Business 6th Edition O. C. Ferrell, Geoffrey Hirt, Linda Ferrell - Solutions

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Here are some questions to answer for your project communications.What is the level of your awareness of being able to differentiate between Think through the communication process you use today. How often do How much project time is spent on determining status? How much is Do you have any standard
In your project defined earlier, identify the methods and tools you would like to use. Compare this to what your organization employs. What advantages are offered by those you would like to use? What are the limitations of the company’s unselected methods and tools?
Estimate the cost and time to implement a new set of tools. Write down answers to the following questions:How many PCs will have to be upgraded for the new tools?Will the network have to be upgraded?How many people will have to be trained in the new methods and tools?
Define what tools you would like to have to use with the software your firm already owns. Again, you can use a table. In the first column, list the tool areas. In the second column, give the proposed tool. The third column is for the current tool. The fourth column can contain the benefits of
Evaluate your current methods and tools. Begin with the list given earlier in this chapter. In the first column, write each area of E-Business management. Write down the method used in each area in the second column.Write down the tool used in the third column. Next, make a list of issues and
Here are some questions to ask about your methods and tools.Do you have a standard list of methods and tools for project management in your organization?How has the list of methods and tools changed over the past few years?Is there a formal method for updating and replacing specific methods and
Return to your plan and insert the resource-related tasks that were identified earlier in this chapter
Using the information from the list in Question 2, develop a GANTT chart in which the tasks are resources arranged or sorted by type. The schedule is the time that the resource is needed. This GANTT chart is a useful tool to help you plan resource transitions.
For the project you developed in the first chapters, make a more complete list of people, equipment, and facilities that you require on the project. For each category of resource, identify the manager or vendor who can provide the resource. Identify alternatives to be used if the selected resource
Answer the following questions about resources.How long do people stay on projects in your organization?Are efforts made to release resources as soon as possible?Do your projects have resource strategies?Are efforts made to get management to commit resources too early? Are many resource changes
Sit down with the current schedule and task plan. Compare it with the first approved version of the plan. What are the major differences? How many differences can be attributed to changes generated by team members?
If you are currently involved in E-Business, take this opportunity to assess the project team in the following areas: Do some members of the team have too much to do while others are not busy? This is a sign that the team was not thought through or adjusted for workload. Have you had many part-time
For the project you defined in earlier chapters (or a project selected as an example), identify the team members and their duties. Separate these into core team members and part-time members. Assign responsibility for the detailed tasks of your schedule. What skill areas are you missing? Where do
Answer the following questions about teams. Does your organization provide any rules, guidelines, or suggestions on roles and duties of team members on projects? What is the mix of full-time and part-time team members on projects? Is an effort made to keep the size of the core team small? Are
Evaluate yourself in terms of the following: How much exposure do you give team members in reporting to manage- ment? How much time do you spend individually with team members vs. group meetings? Spend more time individually. Do you involve team members in addressing issues? Or, do you present the
Assess the state of the project management process in your organization. Are standardized templates and procedures in use? Are projects with dif- ferent levels of risk managed differently? Or are differences based on size, cost, or duration?
Using stories of success in the magazines, define attributes of successful E-Business leaders. How did they become leaders? Where did they learn about E-Business?
Address the following questions.Does your organization have a standard approach for becoming a leader or remaining as a leader?How are project managers evaluated in your organization? Do the criteria involve motivation of staff, addressing issues, and dealing with crises?
Do you communicate what is going on in the project with your line manager?
Have you had any problems getting along with the leaders?
Do you need more training? Do you volunteer to do additional work?
Are you using the methods and tools correctly and effectively?
Is the balance good or does it need adjustment?
How much time are you devoting to the E-Business work vs. other work?
Are you unsure about how to proceed with any of the assigned issues?
Have you taken care of issues assigned to you for analysis and resolution?
Do you have an adequate picture of the overall project status?
How much time are you spending in administration vs. management? Is the balance good or does it need adjustment?
