Business Foundations A Changing World 11th Edition O. C. Ferrell, Geoffrey Hirt, Linda Ferrell - Solutions

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1. Why was Yahoo! struggling as a company before Bartz took over as CEO?
3. Do you think it is important to believe in the mission of the organization in order to be a satisfied employee of the Rainforest Alliance? When you envision nonprofit organizations, you may imagine bare-bones operations, little money flowing through the orga- nization, and poor working
2. How does its decentralized structure affect the responsi- bilities that employees take on? When you envision nonprofit organizations, you may imagine bare-bones operations, little money flowing through the orga- nization, and poor working conditions for employees more dedicated to a cause than
1. How does the Rainforest Alliance balance employee wel- fare with pursuing its mission as a nonprofit? When you envision nonprofit organizations, you may imagine bare-bones operations, little money flowing through the orga- nization, and poor working conditions for employees more dedicated to a
3. If ATA Engineering continues to be successful and to grow, do you think its organizational structure and corpo- rate culture will be affected? How often do you see genuine and effective teamwork in your day-to-day life? At least in the workplace, the call for team- work often remains unheard.
2. ATA Engineering does not have an executive bonus system, which eliminates frustrations over pay among lower-ranking employees. Do you think this system might affect the quality of talent the company is able to attract for upper management positions? How often do you see genuine and effective
1. How does organizational structure affect the day-to-day operations and the work environment at ATA Engineering? How often do you see genuine and effective teamwork in your day-to-day life? At least in the workplace, the call for team- work often remains unheard. Not so at ATA Engineering Inc., a
Describe how communication occurs in organizations.
Compare and contrast some common forms of organizational structure.
Determine how organizations assign responsibility for tasks and delegate authority.
Distinguish between groups and teams, and identify the types of groups that exist in organizations.
Describe how specialization and departmentalization help an organization achieve its goals.
Define organizational structure, and relate how organizational structures develop.
Form groups and assign the responsibility of locating examples of crisis management implementation for com- panies dealing with natural disasters (explosions, fires, earthquakes, etc), technology disasters (viruses, plane crashes, compromised customer data, etc), or ethical or legal disasters. How
3. Given the high failure rate of start-ups, would you be willing to start a new business? By its very nature, entrepreneurship is steeped in risk. Even the most innova- tive ideas can sometimes fail if the pub- lic does not catch on. Given this, anyone considering him or herself to be an entre-
2. Why is failure not always a negative in the business world? Name a positive outcome from a business failure. By its very nature, entrepreneurship is steeped in risk. Even the most innova- tive ideas can sometimes fail if the pub- lic does not catch on. Given this, anyone considering him or
1. Why can risk taking as an entrepreneur sometimes be a positive thing? By its very nature, entrepreneurship is steeped in risk. Even the most innova- tive ideas can sometimes fail if the pub- lic does not catch on. Given this, anyone considering him or herself to be an entre- preneur is a
The first thing you need to be think- ing about is "What is the mission of your business? What is the shared vision your team members have for this business? How do you know if there is demand for this particular business? Remem- ber, you need to think about the customer's ability and willingness
Although the text describes each of the five management functions separately, you learned that these five functions are interrelated, and managers sometimes per- form two or more of them at the same time. Here you will broaden your perspective of how these func- tions occur simultaneously in
3. You are a manager of a firm that manufactures conventional ovens. Over the past several years, sales of many of your products have declined; this year, your losses may be quite large. Using the steps of the decision-making process, briefly describe how you arrive at a strategy for correcting the
2. Interview a small sample of managers, attempting to include representatives from all three levels and all areas of management. Discuss their daily activities and relate these activities to the management func- tions of planning, organizing, staffing, directing, and controlling. What skills do
1. Give examples of the activities that each of the following managers might be involved in if he or she worked for the Coca-Cola Company: Financial manager Production and operations manager Personnel manager Marketing manager Administrative manager Information technology manager Foreman
10. What is the mathematical formula for perfect management? What do managers spend most of their time doing?
8. What are three styles of leadership? Describe situations in which each style would be appropriate.
6. In what areas can managers specialize? From what area do top managers typically come?
4. Name the five functions of management, and briefly describe each function.
3. What went wrong with decision making at Countrywide? Countrywide Financial was the largest provider of home loans in the country before becoming involved in the subprime mortgage scandal. At first, Countrywide's offering of subprime loans looked like a good way to help lower-income individuals
2. How could top management better manage risks so as to prevent a Countrywide-type scandal? Countrywide Financial was the largest provider of home loans in the country before becoming involved in the subprime mortgage scandal. At first, Countrywide's offering of subprime loans looked like a good
1. Which management functions did Countrywide fail to implement properly (planning, organizing, staffing, direct- ing, or controlling)? Countrywide Financial was the largest provider of home loans in the country before becoming involved in the subprime mortgage scandal. At first, Countrywide's
3. What decisions have Nike managers made to improve the reputation of the company and increase sales? Sustainable products are usually great for business, but Nike discovered going green doesn't always work. In 2005, the com- pany launched "Considered," a line of eco-friendly shoes made from hemp.
2. Shoes and textiles are notoriously polluting industries. What has Nike done to improve its reputation as an envi- ronmentally friendly company? Sustainable products are usually great for business, but Nike discovered going green doesn't always work. In 2005, the com- pany launched "Considered,"
1. Why did the "Considered" line fail? Sustainable products are usually great for business, but Nike discovered going green doesn't always work. In 2005, the com- pany launched "Considered," a line of eco-friendly shoes made from hemp. Quickly nicknamed "Air Hobbits," the line flopped. Nike
