3. disclosed in whole or in part, without the expressed written
permission of
Strayer University.
BUS 475 Student Version 1146 (1195 6-4-2014) Final Page 2 of
21
COURSE LEARNING OUTCOMES
1. Analyze the relationship between business and society, and
the ways in which they are part of an interactive system.
2. Recommend ways stakeholders can influence the destiny of
both business and society.
3. Analyze the various primary and secondary stakeholder
groups, their roles, and relationships.
4. Analyze the multiple environments of an organization.
5. Compare and contrast the concepts of corporate social
responsibility, citizenship, and global citizenship.
6. Analyze ways ethical challenges affect the multiple functions
of business.
7. Evaluate the influences of changing economic, political,
social, cultural, and technological forces on business and
society.
8. Analyze the challenges and opportunities of socially
responsible management.
9. Use technology and information resources to research issues
in business and society.
10. Write clearly and concisely about business and society using
proper writing mechanics.
WEEKLY COURSE SCHEDULE
The standard requirement for a 4.5 credit hour course is for
students to spend 13.5 hours in weekly work. This includes
preparation, activities, and evaluation regardless of delivery
mode. Week Preparation, Activities, and Evaluation Points
1
Preparation
o Chapter 1: The Corporation and Its Stakeholders
-Activity
5. 20
75
3
Preparation
o Chapter 4: Ethics and Ethical Reasoning
o Chapter 5: Organizational Ethics and the Law
-Activity
o Go to The United States Department of Justice’s Website and
read the article titled “GlaxoSmithKline to Plead Guilty and Pay
$3 Billion to Resolve Fraud Allegations and Failure to Report
Safety Data”, dated July 2, 2012, located at
http://www.justice.gov/opa/pr/2012/July/12-civ-842.html. Be
prepared to discuss.
Activities
Evaluation
z 2: Chapters 2 and 3
20
150
4
Preparation
o Chapter 6: The Challenges of Globalization
o Chapter 7: Global Corporate Citizenship
-Activity
o Go to The Times 100 Website, and read the article titled,
“Achieving sustainability through lean production”, located at
http://businesscasestudies.co.uk/nestle/achieving-sustainability-
through-lean-production/introduction.html#axzz2eDhKNPqY.
Be prepared to discuss.
Activities
Evaluation
20
7. 20
150
7
Preparation
o Chapter 12: Technology, Organizations, and Society
o Chapter 13: Managing Technology and Innovation
-Activity
o Use the Internet or Strayer databases to research one (1)
company that has used technology to significantly improve its
business offerings. Be prepared to discuss.
Activities
Evaluation
Quiz 6: Chapters 10 and 11
20
150
8
Preparation
o Chapter 14: Stockholder Rights and Corporate Governance
o Chapter 15: Consumer Protection
Activities
Evaluation
Environment
20
280
9
Preparation
o Chapter 16: Employees and the Corporation
o Chapter 17: Managing a Diverse Workforce
Activities
11. organization based on their key roles and relationships with the
company.
3. Suggest five (5) ways in which the primary stakeholders can
influence the organization’s financial performance. Provide
support for the response.
4. Specify one (1) controversial corporate social responsibility
concern associated with your selected organization.
5. Assuming you are the leader of the most influential
stakeholder group, outline a plan to form a stakeholder coalition
to force the organization to address your chosen controversial
issue. The plan should include the key steps that you would take
to identify members for your coalition group, the major reasons
why you believe that the particular target group can help you to
accomplish your goal, and the method you would utilize to
foster collaboration among the various groups you target.
6. Assume the role as the leader of the most influential
stakeholder group, and indicate three (3) potential challenges
that you may face in encouraging stakeholders to form a
coalition to help you achieve your goals. Suggest the significant
steps that you would take in order to overcome these challenges
that you have identified. Justify the response.
7. Use at least four (4) quality references. Note: Wikipedia and
other Websites do not qualify as academic resources.
Your assignment must follow these formatting requirements:
d, using Times New Roman font (size
12), with one-inch margins on all sides; citations and references
must follow APA or school-specific format. Check with your
professor for any additional instructions.
ssignment,
the student’s name, the professor’s name, the course title, and
the date. The cover page and the reference page are not included
in the required assignment page length.
The specific course learning outcomes associated with this
assignment are:
Analyze the relationship between business and society, and
the ways in which they are part of an interactive system.
13. two (2) key factors in the organization’s external environment
that can affect its success. Did not submit or incompletely
provided explanation to support the rationale.
Insufficiently specified the nature, structure, types of products
or service of your chosen organization, and two (2) key factors
in the organization’s external environment that can affect its
success. Insufficiently provided explanation to support the
rationale.
