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business
understanding business ethics
Understanding Business The Core 1st Edition William Nickels - Solutions
What are the advantages and disadvantages of sole proprietorships?
What competition already exists in your territory for the product or service you contemplate selling?
Will demand for the product or service you’re considering be greater, about the same, or less five years from now than it is today?
Will the population in the territory given to you increase, remain static, or decrease over the next five years?
Have you made any study to determine whether the product or service that you propose to sell under the franchise has a market in your territory at the prices you’ll have to charge?
Does the industry appeal to you? Are you ready to spend much or all of the remainder of your business life with this franchisor, offering its product or service to the public?
Do you have your family’s support?
Are you prepared to give up some independence of action to secure the advantages offered by the franchise?
Does the franchisor offer financing for a portion of the franchising fees? On what terms?
How much equity capital will you need to purchase the franchise and operate it until your income equals your expenses?
Has the franchisor investigated you carefully enough to assure itself that you can successfully operate one of its franchises at a profit both to itself and to you?
Will the firm help you find a good location for your new business?
Has the franchisor shown you any certified figures indicating exact net profits of one or more going firms that you personally checked yourself with the franchisee? Ask for the company’s disclosure statement.
Does it have a reputation for honesty and fair dealing among the local firms holding its franchise?
How many years has the firm offering you a franchise been in operation?
If the franchisor sells the company, will your investment be protected?
If you sell your franchise, will you be compensated for your goodwill (the value of your business’s reputation and other intangibles)?
Under what circumstances can you terminate the franchise contract and at what cost to you?
Does the franchise give you an exclusive territory for the length of the franchise?
Did your lawyer approve the franchise contract you’re considering after he or she studied it paragraph by paragraph?
Explain the role of cooperatives.
Outline the advantages and disadvantages of franchises, and discuss the opportunities for diversity in franchising and the challenges of global franchising.
Define and give examples of three types of corporate mergers, and explain the role of leveraged buyouts and taking a firm private.
Compare the advantages and disadvantages of corporations, and summarize the differences among C corporations, S corporations, and limited liability companies.
Describe the differences between general and limited partners, and compare the advantages and disadvantages of partnerships.
Compare the advantages and disadvantages of sole proprietorships.
The Energizer Bunny is considered a marketing icon. What does this mean?
Briefly discuss the evolution of marketing at Energizer as described in the video.
Identify the elements that must be considered in the marketing environment.
Does Nike invite comments from visitors to its website? If so, how does this affect its attempt to build positive relationships with its customers?
How do the elements of the website reflect Nike’s target market?
How does Nike’s website help the company strengthen its relationships with its stakeholders? Give examples to support your answer.
What if you’re in the middle of your shoe design and have questions about what to do next? Where can you go for help?
Take a little time to review the concepts in this chapter as they apply to Very Vegetarian, the restaurant we used as an example throughout. Have an open discussion in class about (a) a different name for the restaurant, (b) a location for the restaurant, (c) a promotional program, and (d) a way to
Working in teams of four or five, list as many brand names of pizza as you can, including from pizza shops, restaurants, supermarkets, and so on. Merge your list with the lists from other groups or classmates. Then try to identify the target market for each brand. Do they all seem to be after the
Business has fallen off greatly at your upscale restaurant because of the slow economy. List four things you can do to win back the loyalty of your past customers.
Working in teams of five, think of a product or service your friends want but cannot get on or near campus. You might ask your friends at other schools what’s available there. What kind of product would fill that need? Discuss your results in class and how you might go about marketing that new
Think of an effective marketing mix for a new electric car or a brushless car wash for your neighborhood. Be prepared to discuss your ideas in class.
Which of your needs are not being met by businesses and/or nonprofit organizations in your area? Are there enough people with similar needs to attract an organization that would meet those needs? How would you find out?
What environmental changes are occurring in your community? What was the impact of the recent economic crisis? What environmental changes in marketing are most likely to change your career prospects in the future? How can you learn more about those changes? What might you do to prepare for them?
Industrial companies sell goods such as steel, lumber, computers, engines, parts, and supplies. Name three such companies.
When businesses buy goods and services from other businesses, they usually buy in large volume. Salespeople in the business-to-business market usually are paid on a commission basis; that is, they earn a certain percentage of each sale they make. Why might B2B sales be a more financially rewarding
What are four key factors that make B2B markets different from consumer markets?
What is niche marketing, and how does it differ from one-to-one marketing?
Can you name and describe five ways to segment the consumer market?
Can you define the terms consumer market and business-to-business market?
What factors are included in environmental scanning?
