...Name:___________________ Favorite Snack:___________________ Introduction to Business Part 4, 5 and 6: Marketing Management, Managing Technology and Information and Managing Financial Resources Chapter 12-18 Email to: Dr. Luis Ortiz at lortiz@nmhu.edu Multiple Choice and Essay Exam MULTIPLE CHOICE Chapter 12 1. ________ is an organizational function and a set of processes for creating, communicating, and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders. |a. |Marketing | |b. |Market segmentation | |c. |Consumer behavior | |d. |Marketing research | DIF: 1 REF: p. 380 OBJ: TYPE: KN TOP: AACSB Analytic 2. Place utility is created ________. |a. |when arrangements for the transfer of title from seller to buyer are made | |b. |by having the good or service available at a convenient location when the consumer wants to buy it | |c. |when the product is made available to the consumer at a time...
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...thought of screaming but only of watching as those dark markings rolled and boiled in perfect symetry across the wings like clouds in a night sky above, in water below." Prologue Part One: Commissions Chapter One Chapter Two Chapter Three Chapter Four Chapter Five Part Two:Physiognomies of Flight Chapter Six Chapter Seven Chapter Eight Chapter Nine Chapter Ten Chapter Eleven Chapter Twelve Chapter Thirteen Chapter Fourteen Chapter Fifteen Chapter Sixteen Chapter Seventeen Part Three: Metamorphoses Chapter Eighteen Chapter Nineteen Chapter Twenty Chapter Twenty-One Chapter Twenty-Two Chapter Twenty-Three Chapter Twenty-Four Chapter Twenty-Five Chapter Twenty-Six Part Four: A Plague of Nightmares Chapter Twenty-Seven Chapter Twenty-Eight Chapter Twenty-Nine Chapter Thirty Chapter Thirty-One Chapter Thirty-Two Chapter Thirty-Three Part Five: Councils Chapter Thirty-Four Chapter Thirty-Five Chapter Thirty-Six Chapter Thirty-Seven Chapter Thirty-Eight Chapter Thirty-Nine Chapter Forty Chapter Forty-One Part Six: The Glasshouse Chapter Forty-Two Chapter Forty-Three Chapter Forty-Four Chapter Forty-Five Part Seven: Crisis Chapter Forty-Six Chapter Forty-Seven Chapter Forty-Eight Chapter Forty-Nine Chapter Fifty Chapter Fifty-One Part Eight: Judgement Chapter Fifty-Two "I even gave up, for a while, stopping by the window of the room to look out at the lights and deep, illuminated streets. That’s a form of dying, that losing contact with the city like...
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...Law (Title 11 of the US Code separated into individual Chapters, each dealing with a different type of bankruptcy) but the bankruptcy laws of each state also play an important part; consequently, though there are bankruptcy kits, you will probably need a lawyer to successfully file and a lawyer search should focus on a bankruptcy attorney or bankruptcy law firm licensed in the debtor’s state of residence. The attorney licensed in your state can tell you how to file for bankruptcy in a federal court within your state. American bankruptcy is actually a form of relief granted by a court, so it is not so much a matter of a debtor “declaring bankruptcy”; rather, someone files a petition requesting that the court discharge or reduce or restructure debts in bankruptcy. In American bankruptcy, a federal court manages a debtor’s property to protect the debtor from his/her creditors and to benefit the creditors as much as possible under the circumstances. While bankruptcy is designed for long-term relief, one of the most important features of filing for bankruptcy is the “automatic stay.” When a petition is filed for bankruptcy, either by the debtor (“voluntary bankruptcy”) or by one of his/her creditors (“involuntary bankruptcy”), most collection efforts such as utility shut-offs, foreclosures, evictions, garnishments and lawsuits, are immediately stopped. There are types of bankruptcy covering all sorts of debtors but the 4 types used by most American debtors are Chapter 7, Chapter...
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...Legal Environment of Business Unit 2 Discussion Board American Intercontinental University Online November 14, 2012 Legal Environment of Business There are three types of bankruptcy – Chapter 7, Chapter 11 and Chapter 13. This discussion board post will discuss who can file Chapter 7 bankruptcy. Also discussed will be reasons why people file bankruptcy and how interest rates on loans and credit cards are affected by bankruptcy. The Chapter 7 bankruptcy is also referred to as liquidation, Chapter 11 bankruptcy is the reorganization of debt and Chapter 13 bankruptcy is the adjustment of debts of an individual with regular income (Types of Bankruptcy, 2011). An individual may file bankruptcy if they reside in the United States, within the last 6 years must not have been approved for a Chapter 7 release, and must not have been dismissed for bankruptcy filing within the last 180 days (Chapter 7, 2012). Within 6 months of filing for Chapter 7 bankruptcy, a person must also complete debt counseling classes and must pass a means test. A means test is a financial test given to see if a person qualifies for bankruptcy (Chapter 7, 2012). Although there are many reasons why a person would file for bankruptcy, only a few reasons will be mentioned in this discussion. The number one reason for filing for bankruptcy is medical expenses. Forty-two percent of those who filed for bankruptcy in 2010 were due to medical expenses. Twenty-two percent of bankruptcies were due to job loss...
