Questions:
1. A change in human resources can have a major impact on businesses and our daily lives. List two demographic changes that will occur in the future. Provide an example for each change, and describe how these changes will transform American business and affect the American workforce.
2. There are many reasons for changes to be made to our plans to reach our goals in life. In this instance, consider how macroeconomics and microeconomics impact our daily lives. Describe two economic examples of issues that affect our decision-making processes and that may change our quality of life.
3. Identify and discuss three of the five ways we measure our economic performance. Research and analyze each, and answer the following question: Are the three you selected showing good or poor results?
4. Describe the four factors for production that influence a country's standard of living and ultimately a person's quality of life. Explain why each of these factors is the driving force behind economic success.
5. You are the CEO of ABC Dress Shirt Corporation. Competition is reducing your market shares and, therefore, reducing your profits. One possible solution is to outsource the production to a foreign country to reduce the cost. How will you outsource? What are the key benefits to your company? What are risk factors that cause concerns?
6. Refer to Exhibit 4.5 on page 53 of your textbook. Select three examples, and judge the actions of these companies as either legal and unethical, legal and ethical, illegal and ethical, or illegal and unethical? Support your judgments for each company selected.
7. Why would a country eliminate trade restrictions and encourage free trade? Using the European Union as an example, identify key changes that took place to encourage free trade.
8. What are the differences between corporate responsibility and corporate philanthropy? Explain how a business benefits when it has an impact on the community.
Your response should be at least 200 words in length. You are required to use at least your textbook as source material for your response. All sources used, including the textbook, must be referenced; paraphrased and quoted material must have accompanying citations.
Course Textbook
Kelly, M., & McGowen, J. (2012).
BUSN 4. Mason, OH: South-Western