BUSN 115 Intro Business Technology Entire Course

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BUSN 115 Intro Business Technology Entire Course
Prepare a two- to three-page paper in APA style, sixth edition format…

 

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BUSN 115 Intro Business Technology Entire Course

BUSN 115 Intro Business Technology Entire Course

A + Assignment Week 1, 2, 3, 5, 6| Quiz Week 2, 3, 5, 6| Midterm Exam| Discussions Week 1-7| Final Exam

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A+ Entire Course: Assignment Week 3, 5| Quiz Week 2, 4, 6| Discussions Week 1-7| Final Exam

Economic System Homework Week 1 

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Prepare a two- to three-page paper in APA style, sixth edition format, that describes, explains, addresses, and answers the following questions or statements.

Which economic system is best suited for handling a crisis of epic proportions (hurricane, flood, blizzard, forest fire, etc.)? Why? (9 points)

Describe and explain why a socialist system might be the best in responding to the needs of people struck by an emergency situation like the earthquake that occurred in Haiti in January 2010. (9 points)

Use the laws of supply and demand to explain why the cost to heat our homes and businesses goes up in the winter time. Be sure to explain your answer fully. (9 points)

Include APA style in-text citations, as well as a reference section. (3 points)

Preview:

The socialist economic system is best suited for handling crises of epic proportions because the government is responsible for the employment of members of the emergency teams, such…

Sports Franchises Homework Week 2 

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Prepare a two- to three-page paper in APA style, sixth edition format that describes, explains, addresses, and answers the following questions or statements.

What cultural factors must U.S. sports franchises overcome to increase popularity abroad? Why? (9 points)

How can franchises ensure their products are appropriate for international markets? (9 points)

Should governments protect their industries by placing tariffs on imported products? Why? Why not? (9 points)

Include APA-style in-text citations as well as a reference section. (3 points)

Homework submissions should be typed in Word. Use 1-inch margins with 12-point type and double spacing. Proper spelling, grammar, clarity, and APA style for a business report will be considered in addition to concepts as part of the final grade. Use subheadings to separate major sections or concepts. The final paper should be between 500 and 750 words and be two to three pages in length. Submit your paper as an attachment in the Dropbox. Remember, your submitted paper must be your own work with appropriate citations for your resources. Please be sure to include in-text (parenthetical) citations any time research is included, in APA format, as well as a list of references for all sources.

An essay is a composition that is intended to be an analytical, interpretative, original response about the topics and examples in question. An appropriate response should fully answer all questions. It should be organized, have a purpose, and contain examples to support the purpose. There should be a clear introduction, body, and conclusion. Homework should be edited for grammar, spelling, typos, and correct punctuation. The writing style should demonstrate an understanding of the material assigned and integrate multiple points of view, using vocabulary reflective of the topics discussed over the course of the week.

Preview:

Cultural Factors that U.S. Sports Franchises Must Overcome to Increase Popularity Abroad

One of the cultural factors that sports franchises must overcome to increase popularity overseas includes increasing the people’s familiarity with the sport and establishing…

BUSN 115 Intro Business Technology Entire Course

Quiz Week 2 

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(TCO 1) A partnership in which two more companies (sometimes from different countries) join to undertake a major project is called (Points : 5)

Absolute advantage

Comparative advantage theory

Countertrading

Joint venture

Tariff

(TCO 3) A global strategy in which a licensor allows a licensee to produce its product in exchange for a royalty is (Points : 5)

Tariff

Strategic alliance

Free trade

Exporting

Common market

(TCO 3) The value of one nation’s currency relative to the currencies of other countries is known as (Points : 5)

Balance of trade

Devaluation

Dumping

Embargo

Exchange rate

Research Paper “The United States Laws” Week 3 

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Weekly Research Paper (85 points total): Prepare a three-page paper in APA style that describes, explains, addresses, and answers the following.

The United States has several laws that are intended to further fair, balanced, and competitive business practices. Do you think that such laws are effective? If so, why? If not, why not? Be sure to provide evidence to support your position one way or the other. Using the course shell, access the DeVry University library to research this topic a bit further. In addition, access the http://www.ftc.gov website for additional information and resources.

Include APA style in-text citations as well as a reference section.

Research papers should be typed in Word. Use 1-inch margins with 12-point type and double spacing. Proper spelling, grammar, clarity, and APA style for a business report will be considered in addition to concepts as part of the final grade. Use subheadings to separate major sections or concepts. The final paper should be between 750 and 1,500 words and three pages in length. Submit your paper as an attachment in the Dropbox. Remember, your submitted paper must be your own work with appropriate citations for your resources. Please be sure to include in-text (parenthetical) citations in APA format and a list of references for all sources.

An essay is a composition that is intended to be an analytical, interpretative, original response about the topics and examples in question. An appropriate response should fully answer all questions and develop the topic. It should be organized, have a purpose, and contain examples to support the purpose. There should be a clear introduction, body, and conclusion. Homework should be edited for grammar, spelling, typos, and correct punctuation. The writing style should demonstrate an understanding of the material assigned and integrate multiple points of view, using vocabulary reflective of the topics discussed in the course.

Make sure you support your conclusions and decisions with sound research and analysis from at least two sources. Your textbook can be a source. Explanations of your options and choices are an important part of your demonstration of your mastery of this proposal. Consider your plan from the point of view of a persuasive business proposal.

Preview:

One of the ways by which these laws are effective is that they protect the employee rights and ensure workplace safety (Bovee & Thill, 2013).  An example is the minimum wage law, which ensures that employees receive fair compensation.  On the other hand ….

