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Study Resources (Business Management)

1.In order to promote ethical behavior in an organization: a.ethical guidelines should be clearly stated and communicated to employees. b.all of these answer choices are correct. c.the organization may design training programs to help employees developethical reasoning skills. d.the organization’s structure and business practices should reflect and reinforceethical values. e.managers must show a personal commitment.
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1. Economics is the study of: a. the ways in which people behave when they are a part of a group. b. how financial records must be prepared in large organizations. c. the choices people and governments make when allocating scarce resources. d. how political parties operate. 2. Macroeconomics is the study of small economic.
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11. Which of the following statements is true with regard to the rights of employees in mixed market economies? a. Employees are never subjected to unemployment. b. The government influences career decisions for all citizens. c. Workers are allowed to choose labor union membership. d. The government prohibits citizens from working in private enterprises. 12..
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1. ________________Social audits are formal procedures that identify and evaluate all company activities that relate to social issues 2. ________________Quantitative economic measures such as employment levels, sales, and profits are irrelevant in evaluating a firm’s social performance. 3. ________________Conducting a social audit can help a firm measure its progress in meeting social.
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1.In the United States, changes in price levels are tracked by the ________________, which measures the monthly average changes in prices of goods and services. 2.The term used to describe the study of the overall operations of an economy and its various components is known as ________________. 3.________________ refers to the study.
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31. When a firm in the market has no competitors, it is said to have a ________________. 32.In a mixed market economy, ________________ defines the trend of replacing public ownership with private ownership. 33.________________ is the inflation rate of an economy after energy and food prices are removed. 34.________________ is the government’s action.
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Hit & Miss: Chipotle’s Fast-Casual Dining Scores with Customers A little over two decades ago, chef Steve Ells, classically trained in French cooking, became the force behind Chipotle Mexican Grill.  With a loan of $85,000 from his father, and inspiration from authentic Mexican taquerias found in San Francisco’s Mission District, he.
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11. ________________Sexism, or discrimination based solely on a person’s gender, has been completely eliminated in today’s global business environment. 12. ________________Businesses have both a legal and an ethical requirement to eliminate sexual harassment in the workplace. 13. ________________Corporate philanthropy encompasses all efforts corporations take in order to give back to the communities.
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Case 3.3 Secret Acres – Selling Comics is Serious Business Secret Acres is a comic book and graphic novel publisher based in New York.  Acknowledging that Secret Acres faces many economic challenges if it ’s going to hang on and eventually succeed, the two founders observe: “Every decision we make, we.
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1.________________ is the term used to describe a firm’s formal examination of its social responsibility programs. 2. The ________________ is the federal commission created to aid in the elimination of job discrimination while increasing job opportunities for women and minorities. 3.A ________________ is a formal statement that defines how the organization expects.
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8. What are the five major areas in which companies have responsibilities to their employees? What types of changes in society are now affecting these responsibilities? 9. Identify which equal opportunity law (or laws) protects workers in the following categories: a.an employee who must care for an elderly parent b.a National Guard member.
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1. ________________Businesses are responsible for providing information to their consumers regarding any potentially dangerous products. 2. ________________Social audits measure a firm’s performance relating to such issues as employment practices, environmental responsibility, and philanthropy. 3. ________________While managers may conduct internal audits on social responsibility, public opinion rarely has any real impact on business.
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1. ________________Social responsibility refers to management’s consideration of the societal as well as the economic effects of its decisions. 2. ________________Deciding what is right or wrong in business is generally a clear-cut choice. 3. ________________Social responsibility and ethical conduct generally cost more than they create in business value. 4. ________________Codes of conduct and.
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21. _____ is formulated by the Federal Reserve System. a.Monetary policy b.Political policy c.Fiscal policy d.Executive policy 22. A(n) _____ reduces the money supply to curb rising prices, overexpansion, and concerns about overly rapid economic growth. a. restrictive monetary policy b. class action suit c. expansionary monetary policy d. derivative action suit 23. _____ consists of government spending and taxation.
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21. Which federal agency is charged with ensuring universal access to jobs and ending discrimination in the workplace? a. FTC b. EEOC c. EPA d. SEC 22. In the U.S. economy, the social responsibility of a firm is evaluated: a. by consumers who may patronize or avoid a firm based on its behavior. b. on the basis.
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Hit & Miss: Tory Burch Foundation Aids Women’s Businesses Tory Burch is an American icon—fashion designer, businesswoman, and philanthropist. Burch, a working mother, launched a successful fashion design company and later established the Tory Burch Foundation. Her research revealed some grim statistics: the majority of poor people in the United States.
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11. ________________Education plays an important role in earnings, despite success stories of those who dropped out of college or high school to start businesses. 12. ________________Employers are legally responsible for protecting their employees from the sexual harassment of clients and customers. 13. ________________Today, there appears to be no significant differences between the.
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1.In the ________________ stage of ethical development, individuals primarily consider their own needs, desires, and personal consequences in making ethical decisions. 2.An individual who can move beyond self-interest and duty, who considers the needs of the wider society, and who can employ ethical principles in a variety of situations, has attained.
