Questions and Answers of Contemporary business

Identify the major changes in the workforce that will affect the way managers build a world-class workforce. Why is the knowledge economy so important?
Identify four qualities that managers of the 21st century must have. Why are these qualities important in a competitive business environment?
The entrepreneurial spirit fuels growth in the U.S. economy. Choose a company that interests you—one you have worked for or dealt with as a customer—and read about the company by visiting its
Branding distinguishes one company's goods or services from those of its competitors. Each company you purchase from hopes that you will become loyal to its brand. Some well-known brands are Amazon,
More and more businesses are forming strategic alliances to become more competitive. Sometimes, businesses pair up with not-for-profit organizations in a relationship that is beneficial to both.
This chapter describes how the nature of the workforce is changing: the population is aging, the labor pool is shrinking, the workforce is becoming more diverse, the nature of work is changing, the
Today's business leaders must guide their employees and organizations through the changes brought about by technology, marketplace demands, and global competition. Choose a for-profit or
General Electric, who manufactures water heaters, among many other products, has recently moved production back to the United States from China. As global economic conditions have changed,
In addition to companies, virtually all not-for-profit organizations have websites. Four websites are listed below, two for companies (Lululemon and Best Buy) and two for not-for-profits (Mayo Clinic
Visit the website for the U.S. Bureau of Labor Statistics—a good source of basic demographic and economic data. On the home page, scroll down to the Career Information box and click on
Stricken with childhood polio, Frank C. Mars learned the art of hand dipping chocolate in his mother's kitchen and went on to start Mars back in the early 1900s. A privately held business in its
A little over two decades ago, Jack Ma founded Alibaba Group in his Hangzhou apartment. Alibaba includes an online payment system, Alipay, and two ecommerce sites, Tmall and Taobao. Valued at close
At TripAdvisor, a global travel website with user-generated reviews and opinions, competition within the global travel industry remains cutthroat and intense. Steve Kaufer is the co-founder and CEO
If a company is meeting all its responsibilities to others, why do ethical conflicts arise?
What role can an ethics compliance officer play in a company?
What are the three components of a typical company's approach to ethics and social responsibility?
Identify the four levels of a company's ethical environment.
What is meant by social responsibility, and why do companies exercise it?
What are the four main consumer rights?
Why do companies need to do more than just earn a profit?
What is the role of the Securities and Exchange Commission?
In what ways do individuals make a difference in a company's commitment to ethics? Describe the three stages in which an individual develops ethical standards.
What type of ethical dilemma does each of the following illustrate?(A situation might involve more than one dilemma.)a. Due to a corporate merger, an advertising agency suddenly finds itself
Describe how ethical leadership contributes to the development of each of the other levels of ethical standards in a corporation.
In what ways do companies demonstrate their social responsibility?
Take the company you chose for question 2 (or choose another), and search for information about the company's social and environmental responsibility practices. Some companies publish annual
Warren Buffett is a world-famous investor and CEO of conglomerate Berkshire Hathaway, which includes companies as diverse as Kraft Heinz, Geico Auto Insurance, and Benjamin Moore Paints. Buffett
As technology becomes more pervasive, new and complex ethical issues have arisen in the workplace, which have contributed to ethical and, at times, legal challenges for employers and
Go to the Boeing website and review its supplier page listed below. With more than 23,000 different suppliers listed, review and list the criteria and expectations Boeing uses when choosing
People volunteer for a variety of reasons. Visit the following website and choose a few of the organizations that interest you. List some of the reasons you might volunteer with each of the selected
Go to the National Whistleblowers Center website to outline and discuss the rights of whistleblowers (FAQ page under “Resources” tab). Either in small groups or individually, prepare a report
If you've ever wondered how much your boss or co-workers make, you would know if you worked at Whole Foods. While most companies keep salary information confidential, the Austin, Texas–based
In an effort to solve some of the world's most pressing problems, Mark Zuckerberg and his wife Dr. Priscilla Chan created a philanthropic organization to pledge 99% of their shares in Facebook. The
Timberland got its name from the iconic yellow work boot introduced more than four decades ago. Nathan Swartz founded the company in South Boston as the Abington Shoe Company, and he set out to
Define microeconomics and macroeconomics
On which economic system is the U.S. economy based?