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...accounts, the company inflated its revenues, around $11 billion by the end of 2003. As the accountant for WorldCom, I would have recorded such disbursements as operating costs; the procedure used was unethical. Had the company insisted the procedures be recorded in such a manner, I would have no choice but to alert the necessary authorities as this was a serious violation of accounting ethics. The consequences for WorldCom resulted in the company defaulting on bank agreements, loans being subject to immediate payment. The reputation of the company was in question, affecting the profits of the company, making it impossible to earn enough money to cover the loans. On July 21st, 2002, the largest filing in USA history, WorldCom filed Chapter 11 bankruptcy protection, resulting in one of the largest corporate fraud scandals. Becoming MCI and moving to Dulles, Virginia on April 14th 2003, the bankruptcy reorganization agreement meant the company paid $750 million to the SEC in cash and stock, this was...
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...of the fittest” enables the survival of small-medium size businesses. The author provides multiple examples of how he and his company solved each problems relating to businesses that is on the brink of failure. By implementing his ideal, the author believes your company will survive, along with great rewards in the future. The book starts off in chapter 1 by introducing himself and his company, American Management Services, they have been working for decades to help save Main Street Businesses. The truth at the beginning of the chapter is YOU’RE the fault for your business failures, do not blame recession for your failure, you are the ultimate factor in determining your businesses survival. You must challenge yourself constantly in order to set the tone of the top. This means coming in on Saturdays, or Sundays to work instead of fishing or golfing. No one should know about your financials better than yourself. Keep on task with every details relating to payrolls, expenditures over certain amounts, approve checks going out, etc. These things must be constantly imbedded in order to have a successful business. The chapter also pinpoints another important factor, “Profits Aren’t Everything, They’re the only thing.” You need to do everything you can to let Profits be positive even if that means firing your family members, or incompetent employees. To ensure survival you must be what the author likes to call “ruthless.” Setting the tone of tough, but fair leader will better...
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...Global Crossing (GBLX) Global crossing was founded by Gary Winnick, David L. Lee, Barry Porter and Abbot L. Brown in 1997 through a company called Pacific Capital Group (Winnick’s personal venture group). Global crossing provided computer networking services worldwide. The company offered transit and peering links, Virtual private network, leased lines, audio and video conferencing. Its customer base ranged from private individuals to large enterprises and other carriers. Global crossing suffered a big crisis in year 2000 when it filed for chapter 11 bankruptcy protections in January 2000. Its assets were sold to Asia Netcom, which is a subsidiary of China Netcom. Global Crossing gained significant publicity through their bankruptcy process as a result of the behavior of the firm's managers. Thousands of laid-off employees never received their severance payments (as Global Crossing's bankruptcy eventually rendered them unable to make the payments) and many workers' retirement benefits became worthless after the crash of Global Crossing stock. However, while these facts may in and of themselves be the unfortunate consequences of bankruptcy, the fate of the firm's executives tells a different story: the company moved up its last pay date so managers could collect their final paychecks before the January 28th declaration of bankruptcy, while laid-off workers' severance checks had already ceased to arrive. Moreover, while regular employees' pension plans quickly deteriorated alongside...
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...Overview It was all the craze in the early 70s to mid-80s with the first ever gaming condole and classic titles like “Pong,” “Centipede” and “Asteroid”. In 2000, Infogrames Entertainment of France purchased a small stake in the company and later bought out the full company, changing the name to Atari S.A. The $11 million deal between Infogrames and Atari was positive for Infogrames and its shareholders (Malware, 2014). Infogrames’ CEO David Gardner stated the merger would create a simplified global structure for the business during the rebuilding phase of the company (Future Publishing Limited, 2014). In addition to the merger, Infogrames agreed to lend the gaming company $20 million for operational cash requirements between the initiation of the deal and its close (Malware, 2014). Essentially, this merger combined Atari US with Atari AS and operated under the latter. As technology continued to advance, new gaming and entertainment consoles became ever more popular and Atari loss previous momentum and slowly dwindled away. Filing Bankruptcy Atari US filed Chapter 11 bankruptcy protection January 2013 to break away from its unprofitable parent company to “secure independent capital for future growth, primarily in the areas of digital and mobile games” (Pepitone, 2013). Under Chapter 11 bankruptcy, the debtor proposes a reorganization plan to pay creditors back over time (Liuzzo, p343). Atari US expects this filing will give them the boost they need to continue its...
