Principles of Management
OER 2019 Edition
ISBN: 9780998625768
Author: OpenStax
Publisher: OpenStax College
expand_more
expand_more
format_list_bulleted
Concept explainers
Textbook Question
Chapter 7.4, Problem 1CC
How can potential business owners find new business ideas?
Expert Solution & Answer
Want to see the full answer?
Check out a sample textbook solution
Students have asked these similar questions
I have just started out as a junior executive in the purchasing department of my organization. My boss has spent fifteen years in this department. One day while I am in a meeting with my boss and a potential vendor, I see my boss accepting a large yellow envelope and tucking it quickly into his pocket. This concerns me because I suspect the vendor is a member of a local gang. I have heard that the person has a criminal record and has a history of bribing local businesses to gain accounts. However, due to a lack of evidence, the person has never been charged. I ask my boss about the individual, and he tells me not to worry about it. I wonder whether I should report the incident to human resources or my organization's legal department or not.
Later, as I continue to question my boss about "the envelope," my boss finally responds and says it has been a long-established tradition for local vendors to donate to the purchasing organization's favorite charity, and in return, the organization…
Read the mini-case study below and answer the following questions.With an enormous amount of data stored in databases and data warehouses, it is increasinglyimportant to develop powerful tools for analysis of such data and mining interestingknowledge from it. Data mining is a process of inferring knowledge from such huge data. Themain problem related to the retrieval of information from the World Wide Web is theenormous number of unstructured documents and resources, i.e., the difficulty of locating andtracking appropriate sources
your company is considering investing in a Human Resource Information System (HRIS).Briefly explain the strategies for justifying HRIS investments.
Ashley Industries can make 1,330 units of a necessary
component with the following costs:
Direct Materials
Direct Labor
$146,000
$39,000
Variable Overhead $23,000
Fixed Overhead
$?
The company can purchase the 1,330 units externally for
$287,000. The avoidable fixed costs are $22,000 if the units are
purchased externally. An analysis shows that at this external
price, the company is indifferent between making or buying the
part.
What are the fixed overhead costs of making the component?
Chapter 7 Solutions
Principles of Management
Ch. 7.1 - What do you think enabled Jack Bonneau to start...Ch. 7.1 - What personal characteristics and values will Jack...Ch. 7.1 - Describe several types of entrepreneurs.Ch. 7.1 - What differentiates an entrepreneur from a...Ch. 7.1 - What are some major factors that motivate...Ch. 7.2 - What type of entrepreneur is Apollonia PoilĂ¢ne?Ch. 7.2 - What personal ethics drove Apollonias decision to...Ch. 7.2 - Describe the personality traits and skills...Ch. 7.2 - What does it mean when we say that an entrepreneur...Ch. 7.3 - What are three ways small businesses can be...
Ch. 7.3 - What social and economic factors have prompted the...Ch. 7.4 - How can potential business owners find new...Ch. 7.4 - Why is it important to develop a business plan?...Ch. 7.4 - What financing options do small-business owners...Ch. 7.5 - What led MailChimps founders to change its focus...Ch. 7.5 - What was MailChimps big idea that changed the...Ch. 7.5 - How does the small-business owners role change...Ch. 7.5 - How does managing a small business contribute to...Ch. 7.5 - What are the benefits to small firms of doing...Ch. 7.6 - Why are small businesses becoming so popular?Ch. 7.6 - Discuss the major advantages and disadvantages of...Ch. 7.7 - What is the Small Business Administration (SBA)?Ch. 7.7 - Describe the financial and management assistance...Ch. 7.8 - What significant trends are occurring in the...Ch. 7.8 - How is entrepreneurial diversity impacting small...Ch. 7.8 - How do ethics impact decision-making with...Ch. 7 - What are the differences between classic,...Ch. 7 - What differentiates an entrepreneur from a...Ch. 7 - What are some major factors that motivate...Ch. 7 - How can potential business owners find new...Ch. 7 - Why is it important to develop a business plan?...Ch. 7 - What financing options do small-business owners...Ch. 7 - How do the small-business owners and entrepreneurs...Ch. 7 - What are the benefits to small firms of doing...Ch. 7 - Describe the financial and management assistance...Ch. 7 - What significant trends are occurring in the...Ch. 7 - How is entrepreneurial diversity impacting small...Ch. 7 - How do ethics impact decision-making with...Ch. 7 - What characteristics made Vic Ahmed a successful...Ch. 7 - How did their Ahmed and Steven Cases partnership...Ch. 7 - Is focusing on smaller cities rather than areas...
