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business
understanding business ethics
Understanding Business 13th Edition William Nickels, Jim McHugh, Susan McHugh - Solutions
What are “Bitcoins,” and can you buy things online with them?
What are the five standards for a useful form of money?
What is money?
What is money?
Evaluate the role and importance of international banking, the World Bank, and the International Monetary Fund.
Describe how technology helps make banking more efficient.
Briefly trace the causes of the banking crisis of 2008, and explain how the government protects your funds during such crises.
Classify the various institutions in the U.S.banking system.
Trace the history of banking and the Federal Reserve System.
Describe how the Federal Reserve controls the money supply.
Explain what money is and what makes money useful.
LO 9-5 Explain the use of PERT and Gantt charts to control manufacturing processes
LO 9-4 Describe operations management planning issues including facility location, facility layout, materials requirement planning, purchasing, justin-time inventory control, and quality control.
LO 9-3 Identify various production processes, and describe techniques that improve productivity, including computer-aided design and manufacturing, flexible manufacturing, lean manufacturing, mass customization, robotics, and 3D printing.
LO 9-2 Describe the evolution from production to operations management.
LO 9-1 Describe the current state of U.S. manufacturing and what manufacturers have done to become more competitive.
1. 3. Why do you think team leaders at Zappos are required to spend 20 percent of their time with their teams outside the work environment
1. 2. How does the employee satisfaction and empowerment at Zappos help support the primary goals of the company?
1. 1. What does the vision statement for a company like Zappos include?
1. 3. Analyze Toys “R” Us’s opportunities and threats. What additional opportunities can you suggest? What additional threats can you identify?
1. 2. Analyze Toys “R” Us’s weaknesses. How do you think the company’s strengths might be used to overcome some of its weaknesses?
1. 1. What are Toys “R” Us’s strengths, weaknesses, opportunities, and threats?
1. 4. Can someone who’s trained to give orders (like a military sergeant) be retrained to be a participative leader? How? What problems may emerge?
1. 3. Do you see any problems with a participative (democratic) leadership style? Can you see a manager getting frustrated when he or she can’t control others?
1. 2. What kind of leader would you be? Do you have evidence to support your choice?
1. 1. Would you like to work for a large firm or a small business? Private or public company?In an office or out in the field? Give your reasons for each answer.
1. What’s the difference between internal and external customers?
1. What are the five steps in the control process?
1. How does enabling help achieve empowerment?
1. What are the six Ds of decision making?
1. What are the differences among strategic, tactical, and operational planning?
1. What does a company analyze when it does a SWOT analysis?
1. What’s the difference between goals and objectives?
1. What are the four functions of management?
1. What’s the definition of management used in this chapter?
1. What are some of the changes happening in management today?
Discuss with a group in your class the risks of a terrorist attack, a natural disaster, climate change, or major health disaster. Which risk do you perceive as most likely? Most dangerous? Discuss what you could do to warn others of such risks and motivate them to do something about them.
Form small groups and discuss liability insurance, automobile insurance, health insurance, renter’s insurance, life insurance, and disability insurance. Develop a list of questions to discuss openly in class so that everyone can contribute their thoughts about these issues. Do your fellow
Much of risk management consists of reducing risky behavior. What kinds of risky behavior have you observed among fellow college students? How can college students learn about and minimize these risks? Are they doing so? Discuss the merits of having a risk manager for education facilities.
You cannot insure yourself against speculative risk. However, you can minimize the risks you take when investing. Compare and contrast the risks of investing in stocks versus investing in bonds for the long term (refer to Chapter 19 for help).
List the ways you could reduce risk in your life (such as not driving above the speed limit). Form small groups and share what you and others have written. Which of your classmates’ suggestions can you adopt in your life?
What is renter’s insurance?
What is covered by a standard homeowner’s policy?
What is homeowner’s insurance?
What can you do to lower your personal risk of loss from natural disasters such as floods, hurricanes, and tornadoes?
What actions have you taken to avoid risk?
What risks do you take that insurance cannot cover?
Are you self-insuring your residence and your assets? What have you done to reduce your risk? Have you done anything to avoid risk? How much would it cost to buy insurance for your dwelling and the contents?
Why do companies carry cyber risk insurance?
What are businesses doing to cover the risks of harming the environment?
What is workers’ compensation insurance?
What kind of policies cover health risks?
