Questions and Answers of Contemporary business

What is the difference between pure competition and monopolistic competition?
On your own or with a classmate, go online to research the economy of one of the following countries. Learn about the type of economy the country has, its major industries, and its competitive
If you were involved with the development of ORION, what type of input would you solicit from UPS drivers who have intimate knowledge of alternate routes, as compared with computer-generated routes?
Which economic system is the Canadian economy based on?
The dark side of the pawn industry is its lack of regulation and exorbitant loan rates. Do some additional research to discuss the benefits and drawbacks of this trend.
Discuss the environmental benefits and additional cost reductions expected with a program like ORION. Does this system have implications for other industries? Explain.
What is privatization?
What is your perception of pawnshops, and do you have personal experience or know anyone who has bought something there? Are pawnshops a substitute for banks?
Describe the four stages of the business cycle.
What are some measures that economists use to determine the health of an economy?
What is the difference between an expansionary monetary policy and a restrictive monetary policy?
What are the three primary sources of government funds?
Does a balanced budget erase the national debt?
Why is virtually no country an economic island these days?
Describe two ways in which global expansion can benefit a Canadian firm.
Explain how international trade organizations and economic communities reduce barriers to international trade.
What are some examples of business or personal mishaps that have resulted from cultural misunderstandings? How did they occur, and how were they resolved? Give specific examples and discuss among
Why do nations trade?
What impact do you think the revocation of the presidential permit on January 20, 2021, had on Canada–U.S. trade relations?
Compare the different levels of involvement used by businesses when entering global markets.
The tremendous growth of online business has introduced new elements to the legal climate of international business. Patents, brand names, copyrights, and trademarks are difficult to monitor because
Europa.eu is the Web portal for the European Union. Go to the following Web site (http://europa.eu/index_en.htm) and answer the following questions:a. What are the steps a country must take to become
What are some measures of the size of the international marketplace.
What were the potential benefits associated with the Keystone XL pipeline project? What were the potential detriments?
Microlending is the disbursement of small loans to people, typically entrepreneurs and small business owners, living in extreme poverty. Due to their lack of collateral and creditworthiness, many
Nestlé is one of the world’s largest global corporations. Visit the firm’s Web site (http://www.nestle.com). Where is the company headquartered? What are some of its best-known brands? Are these
How does a nation acquire a comparative advantage?
What do think were the motivating factors in President Biden’s decision to revoke the permit?
Briefly describe the EU and its goals. What are the pros and cons of the EU?
Compare balance of trade and balance of payments.
A typical household in Canada spends $1,766 each year on food that is purchased but not eaten. What ideas do you have on an individual level to help reduce food waste?
Use the most recent edition of “The Fortune Global 500,” which is usually published in Fortune magazine in July, or go to Fortune’s online version at http://fortune.com.a. On what is the Global
Explain the function of an exchange rate.
Food industry groups have increased their efforts to combat food waste by promoting consumer education on labelling and to standardize and clarify date labelling and expiration dates worldwide by the
What happens when a currency is devalued?
Discuss how foreigners can create a guanxi network and its importance when doing business in China.
How might values and attitudes form a barrier to trade, and how can they be overcome?
What is a tariff? What is its purpose?
How can foreign business professionals better understand guanxi’s implications and importance?
What are the upsides and downsides to a company that sells a commodity in competitive international markets?
What is CUSMA/NAFTA? How does it work?
Why is dumping a problem for companies marketing goods internationally?
Is Nutrien an MNC or a global business?
What international trade organization succeeded GATT and what is its goal?
Identify the potential risks in the global business environment that McCain Foods would have to be aware of and manage in regard to its ongoing international expansion.
Compare and contrast the goals of the World Bank and the International Monetary Fund.
What challenges might Canadian managers at McCain face when interacting with their Chinese business colleagues?
What are the goals of the European Union and how do they promote international trade?
Much of McCain’s global success seems to be closely tied to the success and efforts of its clients, McDonald’s and KFC. Describe another globalization strategy that McCain Foods might have used
Name three possible strategies for beginning overseas business operations.
Identify, through research, the specific cultural differences between China, India, and Canada that could impact how McCain Foods carries out operations.
What is countertrade?
Compare and contrast licensing and subcontracting.
Describe joint ventures.
What is a global business strategy? What are its advantages?
To whom do businesses have responsibilities?
What is a multi-domestic business strategy? What are its advantages?
