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Study Resources (Business Management)

1.The Wealth of Nations was written by: a.Paul Samuelson. b.Karl Marx. c. Adam Smith. d. John Galbraith. 2.A capitalist economic system could also be called: a.a community interest system. b.a Utopian system. c.a futile system. d.a private enterprise system. 3.The factor payment that rewards entrepreneurship is: a.interest.c. interest. b. profit.d. rent. 4.The U.S. workforce in the 21st century can be expected to: a.require greater.
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5.What are fixed assets? Why is assessing risk important in capital budgeting? 6.How can a company finance fixed assets? 7.What are bonds and what do companies do with them? 8.How can companies use equity to finance their operations and long-term growth? 9.What are the functions of the securities markets? .
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Case 1.3 New Harvest Coffee Roasters Brews Up Fresh Business A self-proclaimed coffee fanatic, Rik Kleinfeldt, president of New Harvest Coffee Roasters, dwells on the aroma and flavor of coffee. Kleinfeldt started New Harvest Coffee Roasters over a dozen years ago in an effort to pay homage to fresh coffee. The movement.
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Hit & Miss: “Shwopping” to Help Others Consider this: more than 1 billion clothing items are sent to landfills annually, and about 30 percent of clothing in an average wardrobe has not been worn in over a year. British multinational retailer Marks & Spencer (M&S), one of the world’s most sustainable retailers,.
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11. For capitalism to operate effectively, the citizens of a private enterprise economy must have certain rights. Which of the following would NOT be considered part of the private enterprise system? a. Private property b. Profits c. The age of industrial entrepreneurs d. Competition 12. In addition to creating jobs and selling products, entrepreneurship also.
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Case 1.2 Nordstrom Rides High Despite its aversion to price markdowns, high-end clothing retailer, Nordstrom, continues to grow. Still family-run, Nordstrom has high expectations for its burgeoning online operations and has begun expanding overseas, but cautiously, to nearby Canada. The best known differentiators of the Nordstrom chain happen to be its commitment.
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Solving an Ethical Controversy: Can Fair Trade Be Ethical and Flexible? Fair Trade USA (FTUSA), the U.S. national fair trade organization, recently rocked the $6 billion fair trade world by splitting from the parent organization, the Fairtrade Labeling Organization (FLO). FTUSA will now set its own ethical standards, certifying coffee, cocoa,.
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1.________________In the private enterprise system, businesses are the primary providers of the goods and services needed by society. 2.________________Not-for-profit organizations face some of the same challenges as businesses that are profit-oriented. 3.________________While religious and charitable organizations are not-for-profits, government agencies are not. 4. ________________Only profit-seeking organizations face competition. 1.These are product inputs that are.
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11.The profit-seeking activities that produce the goods and services needed by an economic system or society are collectively called ________________. 12.Firms engaged in ________________ hire outside firms who are specialists to perform operations that were formally handled by the company’s own employees. 13.________________ is the term used to describe the business application.
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8.Define partnership and strategic alliance. Provide an example of two businesses that might form a strategic alliance and briefly describe how this would benefit each business. 9.  Identify the major changes in the workforce that will affect the way managers build a world-class workforce in the 21st century. Why is brainpower.
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3.1 What is an alternative term for private enterprise system? 3.2 What is the most basic freedom under the private enterprise system? 3.3 What is an entrepreneur? 4.1 What was the Industrial Revolution? 4.2 During which era was the idea of branding developed? 4.3 What is the difference between transaction management and management in the.
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GOING GREEN—Finance Executives Recognize the Benefits of Method’s Green Efficiencies 1.If greener operations cut company costs, how will this affect a company’s current assets and liabilities? 2.Why might Method decide to pursue greener business activities that are costly in the short run? 3.Do you think other household supply companies are beginning to realize.
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1. Not-for-profit organizations do not face any of the challenges that profit-seeking businesses do. a. True b. False 2. What is business? a. Business consists of all profit-seeking activities that provide goods and services to an economic system. b. Business consists of marketing products that people want. c. The term business only.
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1. ________________A simplistic definition of business would be: All profit-seeking activities and enterprises that provide products and services needed or desired in an economic system. 2. ________________More and more large firms are recognizing the value of entrepreneurial activities among their employees. 3. ________________Technology is an example of capital. 4. ________________The factor payment for.
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Going Green Internet Billionaire’s Goal: Help China Breathe Easier Less than two decades ago, Jack Ma founded Alibaba in his Hangzhou apartment. Alibaba Group includes an online payment system, Alipay, and two e-commerce sites, Tmall and Taobao. The company has been described as the Chinese version of eBay, Amazon, and PayPal. Its.
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1. Ticketmaster, now part of Live Nation Entertainment, responded to the threat of the secondary ticket resale market (by firms like Craigslist and StubHub) by launching its own ticket marketplace. How will Ticketmaster’s marketplace impact secondary market competitors? 2. Live Nation anticipates double-digit growth in the number of concert goers worldwide.
