Evaluate the advantages and disadvantages of franchising.

Evaluate the advantages and disadvantages of franchising. Advantages of franchising: -Less risk. -Training and support. -Brand recognition. -Easier...

Explain why limited liability companies are becoming an increasingly popular form of business ownership.

Explain why limited liability companies are becoming an increasingly popular form of business ownership. - There is limited liability. - There is...

Explain why corporations have become the dominant form of business ownership.

Explain why corporations have become the dominant form of business ownership. Corporation have become the dominant form of business ownership because...

Evaluate the pros and cons of the partnership as a form of business ownership.

Evaluate the pros and cons of the partnership as a form of business ownership. Pros of the partnership as a form of business ownership: - Ability...

Discuss the advantages and disadvantages of sole proprietorship.

Discuss the advantages and disadvantages of sole proprietorship. Advantages of sole proprietorship: - Ease of formation: The paperwork and...

Describe the characteristics of the four basic forms of business ownership.

The characteristics of the four basic forms of business ownership are described below : 1. A sole proprietorship is a business that is owned, and...

What are the impact of computers and robotics on productivity ?

The impact of computers and robotics on productivity : 1. Automation The total or near total use of machines to do work 2. Robotics - The...

Summarize how technology can make American firms more productive and competitive in the global marketplace.

Summarize how technology can make American firms more productive and competitive in the global marketplace. Productivity is the average level of...

Explain how purchasing, inventory control, scheduling, and quality control affect production.

Explain how purchasing, inventory control, scheduling, and quality control affect production. The major areas of operations control are purchasing,...

Discuss the components involved in planning the production process.

Discuss the components involved in planning the production process. Planning for production involves three major phases: design planning,  site...

Describe how research and development leads to new products and services.

Describe how research and development leads to new products and services. Operations management often begins with product research and development...

Understand the importance of service businesses to consumers, other business firms, and the nation's economy.

Understand the importance of service businesses to consumers, other business firms, and the nation's economy. The application of the basic principles...

Outline how the conversion process transforms raw materials, labor, and other resources into finished goods or services.

Outline how the conversion process transforms raw materials, labor, and other resources into finished goods or services. A business transforms resources...

Explain the nature of production.

Explain the nature of production. Operations management consists of all the activities that managers engage in to create goods and services. Operations...

Explain the functions of the informal organization and the grapevine in a business.

Explain the functions of the informal organization and the grapevine in a business. Informal groups are created by group members to accomplish goals...

Understand how committees and task forces are used.

Understand how committees and task forces are used. Committees and task forces are used to develop organizational structure within an organization. An...

Describe the effects of corporate culture.

Describe the effects of corporate culture. Corporate culture has both internal and external effects on an organization. An organization's culture...

Describe the four basic forms of organizational structure.

Describe the four basic forms of organizational structure. There are four basic forms of organizational structure. 1. The line structure is the...

Understand how the span of management describes an organization.

Understand how the span of management describes an organization. The span of management is the number of workers who report directly to a manager....

Explain how decentralization follows from delegation.

Explain how decentralization follows from delegation. Delegation is giving part of a manager's work to other workers. It involves the following...

Identify the various bases for departmentalization.

Identify the various bases for departmentalization. Departmentalization is the grouping of jobs into manageable units. Typical bases for departmentalization...

Explain why job specialization is important.

Explain why job specialization is important. Job specialization is the separation of all the activities within an organization into smaller components...

Understand what an organization is and identify its characteristics.

Understand what an organization is and identify its characteristics. An organization is a group of two or more people working together to achieve...

Describe how organizations benefit from total quality management.

Describe how organizations benefit from total quality management. Total quality management (TQM) is the coordination of efforts directed at improving...

Discuss the steps in the managerial decision-making process.

Discuss the steps in the managerial decision-making process. Decision making, an integral part of a manager's work, is the process of developing...

Explain the different types of leadership.

Explain the different types of leadership. Managers' effectiveness often depends on their styles of leadership—that is, their ability to influence...

Identify the key management skills of successful managers.

Identify the key management skills of successful managers. Managers need a variety of skills in order to run a successful and efficient business....

Distinguish among the various kinds of managers in terms of both level and area of management.

Distinguish among the various kinds of managers in terms of both level and area of management. Managers—or management positions—may be classified...

Describe the four basic management functions: Planning, organizing, leading and motivating, and controlling.

Describe the four basic management functions: Planning, organizing, leading and motivating, and controlling. Managers perform four basic functions,...

Define what management is.