BUSN 115 Intro Business Technology Entire Course

Quiz Week 3 

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(TCO 2) What is a document that protects a creator’s rights to materials such as books, articles, photos, paintings, and cartoons? (Points : 5)

Administrative agencies

Uniform Commercial Code

Copyright

Negligence

Tort

(TCO 2) Legal procedures initiated by a debtor who are unable to meet their financial obligations is called (Points : 5)

Bankruptcy

Damages

Taxes

Contract

Judiciary

(TCO 2) The dimension of social responsibility that includes charitable donations is (Points : 5)

Social audit

Corporate philanthropy

Integrity-based ethics codes

Corporate policy

Corporate responsibility

Quiz Week 4

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(TCO 3) Which of the following is an example of a lifestyle business? (Points : 5)

A paper recycling unit that employs about 800 employees

A self-employed landscape designer

Nature’s Delights, an international gourmet food chain that is considered to be the world’s leading retailer of natural and organic foods

Museum of Fine Arts, a government-funded museum that houses a collection of 19th and 20th century American, German, and French paintings

Freedom Books, a firm that is the leader in the English-language, book-publishing sector

(TCO 3) Which of the following is true regarding high-growth ventures? (Points : 5)

They are usually run by one individual rather than a team.
They refer to businesses such as a self-employed consultant, a corner florist, or a small e-commerce venture

They are mostly family businesses

They are built around the personal and financial needs of an individual

They expand rapidly by obtaining a sizable supply of investment capital

(TCO 3) Small companies tend to differ from large ones because _____. (Points : 5)

They have a wider focus compared to larger companies

They are mostly launched with more financial backing than larger companies

They have less freedom to innovate and move quickly compared to larger companies

They can react to market changes and make decisions more quickly than larger companies

They are more bureaucratic compared to larger companies

(TCO 3) _____ are expensive organizational products with a long useful life. (Points : 5)

Shopping products

Capital items

Expense items

Specialty products

Convenience products

(TCO 3) Absco computers introduced a low-cost, cloud-based storage service. The company adopted unit-based pricing for the product and many small businesses found the product to be very effective in reducing their storage costs. The sale of the product has increased swiftly in recent months and is at an all-time high. The product is presently in the _____ stage of product lifecycle. (Points : 5)

Maturity

Growth

Saturation

Research

Introduction

(TCO 3) People who monitor social media to spot shifts in consumer tastes are called _____. (Points : 5)

Social arbitrators

Trend watchers

Crowd pullers

Social developers

Social programmers

(TCO 4) Organizational purchasing differs from consumer purchasing in that organizational purchasing _____. (Points : 5)

Is influenced more by subconscious and emotional factors

Usually involves closer relationships between buyers and sellers

Has lower complexity in product usage

Lacks a formal buying process
Is less clearly driven by economics
(TCO 4) _____ refers to the increase in the value of a product with the number of customers who use it. (Points : 5)

Possession utility

Cognitive dissonance

Network effect

Positioning

Form utility

(TCO 4) Creating new goods and services for a firm’s current markets is called _____. (Points : 5)

Market penetration

Product development

Market development

Diversification

Pure play

(TCO 4) Retailers differ from wholesalers in that retailers _____. (Points : 5)

Sell products to small-business owners

Sell products to wholesalers, government agencies, and educational institutions

Primarily sell products to consumers for personal use

Receive bulk shipments from producers

Create possession utility
(TCO 4) One of the valuable services that a wholesaler might perform is _____, in which it receives large shipments from the producer and then sells smaller quantities to retailers. (Points : 5)

Rack jobbing

Drop shipping

Bundling

System integration

(TCO 4) Producers rely on a class of intermediaries called value-added resellers (VARs) to assist with which of the following functions? (Points : 5)

Transport the goods from the producer to the retail outlets

Assist with advertising, in-store displays, and other promotional efforts

Provide market information

Divide bulk quantities into smaller packages

Complete or customize solutions for customers
(TCO 4) The government agency that has the authority to impose penalties against advertisers who violate federal standards for truthful advertising is the _____. (Points : 5)

Federal Communications Commission

Consumer Product Safety Commission

Federal Trade Commission

Federal Advertising Administration

Federal Regulatory Commission

(TCO 4) In _____, behaviorally targeted ads follow users even as they move on to other websites. (Points : 5)

Attack ads

Advocacy advertising

Cooperative advertising

Remarketing

Search engine marketing

(TCO 4) Institutional advertisements that present a company’s point of view on public issues, such as education or healthcare, are known as _____ advertising. (Points : 5)

Product

Comparative

Cooperative

Advocacy

Consultative

BUSN 115 Intro Business Technology Entire Course

Midterm Exam 

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(TCO 1) The amount of money a business takes in during a given time period by selling goods and/or selling services. (Points : 5)

Business

Goods

Services

Entrepreneur

Revenue

 (TCO 1) That part of economics that studies the behavior of people and organizations in particular markets. (Points : 5)

Economics

Microeconomics

Macroeconomics

Resource development

Invisible Hand

(TCO 1) Describe and explain capitalism and how it functions in a free market economy. (Points : 30)

(TCO 2) An unethical activity in which insiders use private company information to further their own fortunes or those of their family and friends. (Points : 5)

Insider trading

Social audit

Socially conscious investors

Environmentalists

Union officials

(TCO 2) Describe and explain corporate responsibility using an ethical perspective. Your stakeholder group for your answer is parents of high school students. Your company designs, produces, and sells video game apps for the mobile market. A concern has been raised in the community where your company is located about the violence portrayed in your mobile video game apps. What do you say to the parents? Why? (Points : 30)

(TCO 3) A complete ban on the import or export of a certain product; or the stopping of all trade with a country. (Points : 5)

Tariff
Import/Exporting Ban

Censoring

Embargo

None of the above

(TCO 3) An unfavorable balance of trade occurs when the value of a country’s imports exceeds that of its exports. (Points : 5)

Trade surplus

Trade deficit

Tariffs

Strategic alliance

Multinational corporation

(TCO 3) Describe and explain the fundamentals of the international market. Why do nations trade and how trade measured. (Points : 30)

(TCO 4) Investors who provide money to finance new businesses or turnarounds in exchange for a portion of ownership, with the objective of reselling the business at a proft.(Points : 5)

Venture Capitalists

Extrapreneurs

Intrapreneurs

Angel Investors

None of the above

(TCO 4) Outline the three ways an entrepreneur can start the business discussing the advantages and disadvantages of the three. (Points : 25)

BUSN 115 Intro Business Technology Entire Course

Research Paper “A Salesperson” Week 5

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Weekly Research Paper (85 points total): Prepare a three-page paper in APA style that describes, explains, addresses, and answers the following.