Go to the website listed below. It summarizes the ethical standards for all TELUS employees. Read the material and then write a brief report that compares TELUS’s ethical standards to the
Evaluate the guidelines above. Have you compromised any of these guidelines?
If a firm is meeting all its responsibilities to others, why do ethical conflicts arise?
Write your own personal code of ethics. Create standards for your behaviour at school, in personal relationships, and on the job. Assess how well you meet your own standards. Revise your code of
On your own or with a classmate, visit the website of one of the following firms or choose another that interests you. Use what you can learn about the company from the website to construct a chart
Given the history of data breaches at Facebook, how would you feel if your Facebook content became public?
What is the three-pronged approach to ethics and social responsibility that many companies adopt? Why is it important?
Should the entire Tesla brand be held responsible for the unethical actions of its CEO?
What is the role of a firm’s ethics compliance officer?
Each year, Canada’s Top 100 rates the best companies to work for. Visit the Canada’s Top 100 website and review the most recent list. What criteria did Canada’s Top 100 use when building this
Using the company you studied for question 2 (or another company), conduct a social audit. Do your findings match the firm’s culture of ethics? If not, what are the differences, and why did they
Footwear manufacturer La Canadienne is one of the few companies in its industry that still manufactures products in Canada. Go to the website listed below to learn more about the firm’s commitment
For an employee, when does loyalty conflict with truth?
On your own or with a classmate, go online, flip through a magazine, or surf television channels to identify a firm that uses green marketing. If you see a commercial on television, go to the
Which stakeholders were harmed in this situation?
How do Starbucks’s new plans for its stores reflect its sense of social responsibility?
What factors influence the ethical environment of a business?
As a consumer, you expect the companies you do business with will have a certain level of responsibility toward you. Describe a situation when you felt that a company did not recognize your rights as
How has Starbucks involved its customers in these efforts?
How does ethical leadership contribute to ethical standards throughout a company?
What is your experience with packaging when purchasing toys, electronics, or other products? What additional solutions might you offer a toymaker like Hasbro?
How can Hasbro continue to advance its social and environmental performance agenda while maintaining profitability? What ideas would you present to company management?
What is green marketing?
What are the four commonly referred to consumer rights?
How does Pacific Biodiesel fulfill its responsibilities to the general public?
How might Pacific Biodiesel spread the message that recycling is not only good for the environment, but also good business? How might it reach out to other industries?
Why do firms need to do more than just earn a profit?
Other billionaires, like Bill Gates (Microsoft) and Warren Buffett (Berkshire Hathaway), have pledged to give away their fortunes. Some call this the spirit of the times. Do you agree? Why or why not?
What is the role of the provincial securities regulators?
Is it reasonable to assume that the ability to solve societal problems corresponds with one’s wealth? As billionaires tackle some of society’s toughest problems, what are some of the downsides?
Do you feel that corporate social responsibility has a significant impact on Cirque du Soleil’s success, or is it just a “nice to have”?
Does a firm need to publicize its corporate social responsibility efforts? Or does company‐sponsored publicity make it appear that these efforts are undertaken solely to generate revenues through
How does the Industry Canada define small business?
Rather than using a conventional approach to credit evaluation, Kiva Zip evaluates a company’s “character” (social capital) and its “trust network” to measure creditworthiness. What are the
Research a large firm to learn more about its beginnings as a small business. Who founded the company? Does the firm still produce its original product or service, or does it provide a new product or
Visit the website https://archive.canadianbusiness.com/innovation/canadian-entrepreneur-success-stories/#gallery/15-success-stories-of-inspiring-canadian-entrepreneurs/slide-1Scroll through the
Describe funding opportunities for small businesses, including the role of the Business Development Bank of Canada (BDC).
In what industries do small businesses play a significant role?
What impact, if any, will FinTech companies have on the way traditional banks do business? What must traditional banks do to remain competitive in the small-business lending sector?
Go to the Canadian Franchise Association website, www.cfa.ca to research franchises. Choose a franchise that interests you and look up its startup requirements. Would you run a franchise in a
Go to the BDC’s website at www.bdc.caClick on Articles and Tools and have a look at the articles. Identify one article that you believe provides the most useful information for a small-business
Why is Dragons’ Den successful in Canada and around the world?
Think of an idea for a small business. Research the industry and the major competition online. Draft a business plan. Will your firm be a sole proprietorship or a partnership? Include this decision

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