What are at least two reasons the sole proprietorship is such a popular form of ownership for new firms

Partial credit may be awarded on answered questions. Submit this document, populating your answers below each of the questions you select. You should work independently on this exam and should not discuss it with your classmates. While you should feel free to use your book and your lecture notes, be careful to answer all questions IN YOUR OWN WORDS. If there is evidence of plagiarism or collaboration in any of your answers, you will receive a zero grade for the exam. Yield - a price of yields can change any time according to market conditions. Amount – is the value that bond is at maturity when a company sells them (Cainelli, 2007). 3) Compare and contrast fiscal policy and monetary policy. Discuss how each of these approaches can be used to influence the state of the economy.

Fiscal policy is where the government cuts down or changes expenses and tax rates to access and control the country’s economy. On the other side of the fiscal policy tax. This policy states that reducing taxes tends to stimulate economic increase. If there is a reduction in taxes in a country Barry will get more money on his account. In this money is used it means that companies have to go on an extra mile to produce more goods and services to cover that loss. 4) Compare the assumptions Theory X makes about employees with those of Theory Y. 6) Define offshore outsourcing and explain two pros and two cons. Offshore outsourcing is a kind of business process outsourcing, is the export of technological products and services in the Information communication field and related jobs from the United States of America and other developed countries in the world to regions of the world where they practice both political stability and lower tax savings.

Prons of offshore outsourcing are; They engage more on core processing rather than supporting one. Outsourcing the supporting process gives the company more time to concentrate on business issues thus giving the company high income. Expertise in making goods and services – items from outsourcing vendors are made by people who have high skills in the manufacturing industry producing high-quality goods and services. g. a company of producing alcohol merging with a company producing washing soaps and detergents. Horizontal merger – is the merger between two companies in the same supply chain and productions of goods and services. e. g. Strategies of reaching global markets are; exporting which is always a low-risk option, a good example is a coal export company that deals more with searching for marketing on foreign countries to market its products and services.

Licensing and franchising this allows having an access to different marketing tariffs. Contract manufacturing this gives a person able to select a company that will produce quality goods and services. Joint venture and strategic alliances which help in getting profits of the company or an organization. 11) Describe the basic contributions of Maslow and Herzberg to the understanding of worker motivation and then compare how they are similar and how they are different. How does the "invisible hand" philosophy suggested by Smith benefit society as a whole? 16) Dramatic changes in the U. S. labor force will make the work of human resource managers more interesting, and more difficult, in the future. Identify and describe three trends that will challenge future human resource managers.

17) Explain and provide at least one example of how sociocultural differences can create trade difficulties in world markets. 20) Explain the difference between the current, fixed, and intangible assets. Give two examples of each of these different types of assets. 21) Explain the difference between a firm's formal organization and its informal organization. Why are both types of organization important to managers? Firm's formal organization is an organization with rules, structures, and procedures which are set to govern a firm. These rules are set to make sure that a company or an organization has achieved its goal. 24) Explain the significance of "price" in a free-market economic system. A free market economy is a type of economy in which the sharing of resources is controlled by the supply and demand of the resources.

The price's very important in free market economic system because it determines the distribution and the location of the resources. It acts as the signal for shortages of resources supply in the markets. For example, when the price of a certain good or commodity goes down the supply-demand also lowers thus making companies or organization make losses. Job employment. – Franchising has created job opportunities for American citizens. The rate of employment has increased in the country, this is because the local citizens have been funded and being helped to start many local businesses thus increasing income in the country. 27) How does a limited liability company (LLC) compare to an S corporation? What are two major advantages and two major disadvantages of an LLC? 28) Identify and define the four key functions of management.

Four key functions of management include; Planning – it's very important in a management because the manager is supposed to make a detailed plan which will make the company or the organization achieve its goal. Computer-based training – in this type of training there is the use of technological devices such as computers to pass the information from the instructor to the learners who are employees. Video training – the video is recently used and its most suitable method of training it involves several styles like animations, live control, screen recorder, and others. Videos are always accessible and can afford to produce. 30) Identify and describe two major tactics used by unions and management when collective bargaining efforts break down. Two major tactics which are used by the unions and management when collective barging efforts break down are strikes and collective bargaining.

The indirectt deposi,t you usually credit your account with cash in banks or agents. This method is simple and secure to use because the devices and computers can be accessed quickly and also requiresfewers skills to conduct the transactions. 32) Identify and discuss three controversial employee-management issues. What are the implications for management? 33) Identify the six conditions that must be met for a contract to be legally binding. Conditions for meeting contracts to be legally binding are; Contracts are associated with doing business. A brand name isa name which is given out by the markers to given goods and services. A brand equity means a value that a company makes from a givengoods with a recognized name. This helps the company recognize and determine the value which is given out by a product thus it's easy to determine loss and profit in a given company or an organization.

37) What is a matrix organization? What are two advantages and two disadvantages associated with this type of organization? 38) What is a PERT network? What is a critical path? Why is it important to determine the critical path? 39) What is demography? Identify two demographic trends in the United States and discuss how they will impact U. S. Logistics resources is anotherissues which a logistics expert can come across. Business processing and how it can be improved is a common issue which canbe met by a logistics expert this process involves of administering and makinga business structure which can help the business get more profits andsuccessd in marketing. Government regulations on business. 42) What is the difference between a general partner and a limited partner? Give an example of a situation in which a person would want to be a limited partner.

A general partner is a one who joins a business and with unlimited liabilitythis partners can access unlimited liabilities in the business while limited partner is the one who liabilities are limited to the cash of the investments. Dow Jones Utility. Marketing intermediaries can provide utility in different types of utility. In an age where a company is able to start up anonlinee shop with e-commerce websites to get high profits in using the utilities. 47) What type of law is tort law? Explain what a tort is as well as the meaning of negligence. Tort law iswrongdoings thatise done by people to harm others. It allows a company to corporate resources more andmakese good strategic plans of the business. A firm can segment consumer markets by; Behavioral variables, if someone is working onthea same chain with many stores and an online shop is supposed to use a general rule.

Psychographicc variables are end consumers that may affect the purchase of the products and services. Profiling variablesdeals with test scores. 50) Your company has developed a new nutritious snack and you are part of the team created to develop the promotion mix for the new product. Hill, C. , & Jones, G. Theory of strategic management. Mason, Ohio: South-Western. high-quality typically low-risk able employee-employer supply-demand instructor-led Computer-based afford high-quality success business the the for grow the a the tax the an is a forecasted leader make the The purchase the the serious problems a a ease to for having the for the on understanding are control the the price's a companies support a to the for detailed the the the the the a in The economic a are an fewer give the a good a is given a the issue be a this partner a a an the a The utility result allow makes the deal , , , , , , , , , , , the agreement in managing the company.