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business
business essentials
Business Essentials 6th Edition Ronald J. Ebert - Solutions
Identify factors that influence demand and supply curves and the equilibrium price.
Understand the impact of the business cycle.
What are the major elements of the external environment?Of these, which is most important to BancFirst?
What are the factors that caused the demand curve for houses to shift to the right? How did this affect the equilibrium price?
Which factors created a shift in the supply curve? How did this affect the equilibrium price for houses?
There are four stages in the business cycle: prosperity, recession, depression, and recovery. Where was the U.S. economy when the housing crisis began? Where are we today?
The U.S. government “bailed out” a number of banks during this crisis. Do you think that this prevented a depression? Do you think that this is the proper role of government?
Explain how individuals develop their personal codes of ethics and why ethics are important in the workplace.
Distinguish social responsibility from ethics, identify organizational stakeholders, and characterize social consciousness today.
Show how the concept of social responsibility applies both to environmental issues and to a firm’s relationships with customers, employees, and investors.
Identify four general approaches to social responsibility and describe the four steps that a firm must take to implement a social responsibility program.
Explain how issues of social responsibility and ethics affect small business.
What are the major ethical issues in this case?
Aside from personal greed, what factors might lead an oil company to compile a long list of environmental damages?
Which approach to social responsibility does BP appear to be taking?
Distinguish between ethical issues and social responsibility issues as they apply to this problem.Explain how individuals develop their personal codes of ethics and why ethics are important in the workplace.
Distinguish social responsibility from ethics, identify organizational stakeholders, and characterize social consciousness today.
Show how the concept of social responsibility applies both to environmental issues and to a firm’s relationships with customers, employees, and investors.
Identify four general approaches to social responsibility and describe the four steps that a firm must take to implement a social responsibility program.
Explain how issues of social responsibility and ethics affect small business.
What basic factors should be considered in any ethical decision?
Who are an organization’s stakeholders? Who are the major stakeholders with which most businesses must be concerned?
In what ways do you think your personal code of ethics might clash with the operations of some companies? How might you try to resolve these differences?
Identify some specific ethical or social responsibility issues that might be faced by small-business managers and employees in each of the following areas: environment, customers, employees, and investors.Application Exercises
Develop a list of the major stakeholders of your college or university. How do you think the school prioritizes these stakeholders? Do you agree or disagree with this prioritization?
Using newspapers, magazines, and other business references, identify and describe at least three companies that take a defensive stance to social responsibility, three that take an accommodative stance, and three that take a proactive stance.
What personal, social, and cultural factors do you think contribute to lying in the workplace?
Do you agree or disagree with the statement “The term business ethics is an oxymoron.” Support your answer with examples from your own work experience or that of someone you know.
If you were faced with any of the ethical dilemmas described in Step 1, how would you handle them? How far would you go to maintain your personal ethical standards?
Which course of action is easier to defend? Why?
What is your personal opinion about the appropriate stance that a business should take regarding social responsibility?
To what extent is the concept of social responsibility relevant to nonbusiness organizations such as universities, government units, health care organizations, and so forth?
Before hearing any of your group’s comments on this situation, and from the perspective of your assigned role, which firm do you think should get the additional business? Which firm is your second choice? Write down the reasons for your position.
Before hearing any of your group’s comments on this situation, and from the perspective of your assigned role, what are the underlying ethical issues in this situation? Write down the issues.
Gather your group together and reveal, in turn, each member’s comments on their choices. Next, reveal the ethical issues listed by each member.
Appoint someone to record main points of agreement and disagreement within the group. How do you explain the results? What accounts for any disagreement?
From an ethical standpoint, what does your group conclude is the most appropriate choice for the company in this situation?
Develop a group response to the following question: Would your decision have been any different if you were able to break up the new contract across different suppliers?Why?
Describe the stakeholder model of social responsibility.
Identify areas of social responsibility.
Who are Jones Soda’s stakeholders?
What are the six areas of social responsibility? Which of these areas are highlighted in the video?
How did Jones Soda get involved in the 2008 presidential election? Do you think that this was appropriate?
Jones Soda shares the core values of its loyal customer base.While this costs them money, do you think that this is a wise business decision? Why or why not?
Although this video focuses on social responsibility, do you think that Jones Soda’s strategy influences the ethics of its employees? If so, how?
Define small business, discuss its importance to the U.S. economy, and explain popular areas of small business.
Explain entrepreneurship and describe some key characteristics of entrepreneurial personalities and activities.
Describe the business plan and the start-up decisions made by small businesses and identify sources of financial aid available to such enterprises.