Many people shy away from careers in selling, often because they think they are not outgoing enough or because salespeople are dishonest or pushy. In this weekly research paper, describe your most memorable experience with a salesperson that was positive and made you feel comfortable. Then in the next section, describe an experience with a salesperson that was unpleasant and made you feel uncomfortable. In comparing the two experiences, answer the following questions. In reflecting on the positive experience, what one thing about the experience made you feel good about it? Why? In reflecting on the unpleasant experience, what one thing about the experience made you feel uncomfortable about it? Why? Consider what you do for work on a day-to-day basis. Given what you do, do you consider yourself to be some form or fashion of a salesperson? Why? Why not?

Include APA style in-text citations as well as a reference section.

Research papers should be typed in Word. Use 1-inch margins with 12-point type and double spacing. Proper spelling, grammar, clarity, and APA style for a business report will be considered in addition to concepts as part of the final grade. Use subheadings to separate major sections or concepts. The final paper should be between 750 and 1,500 words and three pages in length. Submit your paper as an attachment in the Dropbox. Remember, your submitted paper must be your own work with appropriate citations for your resources. Please be sure to include in-text (parenthetical) citations in APA format and a list of references for all sources.

An essay is a composition that is intended to be an analytical, interpretative, original response about the topics and examples in question. An appropriate response should fully answer all questions and develop the topic. It should be organized, have a purpose, and contain examples to support the purpose. There should be a clear introduction, body, and conclusion. Homework should be edited for grammar, spelling, typos, and correct punctuation. The writing style should demonstrate an understanding of the material assigned and integrate multiple points of view, using vocabulary reflective of the topics discussed in the course.

Make sure you support your conclusions and decisions with sound research and analysis from at least two sources. Your textbook can be a source. Explanations of your options and choices are an important part of your demonstration of your mastery of this proposal. Consider your plan from the point of view of a persuasive business proposal.

Preview:

A positive experience that the writer had with a salesperson was when he was purchasing some food and drink at a new grocery store and he wasn’t familiar with where the food items he needed were located.  He asked a salesperson to point him to…

BUSN 115 Intro Business Technology Entire Course

Quiz Week 5 

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(TCO 5) A whole set of marketing intermediaries that join together to transport and store goods in their path from producers to consumers is (Points : 5)

Administered distribution system

Agents and brokers

Wholesaler

Distribution channel

Contractual distribution system

(TCO 9) Promotional methodology in which heavy advertising and sales promotion efforts are directed toward consumers so that they will request the products from retailers is called____(Points : 5)

Viral marketing

Publicity

Personal selling

Pull strategy

Pick economy

(TCO 8) Describes a type of distribution system (Points : 5)

Product

Place

Promotion

Price

Marketing

BUSN 115 Intro Business Technology Entire Course

Mining Group Gold Assignment Week 6

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Prepare a two- to three-page paper in APA style, sixth edition format, that describes, explains, addresses, and answers the following questions or statements.

Questions to Consider (30 points total)

Review the information in the lecture that presents mining group gold as a method for facilitating meetings. Then, after you have studied and reviewed this information, answer the following questions in a two- to three-page paper. Your paper should use APA style.

Describe and explain the five basic steps of mining group gold for its team meeting management process. (9 points)

What are the steps for dealing with emotions during a session or meeting? (9 points)

Describe and explain how you believe the mining group gold process will improve teamwork, empowerment, and effective communication. (9 points)

Include APA style in-text citations as well as a reference section. (3 points)

Upload your completed paper to the Dropbox for Week 6.

Homework submissions should be typed in Word. Use 1-inch margins with 12-point type and double spacing. Proper spelling, grammar, clarity, and APA style for a business report will be considered in addition to concepts as part of the final grade. Use subheadings to separate major sections or concepts. The final paper should be between 500 and 750 words and be two to three pages in length. Submit your paper as an attachment in the Dropbox. Remember, your submitted paper must be your own work with appropriate citations for your resources. Please be sure to include in-text (parenthetical) citations any time research is included, in APA format, as well as a list of references for all sources.

An essay is a composition that is intended to be an analytical, interpretative, original response about the topics and examples in question. An appropriate response should fully answer all questions. It should be organized, have a purpose, and contain examples to support the purpose. There should be a clear introduction, body, and conclusion. Homework should be edited for grammar, spelling, typos, and correct punctuation. The writing style should demonstrate an understanding of the material assigned and integrate multiple points of view, using vocabulary reflective of the topics discussed over the course of the week.

Preview:

The first step helps the group identify the goals or objectives for holding a meeting.  This ensures that everyone understands why the meeting is being held and how they can contribute to it.  The second step helps the group identify the desired results for the…

BUSN 115 Intro Business Technology Entire Course

Quiz Week 6 

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(TCO 6) A brief articulation of the principles that guide a company’s decisions and behave (Points : 5)

Mission Statement

Vision Statement

Quality Control

Values Statement

None of the above

(TCO 6) Herzberg’s motivating factors includes _____. (Select the one best answer.) (Points : 5)

A sense of achievement

Interest in the long-term goals of the organization

A subordinate’s fairness

Life and work balance

Economic conditions in the industry

(TCO 7) Multidimensional networks of suppliers and outsourcing partners is called _____. (Points : 5)

Value chain

Value web

Supply chain

Supply chain management

None of the above

BUSN 115 Intro Business Technology Entire Course

Discussions Week 1-7

Posted by ALL Students 606 Pages 

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In What Manner is Wal-Mart Influencing America and Can Social Entrepreneurship Succeed Discussions Week 1 All Students Posts 101 Pages

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In What Manner is Wal-Mart Influencing America? – 54 Pages

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Do Wal-Mart’s business practices raise or lower our standard of living? How? Why do you think this is so?  Is Wal-Mart’s business strategy fair and equitable to all parties? Why or why not? What are ways that a government of any country can lessen the risks to encourage people to start businesses (entrepreneurship)? Based on the feedback in this thread can we agree that a company’s strategy can be viewed as management’s game plan for:

