Discussion questions
1. "The History of Business" Please respond to the following:
• Discuss how the factors of production (natural resources, capital, human resources and entrepreneurship) have changed throughout the four eras of business.
• Analyze the four eras of business and make a prediction for what the next era will be like. Explain the rationale behind your prediction.
2.Top of Form"The Business Environment" Please respond to the following:
• Select a company or organization with which you are familiar and determine which of the five dimensions of the business environment has the biggest impact (either positive or negative) on that company/organization. Explain the rationale behind your response.
• Anticipate how technology will transform business in the future. Give specific examples to support your response.]
3.Top of Form"Free Trade" Please respond to the following:
• Determine if the benefits of free trade outweigh the drawbacks, and what could be done to address the drawbacks (if anything).
• State whether you believe fair trade is a fad or a trend. Provide support for your reasons.
4.Top of Form"Free Choice" Please respond to the following:
• Select an industry of your choice and determine how ethical behavior and social responsibility could benefit such an industry. Give specific examples to support your response.
• Determine where corporate responsibility ends and personal responsibility begins. Give examples of at least three industries to illustrate your response.
5. "Business Communication" Please respond to the following:
• Select a company with which you are familiar and determine where that company may fall short in terms of communication. Provide specific examples of how these issues could negatively affect the company's bottom line.
• Create a list of best practices customized to your own style of communication in a business setting. Give specific examples of how you could apply the tips and principles in Chapter 5 to become a better communicator.
6.Top of Form222"Business Formation" Please respond to the following:
• Imagine yourself starting your own business. Briefly describe your company and determine which business ownership option would be most appropriate. Explain your rationale.
• Imagine your business has grown to $3M+ in sales and 50+ employees. Determine if another form of ownership would be more appropriate. Explain the reasoning behind your decision.
7."Entrepreneurship" Please responds to the following:
• Identify which of your interests you could shape into a business opportunity. Be sure to think big. For instance, if you love being with friends and listening to music, a club promotion business might make sense for you. Identify and discuss the steps you would need to take over the next few years to make your "dream business" real.
• With your "dream business" in mind, determine what major obstacles you would face and how those obstacles might be addressed. Provide specific examples.
8."Accounting Practices" Please respond to the following:
• Discuss whether or not you think ethical accounting practices are equally important for both public and private companies.
• Discuss the importance of having a proper accounting system in place and why it is important to understand financial statements
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9."Finance" Please responds to the following:
• Refer back to your "dream business" from Week 5. Determine the best way to finance the launch of your new company. Explain your rationale.
• Once you have your company up and running, discuss the major tools you will use to track your company's progress and plan for the future. Provide specific examples to support your response.
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10."Securities Markets" Please respond to the following:
• Review the ways in which markets are regulated and determine what additional steps could be taken to establish more confidence in the market. Give specific examples of how the additional steps would help.
• Analyze the strategies investors use to invest in securities and determine which would be most advantageous to you at this stage in your life. Explain your rationale.
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11."Marketing" Please responds to the following:
• Refer back to your "dream business" from Chapters 5 and 6. Briefly outline the basics of a marketing strategy for your product or service.
• Discuss the types of marketing research you would conduct in preparation for taking your company global.
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12."Product and Promotion" Please respond to the following:
• Again with your "dream business" in mind, briefly describe how you would differentiate your product or service from others in the market.
• Briefly describe how you would promote the product or service your "dream company" provides.
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"Distribution and Pricing" Please respond to the following:
• Discuss the various ways that distribution adds value (or utility) to a product or service, the impact that wholesalers and retailers have on that value, and how it can be used as a competitive advantage.
• As you market yourself to employers, the salary you demand is essentially your personal price. Keeping that in mind, determine the pricing strategy should you follow (penetration, skimming, or competitive). Explain your rationale.
14."Management, Motivation, and Leadership" Please respond to the following:
• Refer back to your "dream business". Determine how you would keep your employees motivated to do the best job they could. Provide specific examples to support your response.
• Determine the key elements of leadership you would need to be successful in your business venture. Explain your rationale.
15. "HR Practices" Please respond to the following:
• Some recent studies indicate that nine out of ten employers observe the electronic behavior of their employees, from tracking their Web-surfing habits to implanting GPS tracking chips in their arms. Discuss whether managers are justified in monitoring employees to this degree.
• Demonstrate how each element of human resource strategic planning supports the other elements through a (brief) scenario showing the likely consequences if one element is mishandled.
16.Top of Form"Salary Range" Please respond to the following:
• After reviewing the range of earnings across various jobs on salary.com, it should be clear that income disparity in our economy is considerable. Explain whether or not you believe that the degree of variation is justified. Explain your rationale.
• Progressive income taxes (the more you earn, the more you pay) are designed in part to reallocate earnings. Does the approach seem fair? Explain your answer.
17.Top of Form"Information Technology" Please respond to the following:
• Predict how technology will positively impact business over the next ten years. Describe what specific changes or paradigm shifts you expect to see.
• Within the same 10-year period, discuss the additional challenges and concerns you see arising from the implementation of new technologies.
18."Operations Management" Please respond to the following:
• Review the major responsibilities of the operations manager and determine which responsibility is the most challenging. Assess and discuss your ability to succeed in this type of position.
• Discuss the ways that operations managers and (and operations management) adds value to a company's products or services. Determine which single activity adds the most value. Explain your rationale.