Question: When a company acts in an ethically

> Verizon Communications, Inc. is one of the world’s largest providers of communication services. The following information, taken from the company’s annual reports, is available for the years 2016, 2015, and 2014: Req

> a. What are the major elements of design planning? b. Define capacity. Why is it important for a manufacturing business or a service business? c. What factors should be considered when selecting a site for a new manufacturing facility? d. What is the obj

> Is operations management relevant to nonbusiness organizations such as colleges and hospitals? Why or why not?

> Do certain kinds of firms need to stress particular areas of operations management? Explain.

> How is organization height related to the span of management?

> How does a firm’s top management influence its degree of centralization?

> Describe how job rotation can be used to combat the problems caused by job specialization.

> What determines the degree of specialization within an organization?

> How do decisions concerning span of management and the use of committees affect organizational structure?

> Which kinds of firms probably would operate most effectively as centralized firms? As decentralized firms?

> In what way do organization charts create a picture of an organization?

> Circle the letter before the most accurate answer. 6. A manufacturing process that combines raw materials or components to create a finished product is referred to as a (n) a. synthetic process. b. technological process. c. analytical process. d. manufac

> What are the major benefits of a total quality management program?

> Why are there so much government regulation involving social responsibility issues? Should there be less?

> To what extent should the blame for vehicular air pollution be shared by manufacturers, consumers, and government?

> According to this chapter, the leadership style that is most effective depends on interaction among the employees, characteristics of the work situation, and the manager’s personality. Do you agree or disagree? Explain your answer.

> Do you think that people are really as important to an organization as this chapter seems to indicate?

> How can an employee take an ethical stand regarding a business decision when his or her superior already has taken a different position?

> Define the word manager without using the word management in your definition.

> Do average citizens benefit from the activities of the SBA, or is the SBA just another way to spend our tax money?

> Are the so-called advantages of small business really advantages? Wouldn’t every small-business owner like his or her business to grow into a large firm?

> Is growth a good thing for all firms? How does management know when a firm is ready to grow?

> Circle the letter before the most accurate answer. 6. The line of authority extending from the top to the bottom of the organization is known as a(n) a. informal organization. b. line structure. c. line-and-staff structure. d. chain of command. e. matrix

> Discuss the following statement: “Corporations are not really run by their owners.”

> If you were to start a business, which ownership form would you choose? What factors might affect your choice?

> When should a firm consider expanding from strictly domestic trade to international trade? When should it consider becoming further involved in international trade? What factors might affect the firm’s decisions in each case?

> Should imports to the United States be curtailed by, say, 20 percent to eliminate our trade deficit? What might happen if this were done?

> What effects might the devaluation of a nation’s currency have on its business firms, its consumers, and the debts it owes to other nations?

> The United States restricts imports but, at the same time, supports the WTO and international banks whose objective is to enhance world trade. As a member of Congress, how would you justify this contradiction to your constituents?

> Discuss this statement: “Business competition encourages improved product quality and increased customer satisfaction.”

> Is gross domestic product a reliable indicator of a nation’s economic health? What might be a better indicator?

> Does an individual consumer really have a voice in answering the basic four economic questions described on page 14?

> What factors caused American business to develop into a mixed economic system rather than some other type of economic system?

> Circle the letter before the most accurate answer. 6. Tangible, physical resources that a manufacturer uses in carrying out its business are known as what type of resource? a. Human b. Inventory c. Material d. Financial e. Informational 7. Specific state

> a. Why is selecting a supplier important? What factors should be considered when selecting a supplier? b. What costs must be balanced and minimized through inventory control? c. Explain in what sense scheduling is a control function of operations manager

> a. How might productivity be measured in a restaurant? In a department store? In a public school system? b. How can robotics, computer manufacturing systems, and flexible manufacturing systems help a manufacturer to produce products?

> a. Describe the four forms of organizational structure. b. Give an example of each form.

> How are the four areas of operations control interrelated?

> Is it really necessary for service firms to engage in research and development? In planning for production and operations control?

> What steps have U.S. firms taken to regain a competitive edge in the global marketplace?

> Why would Rubbermaid—a successful U.S. company—need to expand and sell its products to customers in foreign countries?

> How does the corporate culture of a local Best Buy store compare to that of a local McDonald’s?

> Contrast line-and-staff and matrix forms of organizational structure.

> What three steps are involved in delegation? Explain each.