What are the four steps in the marketing research process?
What are the four Ps of the marketing mix?
What are the three parts of the marketing concept?
What does it mean to “help the buyer buy”?
Why is a rigorous performance appraisal program a key part of the Teach for America program?
What types of training do Teach for America recruits undergo before they are placed in the classroom?
What seems to be the primary reason why Teach for America teachers perform better than many other teachers?
Choose one of these positions: a human resource manager notifying employees of mandatory drug testing or an employee representative protesting such testing.Write a memorandum supporting your position.
Consider the following occupations: doctor, computer salesperson, computer software developer, teacher, and assembly worker. Identify the method of compensation you think is appropriate for each. Explain your answer.
Recall any on-the-job and off-the-job training sessions you’ve experienced. Write a brief critique of each. How would you improve them? Share your ideas with the class.
Read several current business periodicals or search online to find information about the latest court rulings on benefits, affirmative action, and other human resource issues. Summarize your findings. Is there a trend in these decisions? If so, what is it, and what will it mean for tomorrow’s
Look for job listings online or in your local newspaper and find at least two positions you might like to have when you graduate. List the qualifications specified in each of the ads and identify methods the companies might use to determine how well applicants meet them.
Imagine you must fire an employee. What effect might the dismissal have on remaining employees? Explain how you would tell the employee and your other subordinates.
If you were a human resource manager, how would you address the brain drain that occurs as knowledgeable workers retire?
What problems can arise when family members work together in the same firm?
What effects have dual-career families had on the human resource function?
Does human resource management interest you as a career? What are your experiences working with human resource professionals?
What are the benefits and challenges of flextime? Telecommuting? Job sharing?
What advantages do compensation plans such as profit sharing offer an organization?
Can you name and describe five alternative compensation techniques?
What are the six steps in a performance appraisal?
What is the primary purpose of a performance appraisal?
Name and describe four training techniques.
Who is considered a contingent worker, and why do companies hire such workers?
What are the six steps in the selection process?
What factors make it difficult to recruit qualified employees?
What are the five steps in human resource planning?
What does accommodations mean in the Americans with Disabilities Act of 1990?
What is the EEOC, and what was the intention of affirmative action?
What did Title VII of the Civil Rights Act of 1964 achieve?
Name and explain two of the reasons the Congressional committee identified for the recent financial crisis.
One of the major problems that led to the financial crisis was the housing bubble. What is meant by the “housing bubble”?
Describe how the Federal Reserve can use its authority to attempt to stimulate the economy.
Develop your own story about the causes of the banking crisis. Talk to others in the class and compare stories. What organizations share the blame for the crisis?
How many search items have appeared covering this issue? What does the number of articles tell you about the importance of this issue?
Do an Internet search to find the latest articles on the global financial crisis.What has happened to banking in the United States and around the world since 2009? What role has the Fed played in trying to end the crisis in the United States?
Write a one-page paper on the role of the World Bank and the International Monetary Fund in providing loans to countries. Is it important for U.S. citizens to lend money to people in other countries through such organizations? Why or why not?Be prepared to debate the value of these organizations in
Form several smaller groups and discuss the recent banking crisis. How has it affected the people in the class? What has happened to banks and the economy in general since the start of the banking crisis? What have been the political implications of recent economic changes?
One role of the Federal Reserve is to help process your checks. In small groups discuss when and where you use checks, credit cards, debit cards, and cash. Do you often write checks for small amounts? Would you stop if you calculated how much it costs to process such checks? Have you switched to
Poll the class to see who uses a bank and who uses a credit union. Have class members compare the services at each (interest rates on savings accounts, services available, loan rates). If anyone uses an online service, see how those rates compare.If no one uses a credit union or online bank,
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 go online to compare the rates and services of various local banks and S&Ls.
Do you keep your savings in a bank, an S&L, a credit union, or some combination?Have you compared the benefits you could receive from each? Where would you expect to find the best loan values?
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?
How much cash do you usually carry with you? What other means do you use to pay for items at the store or on the Internet? What trends do you see in such payments?How might those trends make your purchase experience more satisfactory?
If you were chairperson of the Federal Reserve, what economic figures might you use to determine how well you were doing? What role did Ben Bernanke, the previous head of the Fed, play in the recent banking crisis?
What is the IMF and what does it do?
What is the World Bank and what does it do?
How does a debit card differ from a credit card?
What is the role of the FDIC?
What are some of the causes for the banking crisis that began in 2008?
What is a consumer finance company?
What are the differences among banks, savings and loan associations, and credit unions?
Why did the United States need a Federal Reserve Bank?
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