Business Essentials 8th Canadian Edition Ronald J. Ebert, Ricky W. Griffin, Frederick A. Starke, George Dracopoulos - Solutions

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1. It has been argued that Inflation is both good and bad. Explain. Are goverrvnent efforts to control inflation well-advised? Explain.
2. What are the benefits and risks of outsourcing?What, if anything, should be done about the problem of Canadian companies outsourcing jobs to foreign countries? Defend your answer.
4. Explain how current economic Indicators such as inflation and unemployment affect you personally.Explain how they affect managers.
6. What Is the current climate in Canada regarding the regulation of business? How might it affect you if you were a manager today?
1. Select two businesses you are familiar with. Identify the major elements of their external environments that are most likely to affect them in important and meaningful ways.
1. What does this exercise demonstrate about the pitfalls of relying too heavily on one business? To encourage students to understand how local events can affect other businesses.Situation The collapse of En ron affected literally hundreds of other businesses. While attention has been directed
2. Could any of these businesses have been better prepared for the Enron collapse? To encourage students to understand how local events can affect other businesses.Situation The collapse of En ron affected literally hundreds of other businesses. While attention has been directed primarily at the
3. Managers must be on the alert for environmental changes that might negatively affect their business.Is it possible for a manager to spend too much time trying to anticipate Mure events? Why or why not? To encourage students to understand how local events can affect other businesses.Situation The
1. Before discussing the situation with your group, and from the perspective of your assigned role, decide which firm should get the additional business. Which firm is your second choice? Write down the reasons for your position. The Situation Managers often find it necessary to fllld the right
2. Before discussing the situation with your group, and from the perspective of your assigned role, identify the underlying ethical issues in this situation. Write down the issues. The Situation Managers often find it necessary to fllld the right balance among the interests of different
3. Gather your group together and reveal, in tum, each member's comments on their choices. Next, reveal the ethical issues listed by each member. The Situation Managers often find it necessary to fllld the right balance among the interests of different stakeholders. For Instance, paying employees
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 Managers often find it necessary to fllld the right balance among the interests of different stakeholders. For Instance, paying
5. From an ethical standpoint, what does your group conclude is the most appropriate choice for the company In this situation? Why? The Situation Managers often find it necessary to fllld the right balance among the interests of different stakeholders. For Instance, paying employees the lowest
1. Based on your own observations in the marketplace, do you believe we are In an Inflationary or deflationary period? Between 2008 and 2010, there was great fear and confusion in financial markets. The stock mar1
2. Go to the Bank of Canada website and find the latest Inflation figures. Based on the latest statistics, is inflation or deflation a bigger problem today? Between 2008 and 2010, there was great fear and confusion in financial markets. The stock mar1
3. What do you think of Phil Green's contention that the CPI has become a deceptive tool? Do you believe that governments are purposefully massaging the numbers? If so, explain why. Between 2008 and 2010, there was great fear and confusion in financial markets. The stock mar1
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.
Explain how issues of social responsibility and ethics affect small businesses.
Identify four general approaches to social responsibility and describe the four steps a firm must take to Implement a social responsibility program
1. Which of the two major views about business"managerial capitalism" or the "variety of stakeholders"idea-would most likely be held by MEG's shareholders? Why?
2. What are the arguments for and against "managerial capitalism" and the "variety of stakeholders" idea?
3. Consider the following statement: "Businesses should not give money to charity because(a) business executives do not have any training that would help them decide which charities to give money to, (b) businesses are biased in their decisions about which charities to give money to, and(c)
1. Do you think the benefits of counterfeit products exceed the costs, or vice-versa? Defend your answer.Counterfeit goods are a problem in many product lines, including perfume, luggage, handbags, pharmaceuticals, designer clothing, shoes, cigarettes, watches, sports memorabilia, and fine wines,
2. Consider the following statement: "eBay should not be responsible for monitoring the authenticity of products that are sold through its online business.The responsibility for that lies with the companies that are worried that someone is selling a counterfeit version of their product.· Do you
1. How has Arthur's Fresh addressed the various areas of social responsibility? Ahh . . . the delicious taste of a fresh wild blueberry juice smoothie! What could be better to quench your thirst? The super juices offered by Arthur's Fresh, an Ontario-based beverage producer, offer much more than
2. What further actions might the company take? Ahh . . . the delicious taste of a fresh wild blueberry juice smoothie! What could be better to quench your thirst? The super juices offered by Arthur's Fresh, an Ontario-based beverage producer, offer much more than just thirst quenching. And, it's a
1 . In what ways do you think your personal code of ethics might clash with the practices of some companies?How might you resolve these differences?
