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business essentials

Business Essentials 6th Edition Ronald J. Ebert - Solutions

Lang thinks that her trouble breaking into the U.S. retail market stems from the fact that her company is unknown.How would this circumstance affect the strategies suggested in Steps
Select a product familiar to you. Using library reference works to gain some insight into the culture of India, identify the problems that might arise in trying to market this product to Indian consumers.
Interview the manager of a local firm that does at least some business internationally. Why did the company decide to go international? Describe the level of the firm’s international involvement and the organizational structure(s) it uses for international operations.
1. Visit the Canadian Institute of Chartered Accountants (www.cica.ca) website. How much emphasis is placed on forensic accounting? How does a person become a forensic accountant? Anyone who watches television knows about the forensic investigations that police officers conduct as they try to catch
Do you think that a firm operating internationally is better advised to adopt a single standard of ethical conduct or to adapt to local conditions? Under what kinds of conditions might each approach be preferable?Application Exercises
Do you support protectionist tariffs for the United States?If so, in what instances and for what reasons? If not, why not?
Suppose that you’re the manager of a small firm seeking to enter the international arena. What basic information would you need about the market that you’re thinking of entering?
List all the major items in your bedroom, including furnishings. Try to identify the country in which each item was made. Offer possible reasons why a given nation might have a comparative advantage in producing a given good.
What aspects of the culture in your state or region would be of particular interest to a foreign firm thinking about locating there?Questions for Analysis
How does a country’s economic system affect the decisions of foreign firms interested in doing business there?
What other options can you identify that might help deal with child labor and other problems in the global cocoa market?How does the balance of trade differ from the balance of payments?
Are you willing to pay more for fair-trade products? Why or why not?
Describe some of the ways in which social, cultural, economic, legal, and political differences among nations affect international business.
Discuss the factors involved in deciding to do business internationally and in selecting the appropriate levels of international involvement and international organizational structure.
Discuss the rise of international business and describe the major world marketplaces, trade agreements, and alliances.
3. Debate the following controversial statement: "Unions are divisive and they artificially inflate wages and make companies less competitive In 2009, an arbitrator ruled that workers in the United Food and Commercial Workers (UFCW) in Saini-Hyacinthe, Quebec, would not receive the wage and
2. Why is the UFCW's battle with Walmart so important to the union? Take a look at Its strategic approach of focusing on union-friendly Canadian provinces. In 2009, an arbitrator ruled that workers in the United Food and Commercial Workers (UFCW) in Saini-Hyacinthe, Quebec, would not receive the
1 . From a practical perspective explain why Walmart is so intent on fighting unionization attempts in Canada In 2009, an arbitrator ruled that workers in the United Food and Commercial Workers (UFCW) in Saini-Hyacinthe, Quebec, would not receive the wage and benefits Increase they had hoped to get
5. Do the ethical and performance implications of your choices always align? plan for laying- off employees. He wants each manager to rank his or her employees according to the order in which they should be laid off, from first to last.The Dilemma One manager has just asked for help. He is new to
2. Interview a forensic accountant and ask the following questions: (a) What general approach do forensic accountants take when investigating the financial statements of companies? and(b) What specific techniques are used to determine whether accounting fraud has occurred? Anyone who watches
4. Do the ethical and legal implications of your choices always align? plan for laying- off employees. He wants each manager to rank his or her employees according to the order in which they should be laid off, from first to last.The Dilemma One manager has just asked for help. He is new to his
3. As a group, brainstorm any legal issues Involved in this situation and write them down. plan for laying- off employees. He wants each manager to rank his or her employees according to the order in which they should be laid off, from first to last.The Dilemma One manager has just asked for help.
2. As a group, discuss the under1ying ethical Issues in this situation and write them down. plan for laying- off employees. He wants each manager to rank his or her employees according to the order in which they should be laid off, from first to last.The Dilemma One manager has just asked for help.
