...In: Business and Management Business Information Questions What major features of a business are important for understanding the role of information systems? To achieve operational excellence. To develop new products and services. To attain customer intimacy and service. To improve decision-making. To achieve competitive advantages. To ensure survival. Define a business and describe the major business functions. A business is a formal organization whose aim is to produce products or provide services for a profit. The type of business and organizational setup determines the major business functions. Production will need to be developed; the requirement for machinery and people will be set. Next will need some sort of marketing and sales group, to make and keep track of sales. Then a finance and accounting group to track all expenses. Lastly, an HR department will hire, recruit, and train the work force. Define business processes and describe the role they play in organizations. The actual steps and tasks that describe how work is organized in a business are called business processes. They define how business tasks are performed and refer to unique ways work, information, and knowledge are coordinated in a specific organization. Many business processes are tied specific functional area. Like mentioned above the manufacturing and production group will assemble the product, check quality and producing a bill of materials. The Sales and marketing group identify customers...
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...What major features of a business are important for understanding the role of information systems? To achieve operational excellence. To develop new products and services. To attain customer intimacy and service. To improve decision-making. To achieve competitive advantages. To ensure survival. Define a business and describe the major business functions. A business is a formal organization whose aim is to produce products or provide services for a profit. The type of business and organizational setup determines the major business functions. Production will need to be developed; the requirement for machinery and people will be set. Next will need some sort of marketing and sales group, to make and keep track of sales. Then a finance and accounting group to track all expenses. Lastly, an HR department will hire, recruit, and train the work force. Define business processes and describe the role they play in organizations. The actual steps and tasks that describe how work is organized in a business are called business processes. They define how business tasks are performed and refer to unique ways work, information, and knowledge are coordinated in a specific organization. Many business processes are tied specific functional area. Like mentioned above the manufacturing and production group will assemble the product, check quality and producing a bill of materials. The Sales and marketing group identify customers promote the product and sell it. The finance and accounting...
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...Business Economics Questions: 1. Explain the subject matter of economics as question concerning the adjustments between unlimited want and limited resources. 1 & 2 2. Explain how Market/Price mechanism solves there central problems of economics 1 & 2 3. Explain why the price in competitive markets settles down the equilibrium intersection of supply and demand. Explain what happens if the market price starts out too high or too low. 3 4.Explain the economic meaning 0f price elasticity of demand with the help of numerical example of your own choice. 4 & 5 5. Discuss the major determinant of price elasticity of Demand 4 & 5 6. Critically Discuss the law of diminishing marginal utility of a numerical example and suitable diagram 5 Price Elasticity of Demand The elasticity of demand (ed) is a measure of the price responsiveness to the quantity demanded and is equal to the percentage change in quantity demanded divided by the percentage change in price. Because the elasticity of demand can vary depending on whether one moves up or down the demand curve, elasticities of demand are often calculated by taking an average the prices and quantities given by the following formula: ed = change in Q / change in P (Q1 + Q2)/2 (P1 + P2)/2 Determinants of price elasticity of demand 1. existence of substitutes—the closer the substitutes for a particular commodity, the greater will be its price elasticity of demand 2. importance of the commodity in the...
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...Chapter 51 Questions 1) No, it is not a good argument. Brown was on her lunch break so she was not doing what her employment required her to do. Brown’s job does not require her to be walking in the road and her job did not require her to be in the road in the first place. The conditions of her injury do not satisfy the requirement of arising out of employment that is needed. Her job did not have an increased risk or positional risk. Brown also was not injured while performing any of her employment duties so it did not happen during the course of her employment. 3) Rawlinson should assert that the Alabama state prison system violates the disparate impact of Title VII. The stated rule of being at least 5 foot 2 inches and 120 pounds is not discriminatory at first but then you realize that this rule could be discriminatory against women because not many men are shorter than 5 foot 2 inches or weigh less than 120 pounds. Rawlinson doesn’t really need a method for proving discrimination for the second part of her case because the Alabama prison system has a rule that expressly discriminates against hiring women for positions that will have close contact with the inmates at high security prisons. Since the maximum security prisons in Alabama don’t use cells but house the inmates in barracks, this would mean that all prison guards would have close contact with the inmates which would mean that no women would be able to be hired for these positions. The defense that the Alabama prison...