2. What kind of company wrongdoing would most likely prompt you to be a whistleblower? What kind of wrongdoing would be least likely? Explain the difference.
3. In your opinion, which area of social responsibility is most important? Why? Are there areas other than those noted In the chapter that you consider i mportant?Describe these areas, and indicate why they are important
4. Identify some specific social responsibility issues that might be faced by small-business managers and employees in each of the following areas: environment, customers, employees, and investors.
5. Choose a product or service and explain the social responsibility concems that are likely to be evident in terms of the environment, customers, employees, and investors.
6. Arlalyze the forces that are at work from both a company's perspective and from a whistleblower's perspective. Given these forces, what characteristics would a law to protect whlstleblowers have to have to be effective?
7. Write a one-paragraph description of an ethical dilemma you faced recently Qncludlng the outcome).Arlatyze the situation using the ideas presented in the chapter. Make particular reference to the ethical norms of utility, rights, justice, and caring in terms of how they impacted the situation.
8. Pick a product or service that demonstrates the defensive approach to social responsibility. What has been the i mpact of that stance on the company that is using it? Now pick a product or service for each of the other stances (obstructionist, accommodative, and proactive) and do the same
9. Develop a list of the major stakeholders of your college or university. HCMI are these stakeholders prioritized by the school's administration? Do you agree or disagree with this prioritization? Explain your reasoning.
10. Interview the owner of a local small business. Ask the owner to (1) give his or her views on the importance of social responsibility for small businesses,(2) explain the kinds of socially responsible activities the company is currently involved in, and (3) describe the factors that facilitate
1. What personal, social, and cultural factors do you think contribute to lying in the workplace? Method Step 1 Working with four other students, discuss ways in which you would respond to the following ethical dilemmas. When there is a difference of opinion among group members, try to determine
2. Do you agree or disagree with the following statement?"The term business ethics is an oxymoron."Support your answer with examples from your own work experience or that of a family member. Method Step 1 Working with four other students, discuss ways in which you would respond to the following
3. If you were your company's director of human resources, how would you make your code of ethics a " living document"? Method Step 1 Working with four other students, discuss ways in which you would respond to the following ethical dilemmas. When there is a difference of opinion among group
4. 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? Method Step 1 Working with four other students, discuss ways in which you would respond to the following ethical dilemmas. When
1. Before hearing any of your group's comments on this situation, and from the perspective of your assigned role, decide which of the three options you think is the best choice. Write down the reasons for your position. The Situation Managers must often make choices among options that are presented
2. Before hearing any of your group's comments on this situation, and from the perspective of your assigned role, decide what the underlying ethical issues are in this situation. Write down the Issues. The Situation Managers must often make choices among options that are presented by environmental
3. Gather the group together and reveal, in tum, each member's comments on the best choice of the two options. Next, reveal the ethical issues listed by each member. The Situation Managers must often make choices among options that are presented by environmental circumstances. This exercise will
4. Appoint someone to record the main points of agreement and disagreement within the group. How do you explain the results? What accounts for any disagreement? The Situation Managers must often make choices among options that are presented by environmental circumstances. This exercise will help
5. From an ethical standpoint, what does your group conclude is the most appropriate action that should be taken by the company? (You may f1nd the concepts of utility, rights , justice, and caring helpful in mamg your decision.) The Situation Managers must often make choices among options that are
1. What are the major legal issues in this case? What are the major ethical Issues? A study by the International Council on Clean Transportation provides some interesting statistics on the global shipping industry:• Ships transport more than 90 percent of the world's products (by volume)• Ships
2. Aside from personal greed, what factors might lead a cruise line to illegally dump waste into the ocean?What factors might cause cargo ships to use lo.vgrade fuel? A study by the International Council on Clean Transportation provides some interesting statistics on the global shipping
3. Are the approaches to social responsibility by the cargo and cruise lines similar or different? Explain. A study by the International Council on Clean Transportation provides some interesting statistics on the global shipping industry:• Ships transport more than 90 percent of the world's
4 . Distinguish between ethical issues and social responsibility issues as they apply to this problem. A study by the International Council on Clean Transportation provides some interesting statistics on the global shipping industry:• Ships transport more than 90 percent of the world's products
Explain the meaning and Interrelationship of the terms small business, new venture creation, and entrepreneurship.