Describe two ways in which global expansion can benefit a U.S. firm.
Describe the four different types of competition in the private enterprise system. In which type of competition would each of the following businesses be likely to engage?a. United Airlinesb. small
What are the four stages of the business cycle? In which stage do you believe the U.S. economy is now? Why?
Choose one of the following products and describe the different factors that you think might affect its supply and demand.a. Nike running shoesb. the latest smart phone releasec. web conference
Go online to research one of the following government agencies—its responsibilities, its budget, and mission. Then make the case for privatizing it:a. Veterans Administrationb. Bureau of the
Some businesses automatically experience seasonal unemployment. More and more, however, owners of these businesses are making efforts to increase demand—and employment—during the off season.
On your own or with a classmate, go online to research the economy of one of the following countries. You may use the World Factbook website (http://www.cia.gov) to learn about the type of economy
Go to the Federal Reserve Bank of Minneapolis website listed below to see the calculator called “What is a dollar worth?” You can also download the feature as a free app. The calculator allows
In the United States, the Bureau of Labor Statistics (BLS) compiles and publishes data on unemployment. Go to the BLS website and click on “Unemployment” (under “Subjects”). Read through the
Go to the U.S. Debt Clock website to see the dizzying array of real-time estimates of debt. This website was created by an individual who wanted to alert people to the amount of debt in the United
With an anticipated population increase of 2 billion by 2050, global demand for food is increasing. Go online to conduct current research on supply and demand with regard to the agricultural market,
Sysco, the country's largest food distributor to hotels, restaurants, and other food-service operations, tried to acquire rival US Foods for $$8.2$ billion. As part of its overall strategic plan,
If you have a cash flow issue and a rare piece of art you can do without, consider checking out what was once thought of as a lender of last resort. People facing layoffs with depleted savings, or
Just about everyone remembers a favorite comic book from childhood—whether it was Spiderman, Tintin, or even Garfield. Leon Avelino and Barry Matthews readily acknowledge that they are kids in
What is a multidomestic business strategy? What are its advantages?
Why have developing countries such as China and India become important international markets?
Use the most recent edition of “The Fortune Global 500,” which usually is published in Fortune magazine in July, or go to Fortune's online version at http://fortune.com.a. On what data is the
Visit the website of the World Trade Organization.Research two current trade disputes. Which countries and products are involved? What, if anything, do the two disputes have in common? What
What does “Made in the USA” really mean, and how does one know whether the many parts that go into assembling a product are actually all made in the United States? The Federal Trade Commission
Nike is one of the world's largest and best-known global corporations. Visit the company's website. Where is the company headquartered? What are its products? Where are they manufactured? As a global
If you've looked around your neighborhood or college campus, you may have noticed more bicycles—and the increased popularity of custom-designed bicycles. A recent report indicates that 34% of
According to the Cancer Institute and Hospital in Beijing, the five-year survival rate for cancer patients in China is 30%, as compared to 70% in the United States. To tap into the healthcare market
Can you guess which global travel website has over 600 million reviews and opinions; contains 60 million photos from travelers worldwide; and includes more than 7.5 million hotels, bed and
How does the Small Business Administration (SBA) define small business?
What are the three key ways in which small businesses contribute to the economy?
What percentage of small businesses remain in operation five years after starting? Ten years?
What are the various ways the SBA helps small businesses?
What are business incubators?
What are the benefits to both parties of franchising?
What are the potential drawbacks of franchising for both parties?
What is the main characteristic of a not-for-profit corporation?
Distinguish between a merger and an acquisition.
Research a large company to find out more about its beginnings as a start-up or small business. Who founded the company? What were the company's original offerings, and how do they differ today?
