Principles of Management
OER 2019 Edition
ISBN: 9780998625768
Author: OpenStax
Publisher: OpenStax College
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Chapter 5, Problem 4CTQ
How were the illegal and fraudulent activities discovered?
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Classy Furniture Limited is looking to expand its operations due to increased demand and a partnership with HNI Corporation. The company decided to stay at its current location and expand the existing facility instead of relocating. This decision was made after discussions highlighted the costs and potential disruptions associated with moving. The expansion plan includes adding production capacity, installing modern equipment, and improving the working environment with air - conditioning and a dust - free paint shop. The project is budgeted at a maximum of $ 20 million and is expected to be completed in 18 months. However, the project team is currently facing challenges in managing key areas such as quality, human resources, communications, procurements, and stakeholder engagement. Additionally, the changes may impact scope, cost, time, and risk management, requiring careful planning and execution to ensure the project's success. Suggest the changes that should be made to the project…
Classy Furniture Limited is looking to expand its operations due to increased demand and a partnership with HNI Corporation. The company decided to stay at its current location and expand the existing facility instead of relocating. This decision was made after discussions highlighted the costs and potential disruptions associated with moving. The expansion plan includes adding production capacity, installing modern equipment, and improving the working environment with air - conditioning and a dust - free paint shop. The project is budgeted at a maximum of $ 20 million and is expected to be completed in 18 months. However, the project team is currently facing challenges in managing key areas such as quality, human resources, communications, procurements, and stakeholder engagement. Additionally, the changes may impact scope, cost, time, and risk management, requiring careful planning and execution to ensure the project's success. Suggest the changes that should be made to the project…
Chapter 5 Solutions
Principles of Management
Ch. 5.1 - What individual and organizational ethical issues...Ch. 5.1 - What are some signs of unethical activities you...Ch. 5.2 - What are terminal and instrumental values?Ch. 5.2 - What are ways organizations can employ values to...Ch. 5.3 - What are some ethical guidelines individuals and...Ch. 5.3 - Can being aware of the actual values you use to...Ch. 5.4 - How does Aaron Feuerstein exemplify servant...Ch. 5.4 - If Feuerstein had decided to use the insurance...Ch. 5.4 - What role does leadership play in how ethically...Ch. 5.4 - Explain what stewardship is and the role of...
Ch. 5.5 - In what ways do law and compliance complement...Ch. 5.5 - How does stakeholder management differ from...Ch. 5.6 - How do sustainable business practices benefit...Ch. 5.6 - Differentiate the roles compliance and CSR...Ch. 5.7 - What ways can and do some MNEs demonstrate social...Ch. 5.7 - What are some specific ethical business practices...Ch. 5.8 - What are some emerging national and global issues...Ch. 5 - What is the difference between ethics and business...Ch. 5 - What is normative ethics?Ch. 5 - Why are values an important element of ethics for...Ch. 5 - What are the differences between instrumental and...Ch. 5 - Can an individual be ethical without using ethical...Ch. 5 - Identify major classical ethical principles.Ch. 5 - Differentiate between the principle of rights and...Ch. 5 - Why is leadership important for ethical conduct in...Ch. 5 - Identify two types of ethical leaders and the...Ch. 5 - What is the difference between ethics and...Ch. 5 - What is CSR, and why is it important?Ch. 5 - What is stakeholder management?Ch. 5 - What is the difference between stakeholders and...Ch. 5 - What is different about ethics in a global or...Ch. 5 - What are some global issues that corporations must...Ch. 5 - Identify some contemporary ethical and compliance...Ch. 5 - What is a moral entrepreneur?Ch. 5 - Does ethics pay? Explain.Ch. 5 - After reading this chapter, what are major...Ch. 5 - What were the sources and causes the problems in...Ch. 5 - Who were some of the primary decision makers that...Ch. 5 - What were these individuals motives and...Ch. 5 - How were the illegal and fraudulent activities...Ch. 5 - Who was to blame?Ch. 5 - What unethical activities occurred before the...Ch. 5 - What would you have done, if anything, had you...Ch. 5 - How would a stakeholder approach, if taken by the...
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- Case Study: Savannah Organics In the fast-developing economy of Botswana, a young entrepreneur, Thato Dlamini, decided to venture into organic agriculture. Inspired by the growing global demand for organic produce, Thato founded Savannah Organics in 2019, aiming to supply pesticide-free fruits and vegetables to urban markets. The company started with a modest 5-hectare plot on the outskirts of Gaborone. Despite its potential, Savannah Organics faced significant challenges linked to the entrepreneurial environment. Access to funding was one of the primary obstacles. Thato struggled to secure a bank loan, as the financial institutions required collateral far beyond her means. Her attempt to raise funds through grants was equally difficult, with bureaucracy and lack of clear guidance delaying her applications. Another challenge was the lack of supportive infrastructure. Irrigation systems and farm equipment were either unavailable locally or prohibitively expensive, forcing Thato to…arrow_forward4. The entrepreneurial environment is the combination of factors that affect entrepreneurs and their businesses. Thus entrepreneurial environment includes different types of entrepreneuship because have different aspirations and visions for the kind of businesses they want to create. a. Explain what an entrepreneurial ecosystem is. (2 marks)arrow_forward3. Securing needed financing is one of the most important functions related to starting a business. Therefore, it is important to understand what sources of financing exist at various stages of venture development. It is also important to determine what kind of financing provides the most value for the entrepreneur and the new venture. Equity financing is one way entrepreneurs use to access funding. a. What is equity financing? (3 marks) b. State and expain two (2) examples of equity funding. c. State three advantages of equity financing? (4 marks) (3 marks)arrow_forward
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