> Circle the letter before the most accurate answer. 6. A government agency that was created to assist, counsel, and protect the interests of small businesses in the United States is called a. Small Business Institutes. b. Small Business Investment Compani

> Why do most firms employ a combination of departmentalization bases?

> Why should business take on the task of training the hard-core unemployed?

> Overall, would it be more profitable for a business to follow the economic model or the socioeconomic model of social responsibility?

> Compare and contrast the major styles of leadership.

> Why are leadership and motivation necessary in a business in which people are paid for their work?

> How do a strategic plan, a tactical plan, and an operational plan differ? What do they all have in common?

> Discuss what happens during each of the four steps of the managerial decision-making process.

> What are the major elements of SWOT analysis?

> Does a healthy firm (one that is doing well) have to worry about effective management? Explain.

> Circle the letter before the most accurate answer. 6. A corporation whose stock is bought and sold on security exchanges and can be purchased by any individual is referred to as a (n) __________ corporation. a. closed b. domestic c. open d. foreign e. ex

> Would you rather own your own business independently or become a franchisee? Why?

> As an entrepreneur, you’ll face lots of tough and sometimes ethical decisions in the situation described below, what do you think is the right thing to do. A potential customer wants to visit your place of business. Should you introduce friends as “emplo

> How can a firm obtain the expertise needed to produce and market its products in, for ex-ample, the EU?

> Is government participation in our business system good or bad? What factors can be used to explain your position.

> What kinds of services do not-for-profit corporations provide? Would a career in a not-for-profit corporation appeal to you?

> What might be the mission of a neighborhood restaurant? Of the Salvation Army? What might be reasonable objectives for these organizations?

> Why might an investor choose to become a partner in a limited partnership instead of purchasing the stock of an open corporation?

> Most people who start small businesses are aware of the high failure rate and the reasons for it. Why, then, do some take no steps to protect their firms from failure? What steps should they take?

> 1. What departmentalization bases are likely being used at HP Inc. and Hewlett Packard Enterprise? Explain your answer. 2. Describe the “HP Way” and explain how it can be used to guide future strategic directions for Hewlett Packard Enterprise. 3. Evalua

> 1. Assume you are part of a Ford focus group. The interviewers are interested in your comments about what features you would like in your next auto mobile. Describe three features that you think they should incorporate in their future automobiles. 2. Gre

> 1. How has Theo Chocolate incorporated its model of philanthropy and social responsibility into a successful business concept? 2. What advantages does Theo Chocolate have by sourcing cocoa from the Congo, even though the chocolates ends up costing consum

> 1. When Heidi Ganahl talks with franchisees about performance expectations and measurements, what part of the management process is she describing? Why is this so important in a franchising business? 2. How would you describe Heidi Ganahl’s leadership st

> 1. In terms of services marketing, why is it important for customers to see Mike Boyle working out and supervising trainers at his gym facilities every day? 2. Mike Boyle only wants to attract customers who will be frequent users of his facilities and tr

> 1. Considering the tax benefits, why would investors not want Project Repat to be an S corporation? 2. One of the cofounders of Project Repat is no longer with the company, although he retains a small ownership stake. What complications might this change

> Select the correct answer. 1. T F An analytical process combines raw materials or components to create a finished product. 2. T F Today, the American economy is characterized as a service economy. 3. T F When labor-intensive technology is used, peop

> Select the correct answer. 1. T F Span of management is the number of subordinates who will report to each manager. 2. T F There seems to be a movement from variety in jobs to more specialization. 3. T F Most small and new organizations base departm

> Select the correct answer. 1. T F Informational resources should include information generated outside an organization, such as by the economy, consumer markets, and technology. 2. T F The most fundamental type of goal in an organization is its miss

> Select the correct answer. 1. T F An advantage to the franchisor is that he or she gains fast and selective distribution of the product. An advantage for the franchisee is the opportunity to start a business with limited capital. 3. T F The majority

> Select the correct answer. 1. T F There are more sole proprietorships in the United States than there are partnerships or corporations. 2. T F The term limited partnership is used to describe a business where all partners have gen- eral partnership

> Select the correct answer. 1. T F An absolute advantage is the ability to produce a specific product more efficiently than any other products. 2. T F The balance of payments is the total value of a country's exports minus the total value of its impo

> Select the correct answer. 30. T F A policy of considering only nonminority applicants for job openings is called reverse discrimination. 31. T F Today, few firms are either purely economic or purely socioeconomic in their outlook. 32. T F Working c

