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business
introduction e-business management
Business Principles And Management 12th Edition James L. Burrow, Kenneth E. Everard, Brad Kleindl - Solutions
What conditions exist or could occur that would cause Yi’s employer to leave China? Obtain information from your library or the Internet to make a report to the class.
Is the headline that reads “CPI Inches Downward” good news or bad news? Explain your answer.
What did all the headlines have in common?
Explain to Marsha what the county did when it “privatized” the trash service.
Bring the business section of a newspaper to class. Determine what economic ideas presented in this chapter are directly or indirectly revealed in one or more of the headlines. If your instructor decides to divide the class into groups, pick the two best stories in your group that cover the most
You have found a partner who wants to invest $6,000 and become involved in the operation of your business. You have already invested$12,000. Develop a simple partnership agreement for the business.After you have completed the agreement, ask your business mentor to review it with you.
Develop a chart that compares the proprietorship and partnership forms of business ownership for your business. Be certain to consider financial, personal, and management factors. When you have finished the analysis, decide whether you will remain a sole proprietor or form a partnership.
Develop an outline for a business plan for your new business. Begin to list the information that will go into each section of the plan.Identify the information you need to complete the business plan and the sources of that information. Continue to develop the business plan during the time you are
Given the business plan you developed above, outline the specific skills that are needed to make your business successful. Evaluate your skills and resources that you can bring to the business. Identify other skills or resources that a partner will need to bring in.
Does John have the personality to be a sole proprietor?
Do you think John is seriously ready to become a partner? Explain your answer.
If you were in John’s position, how would you decide? Explain.
If John decides to accept Tyrone’s offer, what action should be taken next?
Why would Tyrone offer to make John a partner?
Find information from the library or the Internet that might help John make a decision. One possible source is the Web site of the Small Business Administration.
What conditions existed before the partnership was formed that gave rise to this problem?
How important are the skills and personalities of the partners to the formation of a successful partnership?
Can Sharon’s attitude toward customers somehow be changed?If so, how?
What is the best solution for this problem? Carefully explain your answer.
Do you believe that John and Sharon would be better off trading jobs with each other?
How is this partnership situation different from that of student groups that attempt to solve other types of group problems?
Most new small businesses are formed as proprietorships and partnerships rather than corporations. However, new corporations have a higher success rate than other types of business organizations.What might be some reasons for that higher success rate?
Assume that your business is successful and expands during the next five years. Identify specific situations that could occur during that five year period in which it would be beneficial to reorganize the business as a corporation. Collect and analyze the necessary legal documents.Consider changing
Assume you are going to organize your juice bar as a corporation.Use the information from the Data Collection section above to determine if your business should be a corporation, and if so, what type.
Collect and review the documents needed to register your corporation with the state and complete the formation of the corporation.
Whether they vote “for” or “against” the proposals listed on the proxy statement, how many votes can Alicia and Hugh cast?
If the proxy statement is like the one shown in Figure 6-6 and Hugh signs it but does not mark “for” or “against” the two proposals, how do you think the management will use the proxy?
If Hugh or Alicia wanted an important proposal to be made known and voted on by the stockholders, how could they achieve their goal?
How should Alicia and Hugh have received information about each of the proposals from management that would enable them to vote with adequate information?
What might an outside board member do that an inside member might not do?
Why do Alicia and Hugh need to worry about who is on the board at Shale Oil Company?
Which five company CEOs benefited their shareholders the most?Which five CEOs benefited their shareholders the least?
What general statement can you make to Takoda and his team about the fairness of pay for CEOs relative to their contributions to their corporations?
If you were just elected to serve as a board member of Citigroup, what would you recommend to other board members about the CEO’s future pay? Provide a reason for your answer.
Which CEO would most deserve a raise in pay? Justify your answer.
Alone or in teams, as specified by your instructor, gather information about CEO pay from Business Week, Fortune, or other magazines in your library or from the Internet. Prepare a report for your class that answers the question: Are CEOs overpaid, underpaid, or paid what they are worth? Include
Why are more businesses counting on multimedia presentations for sales and other promotional purposes?
Why would a multimedia presentation about forms of business ownership be useful for the Small Business Administration?
Why should the multimedia presentation be easy for many individuals to use?
Why should potential entrepreneurs pay attention to national trends for different occupational areas?
Why should the buying habits of baby boomers be considered when determining entrepreneurial ventures to pursue?
What entrepreneurship opportunities may be available to small farmers and ranchers?
How has international trade affected entrepreneurship opportunities in the United States?
Is the big-box store practicing illegal price competition? Explain your answer. If it is, what federal act is it violating?
If the big-box store is not practicing illegal price competition, how can it sell at such low prices?
Does Hitesh have a monopoly on Weaver tools in his community?
If Hitesh raises his prices by very much, what might happen? What could the big-box store do?
Is raising the price suddenly (and for the reason given) an unfair business practice? Discuss your answer.
Could Hitesh advertise that he has an exclusive contract with Weaver even though he doesn’t?
Describe what mistake the Waterside Company management made in replacing the computer system.
In what ways could Mei make the company regret not involving the employees in the decision? Explain.
If the new computer system is to be successful, will it be because of restructuring the work, installing a new computer system, or both?Explain your answer.
If the new changes are successful, how will the salespeople and customers benefit?
Create a list of the types of information that your business will need.Identify the hardware and software that you will need to turn data into information useful to management. Describe the types of skills you or your employees will need to use and maintain both the hardware and the software that
The Internet can be a very valuable tool for small businesses. Identify and describe five specific types of information, accessible through the Internet, that can help you develop and manage your business. Then use an Internet search engine to identify one or more sites that supply each type of
List three ways that e-commerce might have a negative effect on your business and three ways that you might use e-commerce to improve your new business.
