BUSN 115 Introduction to Business and Technology

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BUSN 115 Introduction to Business and Technology
You have decided to open a lemonade stand in your local neighborhood.  You have grand…

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BUSN 115 Introduction to Business and Technology

BUSN 115 Introduction to Business and Technology

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

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Lemonade Stand Part I Assignment Week 3

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Scenario

You have decided to open a lemonade stand in your local neighborhood.  You have grand plans for this stand and expect to attract many customers.  In part I of this assignment, you will develop the basic premise of your new company.   Please answer the following questions, utilizing the textbook, to ensure you apply the lesson we have learned in the previous weeks.

  • Develop a creative name for your Lemonade Stand, and then explain why a name is important when you are considering branding options?
  • Create a Mission Statement for your Lemonade Stand (Chapter 7); then explain why a mission statement is important for any company?
  • You are very involved in your community; please outline your CSR plan (Chapter 4) for your business.
  • The textbook lists many different types of pricing strategies, please pick one of these and explain how you will deliver on this strategy with your stand. (Chapter 14)
  • Even though you only sell to local customers, you understand that you could package your lemonade and sell it online globally. Evaluate whether or not the company should go global by creating an online presence and selling your lemonade online (Chapter 3).

Activity

You are to write roughly 750 words in answering all questions posted above for your Lemonade Stand.  (Please note:  you may list the questions in your paper and answer these in a step by step process, but the word count will only apply to your written words).

The paper needs to be written in an APA format and should have at least your textbook listed as a scholarly source in your bibliography.   Please view the APA tutorial in your syllabus for more on how to format your paper. Your paper should include a cover page and running header as stipulated by APA formatting…..

Preview:

For a number of people, their initial foray into business was through a lemonade stand they put up with friends or family when they were…

Lemonade Stand Part II Assignment Week 5

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Scenario

In week 3, you created a lemonade stand that you opened in your local neighborhood; you created a name, developed a mission statement, outlined a CSR plan, and picked a pricing strategy for this new company. This week you will continue to develop your idea by writing an informal business report that will share your plans with a potential business investor.   A report template is available in Doc Sharing to guide you through formatting of this assignment; however, the main prompts you should address in the report include:

  • Branding strategy. In Part I, you decided part of the brand when you developed your pricing strategy.   Continue with the other parts of the marketing mix (Place, Promotion, and Product), and discuss how the lemonade stand should be branded utilizing this marketing mix (Chapter 14).
  • Opportunities for new locations. Your stand in your neighborhood has been very successful and you are considering expanding operations.   In doing so, you will need to outline some criteria for potential new locations (Chapter 15).
  • Promotion plans. You have a $ 10,000 budget to promote your stand in the local community.  Please outline two or three ways you could promote this business (please include costs involved in these promotions) (Chapter 16).
  • Employee Training. You have hired several people to run your lemonade stand, as you simply are too involved in the strategic aspects of the business.   As such, you have seen sales drop.   What are some ways you can motivate your employees to improve sales?  (Chapter 10)

Activity

Once you have considered the points above, please provide responses and explanations using the template provided in Doc Sharing (titled “Lemonade Stand Informal Business Report”).  Utilize your textbook and apply the lessons we have learned in previous weeks to develop and support your plans.  By offering support and developing your response, you must provide examples, elaboration, or justification, often in the form of information gathered from your textbook.  When integrating support from your textbook, be sure to use APA style to provide in-text citations within the paragraph and a full end reference on a separate Reference Page after the Business Plan.  Examples of APA formatting are included in the template.

You are to write roughly 500 – 750 words in answering all points posted above for your Lemonade Stand…

Preview:

The company, John’s Lemons, is a lemonade stand engaged in the beverages business. Specifically, the company’s products are lemonades made up of lemon, sugar, water, and…

John’s Lemons goal is to reach as many customers as possible as it aims to address the changing lifestyle choices…

Quiz Week 2

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(TCO 1) A(n) _____ is a framework of how a business intends to generate revenue. (Points : 5)

Business model

Strategic management tool

Profitability analysis

Competitive advantage

Entrepreneurial mindset

(TCO 1) The _____ function of an organization coordinates the incoming flow of materials and the outgoing flow of finished products. (Points : 5)

Finance

Logistics

Human resource

Purchasing

Sales

(TCO 1) _____ audit the financial reports of public companies as required by law. (Points : 5)

Internal accountants

External auditors

Credit managers

Management accountants

Forensic accountants

(TCO 1)  _____ is defined as having two consecutive quarters of decline in the country’s gross domestic product. (Points : 5)

