BUSN115 Course Discussions Week 1-7

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BUSN115 Course Discussions Week 1-7
Do laws and regulations always restrict or impede the efforts of business professionals, or can they…

 

 

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BUSN115 Course Discussions Week 1-7

BUSN115 Course Discussions Week 1-7

Posted by All Students – 72 Pages 

Discussions Week 1 All Students Posts – 18 Pages

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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?

I believe the laws and regulations can have both effects on a business, For example they can help a business because it can serve as a protection for your company, Having a patent and trademark on your business provides heavy fines and subject to civil actions that can be costly to the defendant in a court case. On the other hand I did a little research online and found out on investapedia.com that several publicly traded corporations have misstated earnings to maintain or boost the market price of their stock. For example pharmaceutical companies have complained that the Food and Drug Administration withholds approval and subsequent marketing of certain drugs pending extra or more clinical trials, when these drugs have already proven to be effective this i found very interesting guys…

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.

While free enterprise comes with risks, entrepreneurs should weigh out these risks and have knowledge of how it can affect their businesses. Therefore, I do not feel society has an obligation to come to the aid of entrepreneurs who try but fall. Enterprises that have gone into business and accepted the risks gets involved, should also accept the consequences that come with failure. In order for companies to make quality decisions, they must always take responsibility and not pass on the bill to their consumers. Furthermore, to minimize the risk of failure, entrepreneurs need to analyze all risks thoroughly, be it market trends, environmental changes, economic shifts, or other brand competitions. Also, I feel businesses should have a cash reserve or some sort of insurance to cover possible failures…

Discussions Week 2 All Students Posts 18 Pages

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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?

According to Bovee and Thill, a company can use their licensing agreements to enter world markets because it is an agreement to produce and market another company’s product in exchange for a royalty or fee.

There are two main strategies that a company will implement when selling their products in the global market place. The first is functional strategies, it involves things such as products, customer support, promotion, pricing and staffing. The second main strategy is organizational strategies. This includes multidomestic strategy, a decentralized approach in which a company creates highly independent operating units in each country. Global strategy, a highly centralized approach with headquarters in the home country making major decisions. Lastly, transnational strategy, a hybrid approach that attempts to reap the benefits of international scale while being responsive to local market dynamics…

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?

It is ethical to benefit from their efforts to practice CSR because, according to Bovee and Thill, it can be seen as a way for the company to help itself and the society at the same time. For example, a company can help develop the workforce, and also help develop markets for its goods and services.

Some ways that people can be sure that CSR efforts aren’t just public relation ploys is to see that a company takes responsibility for the consequences of their actions and limit the negative impact of their operations. Also, a society has a right to expect a basic level of responsible behavior from all businesses, including minimizing pollution and waste, being honest with all stakeholders, and avoiding exploitation of employees, customers, suppliers, and communities…

Discussions Week 3 All Students Posts – 7 Pages

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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?

There are many advantages to buying a business rather than starting a new one from scratch, First and foremost, you do not have to go through the process of trying to find a perfect location for the business. In addition, there will already be a staff on hand so trying to find good, reliable employees would not be an issue. Lastly and most important, there will already be an existing customer base; then your job is simply to bring in more customers and maintain the current revenue and of course exceed it! Now there’s owning a independent business and there’s owning a franchise. There are also advantages to owning a franchise as well as some disadvantages. Some advantages to owning a franchise is the strength of the brand, loyalty of the existing customers, and marketing support from the franchisor. On the other hand, the disadvantages are the dependency on the franchisor’s success and the restriction of making the business represent you as the owner; there are strict contracts in place to make sure an individual owner does not change the overall culture of the business at the location; it has to stay consistent with the brand as a whole…

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?

No, I would not consider myself an early adopter; I usually do not care to get new products as soon as they come out. I typically have a wait and see attitude because I want to make sure that I want to buy an item and not rush to spend a lot of money on it. For example, while everyone was getting the new iPhone 6, I was still happy and content with my iPhone 4 . The only reason I moved up to a six was because my contract was up and I was able to.  Another example is that I don’t buy into trends. When I shop for things, I will look for what I want to buy, not what the hot new trend is. My attitude toward new products doesn’t really influence my decision making because If I have money at the time to get something I will. Thankfully I have not made any big purchases yet but when I am older I plan to carefully think about what I am buying and doing extensive research to make sure this is an item I need/want…

Discussions Week 4 All Students Posts – 8 Pages

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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?