  • How to grow the business
  • how to compete successfully
  • how to attract and please customers
  • How to conduct operations
  • Overall how to achieve targeted objectives

Any thoughts?…

Can Social Entrepreneurship Succeed? – 47 Pages

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What are the risks for a social entrepreneur? Why? What are the benefits for a social entrepreneur? Why? What are the similarities and differences between business entrepreneurs and social entrepreneurs? Why is this important to consider and discuss? Can social entrepreneurship be successful in our capitalistic society; if so, how? Why? If not, why not? What should be changed in our capitalistic society to assist social entrepreneurs in becoming successful? Why? Would strict capitalists recommend such changes in order to accommodate social entrepreneurs? How?…

International Trade or Stay Close to Home and Industrialized Versus Developing Discussions Week 2 All Students Posts 93 Pages

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International Trade or Stay Close to Home? – 50 Pages

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Most of the world’s population lives outside the United States. However, many U.S. companies, especially small businesses, still do not engage in international trade. Why do you think this is the case? If you were a small business owner, would you want to engage in international trade? Why? Why not? What impact would your endeavors in international trade have on your business? Why? Many people believe that imposing quotas, tariffs, or embargoes upsets the theory of comparative advantage, which is based on free economic exchange. According to the theory, companies should sell products to other countries that they can most efficiently produce, and buy products from other countries that can produce them more efficiently.

Comparative advantage can sometimes be a difficult concept for people to understand. Our written lecture this week can be interpreted as an example of using Unit X (United States) and Y (Colombia), and Products A (growing coffee beans) and B (producing coffee), to explain the theory. Often, this can seem even more confusing. Let’s try as a class to come up with companies and products to make an example of comparative advantage. Let’s make some sense of this theory! I look forward to the discussion…Who would like to start?…

Industrialized Versus Developing – 43 Pages

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The United States is considered to be an industrialized nation because we have such a high standard of living. Countries with lower standards of living are considered to be emerging or developing nations.  What factors prevent developing countries from becoming developed? Why? What are the responsibilities of industrialized nations to developing nations in this regard? Why? What are the responsibilities of businesses in industrialized nations to businesses in developing nations? Are there any? Why? Why not?…

Socially Responsible Is it a Matter of Ethics Discussions Week 3 All Students Posts 88 Pages

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Socially Responsible? – 35 Pages

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Will there ever be a single set of international rules governing multinational companies? Why? Why not? In what way are United States businesses demanding socially responsible behavior from their international suppliers? Why is this important to discuss? Society is constantly redefining its expectations of business and now holds most enterprises to high behavioral standards. Companies must go beyond “doing well” – simply earning a profit – to “doing good” – living up to their social responsibility.

In a free enterprise system, as we discussed in Week 1, companies that fail to respond to their customers’ needs and demands soon go out of business. Today, customers are increasingly demanding that the companies they buy goods and services from be socially responsible.

Question: What is business’s responsibility to the following?

  1. a) Environment
  2. b) Employees
  3. c) Customers
  4. d) Investors
  5. e) Community

Who will get us started on this discussion …

Thank you for completing Week 2 Quiz. Please review your answers….

Is it a Matter of Ethics? – 33 Pages

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An acquaintance of yours in your class has just asked you if he or she could copy a paper you wrote for another instructor last semester. Chances seem good that last semester’s instructor and your current course instructor don’t talk with one another much. Given that, what are your alternatives? What are the consequences of each? Would this situation have been easier to resolve if you had asked yourself the three ethical test questions listed in this week’s assigned chapter? Why? Why not?…

Ethical Considerations and A Small Business and Social Media Discussions Week 4 All Students Posts 85 Pages

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Ethical Considerations – 32 Pages

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You’re thinking about starting your own chain of upscale, drive-through espresso stands. You have several ideal sites in mind, and you’ve analyzed the industry and all the important statistics. You have financial backing, and you really understand the coffee market. In fact, you’ve become a regular at a competitor’s operation for over a month. The owner thinks you’re his best customer. He even wants to name a sandwich creation after you. But you’re not there because you love the espresso. No, you’re actually spying. You’re learning everything you can about the competition so you can outsmart them. Is this behavior ethical?…

A Small Business and Social Media – 53 Pages

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What is your overall goal in using social media? Have you used social media on a personal level? If so, how? Were there any problems? How did you get past the problems?

What do you see as the advantages to using social media in a small business? Why?

What do you see as the disadvantages to using social media in a small business? Why?

How do you see integrating the use of social media in your day-to-day operations? Why is this important to consider? How will you know if your social media efforts are successful? What would be your leading indicators?  If your social media efforts were not successful, what would be your exit plan or exit strategy? Why? How? How long should you wait to know if your efforts are successful?…

Communication In a Promotional Way and Blogs Podcast and Social Media Discussions Week 5 All Students Posts 75 Pages

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Communication: In a Promotional Way – 30 Pages

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What kinds of problems can emerge if a firm doesn’t communicate with environmentalists, the news media, and the local community? Why? Do you know of any firms that aren’t responsive to your community? If so, describe the firm and tell us why it isn’t responsive. What are the consequences if a firm chooses to ignore such stakeholder groups?…

Blogs, Podcasts, and Social Media – 35 Pages

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How have blogging, podcasting, and social media affected other media you use, like news sites, newspapers (either printed or online versions of the printed papers), or television? Do you think blogging is an influential word-of-mouth promotional tool? Why? Why not? Do you read newspapers now? If so, which ones? Why?…

What Me A Manager Workers and Robots Discussions Week 6 All Students Posts 91 Pages

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What? Me!? A Manager?  – 53 Pages

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Do you prefer to work for a small firm or a large firm? Why? Do you prefer to work for a private company or a public company? Why? Do you prefer to work in the for-profit sector or the not-for-profit sector? Why? Do you prefer to work in an office setting? Why? Do you prefer to work out in the field? Why? What kind of leader do you think that you would be? Why? Do you have any information to support your self-perceived leadership style? If so, what is this information?…

