Introduction to Business

Wednesday November 1 3, 2013 Homework Chapter 1 1 Professor: Mr. B Introduction to Business Rudy V. Garcia Chapter 1 Who will be the various stakeholders of your business? Pedestrians All High School, Middle School and Elementary Schools students around my neighborhood Churches Attendants Charter Schools attendants All local commerce of my area of performance What are some of the things you can do to benefit your community other than providing Jobs and tax revenue? Provide affordable prices Use local providers Do not use products that contain G. M. O (Genetically Modify Organisms) OfferScholarship programs for high scholars with low income How will you establish good relationships with your suppliers? With your employees The best I can offer is a relationship based in honesty and integrity. Also I will take the time to the needs of my employees and work to meet those needs. Do you see any conflict between your desire to be as profitable as possible and your desire to pay employees a living wage? I believe that we reap what we saw. If I am truly involve with the well-being of my employees; they will not only work tor what I pay them tor; they will engage hemselves in the company and be more profitable.Which of the environmental factors outlined in this chapter might have the biggest impact in your business? How? Competing by restructuring and empowerment will be the most difficult area I will have to deal with more than anything. I believe building a team that moves according to the needs of the business is a hard but possible goal; the process to bring together people to work towards one specific task requires time, money and patience. Chapter 2 U. S. Supreme court ruled that cities could have school voucher programs that give oney directly to parents, who could then choose between competing schools, public or private.The idea was to create competition among schools. Like business, schools were expected to improve their services to win students from competitors . The result would be improvement in all schools, private and public, to benefit many students. Do you believe economics principles like competition apply in the both private and public organizations? Be prepared to defend your answer. Yes, I do. Competition opens the door for creativity. I believe that when people immerge themselves into a ompetitive environment they tend to get more creative and also work hard to achieve a goal.Are there other public functions that might benefit from more competition, including competition from private firms? The Law System Transportation Education System Many people say that businesspeople do not do enough for society. Some students choose to go into the public sector instead of business because they want to help others. However, businesspeople say that they do more to help others than nonprofit groups do because they provide Jobs for people rather than giving them charity. Furthermore, they believe businesses create all the wealth that nonprofit groups distribute.How can you find some middle ground in this debate to show that both businesspeople and those who work for nonprofit organizations contribute to society and need to work together more closely to help people? Both are important and complement each other. Business provide the way of creating wealth and nonprofit make society remember to reach out for the less fortunate. Businesses push people to achieve success and thru nonprofit we are reminded that the ultimate level of uccess is achieve by a persona only when this persona gives back to his/her community.How could you use the concepts of Adam Smith to help illustrate your position? Well if we can guide business to be more involve in the community they are surrounded by; business will create more wealth that will impact the lives of the community at the same time. Government will exist only to promote and incentive companies to give back to the community that have make them successful. Chapter 3 About 95% of the wo rld's population lives outside the United States, but many U. S. ompanies, especially small businesses still do not engage in global trade.Why not? Do you think more small businesses will participate in global trade in the tuture. 7 Why or why not? Global trade demands to spend lot money in resource such as advertisement, licenses, taxes, etc. These expenses make the process hard for small businesses to Join global trade. If the governments around the world approve laws that allow small business to enter in the global trade at a low cost I believe there is chance we can see small companies entering in global trade market.Countries like he United States that have a high standard of living are the referred to as industrialized nations. Countries with a lower standard of living and quality of life are called developing countries (or underdeveloped or less developed countries) what factors prevent developing nations from becoming industrialized nations? One of the mayor problems is the lack of resources such as technology, leadership, not production orientated, disadvantage in global trading, they not own bigger enough ways of massive production, corrupted law systems and economical systems.What can businesses do to prevent unexpected problems in dealing with ociocultural, economic and financial, legal and regulatory, and physical and environmental forces in global market? The best way will be to stay in touch with the needs of their client and ayes open to what the market is requiring to exist. Always being open to enter in new fields and achieve a top creativity vision that allows them to transform themselves to the market. How would you Justify the use of revenue or protective tariffs in todays global market? They lack objective and most of them are doing to elite corporations.