Question 1

Mini-Case
Sergio Gonzales is employed by Bigbux National Bank,one of the largest banks in the Midwest.He is a loan officer,specializing in home equity loans.Tio Raul,Sergio's favorite (and wealthiest)uncle,passed away last month and left Sergio a sizable amount of money.Sergio is looking at the best way to invest his newly acquired wealth.He is considering many options,ranging from simply putting the money into a savings account to the possibility of starting his own business.Although his bank job pays well and offers pleasant working conditions,Sergio is frustrated because he has little freedom or flexibility to deal with customers since every decision he makes must be approved by his supervisor.Besides,he's a bit bored and looking for a challenge.He thinks he might get a lot of satisfaction from owning his own business.Sergio has not made a definite decision yet,but has talked to a lot of people searching for a good idea for a new business.If he can come up with an idea he likes,he might just quit his current job and use his inheritance to go into business for himself!
-Sergio's frustration with his lack of freedom and flexibility at work indicates that Bigbux:
A)prefers the use of cross-functional teams rather than individual initiative.
B)has not adopted a strategy of empowerment.
C)knows that the best way to ensure good customer service is to closely monitor its lower-level employees.
D)is trying to please customers as well as other stakeholders.

Accepted Answer

Sergio's frustration with his lack of freedom and flexibility at work indicates that the bank has not adopted a strategy of empowerment. Empowerment is the process of giving employees more autonomy and decision-making power to improve job satisfaction and increase productivity. If Sergio had more freedom and flexibility in his job, he would not be considering quitting his job to start his own business.

Question 2

Trace the evolution of American business.Identify the key trends,and discuss the implications these trends have for the future.

Accepted Answer

The answer of Trace the evolution of American business.Identify the...

Question 3

Mini-Case
Sergio Gonzales is employed by Bigbux National Bank,one of the largest banks in the Midwest.He is a loan officer,specializing in home equity loans.Tio Raul,Sergio's favorite (and wealthiest)uncle,passed away last month and left Sergio a sizable amount of money.Sergio is looking at the best way to invest his newly acquired wealth.He is considering many options,ranging from simply putting the money into a savings account to the possibility of starting his own business.Although his bank job pays well and offers pleasant working conditions,Sergio is frustrated because he has little freedom or flexibility to deal with customers since every decision he makes must be approved by his supervisor.Besides,he's a bit bored and looking for a challenge.He thinks he might get a lot of satisfaction from owning his own business.Sergio has not made a definite decision yet,but has talked to a lot of people searching for a good idea for a new business.If he can come up with an idea he likes,he might just quit his current job and use his inheritance to go into business for himself!
-If Sergio starts his own business,his firm's activities and policies will impact many different groups and individuals,including employees,customers,creditors,suppliers,and people living in the community where his business is located.Which of the following statements represents how Sergio should deal with these various groups? Sergio should:
A)take the needs of all of these groups into account,and try to satisfy each group as much as possible.
B)concentrate on meeting the needs of his customers,since they are crucial to the success of his business,but ignore the needs of other groups in order to keep costs low.
C)satisfy whichever group complains the loudest,using the "squeaky wheel gets the grease" philosophy.
D)concentrate on maximizing his own profits and let everyone else look out for themselves.

Accepted Answer

As a responsible business owner, Sergio should take the needs of all groups into account and try to satisfy each group as much as possible. This is known as the stakeholder approach, where the interests of all stakeholders are taken into consideration, not just the shareholders or customers. By satisfying the needs of all groups, Sergio can ensure the long-term success and sustainability of his business. Ignoring the needs of some groups or solely focusing on maximizing profits can lead to negative consequences in the long run.

Question 4

Describe what we mean by greening and thinking green.List several ways that people and businesses are participating in the green movement.List business opportunities that may emerge from this movement.

Accepted Answer

The answer of Describe what we mean by greening and...

