How will your experiences as an employee affect the leadership style you adopt when you become a manager?
> You’ve developed a reputation as an outstanding math tutor, and you want to turn your talent into a full-time business after graduation. How will you address the challenge of scalability in your new venture?
> If 30 percent of the patrons eating at your restaurant say they won’t eat there again, what steps would you take to define the problem(s) that needs to be solved, measure the relevant performance variables, and then analyze the root cause of the problem(
> Business is booming. Sales last month were 50 percent higher than the month before, and so far, this month is looking even better than last month. Should you hire more people to accommodate the increase? Explain your answer.
> Ethical Consideration. How does society’s concern for the environment affect a company’s decisions about facility location and layout?
> Why might a service business be more selective than a goods-producing business regarding the customers it pursues or accepts?
> How does perishability affect the delivery of services?
> How can supply-chain management (SCM) help a company establish a competitive advantage?
> Why do some firms now think in terms of value webs instead of value chains?
> Why is important for companies to decide on their core competencies before choosing an organization structure?
> What are the advantages and disadvantages of the unstructured organizational model?
> What are the advantages and disadvantages of functional departmentalization?
> What are the advantages and disadvantages of work specialization?
> What are the characteristics of tall organizations and flat organizations?
> What is an agile organization?
> Concept Integration. Chapter 7 discussed several styles of leadership, including autocratic, democratic, and laissez-faire. Using your knowledge about the differences in these leadership styles, which style would you expect to find under the following or
> How does the offshoring controversy reflect the larger question of balancing the competing demands of stakeholder groups?
> Concept Integration. One of your competitors has approached you with a merger proposal. The economies of scale would be terrific. So are the growth possibilities. There’s just one issue to be resolved. Your competitor is organized under a flat structure
> You’ve recently accepted a job as the U.S. sales manager for a German manufacturing company. One of your first assignments is serving on a virtual problem solving team with colleagues from Germany, France, Japan, and South Korea. Budgets are tight, so yo
> You are the leader of a cross-functional work team whose goal is to find ways of lowering production costs. Your team of eight employees has become mired in the storming stage. The team members disagree on how to approach the task, and they are starting
> Ethical considerations. A company executive accidentally emailed you a confidential spreadsheet with the salaries of all the employees in the company. You took only a quick peek before deleting it, but you looked long enough to discover that other manag
> How can companies benefit from using virtual teams?
> What can managers do to help teams work more effectively?
> How can a virtual organization reduce costs?
> Why is cognitive intelligence alone insufficient for effective leadership?
> Why are interpersonal skills important to managers at all levels?
> How does leadership differ from management?
> Review the “Loss of Meaning and Connection” bullet point on page 191 in the discussion of the potential challenges of unstructured organizations. If you were planning to launch an unstructured organization, what steps could you take to help ensure that a
> What is the goal of crisis management?
> What is forecasting, and how is it related to the planning function?
> What is management? Why is it so important?
> What is the principal difference between a business plan (as discussed in Chapter 6) and a strategic plan?
> Using Welch Allyn’s mission statement on page 150 as a model and the material you learned in Chapter 4, develop a mission statement that balances the pursuit of profit with responsibility to employees and community. Choose either a manufacturer of musica
> You’re the youngest person in your department, and you just got promoted to department manager? What steps could you take to make sure all your employees have confidence in your management and leadership?
> Which would be more difficult to forecast 10 years from now: the number of 60 year-olds or their average disposable income? Why?
> Ethical considerations. Apart from meeting the company’s future talent needs, do managers have a personal ethical obligation to help their employees develop and advance in their careers? Explain your answer.
> Why are coaching and mentoring effective leadership techniques?
> How do autocratic, democratic, and laissez-faire leadership differ?
> What are some possible benefits and risks of having teams compete against each other, such as having the sales teams from various regions compete to add the newest customers?
> Who provides the leadership in a self-managed team or other organizational unit without an appointed manager? Explain your answer
> Why is the entrepreneurial spirit vital to the health of the national economy?
> What is a business incubator?
> What are the key reasons for most small-business failures?
> What are the advantages and disadvantages of owning a franchise?
> What are the advantages of buying a business rather than starting one from scratch?
> What are three essential functions of a business plan?
> Concept Integration. Pick a local small business or franchise that you visit frequently and discuss whether that business competes on price, speed, innovation, convenience, quality, or any combination of those factors. Be sure to provide some examples.