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...Week 7 Business Comms 1. IMC is different from traditional promotion strategies in that it takes the approach that consumers see all types messaging (i.e. billboards, commercials etc) as a single company speaking to them. 2. The traditional communication model is the process whereby meaning is transferred from a source to a receiver. 3. Elements of the Promotion Mix are: a. Advertising: where the marketer controls what their message will say, appear, etc. b. Sales promotion: incentives to retailers, price oriented promotions, excitement for retailers and consumers. c. Public Relations: Relatively low cost, High credibility d. Personal selling: Salesperson can get immediate feedback from the customer. e. Direct Marketing: Targets specific groups of potential customers, easy to measure results. 4. Word of mouth marketing is the ability to give a group of people reason to talk about your product, and increases conversation about it. Buzz Marketing is the use of high profile entertainment/news to get people to talk about your brand. Viral marketing is entertaining and informative messages designed to be passed along in exponential fashion. Guerilla marketing is where a firm floods a lot of its promotional content in places that is not normally expected. Experimental marketing are activities that attempt to give customers an opportunity to actually interact with brands. 5. IMC is a business process that is used by marketers...
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...Appellate courts do not hear testimony of witnesses or attempt to determine which of the witnesses who testified at trial should have been believed. Determining the credibility of the witnesses is the job of the trier of fact. Appellate courts review the trial record, motions, and evidentiary exhibits. True False A Demurrer would be the appropriate pre-trial motion to file if the complaint did not state a valid cause of action (valid claim) even if all the allegations contained in the complaint were true. True False Identify which, if any, of the underlying occur during the informal discovery phase of a lawsuit: Depositions Interrogatories The actual trial Both A & B None of the above One of the types of pleadings that Defendants file in response to the plaintiff’s complaint is called the answer (which is also referred to as the response). True False Identify which, if any, of the below circumstances can occur as a result of an appeal: The appellate court can reverse the trial court The appellate court can affirm the trial court The appellate court can remand the case to the trial court Any of the above Does it ever occur in a lawsuit that the defendant stipulates to the plaintiff’s factual allegations? Yes No The quantum of evidence required for a verdict in a civil case is identical to the quantum of evidence required for a conviction in a criminal case. True False The jury hears the evidence presented at trial and decides the facts that...
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...business plan essentials There are many types of business plan depending upon what you need. Some are simple documents that will enable you to focus on what matters, such as building up client numbers. Others are highly detailed documents with full financial forecasting and analysis which you can confidently hand to potential investors. It is essential you decide precisely what you want your plan for. It is an investment in your company and if written for your circumstances will provide you with a solid foundation to move forwards. If your company is struggling to build client numbers, then a $300 plan could be an exceptionally good investment to clarify exactly where you are and what you need to do to move to the next level. If your company is looking for tens of thousands of dollars of investment or more, then don’t expect to get too much interest if you only invest $300 You may be lucky and it be enough for a kind-hearted investor but these are challenging times and people with money only open up if you can truly convince them and it takes real planning to convince them. Plus one of the first lessons you learnt is that luck doesn’t just happen – you make your own luck. Simple plans for internal use – quick, straight-forward plans to solve immediate problems and make you very productive. The majority of businesses need a relatively simple plan to steer them through some challenging times and give them a solid objective to focus on and grow towards. This type of plan...