Discuss the trends in small business start-ups and identify the main reasons for success and failure among small businesses.
Explain sole proprietorships, partnerships, and cooperatives and discuss the advantages and disadvantages of each.
Describe corporations, discuss their advantages and disadvantages, and identify different kinds of corporations; explain the basic issues involved in managing a corporation and discuss special issues related to corporate ownership.
Who and where are my customers?
How much will those customers pay for my product?
How much of my product can I expect to sell?
Who are my competitors?
Why will customers buy my product rather than the product of my competitors?
Who invested what sums?
Who will receive what share of the profits?
Who does what, and who reports to whom?
How may the partnership be dissolved? In the event of dissolution, how will assets be distributed?
How will surviving partners be protected from claims made by a deceased partner’s heirs?
Why do you think Facebook has been so successful?
What threats might derail Facebook’s success? What steps might the firm take today in order to thwart those threats?
Suppose Mark Zuckerberg asked you for advice on how to generate more profits from Facebook. What would you tell him?
Define small business, discuss its importance to the U.S. economy, and explain popular areas of small business.
Explain entrepreneurship and describe some key characteristics of entrepreneurial personalities and activities.
Describe the business plan and the start-up decisions made by small businesses and identify sources of financial aid available to such enterprises.
Discuss the trends in small business start-ups and identify the main reasons for success and failure among small businesses. (
Explain sole proprietorships, partnerships, and cooperatives and discuss the advantages and disadvantages of each.
Describe corporations, discuss their advantages and disadvantages, and identify different kinds of corporations; explain the basic issues involved in managing a corporation and discuss special issues related to corporate ownership.
Which industries are easiest for start-ups to enter? Which are hardest? Why?
What are the basic forms of noncorporate business ownership? What are the key advantages and disadvantages of each?QUESTIONS FOR ANALYSIS
Under what circumstances might it be wise for an entrepreneur to reject venture capital? Under what circumstances might it be advisable to take more venture capital than he or she actually needs?APPLICATION EXERCISES
Identify two or three of the fastest growing businesses in the United States during the last year. What role has entrepreneurship played in the growth of these firms?
Do you think this business would be successful? Why or why not?
Based on your analysis, what future developments could most affect your business? How might you best prepare yourself for these developments?
Do you think that operating a virtual storefront will be harder or easier than doing business from a traditional brickand-mortar operation? Explain your answer.
Identify the ethical issues, if any, regarding Mark’s and Connie’s respective positions on Mark’s proposed $2,000 salary increase.
What kind of salary adjustments do you think would be fair in this situation? Explain why.
There is another way for Mark and Connie to solve their differences: Because the terms of participation have changed, it might make sense to dissolve the existing partnership. What do you recommend in this regard?
Before hearing any of your group’s comments on this situation, and from the perspective of your assigned role, which option do you think is best? Write down the reasons for your position.
Before hearing any of your group’s comments on this situation, and from the perspective of your assigned role, what are the underlying ethical issues, if any, in this situation?Write down the issues.
Gather your group together and reveal, in turn, each member’s comments on the situation. Next, reveal the ethical issues listed by each member.
Appoint someone to record main points of agreement and disagreement within the group. How do you explain the results? What accounts for any disagreement?
From an ethical standpoint, what does your group conclude is the most appropriate action that should have been taken by the Thomas Corporation in this situation?
Develop a group response to the following question: What do you think most people would do in this situation?
Define entrepreneurship and describe the entrepreneurial personality.
Identify the sources of financing for small businesses.
List the advantages and disadvantages of the primary forms of business ownership.
What is an entrepreneur? Do you think that Daniel Grossman possesses the characteristics commonly associated with entrepreneurs? Why or why not?
How did Wild Planet get its initial financing? Is this typical of small business?
What are the primary advantages and disadvantages of organizing as a sole proprietorship or partnership? Why do you think that Wild Planet decided not to chose either of these forms?
What are the advantages and disadvantages of organizing as a corporation? How do these relate to Wild Planet and their decision on a form of ownership?
DBA ultimately decided to organize as a private corporation.What factors led to this decision?
Explain the concepts of organizational boundaries and multiple organizational environments.
Explain the importance of the economic environment to business and identify the factors used to evaluate the performance of an economic system.
Describe the technological environment and its role in business.
Describe the political-legal environment and its role in business.
Describe the socio-cultural environment and Its role in business.
1. How do you listen to music? Have you joined or visited a social media group linked to your favourite stations? Why? Why not?Do you remember when cameras were used to create photos, phones were used to make phone calls, and TVs were used to watch TV programs? Today things are different. You can
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