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business
contemporary business
Contemporary Business 17th Edition James E Deitz ,James L Southam - Solutions
Why do exchange rates pose a challenge for financial managers of companies with international operations?
What are the principal considerations in determining an overall credit policy? How do the actions of competitors aff ect a company’s credit policy?
Describe the financial planning process. How does asset intensity aff ect a financial plan?
Explain the risk–return trade-off and give two examples.
What is a cash budget? Briefly outline what a simple cash budget might look like.
List the four categories of financial ratios and give an example of each. What is the purpose of ratio analysis?
What is accrual accounting? Give an example of how accrual accounting aff ects a company’s financial statement.
List and explain the major items found on an income statement.
What is the diff erence between a current asset and a long-term asset? Why is cash typically listed first on a balance sheet?
List the four major financial statements. Which financial statements are permanent, and which are temporary?
What is double-entry bookkeeping? Give a brief example.
What does the term GAAP mean? Briefly explain the roles of the Financial Accounting Standards Board and the Securities and Exchange Commission.
What are the three major business activities in which accountants play a major role? Give an example of each.
Define accounting. Who are the major users of accounting information?
Describe three information technology trends.
Why is disaster recovery important for businesses? Relate your answer to a natural disaster such as a hurricane, tornado, or fire.
How does a computer virus work? What can individuals and organizational computer users do to reduce the likelihood of acquiring a computer virus?
What steps can organizations and individuals take to prevent cybercrime?
What is an intranet? Give specific examples of benefits for companies that set up their own intranets.
What are the major categories of computers? What is a smart phone?
Explain decision support systems, executive support systems, and expert systems.
Describe the two diff erent types of information systems, and give an example of how each might help a particular business.
What are the four components of an information system?
Distinguish between data and information. Why is the distinction important to businesspeople in their management of information?
What are the four alternative pricing strategies that marketers use? Give an example of the circumstances under which each might be selected.
Define the four basic categories of pricing objectives.
Describe the seven-step sales process.
Under what circumstances are companies likely to emphasize personal selling?
If you were a marketer for Rolex, what kind of sales promotion might you use for your watches?
For each of the following, describe potential benefits and drawbacks of a sponsorship relationship:a. BMW and the Snowboard FIS World Cupb. Bank of America and the Chicago Marathonc. Mattel Corporation and the Special Olympics
What are the benefits of online and interactive advertising? What might be some drawbacks?
Identify and define each of the three categories of advertising based on their purpose. Which type of advertising might marketers use for the following products?a. carsb. e-readerc. organic produced. renter’s insurance
What are the five major objectives of a promotional strategy?
What is the purpose of integrated marketing communications?
Define logistics. How does it relate to physical distribution?
What are the three intensity levels of distribution? Give an example of two products for each level.
Identify and briefly describe the four diff erent types of nonstore retailers. Give an example of at least one type of good or service that would be suited to each type of nonstore retailer.
What is the wheel of retailing? How has the Internet aff ected the wheel of retailing?
What are the advantages of direct distribution? When is a producer most likely to use direct distribution?
What are the three stages of brand loyalty? Why is the progression to the last stage so important to marketers?
What is the diff erence between a manufacturer’s brand and a private brand? What is the diff erence between a family brand and an individual brand?
Identify and briefly describe the six stages of new-product development.
What is the relationship between a product line and a product mix?Give an example of each.
Classify each of the following business-to-consumer (B2C) and business-to-business (B2B) goods and services. Then choose one and describe how it could be classified as both.a. Runner’s World or Esquire magazineb. six-pack of apple juicec. limousine serviced. tech support for a corporate cloud
What are the benefits of relationship marketing? Describe how frequency and aff inity programs work toward building relationships.
What are the three major determinants of consumer behavior?Give an example of how each one might influence a person’s purchasing decision.
Explain each of the methods used to segment consumer and business markets. Which methods do you think would be most eff ective for each of the following? Why? (Note that a combination of methods might be applicable.)a. supermarket featuring organic foodsb. hair-care productsc. tour bus companyd.
Describe the types of data that someone who is thinking of starting an accounting practice might choose to gather. How might this businessperson use the data in making the start-up decision?
Identify the two strategies that a firm could use to develop a marketing mix for international markets. What are the advantages and disadvantages of each?
What is a target market? Why is target-market selection usually the first step in the development of a marketing strategy?
Identify and describe the four strategies that blend to create a marketing mix.
Identify each of the following as a consumer product or a business product, or classify it as both:a. frozen yogurtb. iPadc. gasolined. boat trailere. hand sanitizerf. Post-its
Describe how an organization might combine cause marketing and organization marketing. Give an example.
Describe how an organization might combine person marketing and event marketing. Give an example.
Describe the shift from a seller’s market to a buyer’s market. Why was this move important to marketers?
Define the four diff erent types of utility and explain how marketing contributes to the creation of utility. Then choose one of the following companies and describe how it creates each type of utility with its goods or services:a. Taco Bellb. Polo Ralph Laurenc. Denver Broncos football teamd.
What is benchmarking? How can it help a company improve the quality of its goods and services?
What is inventory control? Why is the management of inventory crucial to a company’s success?
What might be the factors involved in the selection of suppliers for a steakhouse restaurant?
