Assignment 5: Small Business Basics

(20.0 points)

 

In Section 5, you learned about stages of developing a business, company departments, success and failure factors, and ethics. Now, you'll apply what you learned.

 

 

1. 1; Why is the production department of a company important? (1-2 sentences. 2.0 points)

 

 

1. 2; Why is the finance department of a company important? (1-2 sentences. 2.0 points)

 

 

1. 3; Why is the marketing department of a company important? (1-2 sentences. 2.0 points)

 

 

1. 4; Why is the customer service department of a company important? (1-2 sentences. 2.0 points)

 

 

1. 5; If you were forming a company, which department would you create first, and why? (2-4 sentences. 3.0 points)

 

 

1. 6; Think of a company you know of that has been successful. Discuss the 3 factors of success that you think were the most important to this company, and explain why these factors were important. (Choose a different company from the one you wrote about in Assignment 1.) (3-6 sentences. 3.0 points)

 

 

1. 7; Describe the 3 factors of failure that you think can hurt a company the most, and explain why these factors are so bad for a company. (3-6 sentences. 3.0 points)

 

 

1. 8; Describe a real or made-up but possible example of a situation where an employee faces a conflict of interest. Explain at least two things the company could do to help make sure that employees aren't tempted into unethical behavior by conflicts of interest. (2-6 sentences. 3.0 points)