Prepare a chart that compares the advantages and disadvantages of e-commerce for your business. Based on the chart, make a decision about whether you will use the Internet for your business:(a) right away, (b) after your business has operated for a few years, or (c) probably not at all.
Outline the way you would use the Internet for your business if you used it for: (a) information, (b) interaction, and (c) integration.
Look at privacy statements on several Web sites. Then write one for your company. It should state the ethical guidelines you plan to follow in the collection and use of customer data and in e-mail communications.
Using three of the Internet advertisement formats shown in Figure 9-5, develop ads you would use to encourage consumers to visit your business’s Web site. Then go to the Internet and identify three sites that accept advertising you believe would be good locations for your ads. List the URL
Do you believe it was a good idea for Jimmy Lai Chee-Ying to start a new business that competes with two very large businesses that control most of the grocery market in Hong Kong? Justify your answer.
Discuss the advantages and disadvantages of Lai’s strategy of selling a very limited number of popular products. What do you think of his idea of selling computers?
Why is the new e-business able to sell products at much lower prices than the larger chains can? Do you believe the large businesses will drop their prices on the products Lai sells? Why or why not?
Identify another new Internet business that is competing with much larger traditional businesses. What is the business doing to encourage customers to switch from the larger business to the new e-business?
Use the Internet to research AdMart in Hong Kong. Report on the status of the AdMart venture. Identify what went right and what went wrong. Explain how this example could help other e-commerce entrepreneurs.
Many people do not trust businesses that sell products online, especially if they are not familiar with the company’s name. Yet they will walk into a new business in their city and shop with little concern. What causes the difference in people’s views of online businesses versus traditional
Do you agree with Dontae that it is easier to shop in an actual store in a mall than from the same business online? Why or why not?
What is your opinion of Jillian’s comparison between entering a credit card number online and handing the card to a clerk who checks it using a telephone line from the store to the credit card company?
What do you think of Toni’s idea of downloading music for free?Do you think this is legal? How can Toni be sure that she is engaging in legal and ethical behavior when she uses the freemusic site?
Why are businesses choosing to sell merchandise online?
Speaking Participate in a debate with other students in your class.Your teacher will provide instructions on how the debate will be organized. Do research to gather information in support of your position. The two positions to be debated are:a. Cities and states should encourage economic
Writing Place yourself in the role of your city’s economic development director. Evaluate your city against the criteria that manufacturers consider in locating their facilities. Write a letter that you would use to convince a manufacturer to locate in your city.
Research Join a team with several other students in your class. Your teacher may assign you to a specific group and topic. Use the Internet or your library to gather information on one of the following topics: Dr. W. Edwards Deming, the Malcolm Baldrige National Quality Award, the ISO, Total
Math The Neveau Corporation spent $8,937,250 on research last year. It spent 30 percent on consumer research, 25 percent on pure research, and the remainder on applied research. The company’s annual sales for the last year were $297,550,000.a. What percentage of sales did the company spend on
Describe the economic and legal factors that might affect the location of a manufacturing business.
Explain why companies would compete for the Malcolm Baldrige Award.
Describe the circumstances in which a company might decide to go ahead with the production of a new product rather than spend time developing and testing a model.
Describe the methods used by product developers to collect data for research. Explain how technology can be used in research.
Explain why a company would use both consumer research and product research when developing new product ideas.
The manufacturing process that produces a large number of identical products and usually involves an assembly line where employees at workstations continuously perform the same task to assemble the product is calleda. custom manufacturingb. intermittent processingc. mass productiond. repetitive
The International Organization for Standardization (ISO) was organized toa. deal with global standardization issuesb. develop agreements on production designs and compatibilityc. establish standards to ensure quality and reliabilityd. all of the above
The major transportation methods includea. rail, truck, and waterb. air, rail, truck, and waterc. air, rail, truck, water, and freightd. air, rail, truck, water, and pipeline
To encourage American companies to improve quality, Congress in 1987 created thea. American National Quality Awardb. ISO National Awardc. Malcolm Baldrige National Quality Awardd. Total Quality Management Award
Buildings, bridges, and computer programs are all examples ofa. custom manufacturingb. intermittent processingc. mass productiond. repetitive production
Companies use this process do the same thing over and over to produce a product.a. customer manufacturingb. intermittent processingc. mass productiond. repetitive production
Human resource planning determines all of the following excepta. the types of jobs required for each part of productionb. the number of people needed for each jobc. the salaries of each workerd. the skills each person will need in order to do the job
Process used to design and build a unique product to meet the specific needs of the purchaser
Research done without a specific product in mind
Manufacturing process that uses short production runs to make predetermined quantities of different products
Identifying the steps required in a manufacturing process, the time required to complete each step, and the sequence of the steps
Assuring product quality by developing standards and measuring results against those standards
Process in which all manufacturing systems are designed and managed using computers
Form of production in which raw and semifinished materials are processed, assembled, or converted into finished products
Group of people who offer opinions about a product or service
Computer application engineers use to design and test products before they are built
Planning the quantities of materials, supplies, and finished products required to meet customer orders
Research that studies existing product problems or possible design improvements for current products
Process of creating or improving a product or service
Technology Use a computer spreadsheet program and the following information on unpaid purchases to prepare a credit report dated November 30 on the accounts receivable for a business that offers 30-day credit terms. The report should contain an aging of accounts receivable, similar to the one shown
Research Find an Internet site that provides quotes for life insurance.Determine what a $100,000 term life insurance policy would cost for a male, 45 years of age. Then determine the cost for the same amount of insurance for a female of the same age. Report the costs of insurance from three
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