What would be the best facility layout for each of the following?a. a tax preparation businessb. nail salonc. car washd. sandwich shop
SeaWorld amusement parks are located in Florida, Texas, and California. What specific factors might have contributed to those choices?
Industries such as home construction and dentistry benefit from the use of CAD. In both of these, CAM could be used as well—in the manufacture of home components as well as dental implants, crowns, and the like. Choose another industry that seems like a candidate for the use of both CAD and CAM
Identify which production system—analytic or synthetic—applies to each of the following products:a. loggingb. healthcarec. soybean farmingd. fishinge. a smart phone
Why are companies now moving more toward flexible production and customer-driven production instead of mass production? Describe a product that you think would be better suited to flexible production or customer-driven production than mass production. Explain your choice.
Why is production such an important business activity? In what ways does it create value for the company and its customers?
What is utility? How does production create utility?
What is the role of external communication? Why is it so important to companies?
In what ways is context a powerful influence on the eff ectiveness of communication? Describe an instance in which situational or cultural context has influenced one of your communication processes.
What steps can managers take to resolve team conflict?
Describe the norms associated with your business class. How do these norms influence the way students behave in class?
At what stages of development might a team not be able to move forward? How might a team leader or manager resolve the situation?
How might a company that manufactures shoes use teams to determine ways to improve its environmental standards in terms of products and processes? What type (or types) of teams would be best for this initiative? Why?
What are mediation and arbitration? Describe a situation that you think might result in arbitration.
Suppose a manager of a popular café and bakery maintains a Theory X assumption about employees. At the beginning of each workweek, what types of things might the manager tell his or her employees? Now suppose the manager has a Theory Y assumption;then Theory Z. Describe what he or she might say to
Select three diff erent theories of motivation, and explain how each can be used by managers to motivate employees.
Why do companies downsize? What are some of the drawbacks to downsizing? Why do companies outsource? What are some of the drawbacks to outsourcing? What is reshoring?
On what five factors are compensation policies usually based?Name at least three employee benefits that are required by law and three more that are provided voluntarily by some companies.
Give an example of a type of job that would be appropriate for onthe-job training. Then describe specifically how you think that type of training would work for your selected job, including types of tasks a new hire might learn this way.
Recruitment and selection are costly. So, what precautions do human resource managers take to make sure they are hiring the right person for each job?
Which type of organization structure provides a company with the most flexibility to respond to changes in the marketplace and engage in innovation? What might be the drawbacks of this structure?
Why is a strong corporate culture important to a company’s success?How might the corporate culture be linked to leadership style?
From what sources might a leader derive power? Which leadership style might work best for a manager whose company is forced to make cost-cutting decisions? Why?
Identify each of the following as a programmed or nonprogrammed decision:a. purchasing school suppliesb. buying a new smart phonec. buying your favorite toothpaste or shampoo at the supermarketd. selecting a college to attende. choosing where to have lunch on campus
Define objectives. Outline objectives you might have for your own college education and career. How might this outline help you implement your own career strategy?
What is the link between a company’s vision and its mission statement?Think about your own career as a start-up venture. What is your vision? What might be your mission statement?
Suppose you planned a ski trip with the ski club at school, but when you woke up on the morning of the trip, the weather called for a storm—and to reach the ski resort requires a three-hour drive. What type of planning would you employ prior to the report of bad weather?What type of planning
Describe the relationship between a company’s vision and its ethical standards. Why is it important for top management to put forth a clear vision and ethical standards for a company?
Identify the four basic managerial functions. Suppose you were hired to be the manager of a local fitness center. Which managerial functions would likely be the biggest part of your job? In what ways?
What are the three levels of management hierarchy? For each level, which management skills might be considered most important, and why?
What is an enterprise zone? Describe what types of businesses might benefit from opening in such a zone—and how their success might be interconnected.
Describe the two main types of financing that entrepreneurs may seek for their businesses. What are the risks and benefits involved with each? Discuss alternative forms of financing.
Imagine that you and a partner are planning to launch a business that sells healthy lunch choices from an on-campus food truck. You’ll need seed capital for your venture. Outline how you would use that seed capital.
Suppose an entrepreneur is considering buying an existing business or franchise. Which of the eight entrepreneurial traits do you think would most apply to this person, and why?
When selecting a business idea, why is the advice to “do what makes you happy” and “be true to yourself” so important?
Identify the eight characteristics that are attributed to successful entrepreneurs. Which trait or traits do you believe are the most important for success? Why? Are there any traits that you think might actually contribute to potential failure? If so, which ones—and why?
How have globalization and information technology created new opportunities for entrepreneurs? How does an aging population create opportunities for entrepreneurs? Describe current demographic trends that suggest new goods and services for entrepreneurial businesses.
People oft en become entrepreneurs because they want to be their own boss and be in control of most or all of the major decisions related to their business. How might this relate to potential financial success?If there are downsides, what might they be?
Identify the three categories of entrepreneurs. How are they diff erent from each other? How might an entrepreneur fall into more than one category?
How might a joint venture between a commercial firm and a not-for-profit organization help both achieve their goals?
In a proprietorship and in partnerships the owners and the managers of the business are the same people. How are ownership and management separated in corporations?
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