Partially specified the nature, structure, types of products or
service of your chosen organization, and two (2) key factors in
the organization’s external environment that can affect its
success. Partially provided explanation to support the rationale.
Satisfactorily specified the nature, structure, types of products
or service of your chosen organization, and two (2) key factors
in the organization’s external environment that can affect its
success. Satisfactorily provided explanation to support the
rationale.
Thoroughly specified the nature, structure, types of products or
service of your chosen organization, and two (2) key factors in
the organization’s external environment that can affect its
success. Thoroughly provided explanation to support the
rationale.
2. Examine three (3) salient stakeholders of the chosen
organization based on their key roles and relationships with the
company.
Weight: 15%
Did not submit or incompletely examined three (3) salient
stakeholders of the chosen organization based on their key roles
and relationships with the company.
Insufficiently examined three (3) salient stakeholders of the
chosen organization based on their key roles and relationships
with the company.
Partially examined three (3) salient stakeholders of the chosen
organization based on their key roles and relationships with the
company.
Satisfactorily examined three (3) salient stakeholders of the
15. can influence the organization’s financial performance.
Satisfactorily provided support for the response.
can influence the organization’s financial performance.
Thoroughly provided support for the response.
4. Specify one (1) controversial corporate social responsibility
concern associated with your selected organization.
Weight: 5%
Did not submit or incompletely specified one (1) controversial
corporate social responsibility concern associated with your
selected organization.
Insufficiently specified one (1) controversial corporate social
responsibility concern associated with your selected
organization.
Partially specified one (1) controversial corporate social
responsibility concern associated with your selected
organization.
Satisfactorily specified one (1) controversial corporate social
responsibility concern associated with your selected
organization.
Thoroughly specified one (1) controversial corporate social
responsibility concern associated with your selected
organization.
5. Assuming you are the leader of the most influential
stakeholder group, outline a plan to form a stakeholder coalition
to force the organization to address your chosen controversial
issue. The plan should include the key steps that you would take
to identify members for your coalition group, the major reasons
why you believe that the particular target group can help you to
accomplish your goal, and the method you would utilize to
foster collaboration among the various groups you target.
Weight: 15%
Did not submit or incompletely outlined a plan to form a
stakeholder coalition to force the organization to address your
chosen controversial issue. Did not submit or incompletely
included the key steps that you would take to identify members
for your coalition group, the major reasons why you believe that
16. the particular target group can help you to accomplish your
goal, and the method you would utilize to foster collaboration
among the various groups you target.
Insufficiently outlined a plan to form a stakeholder coalition to
force the organization to address your chosen controversial
issue. Insufficiently included the key steps that you would take
to identify members for your coalition group, the major reasons
why you believe that the particular target group can help you to
accomplish your goal, and the method you would utilize to
foster collaboration among the various groups you target.
Partially outlined a plan to form a stakeholder coalition to force
the organization to address your chosen controversial issue.
Partially included the key steps that you would take to identify
members for your coalition group, the major reasons why you
believe that the particular target group can help you to
accomplish your goal, and the method you would utilize to
foster collaboration among the various groups you target.
Satisfactorily outlined a plan to form a stakeholder coalition to
force the organization to address your chosen controversial
issue. Satisfactorily included the key steps that you would take
to identify members for your coalition group, the major reasons
why you believe that the particular target group can help you to
accomplish your goal, and the method you would utilize to
foster collaboration among the various groups you target.
Thoroughly outlined a plan to form a stakeholder coalition to
force the organization to address your chosen controversial
issue. Thoroughly included the key steps that you would take to
identify members for your coalition group, the major reasons
why you believe that the particular target group can help you to
accomplish your goal, and the method you would utilize to
foster collaboration among the various groups you target.
6. Assume the role as the leader of the most influential
stakeholder group, and indicate three (3) potential challenges
Did not submit or incompletely indicated three (3) potential
challenges that you may face in
Insufficiently indicated three (3) potential challenges that you
18. Satisfactorily suggested the significant steps that you would
take in order to overcome these challenges that you have
identified. Satisfactorily justified the response.
stakeholders to form a coalition to help you achieve your goals.
Thoroughly suggested the significant steps that you would take
in order to overcome these challenges that you have identified.
Thoroughly justified the response.
7. 4 references
Weight: 5%
No references provided
Does not meet the required number of references, and / or
references are of poor quality.
Meets the required number of references; some or all references
poor quality choices.
Meets number of required references; all references high quality
choices.
Exceeds number of required references; all references high
quality choices.
8. Writing Mechanics, Grammar, and Formatting
Weight: 5%
Serious and persistent errors in grammar, spelling, punctuation,
or formatting.
