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business
business essentials
Business Essentials 12 Global Edition Ronald J. Ebert, Ricky W. Griffin - Solutions
What does a manager’s span of control suggest in terms of their workload?
What do the solid lines in an organization chart represent?
Do you think that Ellison will be successful in rescuing JCPenney, or is it too late?
What do you think were Ron Johnson’s biggest mistakes?
Do you think that Ron Johnson changed the mission of JCPenney or just implemented new strategies? Be sure to support your conclusion.
The text describes a variety of skills that are essential to management. Which two skills do you think will be most important for CEO Ellison?
As CEOs, both Ullman and Johnson were involved in each of the four management functions. Briefly describe the types of decisions that the CEO of JCPenney must make as they relate to each of the four functions.
How would you describe the corporate culture at Alphabet?
What role have goals and strategy played in the success of Alphabet?
Which management skills seem to be most exemplified in Sergey Brin and Larry Page?
Describe examples of each of the management functions illustrated in this case.
How would you describe the culture of this company based on the limited information in the scenario?
What would you do?
What do you think most managers would do in this situation?
What are the ethical issues in this situation?
Which management functions are involved in setting goals and measuring performance?
Identify Dream Vacations’s short-term goals. Are shortterm goals more or less important than long-term goals?
What intermediate goals will help Dream Vacations meet its long-term goals and realize its mission? What types of corrective action should Arturo take if the company fails to meet these goals?
Considering Dream Vacations’s mission statement and the information provided in the case, what are the company’s long-term goals? How should Arturo measure these goals?
Working with your group, develop a mission statement for Dream Vacations. Why is developing a mission statement important?
What sort of corporate culture do you want to create for your venture? What steps will you take to do so?
Does your management team need to develop any contingency plans? Why, or why not?
For your venture, is there a difference between your corporate and business strategies?
What are the specific business goals of your new venture?
What basic management skills will be most important to your business? Will these change over time?
What areas of management will be most important in your business? Will these change over time?
Compare and contrast the corporate cultures of two companies that do business in your community. Give examples of the culture of each company.
Audit and assess the basic management skills of a local manager or business owner. Note the technical, human relations, conceptual, decision-making, and time management skills. How important are these skills to them?What areas require development?
How and why would a business decide to fundamentally change their corporate culture? What are the advantages of starting again?
What contingencies would a major retailer of home improvement supplies need to consider in planning?How do you think the organization would address those risks?
How does the role of a middle manager differ from that of a first-line manager?
How do you distinguish between strategic and tactical plans? What is it about the two different types of planning that makes them different, in form and order as well as in detail?
How can an organization go through the process of changing its corporate culture?
Identify and explain the three different types of strategy used by organizations.
What are the key features of long-term goals in an organization?
Why is effective management considered a blend of science and art?
Will you sell your product in another country? If so, what countries and why? What challenges will you face?
A business shows social responsibility by respecting all of its stakeholders. What steps will you take to create a socially responsible business?Hint: Refer to the discussion of social responsibility in Chapter 2. What steps can you take to be a “good citizen”in the community? Consider also how
All businesses have to deal with ethical issues. One way to address these issues is to create a code of ethics. List three core principles your business will follow.Hint: To help you consider the ethical issues that your business might face, refer to the discussion in Chapter 2.
Why will customers choose to buy from your business instead of your competition?Hint: In this section, describe what will be unique about your business. For example, is the product special or will you offer the product at a lower price?
Briefly describe your ideal customer. What would he or she be like in terms of age, income level, and so on?Hint: You don’t have to give too much detail in this part of the plan; you’ll provide more details about customers and marketing in later parts of the plan.
What form of business ownership (sole proprietorship, partnership, or corporation) will your business take?Why did you choose this form?Hint: For more information on types of business ownership, refer to the discussion in Chapter 3.
What will your business do?Hint: Imagine that you are explaining your idea to a family member or a friend. Keep your description to 30 words or fewer.
What is the name of your business?Hint: When you think of the name of your business, make sure that it captures the spirit of the business you’re creating.
Would you describe Starbuck’s model as multinational or global? Why? How would you differentiate the two different approaches to marketing?
China has a collectivist culture. How do you believe that this will affect managers in a Starbucks store?
How will expansion in the ready-to-drink market help or hinder sales in China’s Starbucks stores?
How has Starbucks adapted to Chinese culture?
What motivates companies like Starbucks to expand into international markets with little perceived interest for their product?
How might U.S. businesses best prepare themselves for a possible elimination of the embargo?
How have changes in the structure of the global economy affected the U.S. embargo, which has been in effect for around 50 years? More specifically, how can U.S. companies deal with changing environmental challenges—economic, political and legal, and cultural—in their relations not only with
How has opening Cuba to international travel affected the travel industry in the United States and other countries?What are the potential benefits of virtually open travel to Cuba to Cuban citizens as well as the Cuban government?
What would you do?
What do you think managers of most parent companies would do in the situation described?
What are the key ethical issues in this situation?