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...down along the supply curve of wheat. C) a rightward shift in the supply curve of wheat. D) a leftward shift in the supply curve of wheat. 5) If total expenditure remains constant after price is increased, demand is: A) inelastic. B) perfectly elastic. C) unitarily elastic. D) perfectly inelastic. 6) The short run, as microeconomists use the phrase, is characterised by: A) a period where the law of diminishing returns does not hold. B) no variable inputs - that is all of the factors of production are fixed. C) all inputs being variable. D) at least one fixed factor of production and firms neither leaving nor entering the industry. 7) Philippa grows lettuces to sell. This is a perfectly competitive business and Philippa faces a perfectly elastic demand curve. If she wants to try to increase revenues she should: A) lower the price of her lettuce to try to sell more. B) keep the price the same but produce more to increase sales. C) do nothing; there is nothing she can do to increase revenues. D) raise the price of her lettuces to make more per sale. 8) For a profit maximising monopolist to sell more...
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...1. Please select one or more of the questions included in the "Notebook," and post specific reasons why the questions should be avoided while interviewing applicants for a job; Have you ever been arrested? You can ask whether the applicant has ever been convicted of a felony.) The Wisconsin law prohibits inquires about past arrest records but permits consideration of current arrest. If an applicant is currently under arrest for an offense that is substantially related to the job, an employer may either suspend judgment until on the case is resolved, advise the applicant to reapply when the charge is resolved, or refuse to employ the applicant. Some exceptions an employer may not refuse to employ a person or discharge a person with a conviction...
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...boat market in Australia and produces in excess of 12,000 boats a year. The company is based at Coomera, on Queensland’s Gold Coast, and has over 300 employees. A multi-award winner Quintrex recently won two prestigious 2007 Australian Marine Industry Federation awards in the categories “Day Boat of the Year” and “Fishing Trailerable Boat of the Year (Aluminium Under 6m)” for the 580 Freedom Cruiser and 580 Coast Runner respectively, in May, 2007. Quintrex’s innovative 580 Freedom Cruiser began the winning streak in early May, being awarded Modern Boating magazine’s “Aluminium Boat of the Year” in Sydney. Quintrex Export Manager Trevlynn Petzke, said that the company had not sold into Russia before last year. "Austrade's Moscow-based Business Development Manager, Sergey Kask, alerted us that a customer in Russia might be interested in our range," Mrs Petzke said. "It took about eight months before we made our first sale, because we did not have a dealer in place in Russia. Austrade was vitally important here; they helped us through the process – and have continued to help us." Quintrex now has the Admiral Group as its Russian distributor of aluminium boats up to 7m. Trevlynn Petzke...
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...Literature Review Asking the Right Questions in the Business Research Process Liberty University Abstract This paper seeks to briefly define the topic of business research, then explore the various steps within the associated process while revisiting the issue of what questions are appropriate to ask as the researcher during each of these steps. This will be accomplished by conducting a literary review of the subject in order to gain a general understanding of how the academic community views the business research process. The paper will be divided into two main sections. These main sections include the business research process, and ethical considerations thereof, and research design. By the end of the literary review, the reader should have a good understanding of not only the business research process as a whole, but how to ask the right questions during each step in order to maximize the impact of the study and ultimately lead to better decisions made with the findings. Literature Review Introduction The business research process is one riddled with decision points. Each step comes with many complexities and options that must be carefully considered in order for the researcher to get the best final product possible. From identifying the manager’s question to detailing the wording for a survey to choosing a report format, the researcher must be aware of not only what options are available to him, but also what questions should be asked along the way...
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...Claudia Perez Chapter 9 (Critical Discussion Questions) 1. NAFTA has produced significant net benefits for the Canadian, Mexican, and U.S economies. Discuss. The North America Free Trade Agreement (NAFTA) was passed in 1994. Starting with eliminating the majority of taxes on products traded between the three countries fallowed with a gradual phase-out of other tariffs. The Agreement contributed to more exports. The two way trade between Mexico and the U.S has more than quadruple since the agreement was implemented. Another direct effect is more investments. The U.S is the largest foreign direct investment in Mexico. Investments in Mexico have helped increase the efficiency of U.S domestic production. Also more jobs were created. Even thou some jobs were lost, more and better jobs were created. In conclusion this agreement has benefited all three countries from more free trade. 2. What are the economic and political arguments for regional economic integration? Given these arguments, why don’t we see more substantial examples of integration in the world economy? The economic argument for regional integration is mostly positive. It’s based on the presence of extra gains from the free flow of trade and investment between the countries involved in the agreement. The political argument is that it is mainly based on geography. The participating countries have to be neighboring countries, and many neighboring countries have border disputes lessing the possibilities for regional...
