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

What advice would you give Jack and Bruce as they start up their business?
Are there any concerns in connection with starting a small business that Jack and Bruce have not considered?
Evaluate the idea of a low-fat cookie and muffin retail store.
Using the business plan outline in online Appendix A, 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!)
Using business journals, find an example of a company 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?
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?
Why do large corporations want to become more like small businesses?
What demographic, technological, and economic trends are influencing the future of small business?
Describe the franchising relationship.
List the types of management and financial assistance that the Small Business Administration offers.
What types of financing do small entrepreneurs typically use? What are some of the pros and cons of each?
What decisions must an entrepreneur make when starting a small business?
What are the principal reasons for the high failure rate among small businesses?
What are the advantages of starting a small business? The disadvantages?
Which fields tend to attract entrepreneurs the most? Why?
Why are small businesses so important to the U.S. economy?
How was owner Marshall Powell Ledbetter III able to take the challenge of having to purchase an all-new fleet and turn it into an advantage?
As a small business, what advantages does V.I.P. Moving & Storage have that makes it appealing to customers such as the Tennessee Titans?
How does V.I.P. Moving & Storage differentiate itself from other competitors?
Explain why many large businesses are trying to “think small.” 8 Assess two entrepreneurs’ plans for starting a small business.
Evaluate the demographic, technological, and economic trends that are affecting the future of small business.
Describe how you go about starting a small business and what resources are needed.
Summarize the disadvantages of small-business ownership and analyze why many small businesses fail.
Specify the advantages of small-business ownership.
Investigate the importance of small business in the U.S. economy and why certain fields attract small business.
Define entrepreneurship and small business.
How has adopting a franchise model made PODS more adaptable?
What are some advantages of private corporations for PODS? What are some disadvantages?
What are some advantages of sole proprietorships for PODS? What are some disadvantages?
Which organizational form do you think would be best for Thomas and Bryan’s company and why?
What are the advantages and disadvantages of their forming a partnership?
What are some of the advantages and disadvantages of Thomas and Bryan forming a corporation?
Select a publicly owned corporation and make a list of its outside directors. Information of this nature can be found in several places in your library: the company’s annual report, its list of corporate directors, and various financial sources. If possible, include each director’s title and
Select a publicly owned corporation and bring to class a list of its subsidiaries. These data should be available in the firm’s corporate annual report, Standard & Poor’s Corporate Records, or Moody Corporate Manuals. Ask your librarian for help in finding these resources.
The most common example of a cooperative is a farm co-op. Explain the reasons for this and the benefits that result for members of cooperatives.
Which form of business requires the most specialization of skills? Which requires the least? Why?
Why would secrecy in operating a business be important to an owner? What form of organization would be most appropriate for a business requiring great secrecy?
Compare the liability of the owners of partnerships, sole proprietorships, and corporations.
Which form of business organization has the least government regulation? Which has the most?
Contrast how profits are distributed in sole proprietorships, partnerships, and corporations.
Would you rather own preferred stock or common stock? Why?
Differentiate among the different types of corporations. Can you supply an example of each type?
List two different types of partnerships and describe each.
Name five advantages of a sole proprietorship.
Propose an appropriate organizational form for a startup business.
Define and debate the advantages and disadvantages of mergers, acquisitions, and leveraged buyouts.
Describe the corporate form of organization and cite the advantages and disadvantages of corporations.
Identify two types of partnership and evaluate the advantages and disadvantages of the partnership form of organization.
Define and examine the advantages and disadvantages of the sole proprietorship form of organization.
Why did Electra—which markets itself with a “genuine Americana” message—decide to outsource production to Asia? Do you believe this is appropriate?
What are some global difficulties Electra had to overcome when it expanded into different countries?
Describe how Electra maintains a worldwide comparative advantage.
Should Audiotech consider a joint venture? Should it hire a sales force of people native to the countries it enters?
What are some of the unique problems that a small business might face in global expansion that larger firms would not?
What are the key issues that need to be considered in determining global expansion?
Many businesspeople from the United States experience frustration because yes does not always mean the same thing in other cultures. For example, the word yes in this country means, “OK, I want to respect you and not offend you.” It does not necessarily show agreement.
Until recently in this country, the eldest male was legally the ruler of the household, and the custom was to keep the women hidden.