Define what management is. Management is the process of coordinating people and other resources to achieve an organization's goals. Managers are...

Analyze the growth of franchising and its advantages and disadvantages ?

Analyze the growth of franchising and its advantages and disadvantages ? Franchising has grown tremendously since the mid-1970s. The franchisor's...

Explain the concept and types of franchising.

Explain the concept and types of franchising. A franchise is a license to operate an individually owned business as though it were part of a chain....

Explain how the Small Business Administration helps small businesses.

Explain how the Small Business Administration helps small businesses. The Small Business Administration (SBA) was created in 1953 to assist and counsel...

Describe the advantages and disadvantages of operating a small business.

Describe the advantages and disadvantages of operating a small business. The advantages of smallness in business include the opportunity to establish...

Assess the contributions of small businesses to our economy.

Assess the contributions of small businesses to our economy. Small businesses have been responsible for a wide variety of inventions and innovations,...

Identify the people who start small businesses and the reasons why some succeed and many fail.

Identify the people who start small businesses and the reasons why some succeed and many fail. Such personal characteristics as independence, desire...

Define what a small business is and recognize the fields in which small businesses are concentrated.

Define what a small business is and recognize the fields in which small businesses are concentrated. A small business is one that is independently...

Evaluate the advantages and disadvantages of long-term debt financing.

Evaluate the advantages and disadvantages of long-term debt financing. For a small business, debt financing is generally limited to loans. Large...

Evaluate the advantages and disadvantages of equity financing.

Evaluate the advantages and disadvantages of equity financing. The first time a corporation sells stock to the general public is referred to as an...

Describe the advantages and disadvantages of different methods of short-term debt financing.

Describe the advantages and disadvantages of different methods of short-term debt financing. Most short-term financing is unsecured; that is, no...

Identify the services provided by banks and financial institutions for their business customers.

Identify the services provided by banks and financial institutions for their business customers. Banks and other financial institutions offer today's...

Summarize the process of planning for financial management.

Summarize the process of planning for financial management. A financial plan begins with an organization's goals and objectives. Next, a firm's goals...

Identify a firm's short- and long-term financial needs.

Identify a firm's short- and long-term financial needs. Short-term financing is money that will be used for one year or less. There are many short-term...

Understand why financial management is important in today's uncertain economy.

Understand why financial management is important in today's uncertain economy. Financial management consists of all activities concerned with obtaining...

In 1987, what did the SEC and FASB require from all publicly traded companies to include in their annual report?

In 1987, what did the SEC and FASB require from all publicly traded companies to include in their annual report? The SEC and the FASB required all...

Who are the people who use information?

Who are the people who use information? Although the primary users of information are a firm's managers and employees, parties outside the organization—lenders,...

How Much Should Businesses Know About Internet Users?

How Much Should Businesses Know About Internet Users? When you click to conduct an online search or to download a digital coupon, businesses can...

How do Employees Use a Management information system?

How do Employees Use a Management information system? To provide information, an MIS must perform five specific functions. It must 1. collect data, 2....

What happens if a business has a management information system that is too small?

What happens if a business has a management information system that is too small? In some firms, a tendency to save on initial costs may result in...

What happens if a business has a management information system that is too large?

What happens if a business has a management information system that is too large? Answer: Unused capacity and complexity do nothing but increase...

Summarize how managers evaluate the financial health of a business.

Summarize how managers evaluate the financial health of a business. The firm's financial statements and its accounting information become more meaningful...

Describe business activities that affect a firm's cash flow.

Describe business activities that affect a firm's cash flow. Since 1987, the Securities and Exchange Commission (SEC) and the Financial Accounting...

Explain why accurate accounting information and audited financial statements are important.

Explain why accurate accounting information and audited financial statements are important. Accounting is the process of systematically collecting,...

Outline the five functions of an information system.

Outline the five functions of an information system. The five functions performed by an MIS system are Collecting data,  Storing data,  Updating...

Discuss management's information requirements.

Discuss management's information requirements. A management information system (MIS) is a means of providing managers with the information they need...

Examine how information can reduce risk when making a decision.

Examine how information can reduce risk when making a decision. The more information a manager has, the less risk there is that a decision will be...

The 5 Most Important Benefits for a Business that Uses Social Media

The 5 Most Important Benefits for a Business that Uses Social Media 1. Increased exposure for my business - 85% 2. Increased traffic - 69% 3. Provided...

Identify the factors that will affect the future of the Internet, social media, and e-business.

Identify the factors that will affect the future of the Internet, social media, and e-business. Since the beginning of commercial activity on the...