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...REBEL ANGELS BY LIBBA BRAY CHAPTER ONE CHAPTER TWO CHAPTER THREE CHAPTER FOUR CHAPTER FIVE CHAPTER SIX CHAPTER SEVEN CHAPTER EIGHT CHAPTER NINE CHAPTER TEN CHAPTER ELEVEN CHAPTER TWELVE CHAPTER THIRTEEN CHAPTER FOURTEEN CHAPTER FIFTEEN CHAPTER SIXTEEN CHAPTER SEVENTEEN CHAPTER EIGHTEEN CHAPTER NINETEEN CHAPTER TWENTY CHAPTER TWENTY-ONE CHAPTER TWENTY-TWO CHAPTER TWENTY-THREE CHAPTER TWENTY-FOUR CHAPTER TWENTY-FIVE CHAPTER TWENTY-SIX CHAPTER TWENTY-SEVEN CHAPTER TWENTY-EIGHT CHAPTER TWENTY-NINE CHAPTER THIRTY CHAPTER THIRTY-ONE CHAPTER THIRTY-TWO CHAPTER THIRTY-THREE CHAPTER THIRTY-FOUR CHAPTER THIRTY-FIVE CHAPTER THIRTY-SIX CHAPTER THIRTY-SEVEN CHAPTER THIRTY-EIGHT CHAPTER THIRTY-NINE CHAPTER FORTY CHAPTER FORTY-ONE CHAPTER FORTY-TWO CHAPTER FORTY-THREE CHAPTER FORTY-FOUR CHAPTER FORTY-FIVE CHAPTER FORTY-SIX CHAPTER FORTY-SEVEN CHAPTER FORTY-EIGHT CHAPTER FORTY-NINE CHAPTER FIFTY PROLOGUE DECEMBER 7, 1895 HEREIN LIES THE FAITHFUL AND TRUE ACCOUNT OF my last sixty days, by Kartik, brother of Amar, loyal son of the Rakshana, and of the strange visitation I received that has left me wary on this cold English night. To begin at the beginning, I must go back to the middle days of October, after the misfortune that occurred. It was growing colder when I left the woods behind the Spence Academy for Young Ladies. I'd received a letter by falcon from the Rakshana. My presence was required immediately in London. I was to keep off the main roads and be certain I was not followed...
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...This greediness motivated them to falsify information that covered up the true company’s financial health. They engaged into bigger and riskier deals just to maintain their image to the stakeholders. The Lehman Brothers executives used a corrupted strategic plan to create a picture of a respectful status and an excellent financial statement. The culture of this company encouraged unethical practices within the employees of the company. Lehman Brothers was a company that had unrealistic plans, and money was their main objective. #3. Discussion Question: What role did Lehman’s executives play in the company’s collapse? Were they being responsible and ethical? Discuss. Discussion: The financial services firm, Lehman Brothers filed Chapter 11 bankruptcy on September 15, 2008 ( Valukas, 2010). The downfall of Lehman’s was... View Full...
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...Case Analysis: Loewen 1. Loewen was able to grow between 1990 and 1995 through pre-need sales, or sales of cemetery plots for future use. While the pre-arranged funeral service revenues could not be recognized immediately, revenues from the pre-sale of cemetery plots could be. With the Baby-Boomer generation aging into their 50s and 60s, this market represented the major source of growth in the early 1990s. We do not believe Loewen created value with this source of revenue as it was simply benefitting from these customers earlier than otherwise would have been expected.(What about investment income on Cash in Advance?). We feel that pre-selling the cemetery plots only served to steal from revenues that would have normally been expected in the future (may need to add quantitative analysis here). 2. Financial comparison between Loewen and SCI from 1996 to 1998: a. Gross Margin – While SCI enjoyed stable gross margins ranging from 31.08% to 30.58% from the period of 1996 to 1998, while Loewen’s gross margins over the same period declined from 36.54% to 25.68%, reduction to GM of 29.72% (see Financial Comparison Table below). Both companies shared the strategy of growing through acquisition, however SCI focused more on owning acquisitions outright and seemed to realize operational efficiencies and shared fixed costs demonstrated by their consistent GM. Loewen took a less invasive approach and almost requiring original management to remain in place for certain time...
