UNDERSTANDING BUSINESS (LL/ACCESS)
13th Edition
ISBN: 9781264671656
Author: Nickels
Publisher: MCG
expand_more
expand_more
format_list_bulleted
Question
Chapter 7, Problem 1DCS
Summary Introduction
To discuss: The career planning with a SWOT analysis.
Introduction: SWOT analysis identifies a company’s competitive position, by measuring strengths, weaknesses, opportunities and threats of the company.
Expert Solution & Answer
Want to see the full answer?
Check out a sample textbook solution
Students have asked these similar questions
What questions do you normally ask to have a successful career? Explain.
1. Could writing a conventional business plan ever cause more harm than good? Explain your answer?2. If you wanted some assistance in setting up and running a new business, you might look at business incubators as a solution. What kind of assistance would you consider the most valuable?3. Given the risks involved in starting any company, should an aspiring entrepreneur investigate all possible failure scenarios and develop action plans to avoid these potential outcomes? Explain your answer.4. How do autocratic, democratic, and laissez-faire leadership styles differ?5. Ethical considerations. Apart from meeting the company’s future talent needs, do managers have a personal ethical obligation to help their employees develop and advance in their careers? Explain your answer.6. What are the advantages and disadvantages of the unstructured organizational model?7. Suppose you are the marketing manager of the credit-card department of a financial institution. Your objective is to support the…
Reaction to discussion below.
Do you agree or disagree?
Any additional thoughts?
It is important to understand that for a business to succeed, being motivated and hardworking does not guarantee a good positive outcome for the company. There are other key factors that have to be in place in order to put the company on a path for success. These factors include effective planning and decision-making with a systematic approach that considers the available information, the goals and objectives of the organization, and the potential outcomes of different decisions.
One of the companies I admire the most today is Apple. I because of how it started and all the changes they had to go through to become the company they are today. Apple is well-known for its innovations in hardware, software, and services. Thanks to them, it grew from some 8,000 employees and $7 billion in revenue in 1997, the year Steve Jobs returned, to 137,000 employees and $260 billion in revenue in 2019. Much less well…
Chapter 7 Solutions
UNDERSTANDING BUSINESS (LL/ACCESS)
Ch. 7.1 - Prob. 7.1AQCh. 7.2 - Prob. 7.2AQCh. 7.2 - Prob. 1TPCh. 7.2 - Prob. 2TPCh. 7.2 - Prob. 3TPCh. 7.3 - Prob. 7.3AQCh. 7.3 - Prob. 4TPCh. 7.3 - Prob. 5TPCh. 7.3 - Prob. 6TPCh. 7.3 - Prob. 7TP
Ch. 7.5 - Prob. 7.5AQCh. 7.5 - Prob. 7.5BQCh. 7.5 - Prob. 7.5CQCh. 7.5 - Prob. 1MEDCh. 7.6 - Prob. 7.6AQCh. 7.6 - Prob. 8TPCh. 7.6 - Prob. 9TPCh. 7.6 - Prob. 10TPCh. 7 - Prob. 1CECh. 7 - Prob. 2CECh. 7 - Prob. 3CECh. 7 - Prob. 4CECh. 7 - Prob. 5CECh. 7 - Prob. 1CTCh. 7 - Prob. 2CTCh. 7 - Prob. 3CTCh. 7 - Prob. 4CTCh. 7 - Prob. 1DCSCh. 7 - Prob. 2DCSCh. 7 - Prob. 3DCSCh. 7 - Prob. 4DCSCh. 7 - Prob. 5DCSCh. 7 - Prob. 1PPTCh. 7 - Prob. 2PPTCh. 7 - Prob. 3PPTCh. 7 - Prob. 1VCCh. 7 - Prob. 2VCCh. 7 - Prob. 3VC
Knowledge Booster
Similar questions
- Replace this text with your response to the following in 750–1,050 words (10–14 paragraphs): For this prompt, consider your personal and professional goals, including (but not limited to) such topics as self-enrichment (health, relationships, etc.), family life, social awareness/social change, finances, personal achievements, professional/career goals, leadership, etc. After considering these topics, address the following: Identify three to five things that you want to work on related to your personal and professional success. Describe the steps you will take to address each of these ideas. Explain how you will accomplish these steps (i.e., what is your plan?). Identify who can help or support you with these steps. Determine by when you will accomplish these steps (i.e., when is each due?). Based on your responses in items a–e, compose one SMART goal for each of the things you identified that you want to work on related to your personal and professional success.arrow_forwardWhat are some of the key conversations that you need to have with your managers regarding your personal growth? Note: Make sure you select all of the correct options—there may be more than one! How does my current role contribute to my professional development? What is the end outcome of my activities? How does my work contribute to the larger purpose of the organization? What are my deliverables and how do I achieve my targets?arrow_forwardImagine two failure scenarios for a business of your own in Afghanistan. How do you think you would respond to the threat of failure? How do you think you’ll be able to take the lessons learned from your failures and use them to attain more success in the future? Please provide accurate answers with the right arguments.arrow_forward
