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business
contemporary business
Questions and Answers of
Contemporary business
It is often said that successful salespeople today must be “nimble.” What does it mean to be nimble as a salesperson and as a sales organization?
Take a piece of paper and draw a line down the middle. Write “Pros” on the top left and “Cons” on the top right. Now, from your own perspective, come up with as many issues as you can on both
Creativity is important to sales success. What is creativity? Give specific examples of several things you have done that you think are especially creative. How might creativity be taught to
Telecommuting and using a virtual office are major aspects of many professional sales positions. How do you feel about telecommuting and virtual offices? What aspects of them are you most and least
Review the top 20 key success factors for salespeople as listed in Exhibit 2.3. Which of these factors are currently your strongest points? Which need the most work? How do you plan to capitalize on
Pick the three selling activities presented in Exhibit 2.4 that you would most like to perform. Then pick the three you would least like to perform. Explain the rationale for your choices.
This chapter outlines the roles different members of a buying center play within an organizational buying context. Think of a purchase process you were involved in as an end-user consumer (not an
Explain the differences among a new-task purchase, modified rebuy, and straight rebuy. How will each situation alter the way a salesperson approaches a client?
What do you think are the most important ways sales can contribute to a firm’s marketing, and vice versa?
Develop a personal code of sales ethics using the ethical checklist in Exhibit 4.8 as a guide.
The chapter provides sample goals for an initial sales call on a prospect. (a) What other goals can you come up with that might be appropriate for an initial sales call? (Try for three or four more.)
Imagine you are working for a company that sells teleconferencing equipment. Draft a value proposition for selling your equipment to a sales manager who has 10 salespeople traveling two weeks a month
Do you think it is really possible to have win-win negotiations? Why or why not?
You are sales director for a company with 1,125 customers generating $30 million in sales. Calculate the number of customers and sales generated using the 80:20 rule.
What are the primary ways data is aggregated in sales analysis?
The president of Part-I-Tyme, manufacturer of salty snack foods, is dismayed over the dismal sales results for the past six months. A new product, a deluxe cookie, had been taste-tested and
Although many aptitude tests exist, their ability to predict sales performance has been weak. How do you account for this?
A sales representative for Lead-In Technologies is faced with a demand from an important customer that is in direct conflict with company policies. The customer wants several product modifications
Salespeople for the Ansul Company, a manufacturer of fire prevention systems for B2B applications, have been told they will now have to sell small fire extinguishers to the retail market. The
Maria Gomez-Simpson, a customer service rep with Mar-Jon Associates, spends considerable time traveling to various customer offices. As a result, she often arrives home late. Maria asked her manager
The sales manager for one of the nation’s largest producers of consumer goods has identified eight factors that appear to be related to effective performance. The manager of human resources, who is
College recruiters were discussing some of the students they had interviewed one day. One interviewer described an applicant with excellent credentials as follows: “She looked too feminine, like
One expert contends that sales training is not at all complicated. He predicts that, regardless of advances in communication, resources, technology, and training tools, the basic selling skills that
We know that the use of selling teams is common practice today. These teams sometimes include both salespeople and other employees. As with individual salespeople, the success of these teams depends
When OfficeSolutions, a software producer, went into business, it needed to establish market share quickly. To accomplish this, it decided to pay the sales force a straight commission. After two
Assume you are taking a selling job right out of college. What would be your own ideal compensation mix? Why?
What are the pros and cons of placing ceilings on salesperson incentives? If you were a sales manager, would you ever advocate incentive ceilings? If so, in what situation(s) and why?
Given the following information from evaluations of the performance of different sales representatives, what can you conclude about why the reps are not achieving quota? (Assume each is not making
Is sales just a numbers game, as one sales manager claims? She believes that all you have to do is make the right number of calls of the right type, and the odds will work in your favor. Make 10
Jackie Hitchcock, recently promoted to district sales manager, faced a new problem she wasn’t sure how to resolve. The district’s top sales rep is also the district’s number one problem. Brad
What is the structure of the finance function at a typical company?
Explain the risk–return trade-off.
Explain the steps involved in preparing a financial plan.
Why do companies often choose to invest excess cash in marketable securities?
Why do companies generally rely more on long-term funds rather than short-term funds?
What is an important determinant of a company's dividend policy?
Explain trade credit.
Describe venture capitalists.
Why do companies divest assets?
Using qualitative and quantitative measures, lenders utilize a review process called the “five C's of credit” to evaluate a borrower. They include an evaluation of the borrower's character
Working with a partner, assume that a company needs \($10\) million in additional long-term capital. It currently has no debt and \($40\) million in equity. The options are issuing a 10-year bond
Your new small business has really grown, but now it needs a substantial infusion of capital. A venture capital company has agreed to invest the money you need. In return, the venture capital company
In small groups or in pairs, and based upon the current economic environment, research and discuss top CFO priorities.
Technology has played an integral role in helping entrepreneurs or anyone with a cause to raise funds. The concept of peer-to-peer (P2P) lending took off during the Great Recession of 2007, when
Companies have codes of conduct, and with recent financial scandals, there are a few that have specific codes of conducts spelled out for their CFOs. Research three companies with specific codes of
Using any news source, search for a recent merger or acquisition announcement. Discuss the nature of the merger or acquisition, its terms, and, to date, its current results.