How aware are you of what other firms are doing in E-Business?
Take the template you have just created and add more detailed tasks for the work to be done in the next month. Define the duration of all detailed tasks.Determine the starting dates for all detailed tasks that do not have predecessor tasks. You have now created a schedule. Flesh out the tasks one
For a simple E-Business effort, develop a template using the following steps:Identify 10 to 15 highest level summary tasks.Identify the same number of major milestones. Put these into a task list.You now have a very high-level work breakdown structure.Identify dependencies between all tasks and
Look over several projects and attempt to define the objectives, scope, and strategies for the projects. Create a table in which the rows are the projects and the columns are objectives, scope, and strategies.
Here are some basic questions to ask about your organization relative to general project management.Does your firm follow an established sequence of actions in developing project plans? If so, are these clearly distributed and supported by training?How are small projects handled differently from
Assuming that your organization has multiple simultaneous projects, how does the organization cope with multiple project management? More specifically:Is there an overall project summary?How are resources shared and managed among projects?How are issues that cross multiple projects identified and
Projects and project management have been discussed. A first suggestion is that you assess the projects around you by reviewing the following statements. Answer each on a scale of 1 to 5, in which 1 means that you strongly disagree with the statement, 2 means that you disagree with the statement, 3
Here are some basic questions to answer that relate to the culture of projects and project management.Does the project you are working on have a clear objective and scope?Have these changed since the project was started?Is there an established process in your organization for setting up and running
3. Why do you think the European Union has begun to target multinationals it believes are using strategies to pay lower tax rates? Taxes are an important part of corporate finance that affect such wide-scale corporate decisions as profit and risk management.In the United States, tax rates are the
2. Do you believe that moving corporate headquarters to countries with lower tax rates is ethical? Taxes are an important part of corporate finance that affect such wide-scale corporate decisions as profit and risk management.In the United States, tax rates are the highest of developed countries at
1. Why do you think tax rates are important to a firm’s financial decision making? Taxes are an important part of corporate finance that affect such wide-scale corporate decisions as profit and risk management.In the United States, tax rates are the highest of developed countries at 25 to 40
3. Do you believe that an emphasis on human capital and a long-term investment approach is the best approach for Cue Ball to take from a financial perspective? Boston-based Cue Ball Group is not your typical venture capital firm. Cue Ball invests in startups that prioritize human capital over fast
2. Why do you think Cue Ball wants to invest in firms with similar values to its own? Boston-based Cue Ball Group is not your typical venture capital firm. Cue Ball invests in startups that prioritize human capital over fast financial growth. Founded in 2005 by entrepreneurs Richard Harrington,
1. How has Cue Ball carved a niche for itself in the venture capital industry? Boston-based Cue Ball Group is not your typical venture capital firm. Cue Ball invests in startups that prioritize human capital over fast financial growth. Founded in 2005 by entrepreneurs Richard Harrington, Mats
3. Do you feel that a mentorship program will help close the gap? Although many of the students who major in accounting and finance are women, they occupy less than 12 percent of CFO positions—despite making up 17 to 23 percent of all employees. This discrepancy is a concern to companies that are
2. Describe some ways that companies are trying to promote management positions to female finance employees. Although many of the students who major in accounting and finance are women, they occupy less than 12 percent of CFO positions—despite making up 17 to 23 percent of all employees. This
1. Why do you think there are so few female CFOs? Although many of the students who major in accounting and finance are women, they occupy less than 12 percent of CFO positions—despite making up 17 to 23 percent of all employees. This discrepancy is a concern to companies that are trying to
3. Why do you think Greenleaf Trust is committed to its employees? How might this affect the quality of financial services it offers? When Michigan-based Greenleaf Trust was founded in 1998, it wanted to become well known for how it treats both clients and employees. Greenleaf Trust offers wealth