Workers and Robots: Fair and Equitable? – 38 Pages

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Are you concerned that automation may increase unemployment or underemployment in the United States and around the world? Why? Why not? Is using robotic technology in a factory in the United States a fair and equitable solution to the high cost of human labor? Why? Why not? Can you explain in your own words what you believe a company culture is?  If you use the textbook for your explanation please be sure to provide an in-text citation. What kind of company culture would you try to create if you owned a business? How do most companies use operations management to stay competitive in their respective industries? What keeps a company from offshore outsourcing its production process?…

Effects of Information Technology on Management and Financial Controls Discussions Week 7 All Students Posts 83 Pages

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Effects of Information Technology on Management – 50 Pages

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Evaluate and discuss the human resource, security, privacy, and stability issues affected by information technology. The increase of information technology has affected management greatly. The best guess is that it will probably continue to do so. Given that, discuss the issues from the perspective of change and change management. What is the impact of such issues on the management of information technology? Conversely, what is the effect of information technology on management? Why is this important to discuss? In what way does information technology and management impact what you do at your job on a day-to-day basis? Why do you think this is important to discuss?…

Financial Controls – 33 Pages

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The company you co-founded last year is growing rapidly and has strong prospects for an IPO in the next year or two. The additional capital that an IPO could raise would let you hire the brightest people in the industry and continue to innovate with new product research. There is one potential glitch: you and the rest of the executive team have been so focused on launching the business that you haven’t paid much attention to financial control. You’ve had plenty of funds from venture capitalists and early sales, so working capital hasn’t been a problem, but an experienced CEO in your industry recently told you that you’ll never have a successful IPO unless you clean up the financial side of the house. Your co-founders say they are too busy chasing great opportunities right now, and they want to wait until right before the IPO to hire a seasoned financial executive to put things in order. What should you do and why?…

BUSN 115 Intro Business Technology Entire Course

Final Exam 

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(TCO 1) _____ refer to a resource or capability a company must have before it can start competing in a given market. (Points : 5)

Assets

Economies of scale

Barriers to entry

Technological requirements

Fixed costs

(TCO 1) Free-market capitalism is characterized by _____. (Points : 5)

The right of few sellers dominating the market

The right to bear and keep arms

The right to freedom of competition

The right to invest in foreign stock markets

The right to serve on juries

(TCO 1) Home-based entrepreneurs should focus on _____. (Points : 5)

Seeking a short-term payoff

Creating a long-term vision

Accepting security

Getting a line-of-credit from a foreign bank

Understanding financial ratios on their balance sheet

(TCO 3) A small business is defined as a company that _____. (Points : 5)

Is newly launched and has fewer than 100 shareholders

Is dominant in its field and employs fewer than 1,500 employees

Has a revenue of less than $750,000

Is independently owned and operated and not dominant in its field

Is funded through personal lines of credit and has fewer than 1,000 employees

(TCO 1) You own Wash This Way Laundromat in a busy part of town. ABC Laundry, a chain store competitor, opened across the street in a busy shopping strip. You decide to improve your business by adding an internet café offering free Wi-Fi. Why? (Points : 5)

To promote private ownership of businesses

To improve quality of life

To exceed customer expectations

To expand your market

(TCO 2) Some regulation of business seems necessary to ensure fair and honest dealings with the public. The impact of this statement can best be explained by which of the following? (Points : 5)

Consumers and investors have called for increased government regulation in the financial sector

U.S. businesses will need to work with government to create a competitive environment that is fair

Future financial crises will not be as severe as previous ones

Businesses won’t have to worry with future healthcare insurance regulations

Global competition will steadily decline over time

(TCO 2) A conscious plan that represents and encourages a unique set of values includes which? (Points : 5)

Our elected representatives

Our communities
Our competitors
Our employees

Our customers

(TCO 1) A technique that combines all the promotional tools into one comprehensive, unified promotional strategy includes which? (Points : 5)

The creation of a positive brand image

Meeting the needs of the consumer

Meeting the strategic marketing goals of the firm

Meeting the promotional goals of the firm

Meeting profit expectations of external investors

(TCO 1) You own a hardware store in the small town where you live. A big-box, multiline competitor has just opened. You see the following as your advantages of maintaining your market share and continued sales revenue. (Points : 5)

Quickly adapting to the market

Providing improved customer service

Increasing your inventory levels

Opening a branch store across the street from the big box

Providing free expert advice and consultation to your customers

(TCO 1) You are fairly good at various and sundry home repairs. You aren’t very good at electrical things or anything having to do with plumbing. But you’re great with painting, patching, and general maintenance on a home. You’re contemplating starting a home repair business in your town. What are some issues that you can influence and should be concerned with in launching a new small-business start-up? (Points : 5)

Undercapitalization

Competitors and competition

Government control

Collecting and remitting sales and use taxes

Training for what you don’t know how to do

(TCO 1) The latest economic news is not very positive. Unemployment rates are higher than expected, consumer confidence has fallen, and companies are reporting layoffs are in order. The Federal Reserve chairman acknowledges the economy is in a recession. What actions might the federal government and the Federal Reserve take to give the economy a boost? What are these policies called? (Points : 10)

(TCO 2) The Uniform Commercial Code includes which? (Points : 5)

Laws that cover promissory notes and checks

Legally enforceable agreements between two or more parties

Bills of Lading

Something of value

Forms of commercial paper

(TCO 2) It is always best to put a contract in writing, even though oral contracts can be enforceable under contract law. A contract should _____. (Points : 5)

Specify the extent of profits expected by the original party

Be recorded at the secretary of state’s office

Contain a clear offer and agreement

Have only one party to the contract sign and date it

(TCO 3) One disadvantage of free trade is _____. (Points : 5)

domestic companies can lose their comparative advantage

Uninterrupted flow of capital provides for lower interest rates

Workers will be given across-the-board pay increases

A company’s productivity grows when it has an absolute advantage

Domestic workers can be trained for additional jobs

(TCO 3) What are the advantages of corporations? (Points : 5)

has the power to own property and conduct business

It is owned by shareholders

It has stock which can be public or private

All statements are true

(TCO 2) Which category of business law originates from legislative action? (Points : 5)