Children in this country learn from a very early age to look down respectfully when talking to those of higher status.
While North Americans want to decide the main points at a business meeting and leave the details for later, people in this country need to have all details decided before the meeting ends to avoid suspicion and distrust.
When in this country, you are expected to negotiate the price on goods you wish to purchase.
For a man to inquire about another man’s wife (even a general question about how she is doing) is considered very offensive in this country.
When writing a business letter, people in this country like to provide a great deal of background information and detail before presenting their main points.
People from this country pride themselves on enhancing their image by keeping others waiting.
In this country, special forms of speech called keigo convey status among speakers. When talking with a person in this country, one should know the person’s rank. People from this country will not initiate a conversation without a formal introduction.
When people in this country table a motion, they want to discuss it. In America, “to table a motion” means to put off discussion.
Identify a local company that is active in international trade. What is its level of international business involvement and why? Analyze the threats and opportunities it faces in foreign markets, as well as its strengths and weaknesses in meeting those challenges. Based on your analysis, make some
Although NAFTA has been controversial, it has been a positive factor for U.S. firms desiring to engage in international business. What industries and specific companies have the greatest potential for opening stores in Canada and Mexico? What opportunities exist for small businesses that cannot
If the United States were to impose additional tariffs on cars imported from Japan, what would happen to the price of Japanese cars sold in the United States? What would happen to the price of American cars? What action might Japan take to continue to compete in the U.S. automobile market?
Compare multinational and global strategies. Which is better? Under what circumstances might each be used?
At what levels might a firm get involved in international business? What level requires the least commitment of resources? What level requires the most?
How do social and cultural differences create barriers to international trade? Can you think of any additional social or cultural barriers (other than those mentioned in this chapter) that might inhibit international business?
What is an import tariff? A quota? Dumping? How might a country use import tariffs and quotas to control its balance of trade and payments? Why can dumping result in the imposition of tariffs and quotas?
What effect does devaluation have on a nation’s currency? Can you think of a country that has devaluated or revaluated its currency? What have been the results?
Assess the opportunities and problems facing a small business that is considering expanding into international markets.
Contrast two basic strategies used in international business.
Summarize the different levels of organizational involvement in international trade.
Specify some of the agreements, alliances, and organizations that may encourage trade across international boundaries.
Investigate some of the economic, legal, political, social, cultural, and technological barriers to international business.
Explore some of the factors within the international trade environment that influence business.
Why does Warby Parker charge $4 to those in need of eyeglasses in developing countries?
How does Warby Parker integrate social responsibility into its business?
Describe Warby Parker’s ethical vision in selling eyeglasses.
How would you handle the situation if you were Barnard?
Do you see this as a potential violation of privacy? Explain.
What are some of the ethical issues in giving customers an award for consumption behavior without notifying them first?
Find some examples of socially responsible businesses in newspapers or business journals. Explain why you believe their actions are socially responsible. Why do you think the companies chose to act as they did?
Discuss with your class some possible methods of improving ethical standards in business. Do you think that business should regulate its own activities or that the federal government should establish and enforce ethical standards? How do you think businesspeople feel?
Discuss some recent examples of businesses engaging in unethical practices. Classify these practices as issues of conflict of interest, fairness and honesty, communications, or business relationships. Why do you think the businesses chose to behave unethically? What actions might the businesses
What responsibilities does business have with regard to the environment? What steps have been taken by some responsible businesses to minimize the negative impact of their activities on the environment?
List and discuss the arguments for and against social responsibility by business (Table 2-9). Can you think of any additional arguments (for or against)?
What is an ethical issue? What are some of the ethical issues named in your text? Why are they ethical issues?
Evaluate the ethics of a business’s decision.
Explain the four dimensions of social responsibility. LO
Specify how businesses can promote ethical behavior.
Define business ethics and social responsibility and examine their importance.
What are some recommendations for ways that Redbox can maintain its high market share?
How was Redbox able to overcome some of its earliest challenges?
Why are consumers so willing to rent from Redbox?
What would you do in Shelly’s position?
What challenges does Shelly face as she considers the three options?

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

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