1. Working together, prepare this list, ranking the manager's employees according to the order in which they should be laid off, from first to last. Identity any disagreements that occurred along the way, and indicate how they were resolved. plan for laying- off employees. He wants each manager to
4. Based on what you have learned, do you think the union movement in Canada will stagnate or thrive in the years ahead? The Purpose of the Assignment To encourage students to understand why some companies unionize and others don't.The Situation You've been working for the same non-union company
3. What Is the union's role when layoffs occur? The Purpose of the Assignment To encourage students to understand why some companies unionize and others don't.The Situation You've been working for the same non-union company for five years. Although there are problems, you like your job and have
2. Are the union members you spoke with satisfied or dissatisfied with their union's efforts to achieve better working conditions, higler wages, and improved benefits? The Purpose of the Assignment To encourage students to understand why some companies unionize and others don't.The Situation You've
1. Based on everything you have learned, are you sympathetic to the union movement? Would you want to be a union member? The Purpose of the Assignment To encourage students to understand why some companies unionize and others don't.The Situation You've been working for the same non-union company
10. Consider the following statement: •Many years ago, workers were treated very badly by management compared to the way they are treated now. Since unions exist largely to protect workers from unreasonable behaviour by management, the need for unions has disappeared. • Do you agree or disagree
7. Interview a human resource manager at a local company.Select a position for which the firn is currently recruiting applicants and Identify the steps in the selection process.
6. What training do you think you are most likely to need when you finish school and start your career?
5. Suppose you are a manager in a non-unionized company.You have just heard a rumour that some of your workers are discussing forming a union. What would you do? Be specific.
4 . Why is the fonnal training of wol1
2.. What benefits do you consider most and least important In attracting workers? In keeping wol1
1. Why is a good employe~job match important? Who benefits more, the organization or the employee?Why?
2. What other incentives might a company be able to offer its best workers to retain them? The list of perks that Canadian companies might offer employees is very long. It includes things like unlimited sick days, on-site chlldcare, eldercare benefits, counselling, flexible work schedules, free
1. What are the advantages of perks? What are the disadvantages? The list of perks that Canadian companies might offer employees is very long. It includes things like unlimited sick days, on-site chlldcare, eldercare benefits, counselling, flexible work schedules, free beverages, concierge
2. Should recruiters be legally permitted to conduct background checks on candidates based on publicly available information on social media sites?Does this prospect worry you? The internet has transformed the job recruitment process. Online recruitment sites like Monsler.ca and Workopolis made the
1. Have you ever used a social media or online recruiting site to find a job? In your opinion how effective are these tools? The internet has transformed the job recruitment process. Online recruitment sites like Monsler.ca and Workopolis made the first revolutionary impression and changed the
2. Consider the following statement: "All the publicity about graduates looking for jobs at environmentally friendly companies is exaggerated. Since being green is the thing to do, many graduates are merely claiming they want to worl< for an environmentally friendly company, even though most of
1. What are the advantages of working for an environmentally friendly company? Are there any disadvantages? When Chad Hunt went looking for a job after graduating from university, one key criterion he used was the prospective employer's environmental impact.He eventually took a job with Husky
Describe the major laws governing unionism.
Discuss workforce diversity, the management of knowledge workers, and the use of contingent and temporary workers as important changes In the contemporary workplace
Describe some of the key legal issues involved in hiring, compensating, and managing workers in today's workplace.
Discuss the importance of wages and salaries, incentives, and benefit programs in attracting and keeping skilled workers.
Discuss different ways in which organizations go about developing the capabilities of employees and managers.
Identify the issues involVed in staffing a company, including internal and external recruiting and selection.
Define human resource management, discuss its strategic significance, and explain how managers plan for human resources.
4. Why does the double-entry system reduce the chances of mistakes or fraud in accounting?
5. How do financial ratios help managers to monitor their own efficiency and effectiveness?
6. 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 Involved In the process.
7. Dasar Co. reports the following data in its September 30, 2010, financial statements: • Current assets 40 000• Long-term assets 100 000• Current liabilities 16 000• Long-term liabilities 44 000• Owners' equity 80 000 Net income 7 200 • Number of common shares 5 000 Compute the
8. Interview an accountant at a local manufacturing firm.Determine what kinds of budgets the firm uses, and the process by which budgets are developed. Also determine how budgeting helps managers plan their business activities. Give specific examples.
9. Interview the manager of a local retail or wholesale business. Ask the manager about the company's primary purpose for taking inventory, and how often this is done.
