1. Regarding gift-giving at work: A. If you give a gift to one person, you must give a gift to everyone B. If you choose to give gifts, do it discreetly so as not to offend others C. You should never give gifts at work D. You must give gifts for boss's day and secretary's day 2. Empowerment results in increased: A. Accountability B. Profits C. Quality

1. Regarding gift-giving at work: A. If you give a gift to one person, you must give a gift to everyone B. If you choose to give gifts, do it discreetly so as not to offend others C. You should never give gifts at work D. You must give gifts for boss's day and secretary's day 2. Empowerment results in increased: A. Accountability B. Profits C. Quality

Foundations of Business (MindTap Course List)

6th Edition

ISBN:9781337386920

Author:William M. Pride, Robert J. Hughes, Jack R. Kapoor

Publisher:William M. Pride, Robert J. Hughes, Jack R. Kapoor

Chapter16: Mastering Financial Management

Section: Chapter Questions

Problem 1DQ

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Chris Dykstra, responsible for loss prevention at Electronics took a deep breath before he launched into making his case for the changes that he was proposing to the company's shoplifting policy. He knew that convincing Ross Chenoweth was going to be a hard sell. Ross, the president and CEO was the son of the founder of the local, still-family-owned consumer electronics chain based in Phoenix, Arizona. He'd inherited not only the company, but also, his father's strict moral code. "I think it's time to follow the lead of other stores," Chris began. He pointed out that most Other retailers didn't bother calling the police and pressing charges unless the thief had shoplifted merchandise worth more than $50 to $100. In contrast, Westwind currently had a zero-tolerance policy toward theft that Ross's father had put in place when he started the business. Chris wanted to replace that policy with one that prosecuted only individuals between IS and 65 who had stolen more than $20 worth of goods, and who had a previous history of theft at Westwind. In the case of first-time culprits under IS or over 65, he argued for letting them Off With a strict warning, regardless of the value of their ill-gotten goods. Repeat offenders would be arrested. "Frankly, the local police are getting pretty tired Of having to come to Our stores every time a teenager sticks a CD in his jacket pocket," Chris pointed out. "And besides, we just afford the costs associated with prosecuting everyone." Every time he pressed charges against a shoplifter who'd made Off with a $10 item, Westwind lost money. The company had to engage a lawyer and pay employees Overtime for their court appearances. In addition, Chris was looking at hiring more security guards to keep up with the workload. Westwind was already in a losing battle at the moment with mass retailers who were competing all too successfully on price, so passing on the costs of its zero-tolerance policy to Customers wasn't really an option. " Let's concentrate on catching dishonest employees and those organized-theft rings. They're the ones who are really hurting us," Chris concluded. There was a long pause after Chris finished his carefully prepared speech. Ross thought about his recently deceased father, both an astute businessman and a person for whom honesty was a key guiding principle. If he were sitting here today, he`d no doubt say that theft was theft—that setting a minimum was tantamount to saying that stealing was acceptable, just as long as you steal too much. He looked at Chris. "You know, we've both got teenagers. Is this really a message you want to send out, especially to kids? You know as well as I do that there's nothing they like better than testing limits. It's almost an invitation to see if you can beat the system." But then Ross faltered as he found himself glancing at the latest financial figures on his desk—another in a string of quarterly losses. If West-wind went under, a lot of employees would be looking for another way to make a living. In his heart, he believed in his father's high moral standards, but he had to ask himself: Just how moral could Westwind afford to be? Adopt Chris Dykstra`s proposed changes, but with a higher limit than the proposed $20 amount (say, $50 or $100), but which is still less than the cost of prosecution. In addition, make sure that the policy isn't publicized. That way, you'll reduce costs even more and still benefit from your reputation for prosecuting all shoplifters.