Additional Business Textbook Solutions
Find more solutions based on key concepts
To what does the lifetime value of the customer refer, and how is it calculated?
MARKETING:REAL PEOPLE,REAL CHOICES
(Record inventory transactions in the periodic system) Wexton Technologies began the year with inventory of 560...
Financial Accounting (12th Edition) (What's New in Accounting)
An experimental composite engine block for an automobile will trim 20 pounds of weight compared with a traditio...
Engineering Economy (17th Edition)
Quick ratio and current ratio (Learning Objective 7) 1520 min. Consider the following data COMPANY A B C D Cash...
Financial Accounting, Student Value Edition (5th Edition)
E6-14 Using accounting vocabulary
Learning Objective 1, 2
Match the accounting terms with the corresponding d...
Horngren's Accounting (12th Edition)
The approach to construct a forward contract on a share of stock from a position in options. Introduction: Forw...
Corporate Finance (4th Edition) (Pearson Series in Finance) - Standalone book
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, management and related others by exploring similar questions and additional content below.Similar questions
- choose best answerarrow_forwardPlease original work (No AI) Background information: Mergers and acquisitions are inherently risky. No matter how much due diligence you do, it is still possible to miss critical success factors that might lead to the failure of the proposed merger or acquisition. Find a merger/acquisition that has produced less than satisfactory results. Report on the organizations involved and discuss the nature of the merger or acquisition and the resulting failure or near failure of the transaction. Were there obvious red flags that were missed? What would you have done differently? Please cite in text references and add weblinksarrow_forwardPlease original work Talk about the reasoning for each performance targets. Please cite in tex references and add weblinksarrow_forward
- Department restructuring You are the Human Resources Manager for ABC Food Co., a grocery retailer based in Washington State. Recently, the Chief Operating Officer informed you about a departmental restructuring that will combine the Training and Development Department and the Human Resources Department, with you as the Department Head. You are writing to staff of both departments to inform them about the restructuring. You have written some points to help you draft an email (although they are not in order of priority or importance). The Training and Development department will be incorporated into the Human Resources department. The change is effective immediately. The restructured department will be called Human Resources, which also includes Benefits, Compensation, Records, and Recruitment functions. The change is occurring because of long-term vacancy in Training and Development department’s leadership. The change also brings the company into alignment with its peer organizations…arrow_forward15 Specific Stakeholder Map State Gov Local Gov Foreign Govs Federal Gov Regulatory Agencies Local Media Republicans Democrats Singles Local Schools Families Industry Competitors Regional Media Neighbors Corporate Customers Price Competitors National Media Class A Stockholders Local Businesses Repeat Customers THE FIRM Middle Managers Product Competitors Support Staff Web-based Interest Groups Class B Stockholders Entry Level Employees Bondholders Adminstrative Quality Competitors Domestic Suppliers Staf Banks Executives Consumer Reports Natural Resources Defense Council Foreign Suppliers High-Quality Suppliers Consumer Safety Groups OSHA Rating Agencies AFL-CIO Consumer Advocate Groups EDWARDSVILLE SCHOOL OFarrow_forwardConsidering your analysis, after reading Himachal Fertilizer Corporation Part A, make a recommendation on what you think Neil should do. Your recommendation should be ethical under all four lenses.arrow_forward