Go to the website for Entrepreneur and research information on “Franchise 500,” the magazine's top franchises. Choose one that interests you and evaluate the information about its start-up
Think of your favorite small business—you know, the one where they know you by name. Maybe it's your hair or nail salon, coffee shop, or corner market. Interview the owner of the business and ask
Identify an organization—such as the Corporation for Public Broadcasting or the United States Postal Service—that is owned by a unit or agency of government. Discuss the pros and cons of whether
Discuss your experience and thoughts about crowdfunding sites as an alternative to funding by big banks. Have you ever contributed to a crowdfunding campaign, and if so, what were the details of the
Go to the Cranberry Growers cooperative website and click on “Who We Are” to learn more about the 700 families who have been Ocean Spray cranberry growers, some for generations.Compare and
Kleiner Perkins Caufield & Byers is regarded by Wall Street as one of the largest and most established venture capital firms in the country. Go to the company's website and click on “companies”
Neil Blumenthal and Dave Gilboa are the entrepreneurs who started Warby Parker, the online eyewear company. Perform research to determine the unique talents of each partner and how their combined
Table C.1 shows the relationship between the age of a driver and the number of motor vehicle accidents. The greatest number of accidents occurs between the ages of 16 and 19 and the fewest occur
Do you dream of starting your own business? Take your idea and answer as many of the self-evaluation questions in Figure E.1 as you can. Share your answers with the class. Then file your answers away
What “areas of interest” or “focus areas” related to the environment were included in Nutrien’s annual ESG report?A. Climate change, water, waste, environmental incidents, biodiversity, and
What percent of IAG’s total GHG emissions were Scope 3? What percentage of IAG’s Scope 3 emissions were identified as being from fuel and energy-related activities?A. 76%. 23.3%.B. 23.3%. 76%.C.
What frameworks are referenced/used in Nutrien’s annual ESG report?A. SASB, GRI, TCFD, and International Business Council Stakeholder Capitalism Index.B. SASB, GRI, TCFD, and UN SDGs.C. SASB, GRI,
What did IAG identify as “material issues” related to the “planet” (or environment)? What standards did itreference in defining sustainability and material issues?A. Reducing our climate
The Royal Bank of Canada annual report identifies emerging risks likely to be financially material. Which of these risks relate to social issues that are included in ESG reporting?A. Information
Which of Bank of America’s “2021 ESG Highlights” relate to the social pillar of ESG reporting?A. Racial equality and economic opportunity, sustainable finance, climate actions and coalitions,
Bank of America’s Annual report measures changes over time in the diversity of its leadership, management, and global workforce. Since 2015, what does it report as the increased percentage of
Which of the UN SDGs does the RBC Annual Diversity and Inclusion Report identify and align with?A. 5, 8, and 10.B. 1, 8, 5, and 10.C. 1, 5, and 10.D. 1,3, 8, and 10.
Match each of the following terms with the associated definitionby entering the number of each term in the correct box:1. Framework2. Standards3. Comparable4. Neutral5. Verifiable6. Aligned7.
If proposed rules are passed by the SEC in December 2022, there will be changes to the way in which companies are required to report and disclose on the following:A. Scope 1 and 2 emissions.B. Scope
What characteristics does the SASB consider when developing sustainability accounting metrics for ESG reporting?A. Prevalent and actionable.B. Financially impactful and of interest to users.C.
State Street linked its 2021 Annual ESG report to numerous reporting guidelines, frameworks, and principles in the appendices. They include which of the following:A. SASB, TCFD, GRI, UN SDGs, and EU
What percentage of topics identified as likely to be material to Brookfield relate to the Governance pillar of ESG reporting?A. 38%.B. 19%.C. 25%.D. 47%.
Match the governance topics discussed in Brookfield’s 2021 ESG report with the associated description by entering the number of each topic in the correct box:1. Board effectiveness2. Board skills
What are some of the governance issues that State Street considers when identifying target companies to work with?A. Corporate reporting, long term strategy, and supply chain management.B. Supply
Consumer protection is an idea that started in the early 1900s and continues today. Choose an industry that you think should—or will—be the next area of concern for consumer protection law. For
Visit the website listed below to explore careers in finance. How many people currently work as financial managers? What is the projected increase in employment over the next 10 to 20 years? What is
Your new small business has grown, but it now needs a large amount of capital. A venture capital firm has agreed to provide the money you need. In return, the venture capital firm will own 75 percent
Assume you would like to start a business. Create a rough financial plan that addresses the three financial planning questions listed in the text.
One recruitment firm executive suggests that companies are still hesitant to take a risk on promoting a woman to a senior position because she doesn’t “fit” their standard leadership profile.
What is the structure of the finance function at the typical firm?
Explain the risk-return trade-off and give two examples.

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