Question 5

Mini-Case
Sergio Gonzales is employed by Bigbux National Bank,one of the largest banks in the Midwest.He is a loan officer,specializing in home equity loans.Tio Raul,Sergio's favorite (and wealthiest)uncle,passed away last month and left Sergio a sizable amount of money.Sergio is looking at the best way to invest his newly acquired wealth.He is considering many options,ranging from simply putting the money into a savings account to the possibility of starting his own business.Although his bank job pays well and offers pleasant working conditions,Sergio is frustrated because he has little freedom or flexibility to deal with customers since every decision he makes must be approved by his supervisor.Besides,he's a bit bored and looking for a challenge.He thinks he might get a lot of satisfaction from owning his own business.Sergio has not made a definite decision yet,but has talked to a lot of people searching for a good idea for a new business.If he can come up with an idea he likes,he might just quit his current job and use his inheritance to go into business for himself!
-Two of his friends approached Sergio with a proposal to start a language school.Sergio is fluent in English and Spanish,and also has an education degree.Sergio is strongly considering the idea but also wants to know if there is a growing demand for his services.He learns that an important demographic trend is:
A)the service sector is likely to decline in significance in the next few years.
B)the number of young children in the U.S.will decrease significantly over the next few years as the population of the country levels off.
C)the number of immigrants from South and Central America is increasing steadily in his area,and across the nation.Professionals in hospitals and schools need to know how to speak Spanish.Immigrants need to know how to speak English.
D)the number of retirees is decreasing,making way for a younger generation.

Accepted Answer

The growing demand for bilingual services due to the increasing number of immigrants from South and Central America indicates that starting a language school could be a profitable business venture for Sergio. Additionally, his fluency in English and Spanish and education degree make him well-suited to run such a business. Options A, B and D are incorrect as they do not pertain to the language school proposal or indicate a growing demand for Sergio's services.

Question 6

Mini-Case
Sergio Gonzales is employed by Bigbux National Bank,one of the largest banks in the Midwest.He is a loan officer,specializing in home equity loans.Tio Raul,Sergio's favorite (and wealthiest)uncle,passed away last month and left Sergio a sizable amount of money.Sergio is looking at the best way to invest his newly acquired wealth.He is considering many options,ranging from simply putting the money into a savings account to the possibility of starting his own business.Although his bank job pays well and offers pleasant working conditions,Sergio is frustrated because he has little freedom or flexibility to deal with customers since every decision he makes must be approved by his supervisor.Besides,he's a bit bored and looking for a challenge.He thinks he might get a lot of satisfaction from owning his own business.Sergio has not made a definite decision yet,but has talked to a lot of people searching for a good idea for a new business.If he can come up with an idea he likes,he might just quit his current job and use his inheritance to go into business for himself!
-As he explores his options for starting a new business,Sergio has looked into the tax implications and government regulations that he would encounter.He wants to maintain an office in a different location from his home.He has discovered that some nearby communities offer tax credits and lower taxes than his town.Sergio's decision will be influenced by the:
A)demographic environment.
B)technological environment.
C)socio-religious environment.
D)economic and legal environment.

Accepted Answer

Sergio's decision will be influenced by the economic and legal environment as he is considering the tax implications and government regulations of different communities where he could maintain his office.

Question 7

Mini-Case
Sergio Gonzales is employed by Bigbux National Bank,one of the largest banks in the Midwest.He is a loan officer,specializing in home equity loans.Tio Raul,Sergio's favorite (and wealthiest)uncle,passed away last month and left Sergio a sizable amount of money.Sergio is looking at the best way to invest his newly acquired wealth.He is considering many options,ranging from simply putting the money into a savings account to the possibility of starting his own business.Although his bank job pays well and offers pleasant working conditions,Sergio is frustrated because he has little freedom or flexibility to deal with customers since every decision he makes must be approved by his supervisor.Besides,he's a bit bored and looking for a challenge.He thinks he might get a lot of satisfaction from owning his own business.Sergio has not made a definite decision yet,but has talked to a lot of people searching for a good idea for a new business.If he can come up with an idea he likes,he might just quit his current job and use his inheritance to go into business for himself!
-As he explores his options,Sergio notices that some opportunities appear to be riskier than others.When considering various opportunities,Sergio should keep in mind that:
A)he will be better off picking a low risk business opportunity,since the safest ones are usually the most profitable as well.
B)even though some opportunities appear riskier than others,the level of risk actually varies little from one opportunity to another.
C)high risk business opportunities often have the potential for high returns as well.
D)government regulations are in place to protect investors and entrepreneurs from failure,so there is no need to worry about risk.

Accepted Answer

High risk business opportunities often have the potential for high returns as well. Sergio can potentially earn more profits by taking a calculated risk and investing in a high risk business opportunity. It is important for him to conduct thorough research and analysis before making any investment decision.

Quiz 1: Taking Risks and Making Profits Within the Dynamic Business Environment

Trace the evolution of American business.Identify the key trends,and discuss the implications these trends have for the future.

Describe what we mean by greening and thinking green.List several ways that people and businesses are participating in the green movement.List business opportunities that may emerge from this movement.