Describe the role of small and new businesses in the Canadian economy.
Explain the entrepreneurial process and describe its three key elements.
Describe three alternative strategies for becoming a business owner-starting from scratch, buying an existing business, and buying a franchise.
Describe four forms of legal organization for a business and discuss the advantages and disadvantages of each.
Identify four key reasons for success in small businesses and four key reasons for failure
1. Find a small business In your local area that is committed to being eco-friendly. Why did the owner decide to commit to having an eco-friendly business? Small business owners have plenty of operational problems that demand their attention, so they often don't spend enough tlme thinkJng about how
2. Consider the following statement: "It is unrealistic to expect small business owners to spend much time thinking about or implementing green practices.The failure rate of small businesses is high, so small business owners have to focus all their energies on trying to ensure the survival of their
1. What is the difference between small business and entrepreneurship? Are mompreneurs entrepreneurs?Explain. An increasing number of Canadian women have decided to be stay-at-home entrepreneurs (called mompreneurs). Most of them aren't trying to be supermoms that can do everything; rather, they
2. Interview a mompreneur and ask the following questions: (a) Why did you start your business?(b) What are the advantages and disadvantages of being a mompreneur? An increasing number of Canadian women have decided to be stay-at-home entrepreneurs (called mompreneurs). Most of them aren't trying
1. Are you in favour of promoted tweets? Debate Twitter's decision to implement this model. Entrepreneurs have effective new promotion tools thanks to social media sites. But what about the entrepreneurs who created these new information highways?Biz Stone, Jack Dorsey, and Evan Williams created
2. Why are new ventures the main source of job creation and new producVservice ideas?
3. Do you think that you would be a successful entrepreneur?Why or why not?
5. Using the product or service you described in Question 4, analyze the extent to which there is a good "fit" between the various elements in the entrepreneurial process.
6. Why might a private corporation choose to remain private? Why might it choose to "go public"?
7. Identify three trends-whether in fashion, lifestyle, or something else--and describe at least five ideas for capitalizing on one of them.
8. Find a newspaper or magazine article that describes someone who is an entrepreneur. Use the information provided to explain what makes this person an entrepreneur.
9. Spend some time watching what people do and how they do it, and then (a) identify two ways to make what they do easier, and (b) describe two problems you observed and identify strategies for resolving those problems.
10. Interview the owners of several small businesses in your local area. Ask them what they have done to make their businesses more environmentally friendly.If they have not done anything, ask them what has prevented them from taking the initiative to be more environmentally friendly.
1. Do you think your business would be successful on the internet? Why or why not? Goal To encourage students to define opportunities and problems for small companies doing business on the internet.Situation Suppose you and two partners own a gift basket store, specializing in special-occasion
2. Based on your analysis, how will extended internet applications affect your current business practices?What specific changes are you likely to make? Goal To encourage students to define opportunities and problems for small companies doing business on the internet.Situation Suppose you and two
3. Do you think that operating a virtual storefront will be harder or easier than doing business in your local community? Explain your answer Goal To encourage students to define opportunities and problems for small companies doing business on the internet.Situation Suppose you and two partners own
1. Before discussing the situation with your group, and from the perspective of your assigned role, decide which option you think is best. Write down the reasons for your position. The Situation The Thomas Corporation is a very well-financed private corporation with a solid and growing product
2. Before discussing the situation with your group, and from the perspective of your assigned role, identify the underlying ethical issues, if any, in this situation.Write down the issues. The Situation The Thomas Corporation is a very well-financed private corporation with a solid and growing
3. Gather your group together and reveal each member's comments on the situation. Next, reveal the ethical issues listed by each member. The Situation The Thomas Corporation is a very well-financed private corporation with a solid and growing product line, little debt, and a stable workforce.
