standards?2. What measures should be put in place to monitor and govern the use of the IFRS?3. Given that some Canadian companies have embraced the new
Develop a list of products and services for which demand will increase in the next two decades. Then develop a list of products and services for which demand will decrease. Defend your conclusions.
How would you describe ModCloth’s segmentation strategy?
What elements of the 4 P’s apply to ModCloth’s marketing strategy?
Using current marketing communication tools, how has ModCloth differentiated itself from its competitors?
What is the value to consumers of things like loyalty cards and discount cards? Why would companies offer consumers such cards?
Why has the in-store use of hidden cameras become so popular? Is this “video mining” ethical? If not, how could it be made more acceptable?
If you were starting your own small business, what are the key marketing pitfalls you would try to avoid?
When equipment manufactures advertise residential H/AC products, they often show them in different climate situations (in winter, summer, or high-humidity conditions). Which market segments are these ads targeting? Describe these segments in terms of demographic and psychographics characteristics.
1. What are the advantages and disadvantages of retaining the Zellers brand for a while before switching over to the Target brand?2. To what extent does Target differ from Walmart in terms of market segmentation strategy?3. What, if any, effect will the Target move into Canada have on cross-border
1. What factors occurred in the external environment that allowed for the increase in use and success of viral marketing campaigns? Do any of these factors also pose related threats?2. How do the decisions made by marketing managers about the marketing mix of the product (a movie like The Dark
If Microsoft had won its appeal, do you think that would have reduced the motivation to develop innovative new ideas? Defend your reasoning.
To what extent are patent disputes similar to the disputes regarding the downloading of music from the internet?
What is your reaction to the Fur Council of Canada’s green advertising campaign? What would you say to an animal rights activist who is outraged at the claims the Fur Council is making?
Consider the following statement: The Competition Bureau’s plan to create national guidelines to define terms like “recyclable” is well-intentioned, but it will not work in practice because companies will figure out ways to get around the rules and still make unwarranted claims about how
What is promotion? What are the five specific areas within the general area of promotion? Where do social media fit within the overall area of promotion?
Consider the following statement: Social media are rapidly going to become more important than traditional media in promoting the products and services of companies.” Do you agree with the statement? Defend your answer.
What does brand equity mean and how do companies like Apple take advantage of their strong brand equity?
How would you expect the branding, packaging, and labelling of convenience, shopping, and specialty goods to differ? Why? Give examples to illustrate your answers.
Why would a business use a push strategy rather than a pull strategy?
Why do you think some buyers want personalized cards? Why do some consumers want ready-made cards from retail stores?
1. What are the primary features and benefits that help explain the successful commercialization of this yogurt category in the North American market?2. In the case we have identified both private brands and national brands. Categorize each of the brands mentioned in the case and explain what the
1. In your experience, is most word-of-mouth advertising positive or negative? 2. Why does word-of-mouth advertising have such an impact?3. Why would companies like Procter & Gamble (which have historically focused on mass advertising) turn their attention to word-of-mouth advertising?4. Do the
What are the three basic categories of retailers? In which category does OFG fit? Explain your reasoning.
What elements of consumer behaviour has Overwaitea utilized when deciding on its differentiation and pricing strategies
What are the strengths and weaknesses of e-distribution?
How do cost-oriented pricing and break-even analysis help managers measure the potential impact of prices?
What general factors motivate marketing managers to price their products at, above, or below prevailing market prices?
From the manufacturer's point of view, what are the advantages and disadvantages of using intermediaries to distribute a product? From the end buyer's point of view?
Explain how the activities of e-agents (Internet shopping agents) or brokers differ from those of traditional agents/brokers.
A retailer buys a product from a manufacturer for $25 and sells it for $45. What is the markup percentage? Explain what the term “markup percentage” means.
Give three examples (other than those in the chapter) of products that use intensive distribution. Do the same for products that use exclusive distribution and selective distribution. For which category was it easiest to find examples? Why?
Suppose that a small publisher selling to book distributors has fixed operating costs of $600,000 per year and variable costs of $3.00 per book. How many books must the firm sell to break even if the selling price is $6.00? If the company expects to sell 50,000 books next year and decides on a 40
Consider the various kinds of non-store retailing. Give examples of two products that typify the kinds of products sold to at-home shoppers though each form of non-store retailing. Are different products best suited to each form of non-store retailing? Explain.
1. Do you think that changes in the way real estate agents are paid will end up saving money for people who buy a home? For people who sell their home?2. Consider the following statement: It is unreasonable for the Competition Bureau to force CREA to share its MLS listings with e-brokers because
1. Consider the traditional channels of distribution for music. Which channel elements are most affected by the presence of services like Spotify? Explain how those elements are affected.2. Develop arguments opposing the legality of online downloading of music. Then take the reverse position and
Is there a trade-off between bank accountability to customers and customer satisfaction with banks?
How are modern tools of banking revolutionizing the relationship between banks and their clientele?
What kinds of changes in banking are shifting banks away from their historical role?
Do we really need all the different types of financial institutions we have in Canada? Could we make do with just chartered banks? Why or why not?
If the Bank of Canada wants to increase the money supply, what options does it have? Explain how each of these options work to increase the money supply.
What is the logic behind the “law of one price” concept? Give an example using Switzerland and China.
Start with a $1000 deposit and assume a reserve requirement of 15%. Now trace the amount of money created by the banking system after five lending cycles.
Why do you think credit card companies continue to offer cards to people who are financially overextended?
What criteria can you suggest to evaluate different credit card offers?
How do you know when you have enough credit?
1. How has the change in government policy with regards to amortization period and down payments influenced the housing market?2. Why are bank executives asking the government to increase regulations? Isn’t it in the interest of all business executives to have less regulation to enable them to
1. Why do people in some countries keep using things other than coins or bills for money?2. As noted in the case, a variety of items are used for money. To what extent does each item satisfy the four characteristics that money should possess?3. Discuss the advantages and disadvantages of
Consider the following statement: Mobile investing is dangerous. People need to carefully analyze investment data and not make quick on-the-go decisions. This approach may cause inexperienced investors to feel a false sense of security and will lead to more foolish impulse investments. Do you agree
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