The continued acceleration of merger and acquisition (M&A) activity remains strong. As companies find it more challenging to increase revenue growth from within their organizations, big mergers
With small business loans accounting for a small percentage of a bank's lending business, some banks are providing alternative funding to small businesses. It's called supply-chain financing, and it
While on vacation in the Middle East, entrepreneur Lisa Mendelson witnessed a group of American tourists sampling halvah at an outdoor marketplace. The experience immediately brought back childhood
Define e-commerce.
Discuss mobile or m-commerce.
What is e-tailing? How does it work?
Combining enthusiasm, retail shopping, and technology, a hauler is commonly a female in her teens who creates a homemade video. The video is posted on YouTube to brag about the virtues of recent
Susan Gregg's closet was stuffed with vintage clothing and shoes. She couldn't possibly wear them all, and she didn't have space for new purchases. So she did the only thing a budding entrepreneur
What are the two general types of information systems?
What is malware, and how does a computer virus work?
What are the types of disasters to which information systems are vulnerable? Natural disasters, power failures, equipment malfunctions, software glitches, human error, and even terrorist attacks can
Distinguish between data and information. Why is the distinction important to businesspeople in their management of information?
What are the four components of an information system?
What is an intranet? Give specific examples of benefits for companies that set up their own intranets.
Why is disaster recovery important for businesses? Relate your answer to a natural disaster such as a hurricane, tornado, or fire.
Describe three information technology trends.
A number of different storage options are available for students, including Google, Dropbox, and the steadfast USB flash drive. Take a poll among students to determine which storage options they
Has your computer ever been hacked or attacked by a virus? What steps did you take to recover lost files and data? What steps have youtaken to prevent something similar from happening again?
How has the smart phone impacted business?
What is disruptive innovation?
What is a database?
Explain the Internet of Things (IoT) and Blockchain.
What is Augmented and Virtual Reality?
What steps can organizations and individuals take to prevent cybercrime?
A little over a decade ago, while attempting to help his cousin Nadia with math, Salman “Sal” Khan stumbled upon the idea to upload a few tutorials onto YouTube for a more interactive learning
Over the next decade, one of the hottest trends will be digital reality —a blending of augmented reality (AR), virtual reality (VR), mixed reality, 360°, and immersive technologies. Augmented
As a member of Zipcar, the world's largest car-sharing service, consumers avoid the costs associated with car ownership: gasoline, insurance, maintenance, and parking. Based in Cambridge,
What are the three business activities that involve accounting?
What are the four basic requirements to which all accounting rules must adhere?
What is the purpose of the IASB?
What is accrual accounting? Give an example of how accrual accounting affects a company's financial statement.
Using LinkedIn or your personal or professional network, make contact with someone who works as an accountant at either a public accounting firm, government, or nonprofit to set up an interview. Ask
Using open book management, companies make it a practice to share financial and company information with employees. The risk-reward relationship is that sharing what might be sensitive information
Identify two public companies operating in different industries. Collect at least two years' worth of financial statements for the firms. Calculate the financial ratios discussed in the chapter.
Human asset accounting, also referred to as human resource accounting, considers the value and role of people within an organization. This includes their replacement cost. How would you apply the
Letter to Shareholders. Berkshire Hathaway's annual letter to shareholders, written by CEO Warren Buffett, happens to be one of the most interesting, down-toearth, folksy, and unique communications
Apple's balance sheet. Go to Apple's website to review the company's most recent annual report. Find the balance sheet and the corresponding discussion. Using concepts from the chapter, review and
Preparing a personal balance sheet. Go online to find a template for a personal balance sheet. Fill in as many items as you can, and create your own asset categories if needed. Upon evaluating your
A crime fighter might not immediately come to mind when most people think about the role an accountant plays in everyday business. Yet the rapidly growing field of forensic accounting involves
The Internet of Things (IoT), as discussed in Chapter 14, has blurred the line between products and services - and, as a result, taxes. The issue is how companies are taxed, because products are
The success of the Mei Mei Group, which includes its Street Kitchen food truck and its new restaurant, can be credited to three siblings from the Boston area. Andy, Irene, and Margaret Li's
What is a government bond? A municipal bond?
What are the primary differences between commercial banks and savings banks?
How is the Fed organized?
List the three tools the Fed uses to control the supply of money and credit.
List two ways in which the securities markets are self regulated.
Where do U.S. banks rank compared with international banks?
Day trading refers to buying and selling securities (stocks and bonds, for example) in the same day, with hopes of an upward price movement. What information does a day trader need to make accurate
You've probably heard of U.S. savings bonds-you may even have received some bonds as a gift. What you may not know is that two different types of savings bonds exist. Do some research and compare and
Working with a partner, assume you are considering buying shares of Lowe's or Home Depot. Describe how you would go about analyzing the two companies' stocks and deciding which, if either, you would
Discuss investment strategies with regard to diversification and asset allocation for someone in their 20 s versus someone in their 40s. How does risk tolerance change with age? Discuss in pairs or
How would you decide whether to use an investment advisor or stockbroker at a full-service brokerage firm such as Charles Schwab or to open a brokerage account and try your hand at do-it-yourself
Virtual stock trading. The website listed below is a virtual stock contest and training ground of sorts for students and investors alike. Go to the site, read "Getting Started" as well as the
Researching and managing investments. Go to the website listed below this paragraph, sponsored by the U.S. Securities and Exchange Commission. Under "Researching \& Managing Investments," read more
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