Administrative Law

Common Law

Statutory Law

Civil Law

(TCO 3) Nations and companies trade internationally for any of the following reasons: (Points : 5)

Expanding into new markets to increase sales revenues

Pursuing economies of scale to achieve lower production costs

Acquiring materials, goods, and services not available at home

All of the above

(TCO 3) Nations rely on a number of key indicators to measure global trade. These include which? (Points : 5)

The total value of a nation’s exports compared to its imports measured over a particular period
The total value of a nation’s imports compared to its gross domestic product over a particular period

The total value of a nation’s exports compared to the value of the International Monetary Fund

The difference between money coming into a country and money leaving the country

The difference between money leaving the country and its imports measured over a particular period
(TCO 3) In 1948, a global forum was created whose purpose it was to reduce trade restrictions on goods, services, ideas, and cultural programs. The results of the efforts of this organization include which?  (Points : 5)

The creation of regional alliances

Reduction of tariffs an average of 38% worldwide

Expansion of new trade rules to areas like agriculture

The protection of patents

Overcoming constraints and decrease business opportunities

(TCO 3) Strategies for reaching global markets include which? (Points : 5)

Licensing

Importing

Direct marketing

Franchising
Contract manufacturing

(TCO 4) Consumers have needs for living and wants, which are desires and to know them helps businesses to meet market demands.  From the following list, identify which combination is just needs, or just wants. (Points : 5)

Food and Big Mac

Motorcycle and car

Shelter and condo

Water and Coca-Cola

(TCO 4) A system that captures, organizes and capitalizes on all the interactions that a company has with its customers is referred to as: (Points : 5)

Customer Schmoozing

Customer Respect Pandering

Customer Rated Loyalty

Customer Relations Management

(TCO 4) When someone regrets making a purchase immediately after making it this is known as? (Points : 5)

Wants and needs

Cognitive dissonance

Exchange process

Behavior

(TCO 4) The disadvantages of sole proprietorships are which? (Points : 5)

Risk of personal success
Risk of personal loss

Unlimited financial resources

Few or no fringe benefits

Unlimited life span

(TCO 4) A limited liability company has which of the following advantages? (Points : 5)

Limited liability

Choice of taxation
Flexible ownership rules

Self-employment taxes

Fewer incentives

(TCO 4) To look at problems and/or passions and see opportunities in them, which of the following questions should be asked? (Points : 5)

What do I want but can never find?

What services would improve society?

What products would improve my life?

What irritates me, and what product would help?

What products would improve all mankind?

(TCO 5) What is a primary responsibility of individual employees in contrast to management in creating workplace motivation? (Points : 5)

Employees have the ethical obligation to find the motivation to do their job

Employees are required to accept positive reinforcement that is provided by management

Employees are responsible to help other employees meet their management objectives

It is the responsibility of employees to understand Maslow’s Hierarchy

(TCO 5) Electronic wireless technology continues its move toward ubiquity. Such media inculcates which of the following? (Select all that apply.) (Points : 5)

Sweepstakes promotional information

News and sports information

Client information
Company information

Competitor information

(TCO 5) You are an independent Internet marketing consultant. You have an excellent track record of assisting small- to medium-sized companies fully realize their marketing potential through an improved and enhanced presence on the Web. Mr. Top Hatt, the owner of a small pet-grooming salon (Hatt’s Cat Grooming Emporium), specializes in the care and grooming of cats and only cats and has just called you. Mr. Hatt has heard of the Internet but doesn’t know much else. He would like for his cat grooming business to grow by using the Internet but doesn’t know what to do. Your recommendations include which of the following? (Points : 5)

Building and improving relationships with customers

Online advertising to get potential customers to the website

Announcing weekly sales promotions so customers will make a purchase

Infomercials provided via video streaming to the Web

Printable discount coupons printed right from the website

(TCO 5) In this digital age, setting up shop online is vital for most retail businesses. But having only an online presence that customers can access at home isn’t enough anymore. Now consumers have an array of smartphones and digital tablets that can get them online from anywhere. For social networks and retailers alike, the mobile market has already enjoyed tremendous growth. Given this information as a sales manager for Always Better Car Sales (ABCS), your concerns include which of the following? (Points : 5)

Migrating to the mobile medium shouldn’t be a problem

Making the leap from laptop to touchscreen is an option at this stage of your efforts

Social media is one option to enter the mobile market

Using a service such as a mobile commerce platform is an option

Economists estimate that as much as 51% of the total consumer spending may go through social networking sites

(TCO 6) The relationship between a PERT chart and a Gantt chart includes which of the following? (Points : 5)

A Gantt chart is used for forecasting sales

A PERT chart is used for measuring progress

They are both considered to be control-procedure monitors

Both use a critical path to delineate the flow of materials

A PERT network can be made up of thousands of events over many months

(TCO 6) Which does a mission statement address? (Points : 5)

A company’s organizational philosophy

A company’s organizational psychology

A company’s organizational efficacy

A company’s organizational phenomenology

A company’s organizational social responsibility
(TCO 6) Imagine a world that is populated by 9 billion people. In order to maintain our current quality of life, such a world would require 2.3 planets’ worth of resources. In order to sustain the U.S. way of life, businesses and the government must plan for 30% more people living across the globe. Most of those people will be in developing countries, and the demand will be great for energy, food, and healthcare. Your concern is that you and your production team have been asked by your leadership to create a scorecard to measure your firm’s efforts in sustainability. Your team’s scorecard should necessarily include which? (Points : 5)

Water use

Recyclables

Waste

Greenhouse gases

Information technology

(TCO 6) Mining Group Gold is a team process that includes a method for processing and analyzing which? (Select all that apply.) (Points : 5)

Feelings

Facts

Solutions

Falsities

Paradoxes

(TCO 7) Financial accounting includes which one of the following? (Points : 5)

The preparation and distribution of an a periodic report

A summarization of the costs of production

The preparation of departmental budgets

Compliance with the Financial Accounting Standards Board (FASB) guidelines

Reviewing and evaluating the information used to prepare a company’s financial statements