• Summarize the systematic approach to decision making used by many business managers.
• Specify the skills managers need in order to be successful.
• Distinguish among three levels of management and the concerns of managers at each level.
• Describe the major functions of management.
• Define management, and explain its role in the achievement of organizational objectives.
Explore successful global franchises. Go to the compa- nies' Web sites and find the requirements for applying for three franchises. The chapter provides examples of suc- cessful franchises. What do the companies provide, and what is expected to be provided by the franchiser? Com- pare and contrast
3. What are the cons of buying into the Sonic franchise? For those who are nostalgic for the classic drive-in diner experience, the Sonic fast-food chain helps fill that need. Sonic offers customers a dose of nostalgia with its 1950s-style curbside speakers and carhop service. As the United States'
2. What are the pros of becoming a Sonic franchisee? For those who are nostalgic for the classic drive-in diner experience, the Sonic fast-food chain helps fill that need. Sonic offers customers a dose of nostalgia with its 1950s-style curbside speakers and carhop service. As the United States'
1. What is Sonic's competitive advantage over other fast food franchises? For those who are nostalgic for the classic drive-in diner experience, the Sonic fast-food chain helps fill that need. Sonic offers customers a dose of nostalgia with its 1950s-style curbside speakers and carhop service. As
1. Evaluate the idea of a low-fat cookie and muffin retail store.
Background: The entrepreneurial success stories in this chapter are about people who used their creative abilities to develop innovative products or ways of doing something that became the basis of a new business. Of course, being creative is not just for entrepreneurs or inventors; creativity is
3. Using the business plan outline in Appendix B, create a business plan for a business idea that you have. (A man named Fred Smith once did a similar project for a business class at Yale. His paper became the basis for the business he later founded: Federal Express!)
2. Using business journals, find an example of a com- pany that is trying to emulate the factors that make small businesses flexible and more responsive. Describe and evaluate the company's activities. Have they been successful? Why or why not?
1. Interview a local small-business owner. Why did he or she start the business? What factors have led to the business's success? What problems has the owner experienced? What advice would he or she offer a potential entrepreneur?
9. What demographic, technological, and economic trends are influencing the future of small business?
6. What types of financing do small entrepreneurs typically use? What are some of the pros and cons of each?
3. Do you think Algenol will be a successful business idea? Why or why not?
1. What are the benefits of producing ethanol from algae (versus corn or sugarcane)?
3. What do you think of the idea that this product is healthy? It is chocolate, after all.
2. Do you think MXI Corp. sounds like a legitimate business, or do you think critics are correct?
1. What is the appeal of participating in a direct-selling organization like MXI or Avon?
Assess two entrepreneurs' plans for starting a small business.
Explain why many large businesses are trying to "think small."
Evaluate the demographic, technological, and economic trends that are affecting the future of small business.
What is an estate plan, and why is it important to have a will?
What are some of the gender differences that create special financial planning concerns?
What are the different types of insurance decisions that you will have to make?
Why is it important to learn as much as possible about retirement plans?
What should you know about investment choices in determining the best alternative for your risk tolerance?
Why is it important even for entry-level employees to develop a savings plan?
What are some of the dangers or abuses that occur when using credit cards?
Why should you develop a budget?
What is the difference between short-term and longterm financial goals?
How do you determine your personal net worth?
Understand the concept of estate planning.
Evaluate how insurance is a part of your personal financial planning.
Examine savings and investment choices.
Learn how to manage and use credit in your personal life.
Examine how to create and manage a personal financial budget.
Determine short-term and long-term personal financial goals.
Learn how to evaluate your financial situation.
Why was the Dodd-Frank Act passed?
What was the purpose of the Sarbanes-Oxley Act?
What are the important steps to developing an ethics and compliance program?
Why is there the need for additional regulation to resolve issues related to the Internet?
What are some of the most important laws that affect business practices?
What are the major elements of business law?
Why is it important to understand how regulatory administrative agencies resolve disputes and protect the public?
How does the court system work to resolve business disputes?
What are the sources of law relating to both criminal and civil actions?
Respond immediately to misconduct and take reasonable steps to prevent further criminal conduct.
Enforce standards and punishments consistently across all employees in the organization. ____________________
Establish systems to monitor and audit misconduct and to allow employees and agents to report criminal activity. ____________________
Communicate standards and procedures to employees, other agents, and independent contractors through training programs and publications. ____________________
Avoid delegating authority to people known to have a propensity to engage in misconduct. ____________________
Designate a high-level compliance manager or ethics officer to oversee the compliance program. ____________________
Develop standards and procedures to reduce the propensity for criminal conduct. ____________________
What is the SEC hoping to achieve by offering whistleblowers rewards for large misconduct convictions against firms.
Why does the SEC feel that it is unfair for an employment contract to limit the ability of employees to receive financial rewards for blowing the whistle?
How is the SEC trying to prevent employers from silencing whistleblowers?
Demonstrate the impact of the Dodd-Frank Wall Street Reform and Consumer Protection Act on business decisions.
Explore the Sarbanes-Oxley Act and its impact on business decisions.
Investigate legal issues related to the Internet.
Examine laws that determine parameters and requirements for business decision making.
Examine the important elements that relate directly to business law.
Review regulatory agencies that oversee business conduct.
Learn how the legal system resolves disputes.
What are some of the costs involved with closing a business location that does not earn enough money?

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Business Foundations A Changing World 11th Edition O. C. Ferrell, Geoffrey Hirt, Linda Ferrell - Solutions

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