BUSN 115 Week 4 Discussions,Quiz & Midterm Exam
Introductions to Business and Technology
BUSN 115 Week 4:
BUSN 115 Week 4 DQ 1 : Ethical Considerations (Graded)
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 coffee market. In fact, you’ve become a regular at a competitor’s operation for over a month. The owner thinks you’re his best customer. He even wants to name a sandwich creation after you. But you’re not there because you love the espresso. No, you’re actually spying. You’re learning everything you can about the competition so you can outsmart them. Is this behavior ethical? Explain your answer.
BUSN 115 Week 4 DQ 2 : A Small Business and Social Media (Graded)
You are the owner of a small business that provides repair services to various brands of vacuum cleaner units. Your store is independent in that you aren’t affiliated with a particular brand of vacuum cleaner. Based on your education and your newly earned undergraduate degree from DeVry University (but, of course), you’re considering expanding your marketing efforts by using social media. You wish to grow your business and feel that this is one area that might assist with your expansion ideas. Based on this information, discuss the use of social media in such a fashion. Use the following questions to further the discussion. Of course, add other questions as you see fit. Remember, if you provide information from other sources, be sure to cite your sources using APA style as your style guide.
BUSN 115 Week 4 Quiz :
Question 1. 1. (TCO 3) Which of the following is an example of a lifestyle business? (Points : 5)
Question 2. 2. (TCO 3) Which of the following is true regarding high-growth ventures? (Points : 5)
Question 3. 3. (TCO 3) Small companies tend to differ from large ones because _____. (Points : 5)
Question 4. 4. (TCO 3) _____ are expensive organizational products with a long useful life. (Points : 5)
Question 5. 5. (TCO 3) Absco computers introduced a low-cost, cloud-based storage service. The company adopted unit-based pricing for the product and many small businesses found the product to be very effective in reducing their storage costs. The sale of the product has increased swiftly in recent months and is at an all-time high. The product is presently in the _____ stage of product lifecycle. (Points : 5)
Question 6. 6. (TCO 3) People who monitor social media to spot shifts in consumer tastes are called _____. (Points : 5)
Question 7. 7. (TCO 4) Organizational purchasing differs from consumer purchasing in that organizational purchasing _____. (Points : 5)
Question 8. 8. (TCO 4) _____ refers to the increase in the value of a product with the number of customers who use it. (Points : 5)
Question 9. 9. (TCO 4) Creating new goods and services for a firm’s current markets is called _____. (Points : 5)
Question 10. 10. (TCO 4) Retailers differ from wholesalers in that retailers _____. (Points : 5)
Question 11. 11. (TCO 4) One of the valuable services that a wholesaler might perform is _____, in which it receives large shipments from the producer and then sells smaller quantities to retailers. (Points : 5)
Question 12. 12. (TCO 4) Producers rely on a class of intermediaries called value-added resellers (VARs) to assist with which of the following functions? (Points : 5)
Question 13. 13. (TCO 4) The government agency that has the authority to impose penalties against advertisers who violate federal standards for truthful advertising is the _____. (Points : 5)
Question 14. 14. (TCO 4) In _____, behaviorally targeted ads follow users even as they move on to other websites. (Points : 5)
Question 15. 15. (TCO 4) Institutional advertisements that present a company’s point of view on public issues, such as education or healthcare, are known as _____ advertising. (Points : 5)
BUSN 115 Week 4 Midterm Study Guide:
- Define importing and exporting.
- Explain free trade.
- Explain the difference between absolute advantage and comparative advantage.
- Explain business, goods, services, and revenue.
- Define and explain entrepreneurship.
- Explain economics and resource development.
- Summarize Adam Smiths theory.
- Define and explain the various forms of business organization to include partnerships, franchising, and corporations.
- Define and explain international and global marketing.
- Explain the major concepts related to a small business startup to include business plans, venture capitalists, the SBA, the SBIC, and SCORE
- Know the elements of a business plan.
- Explain acquisition, LBO, and LLP.
- Explain corporate policy and corporate responsibility.
- Describe corporate social initiatives.
- Define ethics.
- Define CSR.
- Describe insider trading.
- Explain various interested stakeholders.
- List and explain the steps to be considered when determining the ethics of an action.
- Explain the differences between compliance- and integrity-based ethics codes.
- Define balance of payments and balance of trade.
- Describe common market, countertrading, and devaluation.
- Identify and explain WTO, SWFs, NAFTA, and FDI.
- Describe an embargo.
- Describe and explain trade surplus, deficit, tariffs, a strategic alliance, and a multinational corporation.
- Explain the steps to establish a new business.
- Describe an intrapreneur.
- Explain microloans and the management team.
- Describe and explain GDP, communism, depression, recession, and capitalism.
- Explain some of the reasons for the success and failure of small businesses.
- Describe the forms of business ownership, know how they are used and the advantages and disadvantages of each one.
- Describe a franchise, and know its advantages and disadvantages.
- Define a business merger.
- Describe the purpose of a limited liability company.
- Describe what advantages a small business may have when entering a foreign countrys market.
- Describe what the difference is between privately and publicly owned businesses.
- Describe the reasons why some people become entrepreneurs.
- Explain the steps that should be taken in the buying of a franchise.
- Describe and explain SCORE.
- Describe the aspects of a limited liability company.
BUSN 115 Week 4 Midterm Exam :
Question 1.1. (TCO 1) The amount of money a business takes in during a given time period by selling goods and/or selling services. (Points : 5)
Question 2.2. (TCO 1) That part of economics that studies the operations of a nations economy as a whole. (Points : 5)
Question 3.3. (TCO 1) That part of economics that studies the behavior of people and organizations in particular markets. (Points : 5)
Question 4.4. (TCO 2) An unethical activity in which insiders use private company information to further their own fortunes or those of their family and friends. (Points : 5)
Question 5.5. (TCO 3) A complete ban on the import or export of a certain product, or the stopping of all trade with a country. (Points : 5)
Question 6.6. (TCO 3) An unfavorable balance of trade occurs when the value of a countrys imports exceeds that of its exports. (Points : 5)
Question 7.7. (TCO 4) Investors who provide money to finance new businesses or turnarounds in exchange for a portion of ownership, with the objective of reselling the business at a proft.(Points : 5)
1.(TCO 1) Describe and explain capitalism and how it functions in a free market economy. (Points : 30)
2.(TCO 2) Describe and explain corporate responsibility using an ethical perspective. Your stakeholder group for your answer is parents of high school students. Your company designs, produces, and sells video game apps for the mobile market. A concern has been raised in the community where your company is located about the violence portrayed in your mobile video game apps. What do you say to the parents? Why? (Points : 30)
3.(TCO 3) Describe and explain the fundamentals of the international market. Why do nations trade and how trade measured. (Points : 30)
4.(TCO 4) Outline the three ways an entreprenuer can start the business discussing the advantages and disadvantages of the three. (Points : 25)