Business Questionaire

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Business Now: Change Is the Only Constant Review Questions 1. What factors contribute to the rapid pace of change in business? Is the pace likely to accelerate or decrease over the next decade? Why? 2. What role does entrepreneurship play in the economy? Who stands to gain from the success of individual entrepreneurs? How do other parties benefit? 3. When did American business begin to concentrate on customer needs? Why? 4. How do nonprofit organizations compare to businesses? What role do nonprofits play in the economy? How do they interact with businesses? 5. What are the factors of production? How can economies grow when one or more of the factors is weak? 6. What are the 5 dimensions of the business environment?…show more content…
Then work together to figure out how you can change the product so that it better meets customer needs. Consider changing everything from the product features to the advertising venues. Write a paragraph that describes the revamped product, and draft a new slogan. Share your results with the class. Case Connections Wal-Mart: Angel or Demon? You Decide . . . For better or for worse, Wal-Mart dominates the retail industry. With annual revenue of more than $315 billion, Wal-Mart ranks No. 2 on the Fortune 500 list of the largest U.S. corporations. Wal-Mart is also the largest corporate employer in the nation, with more than 1.3 million people on its payroll (only the federal government employs more people). On the global front, Wal-Mart operates nearly 3,000 international stores, buys products from 70 countries, and generates about 20% of its sales from abroad. Given Wal-Mart’s aggressive expansion plans, those numbers are only likely to grow. But beyond the basic facts, general agreement about Wal-Mart ends. Supporters portray Wal-Mart as a solid corporate citizen that fuels economic growth, while detractors criticize every dimension of Wal-Mart operations. The key arguments: Wal-Mart supporters: • Wal-Mart boosts the standard of living for its customers by offering a plethora of quality products at the lowest possible prices. And by forcing its suppliers to become more efficient, Wal-Mart drives greater productivity and
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