- magine that you have just accepted a leadership position with a medical imaging equipment company. The organization's financial performance has been worsening and its market share slipping, which is why the company hired you to come in and make some changes. You have been given the authority to do whatever you need to do to improve the company's performance. After collecting a lot of information and speaking with a wide variety of employees, you have determined that the biggest cause of the company's underperformance is that its culture is too complex and consensus-oriented, which makes decision making too slow. The first thing you decide to do is to change the culture. What type of culture do you want to adopt? How will you change the culture? What will you do to reinforce the changes you suggest (e.g., staffing, rewards, performance feedback)?arrow_forward1. Your friend has a small business and comes to you for advice on how to evaluate and pick between projects, keeping their recoupment period in mind. She wants your input, knowing you are in a finance class. How would you advice her and are there any pros or cons that you will caution her about when using this method?arrow_forwardThe Situation: Imagine that you own a small software company. The company currently has three full time employees, including yourself as the CEO. There is one person (software developer) who writes software based on specifications provided by you. There is one person (testing and support) whose job it is to test new software and to help customers find solutions to problems they may run into with the software product. You have determined that you can leverage your existing code to create a new product which will result in a significant increase in sales. In order to capitalize on this, you will need to expand software development, testing, and customer support. However, the new software has a limited lifetime in the marketplace, and will be obsolete in two years. You can hire locally, either full time or contract, for the 3 new positions. It will require two software developers and one new support position. A typical cost for full time positions would be $40,000 to $60,000 per year,…arrow_forward
- ENTREPRENEURS FACE A MORE CERTAIN SET OF POSSIBILITIES RATHER THAN PEOPLE IN OTHER TRADITIONAL JOBS. Select one: a. False O b. Truearrow_forwardJanice just graduated college, she’s ready to head out on her own and get that first job, and she’s through her first interviews. She receives an offer of a $28,000 salary, including benefits from COLLEGE CORP, from an entry-level marketing position that seems like a perfect fit. She is thrown off by the salary they are offering and knows that it is lower than what she was hoping for. Instead of panicking, she takes the advice of her mentor and does a little research to know what the market range for the salary is for her area. She feels better after doing this, knowing that she was correct and the offer is low compared to the market rate. After understanding more about the offer and the rates, she goes back to the HR representative and asks for her preferred rate of $32,500, knowing the minimum that she would accept is $30,000. Instead of going in for her lowest amount, she started higher to be open to negotiations with the company. She also sent a note regarding…arrow_forwardImagine one or more failure scenarios for a business of your own. How do you think you would respond to the threat of failure? How do you think you’ll be able to take the lessons learned from your failures and use them to attain more success in the future?arrow_forward
- critical thinking: Imagine one or more failure scenarios for a business of your own. How do you think you would respond to the threat of failure? How do you think you’ll be able to take the lessons learned from your failures and use them to attain more success in the future?arrow_forwardFor this assignment, you are asked to reflect on your experience collecting information and writing up your Literature Review for your research study. Research Topic: Factors influencing an employees decision to leave their current employment in the banking industry? You are to follow Gibb’s Reflective Cycle as your guide in laying out your reflection.arrow_forwardExplain why it is important to factor in risks & rewards to your business plan.arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
Understanding BusinessManagementISBN:9781259929434Author:William NickelsPublisher:McGraw-Hill Education
Management (14th Edition)ManagementISBN:9780134527604Author:Stephen P. Robbins, Mary A. CoulterPublisher:PEARSON
Spreadsheet Modeling & Decision Analysis: A Pract...ManagementISBN:9781305947412Author:Cliff RagsdalePublisher:Cengage Learning
Management Information Systems: Managing The Digi...ManagementISBN:9780135191798Author:Kenneth C. Laudon, Jane P. LaudonPublisher:PEARSON
Business Essentials (12th Edition) (What's New in...ManagementISBN:9780134728391Author:Ronald J. Ebert, Ricky W. GriffinPublisher:PEARSON
Fundamentals of Management (10th Edition)ManagementISBN:9780134237473Author:Stephen P. Robbins, Mary A. Coulter, David A. De CenzoPublisher:PEARSON
Understanding Business
Management
ISBN:9781259929434
Author:William Nickels
Publisher:McGraw-Hill Education
Management (14th Edition)
Management
ISBN:9780134527604
Author:Stephen P. Robbins, Mary A. Coulter
Publisher:PEARSON
Spreadsheet Modeling & Decision Analysis: A Pract...
Management
ISBN:9781305947412
Author:Cliff Ragsdale
Publisher:Cengage Learning
Management Information Systems: Managing The Digi...
Management
ISBN:9780135191798
Author:Kenneth C. Laudon, Jane P. Laudon
Publisher:PEARSON
Business Essentials (12th Edition) (What's New in...
Management
ISBN:9780134728391
Author:Ronald J. Ebert, Ricky W. Griffin
Publisher:PEARSON
Fundamentals of Management (10th Edition)
Management
ISBN:9780134237473
Author:Stephen P. Robbins, Mary A. Coulter, David A. De Cenzo
Publisher:PEARSON