- Discuss 2 factors which influence an individual’s personality, describing how the concept of personality can be useful in understanding one’s self and others. Using this understanding and the evolution of management thought, identify the likely impact of job typology on organisational performance.arrow_forwardCorporate Culture plays a significant role in determining how organizations manage their human resources. As an HR professional, you are required to evaluate the relationship between corporate culture and HR Opportunities and challenges.In an essay, utilizing scholarly sources and examples, discuss the following:1. How does a strong corporate culture present opportunity for Human Resource? 2. Analyze the challenges HR may face in managing corporate culture3. Offer recommendations for HR professionals to foster a positive corporate culture while addressing potential obstacles.arrow_forward1. The inauguration of Donald Trump as the 47th President of the United States in January 2025 highlighted how ICT has reshaped electoral processes. Identify one pivotal technology or platform that shaped this election. Analyze its contribution by focusing on two of the following areas: Voter engagement Campaign strategies Election administrationSupport your response with examples and references from academic or journalistic sources. 2.Smart home appliances, such as smart refrigerators and smart thermostats, are increasingly popular. Despite their advanced functionalities, some argue that these devices are NOT examples of computer systems. True or False? Justify your response using one example, highlighting the components and functionalities of these devices. 3. The use of Artificial Intelligence (AI) tools like ChatGPT by students for assessments is becoming commonplace. While beneficial, these tools present certain drawbacks. Discuss one significant disadvantage of students using…arrow_forward
- What is the industry newsletter called Capstone Quartley Capstone Courier Capstone Messengerarrow_forward1. The inauguration of Donald Trump as the 47th President of the United States in January 2025 highlighted how ICT has reshaped electoral processes. Identify one pivotal technology or platform that shaped this election. Analyze its contribution by focusing on two of the following areas: Voter engagement Campaign strategies Election administrationSupport your response with examples and references from academic or journalistic sources. 2.Smart home appliances, such as smart refrigerators and smart thermostats, are increasingly popular. Despite their advanced functionalities, some argue that these devices are NOT examples of computer systems. True or False? Justify your response using one example, highlighting the components and functionalities of these devices. 3. The use of Artificial Intelligence (AI) tools like ChatGPT by students for assessments is becoming commonplace. While beneficial, these tools present certain drawbacks. Discuss one significant disadvantage of students using…arrow_forwardFinancial Return of Investment (ROI) The importance of Apple's ROI is to help stakeholders and company see how profitable and efficient Apple generates ROI. Revenue Growth It allows Apple Inc to return more money to stakeholders, expand their user base and invest into new products. Apple's first quarter ended 12.28.2024 at $124.3B Gross Profit Margin Shows how much profit Apple makes for the cost of producing their products and services. It can show how well Apple's management team generates revenue. Apple gross margin ended 12.2024 at 46.88%. (Gurufocus) Customer Net Promoter Score (NPS) Customer loyality and their eagerness to recommed Apple products Customer Satification This will measure how satisifed a customer is with their Apple products and the experience they had. Brand Equity It give Apple a competitive advantage by attracting and retenting customers, building their brand through its foucs on design, innovation and user experience. (Kotlarcyk, 2023)…arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
Foundations of Business (MindTap Course List)MarketingISBN:9781337386920Author:William M. Pride, Robert J. Hughes, Jack R. KapoorPublisher:Cengage Learning
Management, Loose-Leaf VersionManagementISBN:9781305969308Author:Richard L. DaftPublisher:South-Western College Pub
Foundations of Business (MindTap Course List)
Marketing
ISBN:9781337386920
Author:William M. Pride, Robert J. Hughes, Jack R. Kapoor
Publisher:Cengage Learning
Management, Loose-Leaf Version
Management
ISBN:9781305969308
Author:Richard L. Daft
Publisher:South-Western College Pub