Deflation

Stagnation

Immobilism

Stagflation

Recession

(TCO 1) _____ unemployment is the natural movement of workers into and out of jobs, such as when a person quits one job without first lining up a new job. (Points : 5)

Structural

Intrinsic

Frictional

Cyclical

Seasonal

(TCO 1) ________ taxes, levied on the earnings of individuals and businesses, are the government’s largest single source of revenue. (Points : 5)

Income

Property

Sales

Excise

Payroll

(TCO 1) _____ is the process of influencing and motivating people to work willingly and effectively toward common goals. (Points : 5)

Organizing

Leading

Planning

Directing

Controlling

(TCO 1) In order to be effective, a business goal should be _____. (Points : 5)

Broadly defined

Measurable

Time unlimited

Remotely defined

Substantially high

(TCO 1) The first step in managing organizational change is _____. (Points : 5)

Monitoring continued progress of the change effort

Identifying the need for change

Reinforcing the changed behavior

Analyzing the forces acting against the change

Choosing the technique to be used in instituting the change

(TCO 2) An embargo is a _____. (Points : 5)

Quantity restriction on the import of particular goods or services

Surcharge imposed on the import of certain products

Subsidy offered to products exported from a country

Complete ban on the import or export of certain products

Form of financial assistance extended to domestic producers

(TCO 2) The _____ was established to foster international financial cooperation and its primary functions include providing short-term loans to countries that are unable to meet their financial obligations and working to alleviate poverty in developing economies. (Points : 5)

World Trade Organization

World Commerce Center

European Union

North American Free Treaty

International Monetary Fund

(TCO 2) _____ refers to buying goods or services from a supplier in another country. (Points : 5)

Franchising

Importing

Licensing

Partnering

Intermediating

(TCO 2) The use of unpublicized information that an individual gains from the course of his or her job to benefit from fluctuations in the stock market is called _____. (Points : 5)

A code of ethics

Whistle-blowing

Insider trading

Utilitarianism
strategic CSR

(TCO 2) Which of the following statements is true regarding whistle-blowing? (Points : 5)

Whistle-blowing is the normal channel through which employees can address issues involving unethical or illegal behavior within their companies.

Whistle-blowing refers to the use of unpublicized information that an individual gains from the course of his or her job to benefit from fluctuations in the stock market.

Whistle-blowing occurs when employees share confidential company information with external agents for personal gain.

The federal and state laws governing whistle-blowing are simple and clear, so that they can be easily used by employees and employers to navigate through.

Although whistle-blowing is sometimes characterized as “ratting on” colleagues or managers, it has an essential function.

(TCO 2) Which of the following approaches to resolving ethical dilemmas advocates choosing the option that delivers the most good for the most people? (Points : 5)

Individual rights

Utilitarianism

Strategic CSR

Sustainable development

Kantian ethics

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

Quiz Week 6 

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(TCO 5) A diagram that shows how employees and tasks are grouped and where the lines of communication and authority flow is called a(n)_____. (Points : 5)

Positional depiction

Matrix structure

Network structure

Organization chart

Functional chart

(TCO 5) Another term for work specialization is _____. (Points : 5)

Virtual organization

Chain of command

Span of management

Division of labor

Organizational structure

(TCO 5) In a furniture factory, one worker cuts the wood according to the design, another worker glues and screws the pieces together, and another worker stains and polishes the wood. This is an example of _____. (Points : 5)

Core competencies

Decentralization

Work specialization

Chain of command

Centralization

(TCO 5) Ace Inc., an American multinational computer software company, has a large number of hierarchical levels. Each manager is responsible for a few employees and maintains a tight control on them. At Ace Inc., the time taken to make decisions is very high, as each decision needs to go through numerous management layers. Which of the following statements is true about the organizational structure of Ace Inc.? (Points : 5)

Ace Inc. has a narrow span of management

Ace Inc. is a flat organization

Ace Inc. lacks work specialization

Ace Inc. is a decentralized organization

Ace Inc. encourages employees to form self-managed teams

(TCO 5) _____ proposed a model that divides motivational forces into satisfiers (“motivators”) and dissatisfiers (“hygiene factors”). (Points : 5)