One of the latest big purchases I made was for my iPhone. I’ve heard personal reviews on the phone, I have also bought several previous versions of the phone and I own an iPad as well. I saw some advertising showing some of the new features on the new phone and didn’t need much probing after that. I have always loved this brand and can see myself owning it for a long time. I didn’t need much motivation to get this phone. I have to say I did not feel any guilt buying the phone, especially since I didn’t pay the cost up front, but I’m paying it off in payments. What really moved me to get the plus is the fact that it…

BUSN115 Course Discussions Week 1-7

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?

Our privacy is definitely being violated when we visit websites. I notice when I visit websites and later I’m browsing Facebook, there will be all kinds of ads for the types of products I was browsing previously on other sites, for example, I was looking for a bunk bed for my son, suddenly I get all kinds of adds for children’s beds popping up on my facebook page. This has happened for shoes, pet insurance, makeup, etc. So, in response to your question, the internet is definitely an invasion of privacy…

Discussions Week 5 All Students Posts – 10 Pages

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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?

Theory X and the autocratic leadership style are more of a distrusting and pushy style and theory in which it seems the employees aren’t trusted and the belief is they don’t care for their jobs, whereas the democratic and laissez faire leadership styles and theory Z have more trusting, lenient, and caring opinions of their employees. It seems the latter believes the employees have a right to some type of decision making level, as well as they welcome and value the thoughts and opinions of employees, instead of solely the leadership team’s traditional decision making roles…

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?

First, I choose a good base wage so that there will be no problem financially while I’m working and paying for my bills. Second is rapid advancement opportunities that will make me very hardworking for reaching my goal in life and to be a successful employee. Lastly is good healthcare insurance coverage. Health coverage protects you from health and financial risks. If you don’t have a good health insurance you don’t get those important benefits, which can identify disease early and support good health…

BUSN115 Course Discussions Week 1-7

Discussions Week 6 All Students Posts – 6 Pages

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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?

By utilizing different SCM strategies and systems a company can raise there output and efficiency while doing so in a timely manner. By using an inventory system which records the inputted products, prices and then sends out a purchase order (PO) for low inventory items automatically it can help the efficiency and responsiveness of the company. This way customers are not waiting to purchase the product and being tempted to go elsewhere.  By utilizing a good inventory system software and a procurement system web based software that checks inventory and sends information to you regarding your needs a company can improve their supply chain…

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?

Yes, technology can definitely help answer why there was a decrease in sales. There are many technologies that can help solve this problem. I would utilize a technology based inventory system that has the products and prices in a computer software system. This would better track what is being sold and at what price. I would also have a physical list as well to create a checks and balances system to make sure both are the same. I would install surveillance cameras in the store and by the cashier station to monitor customers and employees in the case if the inventory lists do not match. I would also implement a retail system on the website for customers to be able to purchase products online…

BUSN115 Course Discussions Week 1-7

Discussions Week 7 All Students Posts – 5 Pages

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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?

A few other services, asides from traditional services, that the firm could offer to its clients would be to provide other management consulting service, along with evaluate their product performance, analyze profitability by customer and product groups and design and install new computer systems. This would, however, possibly create challenges of having to locate new accountants that have a strong business background in order to be able to specialize in offering these new services. They might also want to make sure someone in the firm is specialize in cost accounting, financial analysis and /or forensic accounting to help them with some of the above mentioned services and other valuable services for their clients…

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?

Even though money isn’t an issue right not, it has the potential to become the cause of a project’s failure pretty quick! Despite the fact that the other cofounders aren’t concern about the budget, I would definitely started monitoring money on a small scale until the financial executive comes abroad. Moreover, if the cofounders are doing other projects and handling other business matters outside of what you guys have going on together, they can directly blame you if the project budget exceeds the plan. Lastly, I would also start monitoring the budget very closely and provide my cofounders with consistent updates on money spent and money left to spend…

BUSN115 Course Discussions Week 1-7

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