2. Why is it important that the Federal Reserve and the Federal Deposit Insurance Corporation regulate financial institutions like Greenleaf Trust? When Michigan-based Greenleaf Trust was founded in 1998, it wanted to become well known for how it treats both clients and employees. Greenleaf Trust
1. Describe the financial services Greenleaf Trust offers to its clients. When Michigan-based Greenleaf Trust was founded in 1998, it wanted to become well known for how it treats both clients and employees. Greenleaf Trust offers wealth management, estate administration, and the administration of
3. Do you believe that cybersecurity risk management plans will help increase protection against cybercrime? Why or why not? When cybercriminals hacked financial giant JPMorgan Chase and stole information from 76 million households, the vulnerabilities of financial institutions to cybercrime became
2. Do you think wide-sweeping cyberstandards for banks are the best solution, or should banks be able to adopt standards based on their own unique risks? When cybercriminals hacked financial giant JPMorgan Chase and stole information from 76 million households, the vulnerabilities of financial
1. Why is cybersecurity becoming such a major issue for financial institutions? When cybercriminals hacked financial giant JPMorgan Chase and stole information from 76 million households, the vulnerabilities of financial institutions to cybercrime became all too clear. Hacking into a major
3. Given a choice, would you rather deal with a bank or a credit union? Is it time to ditch the bank for the credit union? Credit unions have several advantages over banks. Because they are nonprofit institutions, and therefore do not have to pay shares or executive salaries, the money that credit
2. What are the disadvantages of credit unions over banks? Is it time to ditch the bank for the credit union? Credit unions have several advantages over banks. Because they are nonprofit institutions, and therefore do not have to pay shares or executive salaries, the money that credit unions earn
1. What are the advantages of credit unions over banks? Is it time to ditch the bank for the credit union? Credit unions have several advantages over banks. Because they are nonprofit institutions, and therefore do not have to pay shares or executive salaries, the money that credit unions earn goes
LO 15-1 Define money, its functions, and its characteristics.
3. What might be some advantages to reporting and monitoring environmental costs? ExxonMobil seems like an unlikely corporation to take a large step toward increasing environmental reporting. However, the energy giant has started disclosing the value of its “stranded assets.” These assets,
2. Why do you think more than half of the firms listed on the 31 largest stock exchanges report environmental data? ExxonMobil seems like an unlikely corporation to take a large step toward increasing environmental reporting. However, the energy giant has started disclosing the value of its
1. Should companies include environmental costs, or “stranded assets,” into their accounting statements? ExxonMobil seems like an unlikely corporation to take a large step toward increasing environmental reporting. However, the energy giant has started disclosing the value of its “stranded
3. How might higher priced chicken wings impact the company’s profitability? Buffalo Wild Wings was founded in 1982 by James Disbrow and Scott Lowery after the two were unable to find a nearby restaurant that sold the buffalo wings they desired.After a few years in business, the founders got in
2. Why did Buffalo Wild Wings need someone with a strong accounting background to turn the company around? Buffalo Wild Wings was founded in 1982 by James Disbrow and Scott Lowery after the two were unable to find a nearby restaurant that sold the buffalo wings they desired.After a few years in
1. Why did Buffalo Wild Wings get in trouble with the IRS, and what does this say about the importance of accounting? Buffalo Wild Wings was founded in 1982 by James Disbrow and Scott Lowery after the two were unable to find a nearby restaurant that sold the buffalo wings they desired.After a few
3. As a manager, how would you try to detect fraud?
2. What is the best way to prevent fraud?
1. Why do you think fraud is a significant financial issue in most businesses?
LO 14-3 Examine the various components of an income statement in order to evaluate a firm’s “bottom line.”
LO 14-1 Define accounting and describe the different uses of accounting information.
3. Do you agree with General Electric’s decision to spend 40 percent of its marketing budget on digital marketing? General Electric (GE) is an expert at digital media. The firm uses social media channels to display branded content, a type of promotion that blends advertising with entertainment.