10. Interview the manager of a local business and ask about the role of ethics in the company's accounting practices. How important is ethics in accounting?What measures does the firm take to ensure that its internal reporting is ethical? What steps does the company take to maintain ethical
1. 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. To encourage students to think about the advantages and disadvantages of using an electronic system for handling accounts
2. What consequences would your decision to adopt an electronic system have on others with whom you do business, including manufacturers of cheque-sorting equipment, Canada Post, and banks? To encourage students to think about the advantages and disadvantages of using an electronic system for
3. Switching to an electronic system would mean a large capital expense for new computers and software.How could analyzing the company's income statement help you justify this expense? To encourage students to think about the advantages and disadvantages of using an electronic system for handling
4. 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 customers? To encourage students to think about the advantages and disadvantages of using an electronic system for handling accounts
1. Before hearing any of your group's comments on this situation, and from the perspective of your assigned role, decide if there are any ethical issues confronting the head accountant in this situation. If so, write them down. Accountants are often entrusted with private, sensitive information
2. Return to your group and reveal ethical issues identified by each member. Were the issues the same among all rol es or did differences in r oles result in different issues?Accountants are often entrusted with private, sensitive information that should be used confidentially. In this exercise,
3. Among the ethical issues that were identified, decide as a group which one is most important for the head accountant. Which is most important for Turbatron?Accountants are often entrusted with private, sensitive information that should be used confidentially. In this exercise, you're encouraged
4 . What does your group finally recommend be done to resolve the most important ethical issue(s)?Accountants are often entrusted with private, sensitive information that should be used confidentially. In this exercise, you're encouraged to think about ethical considerations that might arise when
5. What steps do you think Turbatron might take in advance of such a situation to avoid any difficulties it now faces?Accountants are often entrusted with private, sensitive information that should be used confidentially. In this exercise, you're encouraged to think about ethical considerations
1. What role does the Institute of Chartered Accountants of Ontario OCAO) play in ensuring full disclosure on the part of accountants and auditors? How does the ICAO monitor auditor activity and maintain integrity within the accounting profession? What Is its relationship to the CPAB? The negative
2. What are some ways to ensure that an auditing finn does not find itself in the position that Deloitte &Touche did in the Livent case? The negative publicity that has been given to firms like Liven!, Enron, Parmalat, and WorldCom during the last decade has made fa very interesting reading, but it
3. Do you think business practices like disclosure and auditing proceedings will change as a result of the Sarbanes-Oxley Act? Do you think the number of fraud allegations will decline? Explain your answers. The negative publicity that has been given to firms like Liven!, Enron, Parmalat, and
4 . There has been much publicity in the last few years about white-collar fraud. Give some examples of fraud that you are familiar with. 'Nhat role, If any, did accounting fraud play in these cases? The negative publicity that has been given to firms like Liven!, Enron, Parmalat, and WorldCom
1. Explain what the terms "productivity" and "quality"mean. How are they related in the actual practice of tree planting? N. Touchwood Lake, Alberta, 36 rookie tree planters(as well as a group of veteran planters) meet Cal Dyck, who has contracts to plant 7 million white and black spruce seedlings
2. Consider the following statement "The productivity and quality of rool
3. Why do you think tree planters are paid on a piecerate basis? What are the advantages and disadvantages of paying tree planters this way? (Review the relevant material in Chapter 8 before answering this question.) N. Touchwood Lake, Alberta, 36 rookie tree planters(as well as a group of veteran
4. Explain the various forms of employee behaviour.How does each one of these forms of behaviour impact the productivity and quality of tree planters?(Review the relevant material in Chapter 9 before answering this question.) N. Touchwood Lake, Alberta, 36 rookie tree planters(as well as a group of
1. What is the difference between financial and managerial accounting? Is the work that the African accountants are doing financial or managerial accounting? Explain. In Canada's business jungle, all tracks lead to Bay Street, whElfe lions of mod&fn industry reign.Accountants keep Bay Street's
2. Why might Canadian clients be reluctant to have Wall & Associates send their data to Africa for organizing? What can George Wall do to respond to their concerns? In Canada's business jungle, all tracks lead to Bay Street, whElfe lions of mod&fn industry reign.Accountants keep Bay Street's books,
3. Suppose that you read a newspaper editorial condemning the practice of sending documents to Africa on the grounds that this was yet another example of exporting Canadian jobs overseas to low-wage countries. How would you respond? In Canada's business jungle, all tracks lead to Bay Street, whElfe