4. Appoint someone to record the main points of agreement and disagreement. How do you explain the results? What accounts for any disagreement? The Situation The Thomas Corporation is a very well-financed private corporation with a solid and growing product line, little debt, and a stable
5. From an ethical standpoint, what is the most appropriate action that should be taken by the Thomas Corporation in this situation? The Situation The Thomas Corporation is a very well-financed private corporation with a solid and growing product line, little debt, and a stable workforce. However,
6. Develop a group response to the following question:What do you think most people would do in this situation? The Situation The Thomas Corporation is a very well-financed private corporation with a solid and growing product line, little debt, and a stable workforce. However, in the past fli!W
1. How is running a family business different from creating a business from scratch? What are the advantages? What are the disadvantages? Family businesses are a prominent feature in many countries of the world. Most family businesses are small, but some are very large. In addition to the usual
2. It seems as though the Antinori family has found a way to ensure that the entrepreneurial spirit is transferred from generation to generation in a positive manner. But this contrasts heavily with the experiences of many family businesses, even some of the biggest success stories. Are
3. How does financing a fami ly business differ from f&nancing a franchise or a new start-up? Outline the Lllique challenges in each of these situations. Family businesses are a prominent feature in many countries of the world. Most family businesses are small, but some are very large. In addition
Why do you think it is so hard to predict changes in stock price on a day-to-day basis?
Do an online search to find a case involving insider trading. Who was accused of insider trading and what was their relationship to the company? Were they convicted of insider trading, and if so, what was the penalty? How could the person accused of insider trading have avoided these charges?
Contact a stock broker for information about setting up a personal account for trading securities. Prepare a report on the broker's requirements for placing buy/sell orders, credit terms, cash account requirements, services available to investors, and commissions/fees schedules.
Crowdfunding means raising money online through the use of social media, usually by getting a small amount of money form a large number of investors. Various aspects of crowdfunding are discussed in the boxed insert, including concerns that allowing it in Canada will result in the problem of
This insert describes the practical impact of a practice called short selling. A research firm called Muddy Waters released a report questioning whether Sino-Forest actually owned the timber assets it claimed, and whether it was actually receiving the revenue it claimed. After the report was
This insert describes the development of mobile investing platforms that allow consumers to buy and sell stock from devices like iPhones. Investing this way is convenient, and it is growing rapidly, but still constitutes only a small proportion of all trades.1. Have you ever bought or sold
This insert describes the concept of “green bonds,” which are much like regular bonds except that the funds generated by them are directed toward projects that are environmentally-friendly. The market for green bonds is growing rapidly as both private and institutional investors become
The opening case describes the large amount of cash that businesses have been holding, and the concerns that have been expressed about that by various commentators. The case reviews the arguments both for and against the holding of large amounts of cash by corporations.1. What are three main
1. Identify and explain two of the fundamental warnings about credit cards that are contained in this case.2. Do you believe the typical consumer understands the full extent of the so-called “credit card trap?” What elements of the credit game are the most difficult to comprehend for most
Consider the old joke about economists that goes like this: When there are four economists in a room analyzing current economic conditions, there are at least eight different opinions. Based on your research and analysis, why do you think economists have such varying opinions?
What role will online communications play for this theme park: a) Before the launch, b) During the launch, andc) On an ongoing basis?
The digital revolution continues. This insert describes new technology developments that make it easier and faster for retail customers to pay for their purchases without necessarily waiting in line.How comfortable are you with going totally digital with your payments? Surely you appreciate quicker
As you developed your list of new products, which wants and needs of the target market were most important?
Interview the manager of a local manufacturing firm. Identify the company’s different products according to their positions in the product life cycle.
Choose a product that could benefit from word-of-mouth buzz marketing. Then create a marketing campaign kit for participants to spread the word about this product.
Select a product made by a foreign company and sold in Canada. What is the product’s target market? What is the basis on which the target market is segmented? Do you think that this basis is appropriate? How might another approach, if any, be beneficial? Why?
Select a good or service that you have purchased recently. Try to retrace the relevant steps in the buyer decision process as you experienced it. Which steps were most important to you? Which steps were least important?
More and more companies are responding to consumer concerns about the environment by developing and marketing products and services that are environmentally friendly. This insert gives multiple examples of such product offerings.What other environmentally friendly products and services are you
Assume for a moment that you agree with the argument that increased efficiency means more consumption rather than less. If you wanted to decrease consumption, give a specific example of the actions you would take. Also note whether you think the actions are politically feasible.

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Business Essentials 8th Canadian Edition Ronald J. Ebert, Ricky W. Griffin, Frederick A. Starke, George Dracopoulos - Solutions

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