Explain the meaning of e-business and its fundamental models.

Explain the meaning of e-business. e-Business, or electronic business, can be defined as the organized effort of individuals to produce and sell,...

Describe how businesses develop a social media plan.

Describe how businesses develop a social media plan. Before developing a plan to use social media, it is important to determine how social media...

Explain the business objectives for using social media.

Explain the business objectives for using social media. Although its popularity is a recent phenomenon, many businesses are already using social media...

Discuss how businesses use social media tools.

Discuss how businesses use social media tools. Companies use social media to connect with customers, listen to stakeholders, provide customer service,...

Examine why it is important for a business to use social media.

Examine why it is important for a business to use social media. Millions of people of all ages use social media to interact with people and share...

10 Aspects of Business that May Require Legal Help.

10 Aspects of Business that May Require Legal Help. 1. Choosing either the sole proprietorship, partnership, corporate or some special form of ownership. 2....

Describe the advantages and disadvantages of partnerships.

Describe the advantages and disadvantages of partnerships. Advantages - 1. Ease of start-up 2. Availability of capital and credit 3. Personal interest 4....

Identify the institutions that help firms and nations finance international business.

Identify the institutions that help firms and nations finance international business. The financing of international trade is more complex than...

Describe the various sources of export assistance.

Describe the various sources of export assistance. Many government and international agencies provide export assistance to U.S. and foreign firms....

Define the methods by which a firm can organize for and enter into international markets.

Define the methods by which a firm can organize for and enter into international markets. A firm can enter international markets in several ways....

Discuss international trade agreements and international economic organizations working to foster trade.

Discuss international trade agreements and international economic organizations working to foster trade. The General Agreement on Tariffs and Trade...

Outline the extent of international business and the world economic outlook for trade.

Outline the extent of international business and the world economic outlook for trade. World trade is generally increasing. Trade between the United...

Discuss the restrictions nations place on international trade, the objectives of these restrictions, and their results.

Discuss the restrictions nations place on international trade, the objectives of these restrictions, and their results. Despite the benefits of world...

Explain the economic basis for international business.

Explain the economic basis for international business. International business encompasses all business activities that involve exchanges across national...

Major Environmental Laws

Major Environmental Laws National Environmental Policy Act (1970) Clean Air Amendment (1970) Water Quality Improvement Act (1970) Resource Recovery...

Arguments against social responsibility

Arguments against social responsibility 1-Business managers are responsible primarily to stockholders, so management must be concerned with providing...

Arguments for increased social responsibility

Arguments for increased social responsibility 1-Because business is a part of our society, it cannot ignore social issues. 2-Business has the technical,...

Identify the steps a business must take to implement a program of social responsibility.

Identify the steps a business must take to implement a program of social responsibility. 1-A program to implement social responsibility in a business...

Describe the major types of pollution, their causes, and their cures.

Describe the major types of pollution, their causes, and their cures. Water, Air, Land and Noise Industry has contributed to noise pollution and...

Analyze how present employment practices are being used to counteract past abuses.

Analyze how present employment practices are being used to counteract past abuses. Legislation and public demand have prompted some businesses to...

Six Basic Rights to Consumers

Six Basic Rights to Consumers 1. Right to Safety 2. Right to be Informed 3. Right to Choose 4. Right to Be Heard 5. Right to Consumer Education 6....

Discuss the factors that led to the consumer movement and list some of its results.

Discuss the factors that led to the consumer movement and list some of its results. 1. Environmental Protection 2. Product Performance 3. Safe...

Guidelines for Making Ethical Decisions

Guidelines for Making Ethical Decisions 1. Listen and learn 2. Identify the ethical issues. 3. Create and analyze options 4. Identify the best option...

Describe how our current views on the social responsibility of business have evolved.

Describe how our current views on the social responsibility of business have evolved. In a socially responsible business, management realizes that...

Explain how ethical decision making can be encouraged.

Explain how ethical decision making can be encouraged. Governments, trade associations, and individual firms can establish guidelines for defining...

Discuss the factors that affect the level of ethical behavior in organizations.

Discuss the factors that affect the level of ethical behavior in organizations. Individual, social, and opportunity factors all affect the level...

Identify the types of ethical concerns that arise in the business world.

The types of ethical concerns that arise in the business world : Ethical issues arise often in business situations out of relationships with investors,...

What is Circuit City Stores v. Adams ?

Circuit City Stores v. Adams : Case in which Supreme Court ruled that a pre-hire employment application requiring that all employment disputes be...

What is Salting ?