Chris Dykstra, responsible for loss prevention at Electronics took a deep breath before he launched into making his case for the changes that he was proposing to the company's shoplifting policy. He knew that convincing Ross Chenoweth was going to be a hard sell. Ross, the president and CEO was the son of the founder of the local, still-family-owned consumer electronics chain based in Phoenix, Arizona. He'd inherited not only the company, but also, his father's strict moral code. "I think it's time to follow the lead of other stores," Chris began. He pointed out that most Other retailers didn't bother calling the police and pressing charges unless the thief had shoplifted merchandise worth more than $50 to $100. In contrast, Westwind currently had a zero-tolerance policy toward theft that Ross's father had put in place when he started the business. Chris wanted to replace that policy with one that prosecuted only individuals between IS and 65 who had stolen more than $20 worth of goods, and who had a previous history of theft at Westwind. In the case of first-time culprits under IS or over 65, he argued for letting them Off With a strict warning, regardless of the value of their ill-gotten goods. Repeat offenders would be arrested. "Frankly, the local police are getting pretty tired Of having to come to Our stores every time a teenager sticks a CD in his jacket pocket," Chris pointed out. "And besides, we just afford the costs associated with prosecuting everyone." Every time he pressed charges against a shoplifter who'd made Off with a $10 item, Westwind lost money. The company had to engage a lawyer and pay employees Overtime for their court appearances. In addition, Chris was looking at hiring more security guards to keep up with the workload. Westwind was already in a losing battle at the moment with mass retailers who were competing all too successfully on price, so passing on the costs of its zero-tolerance policy to Customers wasn't really an option. "Let's concentrate on catching dishonest employees and those organized-theft rings. They're the ones who are really hurting us," Chris concluded. There was a long pause after Chris finished his carefully prepared speech. Ross thought about his recently deceased father, both an astute businessman and a person for whom honesty was a key guiding principle. If he were sitting here today, he`d no doubt say that theft was theft—that setting a minimum was tantamount to saying that stealing was acceptable, just as long as you steal too much. He looked at Chris. "You know, we've both got teenagers. Is this really a message you want to send out, especially to kids? You know as well as I do that there's nothing they like better than testing limits. It's almost an invitation to see if you can beat the system." But then Ross faltered as he found himself glancing at the latest financial figures on his desk—another in a string of quarterly losses. If West-wind went under, a lot of employees would be looking for another way to make a living. In his heart, he believed in his father's high moral standards, but he had to ask himself: Just how moral could Westwind afford to be? Adopt Chris Dykstra's proposed changes and show more leniency to first-time offenders. It is a more cost effective approach to the problem than the current policy, plus it stays close to your father's Original intent.
Create a Group Control System Step 1 Form into groups of three to five students. Each group will assume that another student group has been given an assignment of writing a major paper that will involve research by individual group members that will be integrated into the final paper. Each group member has to do his or her part. Step 2 Your assignment is to develop a list of rules and identify some statistics by which to control the behavior of members in that group. Brainstorm and discuss potential rules to govern member behavior and consequences for breaking those rules. Step 3. first, select the five rules that you think are most important for governing group member behavior. Consider the following situations that rules might cover: arriving late for a meeting; missing a meeting; failing to complete a work assignment; disagreements about desired quality of work; how to resolve conflicts about paper content; differences in participation, such as one person doing all the talking and someone else talking hardly at all; how to handle meetings that Start late; the use of an agenda and handling deviations from the agenda; and any other situation that your group thinks a rule should cover that your group thinks a rule should cover.
Firm size, industry competition, CEO power and discretion and the level of stress a a CEO's job entails are factors in determining what? Select one: a. How large a board of directors an organization must have b. Whether an organization can function internationally c. A CEO's compensation package d. Employees' level of job satisfaction and overall feeling of internal support of their supervisors
1. Identify how each bias can impact a manager when they are performing a performance appraisal. a) How can the bandwagon bias/ effect impact a manager when they are performing a performance appraisal? b) How can the confirmation bias impact a manager when they are performing a performance appraisal? c) How can the outcome bias impact a manager when they are performing a performance appraisal? d) How can the Placebo bias impact a manager when they are performing a performance appraisal?