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Case 2.3 Being Socially Responsible Helps Timberland Thrive The Timberland Company, based in New Hampshire, derives its name from the iconic yellow work boot introduced more than four decades ago. As importantly, Timberland has also found its place as a model for best practices in corporate social responsibility (CSR). The company’s passion.
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21.When the federal government generates enough revenue through taxation to cover the total proposed spending for the year, a ________________ has been attained. 22.The ________________ is the total cumulative borrowing by the federal government to finance budget deficits. 23.Six months or more of economic contraction counts as a ________________ 24.Nearly all of the.
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6. What are the four major areas in which businesses have responsibilities the general public? In what ways can meeting these responsibilities give a firm a competitive edge? 7. Identify and describe the four basic rights that consumerism tries to protect. How has consumerism improved the contemporary business environment? What challenges.
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6.List and define the factors that collectively determine supply. a.costs of inputs:  changes in the costs of factors of production, such as natural resources, capital, human resources and entrepreneurship, affect the amount of supply offered. b.costs of technologies:  changes in the costs of new technologies can affect the supply of products or.
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11. ________________ has occurred when an employee discloses to the media or government authorities any suspected illegal, immoral, or unethical practices of the organization. 12. ________________ is demonstrated by people who adhere to deeply felt ethical principles in business situations. 13.Congress enacted the ________________to further protect investors from unethical accounting practices. Among.
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11.When the federal government spends more than it gets from tax revenues, a ________________is the result. 12.The ability and willingness of buyers to purchase goods and services in the economy is known as ________________ 13.When people are out of work during a recession or other economic downturn, their job loss is referred.
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Case 2.2 Will That Pallet Be Aluminum, Timber, or Plastic? In an effort to create a more green supply chain, companies are considering substituting the ubiquitous wood pallet with plastic or aluminum. Delivering products to end users involves transportation, and most modes of transportation create some level of pollution. An aluminum pallet.
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Case 3.1 The State of Nuclear Energy In the 2010 State of the Union Address, the president called for more clean-energy jobs, with expansion of nuclear power as an alternative energy source. The 104 currently operating plants generate nearly 20 percent of America’s electricity. An alloy of enriched uranium powers nuclear.
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8. What does a nation’s unemployment rate indicate? Describe what type of unemployment you think each of the following illustrates: a.discharged armed forces veteran – b.bus driver who has been laid off due to cuts in his or her city’s transit budget – c.worker who was injured on the job and.
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Answers to Review Questions 1. How does microeconomics affect business? How does macroeconomics affect business? Why is it important for businesspeople to understand the fundamentals of each? 1.Draw supply and demand graphs that estimate what will happen to demand, supply, and the equilibrium price of coffee if these events occur: a.Widely reported medical.
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1. ________________Macroeconomics deals with large issues that affect a country’s overall economy. 2. ________________Macroeconomics and microeconomics are not related in any way. 3. ________________Government policy that impacts the overall economy is a good example of a microeconomic issue. 4. ________________The exchange process between buyer and seller represents the relationship between supply and demand. 5.List.
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1. Business ethics refers to standards of conduct and moral values applied in business decision making. a. True b. False 2. Which of the following shapes a company’s business ethics? a. The company’s code of ethics b. The company’s upper management c. The company’s ethical climate d. All of these 3. ________ refers to adhering to deeply held.
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Fill in.Identify the four basic types of competition. 1. ________________There is only one seller in the industry. 2. ________________Producers are able to differentiate their products. 3. ________________The industry is made up of many firms of similar size whose products are indistinguishable. 4. ________________Because the industries require large capital investment, there are very few producers. 5..
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3. Describe the four different types of competition in the private enterprise system. In which type of competition would each of the following businesses be likely to engage? a.large drug store chain – oligopoly b.small yoga studio – monopolistic competition c.steel mill – oligopoly d.large farm whose major crop is corn – pure competition e.Microsoft.
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Case 3.2 Pawn Shops Go Mainstream People facing layoffs and depleted savings become increasingly conservative in their spending and often resort to selling valuable items for cash or using them as collateral for a loan.  As a result, the pawnshop, once considered a lender of last resort, has gone mainstream. The recent recession.
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Case 2.1 Hilton Joins the Global Soap Project When DerreckKayongo, founder of The Global Soap Project visited India, what he saw was astounding. People were suffering from illness because they were unable to perform the simple act of washing their hands. The Global Soap Project is an initiative which provides bars of.
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Going Green: Raleigh Takes the Lead in Smart Grid Technology Smart-grid technology uses digitally-powered electric grids to gather, distribute, and utilize information on electrical use in specific areas. This leads to research that allows people to use cleaner and cheaper modes of energy. Currently, Raleigh, North Carolina is one of the.
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Hit & Miss: Chipotle’s Fast-Casual Dining Scores with Customers A little over two decades ago, chef Steve Ells, classically trained in French cooking, became the force behind Chipotle Mexican Grill.  With a loan of $85,000 from his father, and inspiration from authentic Mexican taquerias found in San Francisco’s Mission District, he.
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Case 2.3 Being Socially Responsible Helps Timberland Thrive The Timberland Company, based in New Hampshire, derives its name from the iconic yellow work boot introduced more than four decades ago. As importantly, Timberland has also found its place as a model for best practices in corporate social responsibility (CSR). The company’s passion.
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