What are the two kinds of insurance companies?
What’s the difference between insurable and uninsurable risk?
What are the four major ways of managing risk?
What changes have made risk management more important?
How many different kinds of private insurance can you name?
Why should someone buy disability insurance?
What is the rule of indemnity?
What is the law of large numbers?
What are some examples of an uninsurable risk?
What are the four major options for handling risk?
Why are companies more aware now of the need to manage risk?
Discuss the various types of insurance businesses can buy to manage risk.
Define insurance policies, and explain the law of large numbers and the rule of indemnity.
Explain the four ways of managing risk, and distinguish between insurable and uninsurable risk.
Identify the environmental changes that have made risk management important.
1. 3. Why do you think Wilson emphasized the importance of finance and bookkeeping when planning a startup?What problems arise if entrepreneurs don’t keep track of money flowing in and out of the business?
1. 2. What personal characteristics do you believe helped Wilson succeed as an entrepreneur and build JCF Health and Fitness into the growing business it is today?
1. 1. How does the phrase “Find a need and fill it” apply to Daris Wilson and his business?
1. 2. If you have entrepreneurial traits and decide you would like to start your own business, you’ll need to develop a business plan. Go to www.bplans.com/sample_business_plans.cfm and click on Restaurant, Cafe, and Bakery. Review the sample business plan for Internet Café. Although the plan
1. 1. Go to www.bizmove.com/other/quiz.htm and take the interactive entrepreneurial quiz to find out whether you have the qualities to be a successful entrepreneur.
1. 3. Imagine yourself starting a small business. What kind of business would it be? How much competition is there? What could you do to make your business more attractive than those of competitors? Would you be willing to work 60 to 70 hours a week to make the business successful?
1. 2. Are there any similarities between the characteristics demanded of an entrepreneur and those of a professional athlete? Would an athlete be a good prospect for entrepreneurship? Why or why not? Could teamwork be important in an entrepreneurial effort?Why or why not?
1. 1. Do you have the entrepreneurial spirit? What makes you think that?
1. What are some of the advantages small businesses have over large businesses in selling in global markets?
1. Why do many small businesses avoid doing business globally?
1. A business plan is probably the most important document a smallbusiness owner will ever create. There are nine sections in the business plan outline shown in the chapter. Can you describe at least five of those sections now?
1. What does the government do to promote entrepreneurship?
1. How do micropreneurs differ from other entrepreneurs?
1. What are the advantages of entrepreneurial teams?
1. Why are people willing to take the risks of entrepreneurship?
Chapter 11 bankruptcy allows businesses to continue operating under court protection while they try to pay off their debts. Search online and find three companies that came back from Chapter 11 and regained their stature in the market. Explain why they were successful.
Go online to find the answers to the following questions: 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
Divide the class into teams to debate the question: Should government action to deal with deceptive business practices increase, or should we count on business to regulate itself to prevent deceptive practices? Which solution is better for society and business in the long run?
Increasing numbers of individuals and businesses file for bankruptcy each year. Do you think the U.S. Congress was correct in toughening the bankruptcy laws?
Do you think the laws that promote fair and competitive practices are effective in the United States? Why or why not? Provide evidence for your view.
What are the advantages of registering copyrights?
How can you secure a copyright for your songs?
When can you use the trademark symbols ™ and ®?
Do you need to apply for patents, copyrights, or trademarks, or some combination of these to protect your band name and songs?
Has your state or a neighboring state implemented utility deregulation? How does it seem to be working?
Call your local real estate board or visit a realtor and obtain a copy of a real estate contract.Read it carefully to see how it meets the six requirements stated in the chapter for a contract to be legal and binding.
Go to the website of the U.S. Patent and Trademark Office (uspto.gov) and view the information about obtaining a patent. See whether you can estimate how long the process will take and what your cost will be.
1. Supporters of tort reform say it’s unfair that plaintiffs (the parties bringing lawsuits)don’t have to pay damages to the defendants (the parties subject to the lawsuits) if they lose the case. Should plaintiffs pay damages if they lose a case? Why or why not?
What are a few of the most publicized examples of deregulation?
What are the bankruptcy laws?
How does the government use taxes to encourage or discourage certain behavior among taxpayers?
Which act prohibits price discrimination and demands proportional promotional allowances?
Which act regulates false and deceptive advertising?
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