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...1. How did the global economic crisis unfold? It began during the 1990s when the American economy grew by almost 33% but changed for the worse in 2000 after the dot-com bubble burst & then after the 9/11 attacks in 2001. This created a stock market drop & a rise in unemployment. In effort to avert recession, the Federal Reserve dropped interest rates dramatically. Once interest rates dropped the economy was overflowing with money which lead lenders to be able to provide mortgage loans to, previously, undesirable borrowers. Now the demand for houses rose & so did the prices for the houses making these subprime loans attractive to lenders because of the high return. So the Banks & investment houses continued to invest in mortgage securities but the financial institutions did not maintain enough reserves in case the housing market crashed. Naturally, the housing market came crashing down leaving borrowers “upside down” in their loans & they were forced to foreclose. When this happened, the banks became unwilling to lend money so funds were not available for businesses. Without funds for everyday operations, businesses struggled causing layoffs & raising the unemployment rate. 2. What steps did the Federal government and the Federal Reserve take to mitigate the crisis? The Federal Reserve bailed out Bear Stearns & AIG. The U.S. Department of the Treasury seized Fannie Mae & Freddie Mac. Congress passes the economic bailout plan TARP which spent...
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...Chapter 1 – Subject Review Questions 1. I have worked for my current boss, Mr. Ford, in the field of youth social services for nearly a decade. Due to his leadership, I have remained with the agency throughout tumultuous periods. He has always challenged his employees to strive for quality of service at the greatest speed possible. Mr. Ford organizes employees to create a dynamic workforce capable of adapting to changes affected by the macroenvironment. In an effort to continue to win Requests for Proposal bids, Mr. Ford has consistently operated an efficient service program that is cost competitive with other service providers and fiscally sustainable. 2. One of the greatest ways that the Internet impacts my life on a daily basis involves how it has allowed knowledge to be shared instantaneously and with increasing accuracy. I am able to receive information about events and interests in real time. Instead of having to search libraries for dated information, as I did as a youth, I can find information that is relevant and current from trusted sources. Now it is possible to access peer-reviewed publications from esteemed institutions. Globalization, in conjunction with the Internet, has provided access to news and information from around the world. I enjoy reading articles from the perspectives of those of other nationalities and now, thanks to Google Translate, I can read articles that were written in foreign languages. 3. I have always admired Google for how...
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...Interview question expected from a job at Primark: 1 - What do you consider to be 3 of your main strengths? The interviewer asks this to identify the interviewees opinion on their main 3 strengths, the interviewee will normally reply with three main attributes that relate to the job. 2 - What are 3 of your weaknesses? The interviewer asks this to identify the interviewee’s opinion on their main 3 weaknesses, the interviewee will normally reply with one or two main attributes, from experience it is difficult to provide 3 answers. 3 - Why do you want to work here? The interviewer asks this to clarify that the individual actually wants to work at the establishment, and is committed to working for the company, it also shows the interviewer if the individual has done any research into the company. 4 - What do you feel you can bring to the team? The interviewer asks this see what the individual will bring to the team, what they consider attributes that are ideal for team work, these are often things they didn’t mention as their 3 main strengths, but consider as important. 5 - What standard of reference do you think your previous employer would give about you? {If applicable} The interviewer asks this to see whether the individual worked well in their previous job, if they felt they worked well and got on with their previous team, the interviewer will then compare this to the individual’s reference to see if they are being truthful. 6 - Are you a leader or a follower?...
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