> Concept Integration. Entrepreneurs are one of the five factors of production discussed. Review that material and explain why entrepreneurs are an important factor for economic success.
> 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 c
> What is the difference between a general and a limited partnership?
> What factors should you consider before selecting financing alternatives for a new business?
> Could writing a conventional business plan every cause more harm than good? Explain your answer?
> Do you expect the number of entrepreneurs in the United States will grow in the next 10 years? Why or why not?
> Why is it advisable for partners to enter into a formal partnership arrangement?
> What is the role of a company’s board of directors?
> What is a closely held corporation, and why do some companies choose this form of ownership?
> How does unlimited liability put a business owner at risk?
> What are the three basic forms of business ownership?
> Concept Integration. You’ve developed considerable expertise in setting up new manufacturing plants, and now you’d like to strike out on your own as a consultant who advises other companies. However, you recognize that manufacturing activity tends to exp
> How does the quality of business management affect society as a whole?
> Suppose you and some friends want to start a business to take tourists on wilderness backpacking expeditions. None of you has much extra money, so your plan is to start small. However, if you are successful, you would like to expand into other types of o
> Why might two companies choose to form a strategic alliance rather than pursue a merger or an acquisition?
> How might a company benefit from having a diverse board of directors that includes representatives of several industries, countries, and cultures?
> To what extent do shareholders control the activities of a corporation?
> Why can’t legal considerations resolve every ethical question?
> What is identity theft, and what responsibility do businesses have to prevent it?
> How are businesses responding to the environmental issues facing society?
> What is the difference between defensive and proactive CSR?
> What is a conflict of interest?
> How does ethics differ from corporate social responsibility?
> Is “I don’t like having a boss tell me what to do” a good reason to start your own company? Explain your answer.
> Concept Integration. Is it ethical for state and city governments to entice businesses to relocate their operations to that state or city by offering them special tax breaks that are not extended to other businesses operating in that area?
> If an employee leaves a company to work for a competitor, what types of knowledge would be ethical for the employee to share with the new employer and what types would be unethical to share?
> Based on what you’ve learned about corporate social responsibility, what effect will CSR considerations have on your job search?
> Would it be ethical for U.S. companies to boycott products made in exploitive, low-wage overseas factories if the employees in those factories are grateful to have their jobs? Why or why not?
> What effects have social media had on CSR?
> Why is it important for a company to balance its social responsibility efforts with its need to generate profits?
> How do individuals employ philosophical principles in making ethical business decisions?
> Why would a company choose to work through intermediaries when selling products in a foreign country?
> What is a floating exchange rate?
> What is protectionism?
> Given the risks involved in starting any company, should an aspiring entrepreneur investigate all possible failure scenarios and develop action plans to avoid these potential outcomes? Explain your answer.
> Discuss the five major environments in which every business operates. (1) Is it wise for cities and states to compete with each other to be more business friendly, specifically with regard to lower tax rates on businesses? Why or why not? (2) Even though
> What is the balance of trade, and how is it related to the balance of payments?
> What two fundamental product strategies do companies choose between when selling their products in the global marketplace?
> How can a company use a licensing agreement to enter world markets?
> Would a major shopping mall developer with experience all across Europe be a good strategic alliance partner for your fast-food chain’s first overseas expansion effort? Why or why not?
> How has your current employer or any previous employer been affected by globalization? For instance, does your company compete with lower-cost imports? (If you don’t have any work experience, ask a friend or family member.)
> Suppose you own a small company that manufactures baseball equipment. You are aware that Russia is a large market, and you are considering exporting your products there. However, you know you need to learn more about Russian culture before making contact
> Ethical Considerations. Is it unethical for a U.S. company to choose export markets specifically for their less-stringent consumer protection standards? Why or why not?
> How do tariffs and quotas protect a country’s own industries?
> What types of situations might cause the U.S. government to implement protectionist measures?
> How do companies benefit from forming international joint ventures and strategic alliances?
> Is it ethical for special-interest groups to engage in shareholder activism? Explain your answer.
> Why do governments intervene in the free-market system?
> Why might a government agency seek to block a merger or acquisition?
> What is the difference between monetary policy and fiscal policy?
> Does the United States have a purely free-market economy or a mixed economy?
> How does macroeconomics differ from microeconomics?
> Why is the economic concept of scarcity a crucial concept for businesspeople to understand?
> Concept Integration. What effect might the technological environment, discussed in Chapter 1, have on the equilibrium point in a given market?