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...Executive Summary – American Airlines The future of American Airlines remains uncertain after a lieu of mistakes and misfortunes. American Airlines’ parent company, AMR, filed Chapter 11 bankruptcy in November of last year after recording net losses of $2.1 billion, $1.5 billion, and $471 million in 2008, 2009, and 2010 respectively. Also, with AMR’s previous CEO declaring retirement, new CEO Tom Horton was named. In the wake of their financial predicament, American Airlines is also having PR, managerial, and maintenance problems. The pilot union is demanding an industry standard contract that includes salary and job security provisions. The inability of AA to negotiate a deal, along with thousands of job cuts, has left many American Airlines’ employees bitter. In recent months, flight attendants have engaged in very inappropriate public rants and rude behavior consequently causing delays among flights and irate customers. In addition to the behavioral issues, several planes have had to make emergency landings due to loose seats and other incidents of insufficient inspection. In July, five AA passengers had to be hospitalized after encountering turbulence during a flight. American Airlines’ fleet of aircrafts has an average age of 15 years. These aged carriers are inefficient energy consumers and multiply costs. American Airlines has openly declared their opposition to a merger with US Airways, although, the final decision rests with AMR and negotiations are still in progress...
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...Emergence of Trust Start with Why – Simon Sinek If a company mistreats their people, just watch how the employees treat their customers. Mud rolls down a hill, and if you’re the one standing at the bottom, you get hit with the full brunt. In a company, that’s usually the customer. EX: Continental Airlines -crummy place to work in 1994. “surly to costumers, surly to each other, and ashamed of their company. And you can’t have a good product without people who like coming to work. It just can’t be done,” he recounts. Continental going through hard time: Chapter 11 bankruptcy protection 2x in eight years. 1983 and 1991. 10 different CEOs. Lost 600 million and ranked last in every performance category. Bethune arrives and makes $250 million and was ranked as one of the best companies to work for in America. Made changes to improve operations, but biggest gain was impossible to measure: TRUST!!! Trust emerges because executive promises change. Trust is not a checklist. Fulfilling all your responsibilities does not create trust. Trust is a feeling, not a rational experience. Trust begins to emerge when we have a sense that another person or organization is driven by things other than their own self-gain. Trust - sense of value, real value Value is the transference of trust - Can’t convince someone you have value, just as you can’t convince someone to trust. - Have to earn trust by communicating and demonstrating that you share same values and beliefs. - WHY is just...
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...discharge. The Federal Bankruptcy Act of 1898 had 3 principal objects in view: 1. To prevent preferences and ensure equality in payment as between the creditors of insolvent debtors; 2. To punish and discourage commercial fraud; and 3. To discharge honest debtors from their debts when overwhelmed by financial misfortune through no fault of their own. The act gave creditors collectively full power over the administration of insolvent estates and placed upon them the responsibility for enforcement of the act. New Legislation The new Legislation enacted by Congress called the Bankruptcy Abuse and Consumer Protection Act was intended to make it more difficult for debtors to file a Chapter 7 Bankruptcy under which most debts are forgiven or discharged and instead force debtors to file a Chapter 13 Bankruptcy under which debts are discharged only after the debtor has repaid some portion of these debts. Herbert Addison reports, On October 17, 2005 President Bush’s bankruptcy reform law goes into effect forever changing the rules of debt collection in this nation. Consumer advocates and the public appear to be...
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...two types: liquidation and reorganization. The U.S. Court of Bankruptcy (2015), states that among the popular proceedings are chapters 7, 11, 12, and 13, which individuals and businesses use to file. Chapter 7 bankruptcies normally fall into the liquidation category. This means that an individual’s own property can be taken away and sold in the process of liquidation in order to pay back the debts. Conversely, chapter 13 bankruptcies fall under the reorganization category, meaning that the individuals will probably be able to keep their property, but they must submit and stick to a plan that will allow the person to repay some or all of their debts within 3 to 5 years. A case filed under chapter 11 of the United States bankruptcy code is frequently referred to as a reorganization bankruptcy. Its bankruptcy proceedings are usually employed by struggling businesses as a way to get their affairs in order and pay off their debts. In addition, some individuals also file for chapter 11 bankruptcy when they are not eligible for chapter 13 bankruptcy or own large amount of non-exempt property (like a home). However, chapter 11 can be much more expensive and time consuming when compared to chapter 13, and the individual will probably need to speak to a lawyer to decide whether chapter 11 is the right pick for them (U.S. Court for Bankruptcy, 2015). The chapter 12...
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