Define entrepreneurship and include three (3) pros and three (3) cons that entrepreneurs face in today’s business environment. 2.Explain the difference between monetary and fiscal policy and explain how they are formulated and by whom. 3.Discuss the benefits of global trade and its impact on economic development. Give examples.

4. You are an office manager for Triple C Employment Services, a small business of 20 employees. It is your responsibility to pay the invoices submitted by your vendors. In recent months, you have noticed an increase in the number of invoices from your small office supply vendor, Handy Offices. It seems as if the prices for many of the supplies are higher than necessary. After doing some research, you discover that one of your company’s managers, John Deedrick, has been placing many of these orders. You also discover that John has received some rather nice “gifts” from the CEO at Handy Offices, including two dinners at an expensive restaurant and greens fees at one of the better golf courses in the area. You know all too well that Deedrick, the Handy Offices CEO, and the Triple C CEOs are good friends, both on and off the golf course. Triple C currently has no provision in place that allows employees to seek guidance for ethical concerns or to report ethical violations anonymously. What is your ethical dilemma? What do you do? Include in your answer the key principles for reaching ethical decisions that were useful to you in reaching your decision. 5.Define and explain effective communication. Why is it important in the business environment? 6.Sole proprietorships are the most common form of business ownership. What advantages explain the popularity of the sole proprietorship? 7.How does small business impact the U.S. economy? 8.Explain the Sarbanes-Oxley Act of 2002. Include in your response purpose of this legislation as it refers to accounting practices. Provide some history as to why this act became necessary. 9.What is a pro forma statement? Describe the two major types of pro forma statements, and explain the role they play in financial planning 10.Describe the three basic types of securities issued by corporations. 11. You are promoting your lawn mowing business and are considering serving additional neighborhoods. Describe the primary research tools you might use to determine if you should expand your service area. 12.If you were choosing between broadcast TV and cable TV as an advertising media for your product or service, what would you see as the major strengths for each option? What would be their weaknesses? 13. What is the goal of a distribution strategy? Name and describe the key elements. Explain the difference between using a direct channel and using channel intermediaries. 14.Discuss how expectancy theory and equity theory impact employee motivation. 15.Discuss four flexible scheduling options that employers have attempted to provide workers so that they can achieve a better work-life balance. 16. New technology improves our lives. Sometimes they are also known to create challenges. Describe some of the ways that Internet and associated technologies has proved challenging for us. 17.Explain how technology has influenced operations management. 18.Explain the movement toward lean production. 19. Explain the challenges of lean production in the service industry. Describe how Southwest Airlines has applied lean techniques to eliminate waste from its operations. 20.What factors will you consider in making the right career choice? Consider the five key dimensions of the business environment and how each will affect your choice. 21.Compare and contrast for-profit organizations and a nonprofit organizations. 22.There are four factors of production required for an economic system to thrive and create wealth. Entrepreneurship is one of them. Explain and give examples of how an entrepreneur would employ the other factors of production in an effort to grow and maintain a business. 23.How did the use of subprime mortgage loans contribute to the economic crisis? 24.Assume that the price of gasoline is currently falling. What will happen to the quantity of gasoline supplied at your local gas station? Under this circumstance, what else might the local gas station focus on selling to keep profits growing? When the price of gasoline was rising rapidly, how did that impact the demand for transportation and the selection of cars available to consumers? Explain your answers in terms of the principles underlying demand and supply curves. 25.Describe the tools used for measuring a nation’s international trade. Use these tools to describe the United States international trade experience over the past 30 years. 26.List, define, and describe the strategies for reaching global markets. 27.Describe the purpose of the European Union as it relates to trade relations with the United States. 28.A written code of ethics is the cornerstone of any formal ethics program. What is the purpose of a code of ethics? Describe what makes a code of ethics truly effective. Describe the steps that experts say will result in an effective code of ethics? 29.Explain how a socially responsible employer creates a balanced workplace for employees. 30.Describe how organizations dedicated to social responsibility assist businesses in meeting their goals.

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