(TCO 7) Imagine that you have just earned your business degree and have been hired as a hospital administrator at a small hospital that, like many others, is experiencing financial problems. A suggestion that you would make to help improve the financial position of the hospital and correct the financial problems is to (Points : 5)

Improve the efficiency of the hospital’s cash management system

Use a carefully planned lawn care service

Continue the hospital’s large stockpile of drugs

Cease using a just-in-time inventory system

Use a carelessly planned inventory control system

(TCO 7) A cellular or modular layout can accommodate changes in design or customer demand. This includes which? (Points : 5)

Not necessarily a strictly linear approach

Scheduling work operations

Different customers with similar needs

One station in the factory sending completed items to two or more next stations

Processes that are used to produce large quantities of a few types of products

(TCO 7) Some of the characteristics of lean systems include which of the following? (Points : 5)

They take twice the human effort

They have the same defects in the finished product

They require half of the engineering effort

They use half the floor space for the same output

They carry 50% more inventory

(TCO 7) Mass customization means (Points : 5)

Tailoring products to meet the needs of a large number of individual customers

Fewer and fewer manufacturers are learning to customize their products

Manufacturing companies may become service companies over time

More and more manufacturers are learning to customize their products

Operations management concepts are not applicable to the service sector

(TCO 8) If there is one thing that advertisers agree upon, it is the growing importance of social media in product promotion. Given this information, (Points : 5)

Investing in social media hinders a company in reaching its goals

Social media needs to work hand in hand with other channels

Social media reaches old audiences that have new devices

Nontraditional audiences are the new target for social media

Social media and direct mail are complementary to one another

(TCO 8) One scarce item in the future will be water. Which is the least expensive way to get water from places of abundance to places of need? (Points : 5)

Pipeline transmission
Air transportation

Truck transportation

Ship transportation
Train transportation
(TCO 8) The marketing manager is responsible for choosing how to implement which? (Points : 5)

Product

Place

Promotion

Profit

Price

(TCO 9) Technology can provide significant increases in productivity and efficiency. However, less than stable technology-based systems can significantly impact businesses at the most inopportune times. Issues that are inadvertently and unexpectedly created in such instances include which? (Points : 5)

Overly complex software

Loss of client and customer confidence

Decrease in sales revenue

Interruption of shipments

Overly complex networking equipment

(TCO 9) Collaboration software allows multiple users to work on the same document at the same time. It also facilitates videoconferencing so that participants can see and hear each other regardless of where they are. The advantage of using such software is which? (Points : 5)

A single location for the information being edited and saved

Multiple copies of the information so backups are not necessary

The software being considered shareware and therefore not copyrighted

The software being considered public domain software and free for the taking

Multiple locations where the information is stored providing quick access

(TCO 9) Web 3.0 can be characterized by which of the following statements? (Points : 5)

It is known as the semantic web

It is known as the virtual world

It is known as the mobile web

It is known as the static web

It is known as the immersive Internet

(TCO 10) The role of information technology has changed since the days when it was known as data processing. You have been hired as the new manager of the IT department for Megalopolis Corporation. Megalopolis Corporation manufactures and sells barbecue grills to the middle-upper end of the market. Demand continues to be strong for all products. However, providing service (both warranty and no warranty) continues to be a challenge. In essence, having the right parts at the right place at the right time is not an easy task. Given this information, your set of “must-do-first” priorities includes which? (Points : 5)

Reviewing current operations in the IT department to determine processes that can be made more efficient

Exploring the possibilities of providing real-time manufacturing and shipping data to the expediters in the factory via handheld wireless devices

Reviewing the information that is gathered by the customer relations staff that might assist in improving existing customer relationships

Reviewing the ordering process (both warranty and nonwarranty) to streamline ordering and improve communications with suppliers and customers

Exploring new markets through an improved online presence of the company

(TCO 10) An accounting system includes which? (Points : 5)

Tax return information

Balance sheet information

Summarization of accounts information

Compliance information

Eleemosynary information

(TCO 10) Which of the following financial management functions are a part of financial planning? (Points : 5)

Understanding and allocating operational needs

Establishing a capital budget

Creating a long-term forecast

Establishing a strategic planning vision

Creating a short-term forecast

(TCO 2) Identify and discuss the social responsibilities of Home Depot to three different stakeholder groups. (Points : 15)

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(TCO 3) How do downsizing and outsourcing influence the number of small businesses? (Points : 25)

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Business start-ups often soar when the economy sours. During…

(TCO 3) Discuss the positive aspects of globalization, and contrast these with the negative aspects of globalization from the perspective of a small business. Be sure to address the pros and cons of outsourcing in your response. (Points : 15)

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(TCO 4) Identify the four Ps of marketing, and give an example how each of the four Ps can be used to market your favorite product or service. (Points : 25)

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(TCO 4) Identify and explain the incentives for entrepreneurship. Address why someone would willingly take the numerous risks associated with running a business. Also, discuss the major attributes necessary for a successful entrepreneur. (Points : 15)

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(TCO 5) Discuss the advantages and disadvantages of work specialization. (Points : 25)

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Work specialization can improve organizational efficiency by…

(TCO 5) Aside from retail sales and marketing, identify and discuss two ways that a business could reduce costs or increase profits by using the Internet or web applications.(Points : 15)

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(TCO 6) Businesses try to create systems that deliver goods or services to customers as efficiently as possible. This often involves multiple steps and systems that hopefully work together to accomplish that goal. Explain the systems perspective, and identify at least five principles of systems thinking that can improve your skills as a manager. (Points : 25)

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The seven principles of systems thinking that can help every manager are…

(TCO 7) What is a balance sheet? Why is it called a balance sheet? (Points : 25)

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A balance sheet is a statement of a firm’s financial position on a particular…

(TCO 7) Given the following companies—Boeing (airliner manufacturer) and Dell Computer (computer manufacturer)—which facility layout would be the most suitable for each? Justify your response. How would each company determine the location of its facilities? List the specific needs and requirements of each company when determining location. (Points : 15)