Numerous errors in grammar, spelling, and punctuation.
Partially free of errors in grammar, spelling, punctuation, or
formatting.
Mostly free of errors in grammar, spelling, punctuation, or
formatting.
Error free or almost error free grammar, spelling, punctuation,
or formatting.
9. Appropriate use of APA in-text citations and reference
Weight: 5%
Lack of in-text citations and / or lack of reference section.
In-text citations and references are given, but not in APA
format.
In-text citations and references are provided, but they are only
partially formatted correctly in APA style.
21. critical for success. Provide a rationale for the response.
2. Using the three (3) key issues you selected as a benchmark,
compare and contrast the codes of conduct of two (2) similar
companies within the same industry as your chosen company.
3. Examine the extent to which the two (2) similar companies
you researched have addressed the key issues you selected.
Hypothesize two (2) potential positive outcomes for each
company if each addresses the key issues in question and two
(2) potential adverse effects if each company fails to address
these issues.
4. Propose two (2) techniques that the original company you
selected could use in order to ensure that its code of conduct
will remain relevant through years of changing economic,
political, social, cultural, and technological forces on business
and society. Next, evaluate the effectiveness of two (2) methods
that the company currently adopts in order to manage
environment issues.
5. Examine two (2) approaches that the original company you
selected has taken in order to embrace technological
advancements for innovation and thus improve business
offerings. Anticipate three (3) potential technological
challenges the company could face, and recommend one (1)
strategy that the company could use in order to eliminate or
minimize each of these anticipated challenges.
6. Specify at least one (1) one lobbying strategy that the
original company you selected has used in an effort to influence
national or local government decisions in its favor. Summarize
the issue in question, and ascertain whether or not the lobbying
effort was appropriate. Justify the response.
7. Analyze two (2) global corporate citizenship efforts of the
original company you selected, and assess the extent to which
these efforts are effective in accomplishing the company’s
goals. Examine the manner in which the two (2) global
citizenship efforts could contribute significantly to the
company’s sustainable development goals.
8. Use at least four (4) quality references. Note: Wikipedia and
23. 1. Specify, in brief, the nature, structure, types of products or
service of the business you selected. Examine the information
within the company’s code of ethical conduct, and choose three
(3) key issues from within the document that you believe are
critical for success. Provide a rationale for the response.
Weight: 10%
Did not submit or incompletely specified, in brief, the nature,
structure, types of products or service of the business you
selected. Did not submit or incompletely examined the
information within the company’s code of ethical conduct, and
did not submit or incompletely chose three (3) key issues from
within the document that you believe are critical for success.
Did not submit or incompletely provided a rationale for the
response.
Insufficiently specified, in brief, the nature, structure, types of
products or service of the business you selected. Insufficiently
examined the information within the company’s code of ethical
conduct, and insufficiently chose three (3) key issues from
within the document that you believe are critical for success.
Insufficiently provided a rationale for the response.
Partially specified, in brief, the nature, structure, types of
products or service of the business you selected. Partially
examined the information within the company’s code of ethical
conduct, and partially chose three (3) key issues from within the
document that you believe are critical for success. Partially
provided a rationale for the response.
Satisfactorily specified, in brief, the nature, structure, types of
products or service of the business you selected. Satisfactorily
examined the information within the company’s code of ethical
conduct, and satisfactorily chose three (3) key issues from
within the document that you believe are critical for success.
Satisfactorily provided a rationale for the response.
Thoroughly specified, in brief, the nature, structure, types of
products or service of the business you selected. Thoroughly
examined the information within the company’s code of ethical
conduct, and thoroughly chose three (3) key issues from within
25. within the same industry as your chosen company.
3. Examine the extent to which the two (2) similar companies
you researched have addressed the key issues you selected.
Hypothesize two (2) potential positive outcomes for each
company if each addresses the key issues in question and two
(2) potential adverse effects if each company fails to address
these issues.
Weight: 11%
Did not submit or incompletely examined the extent to which
the two (2) similar companies you researched have addressed
the key issues you selected. Did not submit or incompletely
hypothesized two (2) potential positive outcomes for each
company if each addresses the key issues in question and two
(2) potential adverse effects if each company fails to address
these issues.
Insufficiently examined the extent to which the two (2) similar
companies you researched have addressed the key issues you
selected. Insufficiently hypothesized two (2) potential positive
outcomes for each company if each addresses the key issues in
question and two (2) potential adverse effects if each company
fails to address these issues.
Partially examined the extent to which the two (2) similar
companies you researched have addressed the key issues you
selected. Partially hypothesized two (2) potential positive
outcomes for each company if each addresses the key issues in
question and two (2) potential adverse effects if each company
fails to address these issues.
