Intro to business
This is a 4 parts assignment. Each part will need to indicate the part # title. I.e., part 1: franchise. No words limit but make sure to answer all the questions correctly.
Textbook info: Pride, Hughes, Kapoor. Foundations of Business 6e, Cengage, 2018 ISBN 1337386928
Part 1: franchises
Part of the discussion in chapter 5 centers around franchises. From your perspective, discuss the following:
· What do you feel is the BIGGEST advantage of becoming part of a franchise?
· What do you feel is the BIGGEST drawback of becoming part of a franchise?
· If you had to pick a franchise to start, what would it be? Please note the franchise and give some detail on why you chose that franchise.
Part 2: Flexible Organizations
In chapter 7 of the text, we look at organizations in detail. On page 104 of the text the concept of “span of management” is discussed. The discussion centers around wide and narrow spans of management. Based off this, discuss the following:
· Would you rather have a wide or narrow span of management?
· What happens if you have too many employees reporting to you?
· What happens if you have too few employees reporting to you?
· What is the ideal number of direct reports to have as a manager?
Discuss each of these four areas in some depth.
Part 3: Human Resources
You are in the process of hiring a sales associate at a shoe store. What traits would you want this person to exhibit for them to be successful in this role? List the top 5 traits you can think of and why.
Part 4: Marketing
Chapter 11 of the text discusses the importance of building customer relationships through effective marketing. There are two questions I would like you to touch on this week.
1. Why do marketers need to understand buying behavior?
2. Is it a good strategy to focus most marketing efforts on the most profitable customers?