> 1. In this chapter, business was defined as the organized effort of individuals to produce and sell, for a profit, the goods and services that satisfy society’s needs. In what ways is Warby Parker satisfying the needs of its customers? 2. Given that Warb

> Select the correct answer. 1. T F The definition of a service economy is an economy in which more effort is devoted to the production of goods to be used for services. 2. T F Walmart and Target are often referred to as marketing intermediaries. 3. T

> Circle the letter before the most accurate answer. 6. Operations managers often refer to the resource or resources that comprise the major or most important input as the a. analytical process. b. synthetic process. c. magnitude of change. d. focus of the

> Circle the letter before the most accurate answer. 6. Two or more people working together in a predetermined way to achieve common goals is known as a (n) a. organization. b. chain of command. c. structure. d. enterprise. e. functional arrangement. 7. Al

> Circle the letter before the most accurate answer. 6. Steel, glass, and fiberglass would most likely be material resources for a. the Mayo Clinic. b. the University of Florida. c. Citicorp. d. General Motors. e. Kroger. 7. The process of providing reason

> Circle the letter before the most accurate answer. 6. The individual or firm that grants a franchise is known as the a. SBA. b. franchisor. c. franchisee. d. entrepreneur. e. grantor. 7. Small businesses provide a. technical innovation. b. employment. c.

> Circle the letter before the most accurate answer. 6. The type of business that is the easiest to form is the a. joint venture. b. syndicate. c. sole proprietorship. d. corporation. e. partnership. 7. The state of __________ offers the lowest organizatio

> Circle the letter before the most accurate answer. 6. A reduction of the value of a nation’s currency relative to the currencies of other countries is called a. an embargo. b. foreign-exchange control. c. currency devaluation. d. a quota. e. currency app

> Circle the letter before the most accurate answer. 35. A group of people who have been singled out for unfavorable treatment on the basis of race, religion, politics, or national origin is called a. an affirmative action group. b. the hard-core unemploye

> Circle the letter before the most accurate answer. 6. Which of the following is not one of the four resources used by business today? a. Material b. Informational c. Governmental d. Financial e. Human 7. Today, the U.S. economy is often characterized as

> Select the correct answer. 1. T F Reducing production costs by selecting suppliers that offer higher-quality raw materials and components at reasonable prices is one way U.S. firms are trying to become more competitive in the global marketplace. 2.

> 1. What are some of the barriers Alibaba is facing as it expands globally? 2. Why would the sale of counterfeit products through its sites be damaging to Alibaba?

> Select the correct answer. 1. T F The step that distributes responsibility and authority within an organization is called delegation. 2. T F Job specialization is the systematic shifting of employees from one job to another. 3. T F The obligation of

> Select the correct answer. 1. T F Of the four main resources available to management, perhaps the most important is the organization's financial resources. 2. T F Strategic planning is the process of establishing an organization's major goals and ob

> Select the correct answer. 1. T F A small business is one that is dependent, is operated as a not-for-profit organization, and is not dominant in its field. 2. T F The primary reason for small-business failure is mismanagement resulting from lack of

> Select the correct answer. 1. T F Today, there are more corporations than there are sole proprietorships and partnerships in the United States. 2. T F For a sole proprietorship and partnership, unlimited liability is a legal concept that holds a bus

> a. How does an increase in productivity affect business? b. Define gross domestic product. Why is this economic measure significant? c. How does inflation affect the prices you pay for goods and services? d. How is the producer price index related to the

> a. What are the four basic economic questions? How are they answered in a capitalist economy? b. Describe the four basic assumptions required for a laissez-faire capitalist economy. c. Why is the American economy called a mixed economy? d. How does capit

> What are some of the issues businesses must consider with regard to public health?

> Select the correct answer. 1. T F The ability to produce a specific product more efficiently than any other nation is called comparative advantage. 2. T F International business consists of all business activities that involve exchanges across natio

> a. What is meant by business ethics? b. What are the different types of ethical concerns that may arise in the business world? c. Explain and give an example of how advertising can present ethical questions.

> a. What steps must a business take to implement a program of social responsibility? b. What is the social audit? Who should prepare a social audit for the firm?

> a. Outline the historical evolution of business social responsibility. b. What are the six important business-related federal laws passed between 1887 and 1914? c. Explain the two views on the social responsibility of business. d. What are the arguments

> a. How can the government encourage the ethical behavior of organizations? b. What is trade associations’ role in encouraging ethics? c. What is whistle-blowing? Who protects the whistle-blowers? d. What is social responsibility? How can business be soci