2. Why do you think it is important for GE to engage with end consumers if it sells more to businesses? General Electric (GE) is an expert at digital media. The firm uses social media channels to display branded content, a type of promotion that blends advertising with entertainment. For instance,
1. How does GE use specific digital media tools to reach consumers? General Electric (GE) is an expert at digital media. The firm uses social media channels to display branded content, a type of promotion that blends advertising with entertainment. For instance, it developed the “GE Show” on
3. How has digital technology helped Domino’s appeal to customers over its competitors? If you want to order a pizza from Domino’s, try tweeting a pizza emoji. Domino’s Any-Ware campaign allows you to text, tweet, tap, or speak your orders using digital technology.To order pizza digitally,
2. Why might it be important for Domino’s to invest in several different technologies rather than just one or two? If you want to order a pizza from Domino’s, try tweeting a pizza emoji. Domino’s Any-Ware campaign allows you to text, tweet, tap, or speak your orders using digital
1. Why do you think Domino’s is so willing to invest in emerging digital technologies? If you want to order a pizza from Domino’s, try tweeting a pizza emoji. Domino’s Any-Ware campaign allows you to text, tweet, tap, or speak your orders using digital technology.To order pizza digitally,
3. Why would women pay $10 a month to receive small samples of makeup? After Michelle Phan was rejected for a job with Lancôme Cosmetics, she used YouTube to display her passion for makeup.Within three years of posting videos, she had 690,000 followers. She became such a sensation that Lancôme,
2. Describe ipsy’s marketing mix. After Michelle Phan was rejected for a job with Lancôme Cosmetics, she used YouTube to display her passion for makeup.Within three years of posting videos, she had 690,000 followers. She became such a sensation that Lancôme, which had previously rejected her
1. How did Michelle Phan use digital media to create her firm? After Michelle Phan was rejected for a job with Lancôme Cosmetics, she used YouTube to display her passion for makeup.Within three years of posting videos, she had 690,000 followers. She became such a sensation that Lancôme, which had
LO 13-5 Understand online monitoring and analytics for social media.
3. Do you think Patagonia’s “Buy Less” marketing campaign will help or harm company sales in the long run? One of apparel store Patagonia’s most popular promotions features its popular R2 coat with the headline “Don’t Buy This Jacket.” The advertisement explains that although the R2
2. How does Patagonia use marketing to reinforce its mission? One of apparel store Patagonia’s most popular promotions features its popular R2 coat with the headline “Don’t Buy This Jacket.” The advertisement explains that although the R2 uses recycled materials, it is still harmful to the
1. Describe the different ways Patagonia engages in promotional activities. One of apparel store Patagonia’s most popular promotions features its popular R2 coat with the headline “Don’t Buy This Jacket.” The advertisement explains that although the R2 uses recycled materials, it is still
3. How is the marketing strategy of Dollar Shave Club different from retail competitors like Gillette? The idea for Dollar Shave Club (DSC) emerged from a conversation entrepreneur Michael Dubin was having with his co-founder about the annoyances of shaving. They found it inconvenient and costly to
2. Describe how Dollar Shave Club was able to create such a successful marketing campaign at a low cost. The idea for Dollar Shave Club (DSC) emerged from a conversation entrepreneur Michael Dubin was having with his co-founder about the annoyances of shaving. They found it inconvenient and costly
1. How has focusing on the customer contributed to Dollar Shave Club’s rapid growth? The idea for Dollar Shave Club (DSC) emerged from a conversation entrepreneur Michael Dubin was having with his co-founder about the annoyances of shaving. They found it inconvenient and costly to have to
3. How has Netflix’s distribution strategy changed from its early days? When Netflix was launched in 1997, few people could envision it would one day topple the current market leader, Blockbuster.Netflix used the U.S. Postal Service to mail DVDs straight to the home, saving consumers a trip to
2. What types of adaptations do you think Netflix will have to make to its marketing strategy as it enters different countries? When Netflix was launched in 1997, few people could envision it would one day topple the current market leader, Blockbuster.Netflix used the U.S. Postal Service to mail
1. Discuss ways that Netflix has used product, pricing, and distribution to create a competitive advantage over rivals. When Netflix was launched in 1997, few people could envision it would one day topple the current market leader, Blockbuster.Netflix used the U.S. Postal Service to mail DVDs
LO 12-1 Describe the role of product in the marketing mix, including how products are developed, classified, and identified.
