Understanding Business 1st Edition William G. Nickels, Susan M. Mchugh, James M. Mchugh - Solutions

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What does NASDAQ stand for? How does this exchange work?
What is the primary purpose of a securities exchange?
Does the entertainment industry seem like a stable option for aspiring entrepreneurs to pursue?
Why is the writing profession especially risky for entrepreneurs like Tom Lennon?
What are the risks and benefits of becoming an entrepreneur as opposed to working for others?
Do a Google search for “business blogs” and check out some of the available results. Go to one of the blogs that seems interesting to you and write a brief paragraph about it—including such things as who sponsors it, who contributes the posts, and what other features it has—and how it may
Go to the Census Bureau’s website (www.census.gov) and learn what the population of the United States is at this moment. While at the site, you may want to look up the population in your town or city. Explore what other data are available at this site. What trends seem most important to you and
Go to the National Taxpayers Union website (www.ntu.org). Search for “Who Pays Income Taxes? See Who Pays What.” Study the tables showing what percentage of taxes the various income groups pay. Do you think that businesspeople pay their fair share? What percentage of taxes does the top 1
Form into teams of four or five and discuss the technological and e-commerce revolutions. How many students now shop for goods and services online? What have been their experiences? What other high-tech equipment do they use (smartphones, tablets, laptops, etc.)?
Use Yelp to find five businesses that provide services in your area. List those businesses and, for each, describe how social trends might affect them in both positive and negative ways. Be prepared to explain your descriptions to your team or the whole class, as your instructor directs.
What indicates that you and other people in the United States have a high standard of living? What are some signs that maintaining such a high standard of living may have a negative impact on quality of life? Does everyone in the United States enjoy a high standard of living? If not, how does this
Imagine you are a local businessperson who has to deal with the issue of outsourcing.You want to begin with the facts. How many, if any, jobs have been lost to outsourcing in your area? Are there any foreign firms in your area that are creating jobs (insourcing)? You will need to go online to find
Poll the class and determine which students believe that climate change is primarily caused by humans and which believe that other factors, such as climate cycles or sun spots, are the primary cause. Discuss what students can do to minimize human effects on the environment regardless of the primary
Which of the environmental factors outlined in this chapter might have the biggest impact on your business? How?
Do you see any conflict between your desire to be as profitable as possible and your desire to pay employees a living wage?
How will you establish good relationships with your suppliers? With your employees?
What are some of the things you can do to benefit your community other than providing jobs and tax revenue?
Who will be the various stakeholders of your business?
What does the future look like for tomorrow’s college graduates?
What major factor caused people to move from farming to manufacturing and from manufacturing to the service sector?
What are some of the major issues affecting the economy today?
What is empowerment?
What’s the difference between effectiveness, efficiency, and productivity?
What are four ways the government can foster entrepreneurship?
What are the five factors of production? Which ones seem to be the most important for creating wealth?
What benefits do you lose by being an entrepreneur, and what do you gain?
What are some of the advantages of working for others?
What do the terms stakeholders, outsourcing, and insourcing mean?
What is risk, and how is it related to profit?
What is the difference between standard of living and quality of life?
What is the difference between revenue and profit?
1 Explain the concept of marketing channels and their value.
4 Compare the distribution strategies retallers use.
5 Explain the various kinds of nonstore retailing.
3. One scarce item in the future will be water. If you could think of an inex- pensive way to get water from places of abundance to places where it is needed for drinking, farming, and other uses, you could become a wealthy marketing intermediary. Pipelines are an alternative, but could you also
3. Compare the merits of buying and selling goods in stores and over the Internet. What advantages do stores have? Has anyone in the class tried to sell anything on the Internet? How did he or she ship the product?
1. How long do the websites say that it takes to get started?
2. Does the process seem easier or harder than you imagined?
3. Do you have questions that the websites did not answer?
4. What help are you given, if any, in planning how to ship your goods?
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3 Illustrate the steps of the B2B and B2C selling processes.
6 Show how word of mouth, e-mail marketing, viral marketing, blogging, podcasting, and mobile marketing work.
2. How often do you buy online? If you don't actually buy, do you use the Internet to compare goods and prices? Do you or your friends take advan- tage of low prices on used goods at eBay or other online sites like Craig's List? Do you look at ads on the Internet? Do they seem to be effective? Do
4. How have blogging, podcasting, and social media affected other media you use, like news sites, newspapers, or television? Do you think blogging is an influential word-of-mouth promotional tool? Do you read newspa- pers now or do you get your news some other way?
1. Using at least two different media-a newspaper, magazine, television, radio, the Internet-choose two ads you consider effective and two you find ineffective. Be prepared to rationalize your choices.
2. Scan your local newspaper for examples of publicity (stories about new products) and sales promotion (coupons, contests, sweepstakes). Share your examples and discuss the effectiveness of such promotional efforts with the class.
3. Many students shy away from careers in selling, often because they think Prepare a one-page document about your experience with salespeople and they are not outgoing enough or that salespeople are dishonest or pushy. what you think of selling as a career.
4. In small groups, discuss whether you are purchasing more goods using Internet before buying goods and services? How helpful are such searches? catalogs and/or the Internet and why. Do you look up information on the Present your findings to the class.
