BUS 2000 Chapter 1-4 Review

Question 1

What is BUS 2000 about?

Answer 1

1. Five pillars and ESG
2. Big picture concept
3. Problem solving: Conducting the research project

Question 2

What are the Five Pillars?

Answer 2

1. Ethical decision making
2. Communication skills
3. Quantitative analytical skills
4. Information literacy competencies
5. Global business/management

Question 3

What does ESG stand for?

Answer 3

Environmental, Social, Governance

Question 4

What is the Big Picture Concept? What are the 5 functional areas?

Answer 4

Interdisciplinary understanding of business. 1. Managerial economics
2. Accounting/finance
3. Marketing and behavioral science
4. Computer information system/operations research
5. Management/organization behavior

Question 5

What is the course grade makeup?

Answer 5

Lecture - 60% of course grade
Recitation - 40 of course grade
Grading policy: 80/82 average for large lecture/recitation

Question 6

What is the research process? (Hint: 4 parts)

Answer 6

1. Defining the problem and research objectives
2. Developing the research plan for collecting information
3. Implementing the research plan - collecting and analyzing the data
4. Interpreting and reporting the finds

Question 7

What are the three fundamental research designs?

Answer 7

1. Exploratory
2. Descriptive
3. Casual

Question 8

What is Exploratory research design?

Answer 8

This research is qualitative in nature rather than quantitative. Individual and focus group interviews are useful methods to collect qualitative data.

Question 9

What are the objectives of the exploratory research design?

Answer 9

1. To find out the nature of the problem: Needs and wants of customers.
2. To define the problem: The possible causes of declining market share, and to formulate the hypotheses.

Question 10

What is primary data collection?

Answer 10

Information collected for the specific purpose at hand. Must be relevant, accurate, current, and unbiased.

Question 11

What is secondary data?

Answer 11

Information that already exists somewhere, available more quickly and at a lower cost than primary data.

Question 12

What are some examples of secondary data?

Answer 12

1. Internal databases
2. Commercial data services
3. Government sources

Question 13

What is descriptive research design?

Answer 13

Quantitative data which may include demographic profile of respondents, behavioral purchasing data, among others.

Question 14

What are the objectives of descriptive research design?

Answer 14

1. To describe quantitatively the problems identified by the exploratory research
2. To get better understanding of the scope and nature of the problems

Question 15

What is casual research design?

Question 16

In summary

Question 17

What are the recent events?

Question 18

A friend offers to share with you a term paper she prepared for her BUS 2000 class last semester. When you tell her that it wouldn’t be fair, she reminds you of your habit of reading an entire Harry Potter book at the local bookstore without paying for the book.

Which ethics-based question would be the most helpful in evaluating these situations?
A) Am I acting fairly?
B) Who wins and who loses?
C) Will I get caught?
D) Is it legal?

Answer 18

A) Am i acting fairly?