Questions and Answers of Foundations of Business

How can robotics, computer manufacturing systems, and flexible manufacturing systems help a manufacturer to produce products?
How can a business firm improve the quality of its products or services?
Why is selecting a supplier important? What factors should be considered when selecting a supplier?
Define capacity. Why is it important for a manufacturing business or a service business?
What is the difference between basic research, applied research, and development and implementation?
How can service firms measure customer satisfaction?
What are the three phases of human resources management?
1. Assume you are part of a Ford focus group. The interviewers are interested in your comments about what features you would like in your next auto mobile. Describe three features that you think they
How is production of services different from the production of manufactured goods?
How is the production of services similar to the production of manufactured goods?
Explain how utility is related to form utility.
List the major activities involved in operations management.
1. Take a look at blog given below. What can you tell about the corporate culture of Zappos?2. How do they approach customer service? Do you think it works? Why or why not?Zappos has a
Evaluate the advantages and disadvantages of dividing Hewlett-Packard into HP Inc. and Hewlett Packard Enterprise.
Describe the “HP Way” and explain how it can be used to guide future strategic directions for Hewlett Packard Enterprise.
What departmentalization bases are likely being used at HP Inc. and Hewlett Packard Enterprise? Explain your answer.
How is the grapevine used in a business organization?
In what ways can informal groups affect a business?
What are the advantages and disadvantages of using committees?
What is the difference between a committee and a task force?
Explain the four types of corporate cultures.
Describe the four forms of organizational structure. Give an example of each form.
What do you consider the most important challenge that will face people in the United States in the years ahead?
Choose one of the environments that affect business and explain how it affects a small electronics manufacturer located in Portland, Oregon.
What is the difference between the domestic system and the factory system?
How does your standard of living affect the products or services you buy?
Is competition good for business? Is it good for consumers?
How can the Federal Reserve and government use monetary policy and fiscal policy to reduce the effects of an economic crisis?
At the time you are studying the material in this chapter, which phase of the business cycle do you think the U.S. economy is in? Justify your answer.
How does inflation affect the prices you pay for goods and services?
How does an increase in productivity affect business?
What is the difference between a manufacturing business, a service business, and a marketing intermediary?
Once you have a job, what steps can you take to be successful?
Describe the two spans of management.
Identify and describe the three steps in the delegation process.
What are the four most common bases for departmentalization? Give an example of each.
What are three ways to reduce the negative effects of specialization?
What are the positive and negative effects of specialization?
Identify the major considerations when organizing a business.
How do large and small organizations use organization charts differently?
1. Check out a few of these crowdsourcing companies. What are your thoughts? Do you think they are effective? Why or why not?2. Which type of leadership is most likely to include the use
Managers need five key skills to succeed. Of the five, which do you think will be most valu-able to Heidi Ganahl now that she’s been freed from day-to-day management to spend her time focusing on
How would you describe Heidi Ganahl’s leadership style? Why is it appropriate for her role at Camp Bow Wow?
When Heidi Ganahl talks with franchisees about performance expectations and measurements, what part of the management process is she describing? Why is this so important in a franchising business?
Describe the major components of a TQM program.
Why does top management need to be strongly committed to TQM programs?
Why does a manager need to evaluate the solution and look for problems after a solution has been implemented?
Describe the major steps in the managerial decision-making process.
Choose one of the challenges listed on page 30 and describe possible ways in which business and society could help to solve or eliminate the problem in the future.
Discuss this statement: “Business competition encourages improved product quality and increased customer satisfaction.”
Does an individual consumer really have a voice in answering the basic four economic questions described on page 14 ?
Describe the major leadership styles.
For each skill, provide two reasons why a successful manager should have that skill.
What are the key skills that successful managers should have?
Identify the various areas of management specialization, and describe the responsibilities of each.
Describe the three levels of management.
What are the three steps of controlling?
What kind of motivations do different employees have?
What is a plan? Differentiate between the major types of plans.
Why is planning sometimes referred to as the “first” management function?
What are the four kinds of resources?
What is management?
How, specifically, can customers evaluate the search qualities, experience qualities, and credence qualities of MBSC?
Mike Boyle only wants to attract customers who will be frequent users of his facilities and training services. What does this suggest about how MBSC manages service expectations?
In terms of services marketing, why is it important for customers to see Mike Boyle working out and supervising trainers at his gym facilities every day?
What are the global perspectives in small business?
How does the SBA help small-business owners who want to enter the world markets?
Describe the three general categories of franchising arrangements.
Give examples of how small businesses fill needs of society and other businesses.
a. Take a minute to explore these sites and view some of the projects up for funding. How are these projects organized? Do you think these models are effective? Why or why not?b. Both
Imagine you’re an angel investor looking to invest in young companies. What questions would you ask the management team at Project Repat before making a final decision about investing in it?
One of the co-founders of Project Repat is no longer with the company, although he retains a small ownership stake. What complications might this change have caused if Project Re-pat was set up as a
Considering the tax benefits, why would investors not want Project Repat to be an S corporation?
As an entrepreneur, you’ll face lots of tough and sometimes ethical decisions In the situation described below, what do you think is the right thing to do. A potential customer wants to visit your
Why might an investor choose to become a partner in a limited partnership instead of purchasing the stock of an open corporation?
Describe the current merger trends and how they affect the businesses involved and their stockholders.
What happens when a firm makes a decision to grow from within?
In your own words, define a joint venture and a syndicate.
How does a regular (C) corporation differ from a not-for-profit corporation?
Explain the difference between an S corporation and a limited-liability company.
How is a domestic corporation different from a foreign corporation and an alien corporation?
Explain the difference between an open corporation and a closed corporation.
What are the advantages of a partnership?
Describe the issues that should be included in a partnership agreement.
Explain the difference between a general partner and a limited partner.
How does a sole proprietorship differ from a partnership?
1. View at least three different YouTube videos about Nike’s sustainability efforts.2. Based on the information in the videos you watched, do you believe that Nike is a good corporate
Why would the sale of counterfeit products through its sites be damaging to Alibaba?
What are some of the barriers Alibaba is facing as it expands globally?
What is the International Monetary Fund? What types of loans does the IMF provide?
What is a multilateral development bank (MDB)? Who supports these banks?
What is the Export-Import Bank of the United States? How does it assist U.S. exporters?
What is the North American Free Trade Agreement (NAFTA)? What is its importance for the United States, Canada, and Mexico?
What is the importance of exports to the U.S. economy?
According to the IMF, what are the economic growth projections for 2017 and 2018?
What are the steps in entering international markets?
What is a letter of credit? A bill of lading? A draft?
What is the difference between balance of trade and balance of payments?
1. Do you think this was an effective strategy for Pepsi? Do you think this resonated with the Millennial generation?2. Do you think this is a good example of corporate social responsibility
What advantages does Theo Chocolate have by sourcing cocoa from the Congo, even though the chocolates ends up costing consumers more?

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