Douglas McGregor

Abraham Maslow

David McClelland

Frederick W. Taylor

Frederick Herzberg

(TCO 5) Justin M. Brown, the operations manager at Vernon Manufacturing Company, formulated a strategy to motivate the firm’s employees. Justin addressed employees’ dissatisfaction by increasing their salary and incentives; he employed several industrial counselors to help employees deal with work-related stress; and improved the health insurance plan provided to employees. He also motivated employees by providing greater opportunity for advancement, recognizing employees who perform well and giving employees greater responsibility to foster a sense of achievement in them. Justin’s measures are based on which of the following approaches? (Points : 5)

McClelland’s three-needs theory

Theory X

Theory Y

Herzberg’s two-factor theory

Scientific management

(TCO 5) _____ connects an employee’s efforts to the outcome he or she thinks will result from those efforts. (Points : 5)

Maslow’s hierarchy

Herzberg’s two-factor theory

David McClelland’s three needs theory

Expectancy theory
Equity theory

(TCO 5) Research into equity theory has led to thinking about the broader concept of _____. (Points : 5)

Scientific management

Self-actualization

organizational justice

Intrinsic rewards

Self-efficacy

(TCO 5) The goal-setting theory of motivation suggests that _____. (Points : 5)

Setting goals is unrelated to motivation in most employees

Setting goals is an effective way to motivate employees

Managers, not employees, need to set goals

Collaborative goal setting can undermine managerial authority

Employees should set their own goals without input from managers

(TCO 5) IBM established executive-led task forces to represent women, Asian Americans, African Americans, Hispanic Americans, Native Americans, people with disabilities, and individuals who are gay, lesbian, bisexual, and transgender. This is an example of _____. (Points : 5)

Diversity initiatives

Horizontal integration

Ethnocentric policies

Decentralization

Deregulation

(TCO 5) Quality of hire measures _____. (Points : 5)

The amount of money spent in hiring and training new employees

The level of productivity of employees in the probationary period

How closely incoming employees meet the company’s needs

The percentage of minority groups in a firm’s workforce

The percentage of the workforce that leaves every year

(TCO 6) The sequence of activities that takes the longest time from start to finish in a PERT diagram is called the _____ path. (Points : 5)

External

Lagging

Minor

Critical

Buffered

(TCO 6) Polar Refrigerator Company reduces its inventory-carrying costs by having their vendors deliver materials right before they are needed in the production process. This is an example of _____ inventory management. (Points : 5)

Discounted

PERT

JIT

Buffered

Economic order based

(TCO 6) Jass Glass Studio has been hired to make a church window. A church hires the company to make ten windows based on a design provided by the church. This is an example of _____. (Points : 5)

Mass production

Batch production

Customized production

Mass customization

Standard production

(TCO 6) Dell Computers allows customers to place orders online. The company produces major parts using bulk production and allows customers to personalize such features as software, color, memory size, and screen size. This type of manufacturing is an example of _____. (Points : 5)

mass customization

mass production

customized production

mass manufacturing

batch-of-one production

BUSN 115 Introduction to Business and Technology

Discussions Weeks 1-7

Posted by ALL Students 684 Pages 2 Sets 

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Laws and Regulations | Entrepreneurship Failure | In What Manner is Wal-Mart Influencing America? | Can Social Entrepreneurship Succeed?

Discussions Week 1 All Students Posts 119 Pages 2 Sets 

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Laws and Regulations – 10 Pages 

Do laws and regulations always restrict or impede the efforts of business professionals, or can they actually help businesses? In addition to this, could you list some examples of laws or regulations that may have impeded business lately?

Entrepreneurship Failure – 8 Pages 

The risk of failure is an inherent part of free enterprise. Does society have an obligation to come to the aid of entrepreneurs who try but fail? Why or why not? Also, please discuss some ways you can minimize your risk.

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

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

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?…

Global Markets | Corporate Social Responsibility | International Trade or Stay Close to Home? | Industrialized Versus Developing

Discussions Week 2 All Students Posts 111 Pages 2 Sets 

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Global Markets – 10 Pages

How can a company use licensing agreements to enter world markets? What two fundamental product strategies do companies choose between when selling their products in the global marketplace?

Corporate Social Responsibility – 8 Pages

Is it ethical for companies to benefit from their efforts to practice corporate social responsibility? Why or why not? How can anyone be sure that CSR efforts aren’t just public relations ploys?

International Trade or Stay Close to Home? – 50 Pages

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

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?…

Starting a Business | Early Adopters | Socially Responsible? | Is it a Matter of Ethics?

Discussions Week 3 All Students Posts 75 Pages 2 Sets 

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Starting a Business – 4 Pages

What are the advantages of buying a business rather than starting one from scratch? What are the advantages and disadvantages of owning a franchise?