5.In small groups or individually, list six goods and services most students wwn or use and discuss promotional techniques that prompt you to buy shem: advertising, personal selling, social media, publicity, sales promo- lon, or word of mouth. Which seems most effective for your group? Why?
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1 Demonstrate the role that accounting and financial information play for a business and for its stakeholders.
4 Explain how the major financial statements differ.
1. As a potential investor in a firm or perhaps the buyer of a particular busi- ness, would it be advisable to evaluate the company's financial statements? Why or why not? What key information would you seek from a firm's financial statements?
5. Obtain a recent annual report for a company of your choice (see the hints just above in exercise 4) and try your hand at computing financial ratios. Compute the current ratio, debt to owners' equity ratio, and basic earnings per share ratio. Then request an annual report from one of the firm's
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3 Explain why firms need operating funds.
4 Identify and describe different Identify and describe different sources of short-term financing.
5 Identity and describe different sources of long-term financing.
1. What are the primary sources of short-term funds for new business own- ers? What are their sources of long-term funds?
2. One of the most difficult concepts to get across to small-business owners is the need to take all the trade credit they can get. For example, the credit terms 2/10, net 30 can save businesses money if they pay their bills in the first 10 days. Work with a group of classmates to build a
5. Factoring accounts receivable is a form of financing used since the days of Babylonian King Hammurabi 4,000 years ago. Today it's still a source of short-term funds used by smallbusinesses. Visit www.21stfinancialsolutions. com to get more in-depth information about factoring and be prepared to
3. Bells'n'Whistles is a pinball refurbishing company. Its founding partners need funding to buy inventory. Do they meet SBA criteria? Why or why not?
4. Lettuce Entertain You is a company needing funding to remodel an old warehouse to house its latest restaurant. Does it meet SBA criteria? Why or why not?
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1 markets and of investment Describe the role of securities markets and of investment bankers.
2 Identify the stock exchanges where securities are traded.
4 Compare the advantages and dis disadvantages of obtaining debt financing by issuing bonds, and identify the classes and features of bonds.
1. Imagine you inherited $50,000 and you want to invest it to meet two finan- cial goals: (a) to save for your wedding, which you plan to have in two years, and (b) to save for your retirement a few decades from now. How would you invest the money? Explain your answer.
5. Consider the companies added and subtracted from the Dow Jones Industrial Average over the past five years. (Go to www.djaverages.com to learn more about these companies.) What types of companies were added and deleted? Why do you think the changes were made? Do you think new changes will be
3. U.S. government bonds compete with corporations for investors' dollars. Check out the different types of bonds the federal government offers and list the types most appealing to you. Be sure to check out TIPS.
4. See whether anyone in class is interested in forming an investment group. If so, each member should choose one stock and one mutual fund or ETF. Record each student's selections and the corresponding prices. In two weeks measure the percentage of change in the investments and discuss the results.
5. Go to the websites of Charles Schwab (www.schwab.com), E*Trade (www. etrade.com), or Ameritrade (www.ameritrade.com) and find two IPOS offered in the past year or so. Track the performance of each from its intro- duction to its present market price. Report your observations.
1. What are the pros and cons of investing in ETFs?
2. What are the five most actively traded ETFs?
3. Which ETFs grew the most in the last three years?
4. In which industry sectors or countries do these high-growth ETFs specialize?
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1 Explain what money is and what makes money useful.
4 Classify the various institutions 4 in the U.S. banking system.
5 banklare terug in the banking crisis starting in 2008 and explain how the govern- ment protects your funds during such crises.
1. If you were Ben Bernanke, chairman of the Federal Reserve, what eco- nomic figures might you use to determine how well you were doing? What role did Bernanke play in the recent banking crisis?
3. If the value of the dollar declines relative to the euro, what will happen to the price of French wine sold in U.S. stores? Will people in France be more or less likely to buy a U.S.-made car? Why or why not?
4. Do you keep your savings in a bank, an S&L, a credit union, or some com- bination? Ilave you compared the benefits you could receive from each? Where would you expect to find the best loan values?
1. In a small group, discuss the following: What services do you use from banks and S&Ls? Does anyone use online banking? What seem to be its pluses and minuses? Use this opportunity to compare the rates and ser- vices of various local banks and S&Ls.
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8 Distinguish among the various 8types of bankruptcy as outlined by the Bankruptcy Code.
4. Twenty-two states have implemented utility deregulation. Has your state or a neighboring state implemented utility deregulation? How does it seem to be working?
2. Increasing numbers of individuals file for bankruptcy each year. Do you think the U.S. Congress was correct in toughening the bankruptcy laws?
3. Pick a side: Should government action to deal with deceptive business practices increase, or should we count on business to regulate itself to pre- vent deceptive practices? Which solution is better for society and business in the long run?
4. Does your state have an income tax? What percentage of your income do you have to pay in state income tax? What about property taxes and sales taxes? How do these taxes in your area compare to those in three other states and communities of your choice?
5. In 2005, Congress passed bankruptcy reform legislation that makes it more difficult for individuals to file for bankruptcy under Chapter 7 and limits certain debts that cannot now be eliminated. Research the law and offer reasons why you support or oppose it. You might want to go to www.
2. When can you use the trademark symbols and?
3. How can you secure a copyright for your songs?

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Understanding Business 1st Edition William G. Nickels, Susan M. Mchugh, James M. Mchugh - Solutions

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