Salting : Process of using paid union organizers to infiltrate an organization and organize its workers. ...

What is Organizational feedback ?

Organizational feedback  : Presentation of data to stimulate discussion of problem areas, generate potential solutions, and stimulate motivation...

What is Project team ?

Project team : Group of people who come together for a specific projec...

What is Job sharing ?

Job sharing : Results when two part-time employees share one full-time jo...

What is Authorization cards ?

Authorization cards : Cards signed by employees to indicate that they want union representation. ...

What is Implied contract ?

Implied contract : Exists when an agreement is implied from circumstances even though there is no express agreement between employer and employee....

What is Focus Group ?

Focus Group : Small group (normally six to twelve) invited to actively participate in a structured discussion with a facilitato...

What is the lowest level of production and sales at which a company can break even on a particular product?

Cost-volume-profit (CVP) formula: px = vx + FC + Profit p is the price per unit, x is the number of units, v is variable cost per unit and FC is total...

Describe three major types of pricing associated with business products.

Describe three major types of pricing associated with business products. Setting prices for business products is different from setting prices for...

Explain the different strategies available to companies for setting prices.

Explain the different strategies available to companies for setting prices. Pricing strategies fall into five categories: new-product pricing, differential...

Examine the three major pricing methods that firms employ.

Examine the three major pricing methods that firms employ. The three major pricing methods are cost-based pricing, demand-based pricing, and competition-based...

Identify the major pricing objectives used by businesses.

Identify the major pricing objectives used by businesses. Objectives of pricing include survival, profit maximization, target return on investment,...

Describe the economic basis of pricing and the means by which sellers can control prices and buyers' perceptions of prices.

Describe the economic basis of pricing and the means by which sellers can control prices and buyers' perceptions of prices. A product is a set of...

Explain the uses and importance of branding, packaging, and labeling.

Explain the uses and importance of branding, packaging, and labeling. A brand is a name, term, symbol, design, or any combination of these that identifies...

Identify the methods available for changing a product mix.

Identify the methods available for changing a product mix. Customer satisfaction and organizational objectives require marketers to develop, adjust,...

Define product line and product mix and distinguish between the two.

Define product line and product mix and distinguish between the two. A product line is a group of similar products marketed by a firm. They are...

Discuss the product life-cycle and how it leads to new-product development.

Discuss the product life-cycle and how it leads to new-product development. Every product moves through a series of four stages—introduction, growth,...

Explain what a product is and how products are classified.

Explain what a product is and how products are classified. A product is everything one receives in an exchange, including all attributes and expected...

Identify the major steps in the consumer buying decision process and the sets of factors that may influence this process.

Identify the major steps in the consumer buying decision process and the sets of factors that may influence this process. Buying behavior consists...

Distinguish between a marketing information system and marketing research.

Distinguish between a marketing information system and marketing research. Strategies are monitored and evaluated through marketing research and...

Describe how market measurement and sales forecasting are used.

Describe how market measurement and sales forecasting are used. Market measurement and sales forecasting are used to estimate sales potential and...

Understand the major components of a marketing plan.

Understand the major components of a marketing plan. A marketing plan is a written document that specifies an organization's resources, objectives,...

Explain how the marketing environment affects strategic market planning.

Explain how the marketing environment affects strategic market planning. To achieve a firm's marketing objectives, marketing-mix strategies must...

Understand the two major components of a marketing strategy—target market and marketing mix.

Understand the two major components of a marketing strategy—target market and marketing mix. A marketing strategy is a plan for the best use of an...

Understand what markets are and how they are classified.

Understand what markets are and how they are classified. A market consists of people with a need, the ability to buy, and the desire and authority...

Trace the development of the marketing concept and understand how it is implemented.

Trace the development of the marketing concept and understand how it is implemented. From the Industrial Revolution until the early 20th century,...

Explain how marketing adds value by creating several forms of utility.

Explain how marketing adds value by creating several forms of utility. Marketing adds value in the form of utility, or the power of a product or...

Understand the meaning of marketing and the importance of management of customer relationships.

Understand the meaning of marketing and the importance of management of customer relationships. Marketing is an organizational function and a set...

Contemporary Views on Motivation

Contemporary Views on Motivation: Equity Theory Contemporary Views on Motivation: Expectancy Theory (Victor Vroom) Contemporary Views on Motivation:...

Contemporary Views on Motivation: Goal-Setting Theory

Contemporary Views on Motivation: Goal-Setting Theory Employees are motivated to achieve goals they and their managers establish together. Goals...