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Introduction to Business - Assignment 1 | BUS 005, Assignments of Introduction to Business Management

Solano Community CollegeIntroduction to Business Management

Material Type: Assignment; Class: Introduction To Business; Subject: Business; University: Solano Community College; Term: Fall 2008;

Typology: Assignments

Pre 2010

Uploaded on 08/18/2009

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BUS 005 Homework #1
Page 1
BUS 005 – Intro To Business
Homework Assignment #1
August 29, 2008
Due: September 3, 2008
50 Points
Name_______________________________
A. HOW MUCH PROFIT? (10 POINTS)
The text defines profit as “the amount a business earns above and beyond what it spends for
salaries and other expenses.” Choose a large corporation representing each of the following types of
companies. Each spring, Fortune magazine publishes a comprehensive listing of the largest U.S.
corporations along with annual income, profit, employees, etc. There are several financial references on
the Web, such as www.moneycentral.msn.com/investor or www.marketwatch.com. You can also find the
information on each corporation’s Web site. Using the above profit definition, how much profit as a
percentage of sales do you think each corporation earns? In other words, out of every dollar a company
earns, how much does it keep?
1. AUTOMOBILE MANUFACTURER
Corporation _____________________ Percent Estimated Profit ____________
2. GROCERY CHAIN
Corporation _____________________ Percent Estimated Profit ____________
3. AIRLINE
Corporation _____________________ Percent Estimated Profit ____________
4. COMPUTER COMPANY
Corporation _____________________ Percent Estimated Profit ____________
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BUS 005 Homework #

BUS 005 – Intro To Business

Homework Assignment

August 29, 2008

Due: September 3, 2008

50 Points

Name_______________________________

A. HOW MUCH PROFIT? (10 POINTS)

The text defines profit as “the amount a business earns above and beyond what it spends for salaries and other expenses.” Choose a large corporation representing each of the following types of companies. Each spring, Fortune magazine publishes a comprehensive listing of the largest U.S. corporations along with annual income, profit, employees, etc. There are several financial references on the Web, such as www.moneycentral.msn.com/investor or www.marketwatch.com. You can also find the information on each corporation’s Web site. Using the above profit definition, how much profit as a percentage of sales do you think each corporation earns? In other words, out of every dollar a company earns, how much does it keep?

1. AUTOMOBILE MANUFACTURER

Corporation _____________________ Percent Estimated Profit ____________

2. GROCERY CHAIN

Corporation _____________________ Percent Estimated Profit ____________

3. AIRLINE

Corporation _____________________ Percent Estimated Profit ____________

4. COMPUTER COMPANY

Corporation _____________________ Percent Estimated Profit ____________

BUS 005 Homework #

B. STANDARD OF LIVING COMPARISON (10 POINTS)

Is the standard of living different in capitalist, socialist, and communist economies? Which economic system provides the highest standard of living? One way of answering these questions is by comparing economic data you might find in the library or on the Internet. (Hint: try the CIA Web site.) Choose one capitalist country, one socialist country, and one communist country. Use the following chart to record your findings.

CAPITALIST

COUNTRY

SOCIALIST

COUNTRY

COMMUNIST

COUNTRY

Country Chosen

Gross Domestic Product

Consumer Prices

Unemployment Rate

Average Income

Average Education

BUS 005 Homework #

Think also of the economic potential of two-income families with no children. These young urban professionals are stereotyped as driving fancy sports cars, living in elaborately decorated apartments, and enjoying the good life. There is some truth in that image. On the other hand, such couples tend to work long hours and seem to have no time for starting a family.

The tensions of having two-income families plus the social changes that have happened over the last 25 years or so have led to divorce and the phenomenon called the single-parent family. The number of households headed by a woman with one or more children has doubled since 1970. There are about 6 million such families, and most of them live in poverty. Another 800,000 single-parent households are headed by a man. These are the statistics. What do they mean for business?

Discussion Questions…

  1. What effects have the changes in family structure had on businesses thus far? Think of the products that have been designed for couples with no children and for individuals living alone. Think also of the working woman phenomenon. What does that mean in the long run for businesses?
  2. Couples are having fewer and fewer children, and are beginning to have children later. What effect will these changes have on schools and businesses?
  3. What is the significance of the fact that two of three of the married couples with no children at home are over 50? What market opportunities does that create?
  4. What is the relationship between the breakup of the family and poverty in the United States?