As a group, consider the impact on the farm and what needs to be done in order to rectify and mitigate the situation as appropriate.
In similar fashion, have each member of the team suggest the key stakeholders in the situation and their likely reactions and demands.
Gather your group together and reveal, in turn, each member’s lists of actions. Create a definitive list of actions that will be necessary in order to deal with the situation.
Have each member of the team create a series of actions that will be required in order to deal with the situation.Consider the possible facts: who has been affected and the probable causes.
To what extent, if any, will your new venture be affected by social and cultural differences, economic differences, and/or legal and political differences across cultures?
Are there likely to be any export opportunities for your products or services? Why, or why not? If you are able to export your product, will it need to be adapted to sell in foreign markets?
Are you likely to acquire any of your materials, products, or services from abroad? Why, or why not?
China is one of the fastest-growing markets in the world.Use Web or database research to uncover how to best describe China according to the five cultural dimensions.Cite the sources for your information.
The World Bank uses per-capita income to make distinctions among countries. Use Web or database research to identify at least three countries in the following categories for last year: high-income countries, upper-middleincome countries, lower-middle-income countries, and lower-income countries. In
Overproduction in a particular country can lead to a global glut in supply. The consequences of this to domestic producers can be disastrous. What steps can governments take to prevent dumping in their domestic markets?
Research and identify a quota imposed by your country on an imported product. Do you support that quota? If so, why?
Why are cultural factors sometimes a minor challenge to a manager and at other times a major one?
Although it is impossible to predict how different cultures might react, outline the meaning of social, power, uncertainty, goal, and time orientations as identified by Geert Hofstede and explain how they help us understand different cultures.
Why might a business enter a strategic alliance?
What is the role of an independent agent in an international organization?
What distinguishes an international business from a multinational business?
What are the World Bank’s four classifications of countries based on per-capita income?
Do you think that you would be interested in owning a Cold Stone Creamery franchise? Why or why not?
How would you research a franchise purchase before making the decision to invest?
While franchise owners must have at least $125,000 of cash available, average start-up costs are more than double this amount. What are the most likely sources of funding for a franchise?
What would be the advantages of buying a Cold Stone Creamery franchise as opposed to starting a business from scratch?
As an independent advisor, what would you recommend that the four original designers do? Should they go forward with the cooperative as four, six, or seven?Explain your answer.
What are the implications of adding three more people to the cooperative?
What benefits are there to the four original designers of joining together as a cooperative?
For the specific business you are starting (in this exercise), does it make more sense to start from scratch, to buy an existing business, or to buy a franchise? Why?
Many new businesses need external funding to make a successful launch. Some may have access to the necessary funds through partners, families, loans, or other forms of finance; others look to venture capital companies.What do you think these venture capitalists are looking for?
Interview the owner/manager of a sole proprietorship or a general partnership. What characteristics of that business form led the owner to choose it? Does he or she ever contemplate changing the form of the business?
Why would a business choose to introduce an employee stock ownership plan? What are the advantages to a business of such a decision?
What is the relative significance of the four major reasons why businesses fail?
How does today’s view of the entrepreneur differ from the accepted view of the entrepreneur of yesterday?
What is a sole proprietorship? What are its key advantages and disadvantages?
What is the most significant reason for the large numbers of small business start-ups and successes?
Identify six areas where small businesses are a significant presence in most economies.
What is the appropriate role of government in the event of a natural disaster such as Hurricane Sandy?
Do you think that U.S. businesses have a greater responsibility to support rebuilding in New Jersey or Haiti?Defend your answer.
How would you characterize Home Depot’s approach to social responsibility? Support your conclusion.
Do you think that social responsibility is good for business?What would motivate a profit-seeking company like Whirlpool to incur the expense of donating appliances to the rebuilding effort?
After Hurricane Sandy hit, Lowe’s committed to maintaining prices on emergency goods. Do you think that other retailers acted similarly? Why, or why not?
Do you pay attention to fair-trade products in your own purchasing behavior? For what kinds of products might you be willing to pay a premium price to help those who produce the ingredients?
While Divine Chocolate has embraced the concept of fair trade, their products are not organic. On their website, they argue that purely organic production methods could result in greater instability in production because cocoa is very disease-prone. Do you think that Divine has an ethical
Should regional and national governments get involved in situations like this? Can legislation passed in a handful of countries have a significant impact on the use of plastic bags across the globe? Does legislation in these countries undermine the ability of domestic businesses to compete in the
Putting yourself in the shoes of the CEO, what course of action would you recommend?
Tip-offs and whistleblowing are the most effective way of uncovering bribery and corruption in business. How would you create a process and culture to encourage whistleblowing?
How widespread do you think unethical and corruption business practices are locally, regionally, and globally?Why do you think this is the case?
Do you agree or disagree with the following statement:“Organizations should create and communicate appropriate processes to ensure that employees know what to do if they witness unethical practices.” Support your answer with examples from your own work experience or that of someone you know.
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