3. How does Sports Clips attract its target market? In the early 1990s, Gordon Logan conducted market research in the hair care industry that revealed barber shops were a dying business. The only other option was for men to go to salons, which are normally geared toward women. He decided he wanted
2. What type of customer is likely to be attracted to Sports Clips? In the early 1990s, Gordon Logan conducted market research in the hair care industry that revealed barber shops were a dying business. The only other option was for men to go to salons, which are normally geared toward women. He
1. How did market research help Gordon Logan conceive of Sports Clips? In the early 1990s, Gordon Logan conducted market research in the hair care industry that revealed barber shops were a dying business. The only other option was for men to go to salons, which are normally geared toward women. He
3. Why do you think Protein Bar is developing an entirely new restaurant concept that will have a wider menu selection? At 22, entrepreneur Matt Matros decided to drastically change his life. He lost 50 pounds through a strong regimen of exercise and a high-protein diet. Afterward, he decided to
2. What behavioral and lifestyle characteristics are Protein Bar’s target markets likely to have? At 22, entrepreneur Matt Matros decided to drastically change his life. He lost 50 pounds through a strong regimen of exercise and a high-protein diet. Afterward, he decided to start the
1. Describe how Protein Bar uses the marketing mix to target customers. At 22, entrepreneur Matt Matros decided to drastically change his life. He lost 50 pounds through a strong regimen of exercise and a high-protein diet. Afterward, he decided to start the Chicago-based restaurant Protein Bar.To
3. How could companies use marketing research to determine better ways to market to baby boomers? In their haste to market to younger consumers, marketers are overlooking a profitable segment of the population: baby boomers.Baby boomers are consumers born between 1946 and 1964. Although half of
2. What types of products do you think would especially benefit from marketing strategies aimed at baby boomers? In their haste to market to younger consumers, marketers are overlooking a profitable segment of the population: baby boomers.Baby boomers are consumers born between 1946 and 1964.
1. Why do you think marketers are having a hard time targeting the baby boomer generation? In their haste to market to younger consumers, marketers are overlooking a profitable segment of the population: baby boomers.Baby boomers are consumers born between 1946 and 1964. Although half of consumer
3. What do you believe will have the greater long-term impact on customer satisfaction:higher wages for employees or greater training for employees? Provide reasoning for your answer. Walmart was in trouble. Due to its low pay and scheduling practices, it had become the employer of last resort for
2. Why do you think Walmart’s investment in employees is having such a positive impact on customer satisfaction? Walmart was in trouble. Due to its low pay and scheduling practices, it had become the employer of last resort for many employees. Customers were unhappy with the resulting sub-par
1. Walmart’s investment in employees is negatively affecting profit in the short term.However, do you think these changes will have a long-term beneficial impact? Why or why not? Walmart was in trouble. Due to its low pay and scheduling practices, it had become the employer of last resort for
3. Describe some ways that companies are using nontraditional ways of evaluating applicants Traditionally, recruiters have used résumés to gauge applicants’ fit for a job.However, some organizations are realizing that judging applicants’ suitability for jobs based on résumés—and
2. What are some potential problems of using traditional résumés in the hiring process? Traditionally, recruiters have used résumés to gauge applicants’ fit for a job.However, some organizations are realizing that judging applicants’ suitability for jobs based on résumés—and immediately

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Business 6th Edition O. C. Ferrell, Geoffrey Hirt, Linda Ferrell - Solutions

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