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1.1 To whom do businesses have responsibilities? 1.2 If a firm is meeting all its responsibilities to others, why do ethical conflicts arise? 2.1 What role can an ethics compliance officer play in a firm? 2.2 What are the three components of a typical company’s approach to ethics and social responsibility? .
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Answers to Review Questions 1.Why is business so important to a country’s economy? 2. What challenges faced by not-for-profit organizations are similar to those faces by profit-seeking businesses? What unique challenges do not-for-profits face? 3.Identify and describe the four basic inputs that make up factors of production. Give an example of each factor.
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3.What type of ethical dilemma does each of the following illustrate? (A situation might involve more than one dilemma.) a.Due to the breakup with a client, an advertising agency suddenly finds itself representing rival companies. b.A newly hired employee learns that the office manager plays computer games on company time. c.An employee is.
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Going Green:Thinking Outside the Box Marty Metro, founder and CEO of Usedcardboardboxes.com (UCB) has come up with a solution which helps with the hassle of packing and moving. Metro has built a multi-million dollar business buying and selling used cardboard boxes for not only movers, but for companies engaged in packing,.
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1.List the four factors of production in the private enterprise system: 1.natural resources 2.human resources 3.capital 4.entrepreneurship 2.List the basic rights guaranteed to the public in the private enterprise system. 1.private property 2.profit 3.freedom of choice 4.fair competition 3.The economics system that rewards firms for their ability to perceive and serve the needs and demand of consumers is called ________________..
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Hit & Miss: AT&T’s Commitment to Hiring Military Vets AT&T has invested $1.5 billion over the last five years in its broadband and wireless networks -- and in Ohio alone, the company will hire over 200 employees in customer service, retail, and technical positions.  AT&T has plans to fill those positions with.
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1.The standards of conduct and moral values that admired companies practice are known as: a.vision.c. social responsibility. b.creativity.d. business ethics. 2.The call for greater social responsibility among admired business means: a.businesses should focus exclusively on short-term profit goals. b.businesses should focus exclusively on the interests of the owners andmanagers. c.management should consider the social, environmental and.
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Case 1.3 New Harvest Coffee Roasters Brews Up Fresh Business A self-proclaimed coffee fanatic, Rik Kleinfeldt, president of New Harvest Coffee Roasters, dwells on the aroma and flavor of coffee. Kleinfeldt started New Harvest Coffee Roasters over a dozen years ago in an effort to pay homage to fresh coffee. The movement.
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Case 1.1 Mars, Inc.: A Sweet Place to Work Stricken with polio as a child, Frank C. Mars learned the art of hand dipping chocolate in his mother’s kitchen.  Today, the company’s brands include its iconic M&s, LifeSavers, Skittles, and Juicy Fruit and Orbit chewing gum. Mars recently made it on to.
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1.1 To whom do businesses have responsibilities? 1.2 If a firm is meeting all its responsibilities to others, why do ethical conflicts arise? 2.1 What role can an ethics compliance officer play in a firm? 2.2 What are the three components of a typical company’s approach to ethics and social responsibility? .
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Hit & Miss Twitter’s Dorsey: 140 Characters at a Time Twitter began as an interoffice microblogging platform created by programmers from a defunct company started by Jack Dorsey. When a small earthquake shook San Francisco, word of the quake spread quickly via Twitter—and a new company was born.  Square, Dorsey’s most recent.
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7.A partnership formed to create competitive advantage for the businesses involved iscalled a: a.social responsibility. c. strategic alliance. b.vision.d. global market. 8.Managing technology means: a.using technology to provide new goods and services for customers. b.using technology to improve customer service while lowering prices. c.being aware of new questions about business ethics and social responsibility. d.all of the.
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21.The ________________ of the U.S. workforce enhances innovation, creativity, and sensitivity to the multicultural marketplace by blending individuals of different genders, ethnic backgrounds, cultures, religions, ages, and physical and mental abilities, and increases a firm’s chance of success. 22.________________ skills include the ability to analyze information and assess its authenticity, accuracy,.
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1.________________Private enterprise and capitalism are two different economic systems. 2.________________People who take the risks of pursuing a business opportunity are called entrepreneurs. 3.________________Profits are both the reward and the incentive for risk taking. 4.________________Entrepreneurship does not require taking risks. 5.________________Business competition is healthy and beneficial to consumers. 6.________________Freedom of choice means that firms will have.
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1.________________The colonial era was characterized by a factory system and the growth of large cities. 2.________________The production era marked the beginning of a major emphasis on marketing in the business world. 3.________________During the marketing era, advertisement took a back seat as a business strategy. 4.________________The relationship era is driven by information technology that.
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