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(TCO 8) Identify the four Ps of marketing, and give an example how each of the four Ps can be used to market your favorite product or service. (Points : 15)

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Midterm Exam and Final Exam Answers to Study Guide – 36 Pages

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Midterm Exam Answers to Study Guide

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  1. Define importing and exporting.
  2. Explain free trade.
  3. Explain the difference between absolute advantage and comparative advantage.
  4. Explain business, goods, services, and revenue.
  5. Define and explain entrepreneurship.
  6. Explain economics and resource development.
  7. Summarize Adam Smith’s theory.
  8. Define and explain the various forms of business organization to include partnerships, franchising, and corporations.
  9. Define and explain international and global marketing.
  10. Explain the major concepts related to a small business startup to include business plans, venture capitalists, the SBA, the SBIC, and SCORE
  11. Know the elements of a business plan.
  12. Explain acquisition, LBO, and LLP.
  13. Explain corporate policy and corporate responsibility.
  14. Describe corporate social initiatives.
  15. Define ethics.
  16. Define CSR.
  17. Describe insider trading.
  18. Explain various interested stakeholders.
  19. List and explain the steps to be considered when determining the ethics of an action.
  20. Explain the differences between compliance- and integrity-based ethics codes.
  21. Define balance of payments and balance of trade.
  22. Describe common market, countertrading, and devaluation.
  23. Identify and explain WTO, SWFs, NAFTA, and FDI.
  24. Describe an embargo.
  25. Describe and explain trade surplus, deficit, tariffs, a strategic alliance, and a multinational corporation.
  26. Explain the steps to establish a new business.
  27. Describe an intrapreneur.
  28. Explain microloans and the management team.
  29. Describe and explain GDP, communism, depression, recession, and capitalism.
  30. Explain some of the reasons for the success and failure of small businesses.
  31. Describe the forms of business ownership; know how they are used and the advantages and disadvantages of each one.
  32. Describe a franchise, and know its advantages and disadvantages.
  33. Define a business merger.
  34. Describe the purpose of a limited liability company.
  35. Describe what advantages a small business may have when entering a foreign country’s market.
  36. Describe what the difference is between privately and publicly owned businesses.
  37. Describe the reasons why some people become entrepreneurs.
  38. Explain the steps that should be taken in the buying of a franchise.
  39. Describe and explain SCORE.
  40. Describe the aspects of a limited liability company.

Finals Exam Answers to Study Guide

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  1. Explain free market capitalism
  2. Describe and explain home-based entrepreneurial endeavors
  3. Explain how intermediaries perform the six marketing utilities
  4. Compare the business-to-business market and the consumer market
  5. Identify the new and traditional tools that make up the promotion mix
  6. Define and apply common economic indicators
  7. Define and discuss the ethical and social responsibilities of business
  8. Describe management’s role in setting ethical standards
  9. Describe and apply a business code of ethics
  10. Describe and explain the role of U.S. businesses in influencing ethical behavior and social responsibility in global markets
  11. Describe and explain sales law under the Uniform Commercial Code
  12. Define the elements of a contract
  13. Summarize several laws that regulate competition and protect consumers in the US
  14. Describe and explain the role of deregulation in the economy
  15. Discuss the changing landscape of the global market and the issue of offshore outsourcing
  16. Explain why nations trade
  17. Describe and explain the forces that affect trading in global markets
  18. Explain the advantages and disadvantages of trade protectionism
  19. Describe the role entrepreneurs play in the creation of jobs
  20. Explain why people take the risks of entrepreneurship; list the attributes of successful
  21. Analyze what it takes to start and run a small business
  22. Show how marketers use environmental scanning to learn about the changing marketing environment
  23. Explain how marketers apply the tools of market segmentation, relationship marketing, and the study of consumer behavior
  24. Discuss the four Ps of marketing
  25. Define marketing and apply the marketing concept to both for-profit and nonprofit organizations
  26. Show how word of mouth, e-mail marketing, viral marketing, blogging, podcasting, and mobile marketing work
  27. Contrast the advantages and disadvantages of various advertising media, including the Internet and social media
  28. Understand channel systems, and explain the various ways to build cooperation in them
  29. Describe and explain the four functions of management
  30. Relate the planning process and decision making to the accomplishment of company goals
  31. Describe the current state of U.S. manufacturing and what manufacturers have done to become more competitive
  32. Describe and explain planning issues as they relate to a firm’s operations, including its employees
  33. Show how managers put motivation theories into action through such strategies as job enrichment, open communication, and job recognition
  34. Show how managers personalize motivation strategies to appeal to employees across the globe and across generations
  35. Describe the various production processes, and describe techniques that improve productivity
  36. Describe and explain how to use a PERT chart and a Gantt chart
  37. Explain how flexible manufacturing is used
  38. Describe and explain when to use lean manufacturing
  39. Explain how mass customization can be used
  40. What are ERP and MRP?
  41. How does vision apply to business?
  42. Explain and apply facility location and layout to business
  43. Describe the four eras in the evolution of marketing
  44. Describe and explain the role of marketing managers and the marketing mix
  45. Describe the marketing research process
  46. Describe logistics and outline how intermediaries manage the transportation and storage of goods
  47. Describe business-to-business marketing (B2B) and the business-to-consumer sales process
  48. Describe and explain how social media complements other promotions, including promotional strategies
  49. Describe and explain social media and Web 2.0
  50. Describe and explain privacy issues and stability issues as they apply to information networks
  51. Describe some of the common types of information used by business
  52. Describe and explain how information is managed
  53. Explain knowledge management and how it can be applied in a business setting
  54. Describe the types of computer software most frequently used in business
  55. Describe and explain business intelligence and how it is changing business
  56. Describe and explain virtualization and cloud computing
  57. Explain the different accounting disciplines
  58. List, describe, and apply business financial statements (income statement, balance sheet, statement of cash flows)
  59. Describe the roles and responsibilities of financial managers
  60. What are the finance concerns for small businesses
  61. List the types of financial budgets

BUSN 115 Intro Business Technology Entire Course

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