Early Adopters – 3 Pages

Do you consider yourself an early adopter when it comes to trying out new products or new fashions, or do you tend to take a wait-and-see attitude? How does your attitude toward new products and new ideas influence your decision making as a consumer?

Socially Responsible? – 35 Pages

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

Is it a Matter of Ethics? – 33 Pages

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?…

Purchasing Process | Advertising | Ethical Considerations | A Small Business and Social Media

Discussions Week 4 All Students Posts 93 Pages 2 Sets 

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Purchasing Process – 5 Pages

Think of a product you recently purchased and review your decision process. Why did you need or want that product? How did the product’s marketing influence your purchase decision? How did you investigate the product before making your purchase decision? Did you experience cognitive dissonance after your decision?

Advertising – 3 Pages 

Think about an advertisement (in any medium) that had either a strongly positive or strongly negative effect on your attitude toward the product being advertised or the advertiser itself. Why did the ad have this effect? If you responded positively to the ad, do you think you were being manipulated in any way? If you responded negatively—and you are a potential buyer of the product that was advertised—what changes would you make to the ad to make it more successful?

Ethical Considerations – 32 Pages

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 – Posts 53 Pages

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?…

Motivation | Benefit Choices | Communication: In a Promotional Way | Blogs, Podcasts, and Social Media

Discussions Week 5 All Students Posts 75 Pages 2 Sets 

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Motivation – 5 Pages 

Chapter 7 discusses several styles of leadership, including autocratic, democratic, and laissez-faire. How do each of these styles relate to Theory X and Theory Y assumptions about workers?

Benefit Choices – 5 Pages 

When you begin interviewing as you approach graduation, you will need to analyze job offers that include a number of financial and nonfinancial elements. Which of these aspects of employment are your top three priorities: a good base wage; bonus or commission opportunities, profit-sharing potential; rapid advancement opportunities; flexible work arrangements; good healthcare insurance coverage; or a strong retirement program? Which of these elements would you be willing to forego in order to get your top three?

Communication: In a Promotional Way – 30 Pages

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

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?…

Supply-Chain Management | Technology Improvement | What? Me!? A Manager?  | Workers and Robots: Fair and Equitable?

Discussions Week 6 All Students Posts 97 Pages 2 Sets 

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Supply-Chain Management – 3 Pages

How can supply-chain management (SCM) help a company establish a competitive advantage? What are ways that companies can improve their supply chains?

Technology Improvement – 3 Pages

Business is stalled. Sales last month were 10 percent less than the previous month and so far this month is looking even worse than last month. Could technology help you answer the decrease in sales? What technologies could you deploy to increase sales?

What? Me!? A Manager?  – 53 Pages

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? – Posts 38 Pages

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?…

Accounting Firm | Financial Control | Effects of Information Technology on Management | Financial Controls

Discussions Week 7 All Students Posts 88 Pages 2 Sets 

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Accounting Firm – 2 Pages

The senior partner of an accounting firm is looking for ways to increase the firm’s business. What other services besides traditional accounting can the firm offer to its clients? What new challenges might this additional work create?

Financial Control – 3 Pages 

The company you cofounded 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 cofounders 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?

Effects of Information Technology on Management – 50 Pages

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

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?…

Final Exam 

https://www.hiqualitytutorials.com/product/busn-115-final-exam/

(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)

https://www.hiqualitytutorials.com/product/identify-discuss-social-responsibilities/

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

https://www.hiqualitytutorials.com/product/downsizing-outsourcing-influence-number/

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)

https://www.hiqualitytutorials.com/product/discuss-positive-aspects-globalization/

(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)

https://www.hiqualitytutorials.com/product/identify-four-ps-marketing/

(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)

https://www.hiqualitytutorials.com/product/identify-explain-incentives-entrepreneurship/

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

https://www.hiqualitytutorials.com/product/advantages-disadvantages-work-specialization/

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)

https://www.hiqualitytutorials.com/product/aside-from-retail-sales/

(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)

https://www.hiqualitytutorials.com/product/businesses-try-create-systems/

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)

https://www.hiqualitytutorials.com/product/what-is-balance-sheet/

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)

https://www.hiqualitytutorials.com/product/companies-boeing-airliner-manufacturer/

(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)

https://www.hiqualitytutorials.com/product/identify-four-marketing-ps/

BUSN 115 Introduction to Business and Technology

DeVry