3. What is the difference between a centralized company and a decentralized company? Where is Frantic Rims positioned on the centralization-deoentrallz.ation continuum? Explain. Frantic Rims is a Winnipeg-based film and TV production company. Shortly after its founding In 1997, the company was
2. What are the advantages and disadvantages of the organizational structure at Frantic Films? Frantic Rims is a Winnipeg-based film and TV production company. Shortly after its founding In 1997, the company was named one of Canada's Hottest 50 Start-Ups by Proftt magazine. By 2004, It ranked
1. What are the four basic types of organizational structures?Which of these basic structural types seems most like the structure that Frantic Rims has adopted? Frantic Rims is a Winnipeg-based film and TV production company. Shortly after its founding In 1997, the company was named one of Canada's
6. Develop a group response to the following questions:Assuming Team A asks the Team B member to join its team, how might it go about minimizing repercussions?Assuming Team A does not ask the Team B member to join its team, how might it go about minimizing repercussions? The Situation The Hails
5. From an ethical standpoint, what does your group conclude is the most appropriate action that should be taken by Hails in this situation? Should Team B's member be allowed to join Team A? The Situation The Hails Corporation, a manufacturing plant, has recently moved toward an all-team-based
4. Appoint someone to record main points of agreement and disagreement within the group. How do you explain the results? What accounts for any disagreement? The Situation The Hails Corporation, a manufacturing plant, has recently moved toward an all-team-based organization structure.That is, all
3. Gather your group together and reveal, in turn, each member's comments on the situation. Next, reveal the ethical issues listed by each member. The Situation The Hails Corporation, a manufacturing plant, has recently moved toward an all-team-based organization structure.That is, all workers are
2. Before hearing any of your group's comments on this situation, and from the perspective of your assigned role, determine the underlying ethical issues, if any, in this situation. Write down the issues . The Situation The Hails Corporation, a manufacturing plant, has recently moved toward an
1. Before hearing any of your group's comments on this situation, and from the perspective of your assigned role, decide whether you think that the member of Team B should be allowed to join Team A. Write down the reasons for your position. The Situation The Hails Corporation, a manufacturing
3. As the company founder, how willing would you be to make major organizational changes in light of the shortage of qualified programmers? Goal To encourage students to understand the relationship between organization structure and a company's ability to attract and keep valued employees.Situation
2. If you were a programmer, what organizational factors would make a difference to you? Why? Goal To encourage students to understand the relationship between organization structure and a company's ability to attract and keep valued employees.Situation You are the founder of a small but growing
1. With the average computer programmer earning nearly $70 000, and with all competitive firms paying top dollar, why might organizational issues be critical in determining employee loyalty? Goal To encourage students to understand the relationship between organization structure and a company's
10. Review the discussion of intrapraneurs in Chapter 4.Then identify a person who has succeeded as an intrapreneur. In what ways did the structure of the intrapreneur's company help this individual succeed?In what ways did the structure pose problems?
9. Interview the manager of a local service business(for example, a fast-food restaurant). What types of tasks does this manager typically delegate? Is the appropriate authority also delegated in each case?What problems occur when authority is not delegated appropriately?
8. Consider the organization where you currently wor1
7. Draw up an organization chart for your college or university.
6. The argument has been made that, compared to the functional organization structure, the divisional structure does a better job of training managers for top-level positions. Do you agree or disagree with this argument? Explain your reasoning.
5. If a company has a formal organization structure, why is the informal organization so important?
4. Compare and contrast the matrix and divisional approaches to organizational structure. How would you feel personally about wor1
3. Describe a hypothetical organization structure for a small printing firm. Describe changes that might be necessary as the business grows.
2. Why do some managers have difficulties in delegating authority? Why does this problem tend to plague smaller businesses?
1. Explain the significance of size as it relates to organizational structure. Describe the changes that are Hkely to occur as an organization grows.
2. Consider the following statement: "It is very expensive to build eco-friend/y buildings, so expenditures like these should generally not be made.Rather, companies should focus on upgrading their production facilities so they can make higher quality, lower-priced products for consumers and more
1. What are the advantages of "green" buildings? Are there any disadvantages? Explain. The term "organizational structure" is commonly used to explain theoretical concepts like departmentalization, authority, responsibility, and the hierarchical patterns within organizations. But organizations also
1. In your own words, explain the dilemma that managers face when they are trying to decide between product departmentalization and geographical departmentalization. Geographical departmentalization became popular many years ago as companies expanded their operations across national borders. Since

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