1. Come up with an innovative idea2. Define one Customer Persona for this hypothesis (you can use the Customer Personatemplate)3. Describe what you think the Opportunity is i.e., what Job-to-be-done that is currently importantand not satisfied4. Describe what could be an appealing Value Proposition for this opportunity i.e., howyour Value Proposition helps in solving their Jobs-to-be-done addressing thepains/gains of the persona (you can use the Value Proposition canvas template)5. Explain what could be an MVP you could develop to test whether your valueproposition would be appealing to your target audience6. Elaborate on how you could test the demand for your MVP
01) Which of the following is not one of the four primary management functions? A) controlling B) planning C) staffing D) organizing E) leading 02) As a manager, one of Joe's duties is to present awards to outstanding employees within his department. Which Mintzberg managerial role is Joe acting in when he does this? A) leadership role B) liaison role C) monitor role D) figurehead role E) spokesperson role 5) Managers need to have three essential skills in order to reach their goals. What are these skills? A) technical, decisional and interpersonal B) technical, human, and conceptual C) interpersonal, informational and decisional D) conceptual, communication and networking E) human, informational and communication 6) According to Luthans' research, successful managers, meaning those that were quickly promoted, spent more of their time on ____than on any other activity. A) traditional management B) human resource management C) networking D)…
1. A good corporate culture is important if you want to be seen as good place to work. TrueFalse 2. Elon Musk (Tesla founder) and Stephen Hawking believe that AI is humanity’s biggest threat. TrueFalse 3. The difference between talent management and human resource management is... a. just the title; they are the same b. talent management is a more holistic approach to hiring and retaining the right people c. talent management relates to athletes and musicians, whereas human resource management represents other types of professional jobs d. talent management focuses on employee fit with the organization e. only b and d f. only a and c 4. Which of the following statements about supply chain management is true? a. It has emerged as a significant source of competitive advantage. b. It is a means to bring up the standard of living of many people all over the world. c. We have made most of the gains we can make in SCM globally. d. All of the above e. Only a…
Please Answer True or False 1 Product managers are often responsible for driving innovation within their organizations. 2 Product innovation is a team sport, involving specific people throughout an organization. 3 There might be aneed to tap into the potential for inspiration your sales, support, marketing, HR, even legal teams might experience. 4 A company can reap benefits by innovating its external processes, how the company gets market feedback, or even the way it arranges the office. 5 One great way to tap the collective creativity across your company is to show them the things your team is trying with your competitors' products. 6 The product management teams often overlook the wealth of perspectives and experiences they have right in their own organizations. 7 The Sales department sees your market a little differently from your marketing team, which has a different perspective from your support teams, and everyone sees things differently from engineering and design. 8 Sometimes…
1. TNT Net is in the computer industry, where innovations are common. The employees are highly trained, well educated, and hard working. They are under a great deal of stress and TNT Net is concerned that productivity and job satisfaction will decline. a. Briefly describe technological uncertainty that employees are dealing lies under which factor? b. One of your employees is very stressed out as a result of being asked to assume too many roles in his job: which source of stress is this? c. In an attempt to recognize stress early, you should be aware of what kind of symptoms?
LEAD.300.C1 Management and Leadership Lessons Warrick, D.D. (2017) What leaders need to know about organizational culture. Kelly School of Business. Frost, A., & Purdy, L., Introductory note on managing people in organizations. Ivey Publishing, (Read pp 17-20, Power) Krattenmaker, T. (2000) What’s your company’s culture? Harvard Management Communication Letter. Birkinshaw, J., & Gibson, C. B. (2004). Building an ambidextrous organization. Advanced Institute of Management Research Paper, (003). To do: Wk 4 Post One Important Thing You Learned After you have completed the reading above, you need to briefly state one important thing you learned about a leader's influence on organizational culture. State why this key learning is important to you.
20. What type of relationship does an expert or specialist advising a manager at the same level have ? a. Lateral relationship b. Vertical relationship c. Diagonal relationship d. Top down relationship