Satisfactorily examined the extent to which the two (2) similar
companies you researched have addressed the key issues you
selected. Satisfactorily hypothesized two (2) potential positive
outcomes for each company if each addresses the key issues in
question and two (2) potential adverse effects if each company
fails to address these issues.
Thoroughly examined the extent to which the two (2) similar
companies you researched have addressed the key issues you
selected. Thoroughly hypothesized two (2) potential positive
27. permission of
Strayer University.
BUS 475 Student Version 1146 (1195 6-4-2014) Final Page 14
of 21
adopts in order to manage environment issues.
Weight: 11%
forces on business and society. Did not submit or incompletely
evaluated the effectiveness of two (2) methods that the company
currently adopts in order to manage environment issues.
forces on business and society. Insufficiently evaluated the
effectiveness of two (2) methods that the company currently
adopts in order to manage environment issues.
forces on business and society. Partially evaluated the
effectiveness of two (2) methods that the company currently
adopts in order to manage environment issues.
cultural, and technological forces on business and society.
Satisfactorily evaluated the effectiveness of two (2) methods
that the company currently adopts in order to manage
environment issues.
technological forces on business and society. Thoroughly
evaluated the effectiveness of two (2) methods that the company
currently adopts in order to manage environment issues.
5. Examine two (2) approaches that the original company you
selected has taken in order to embrace technological
advancements for innovation and thus improve business
offerings. Anticipate three (3) potential technological
challenges the company could face, and recommend one (1)
strategy that the company could use in order to eliminate or
minimize each of these anticipated challenges.
Weight: 11%
Did not submit or incompletely examined two (2) approaches
that the original company you selected has taken in order to
embrace technological advancements for innovation and thus
improve business offerings. Did not submit or incompletely
anticipated three (3) potential technological challenges the
company could face, and did not submit or incompletely
28. recommended one (1) strategy that the company could use in
order to eliminate or minimize each of these anticipated
challenges.
Insufficiently examined two (2) approaches that the original
company you selected has taken in order to embrace
technological advancements for innovation and thus improve
business offerings. Insufficiently anticipated three (3) potential
technological challenges the company could face, and
insufficiently recommended one (1) strategy that the company
could use in order to eliminate or minimize each of these
anticipated challenges.
Partially examined two (2) approaches that the original
company you selected has taken in order to embrace
technological advancements for innovation and thus improve
business offerings. Partially anticipated three (3) potential
technological challenges the company could face, and partially
recommended one (1) strategy that the company could use in
order to eliminate or minimize each of these anticipated
challenges.
Satisfactorily examined two (2) approaches that the original
company you selected has taken in order to embrace
technological advancements for innovation and thus improve
business offerings. Satisfactorily anticipated three (3) potential
technological challenges the company could face, and
satisfactorily recommended one (1) strategy that the company
could use in order to eliminate or minimize each of these
anticipated challenges.
Thoroughly examined two (2) approaches that the original
company you selected has taken in order to embrace
technological advancements for innovation and thus improve
business offerings. Thoroughly anticipated three (3) potential
technological challenges the company could face, and
thoroughly recommended one (1) strategy that the company
could use in order to eliminate or minimize each of these
anticipated challenges.
6. Specify at least one (1) one lobbying strategy that the
30. favor. Partially summarized the issue in question, and partially
ascertained whether or not the lobbying effort was appropriate.
Partially justified the response.
effort to influence national or local government decisions in its
favor. Satisfactorily summarized the issue in question, and
satisfactorily ascertained whether or not the lobbying effort was
appropriate. Satisfactorily justified the response.
effort to influence national or local government decisions in its
favor. Thoroughly summarized the issue in question, and
thoroughly ascertained whether or not the lobbying effort was
appropriate. Thoroughly justified the response.
7. Analyze two (2) global corporate citizenship efforts of the
original company you selected, and assess the extent to which
these efforts are effective in accomplishing the company’s
goals. Examine the manner in which the two (2) global
citizenship efforts could contribute significantly to the
company’s sustainable development goals.
Weight: 11%
Did not submit or incompletely analyzed two (2) global
corporate citizenship efforts of the original company you
selected, and did not submit or incompletely assessed the extent
to which these efforts are effective in accomplishing the
company’s goals. Did not submit or incompletely examined the
manner in which the two (2) global citizenship efforts could
contribute significantly to the company’s sustainable
development goals.
Insufficiently analyzed two (2) global corporate citizenship
efforts of the original company you selected, and insufficiently
assessed the extent to which these efforts are effective in
accomplishing the company’s goals. Insufficiently examined the
manner in which the two (2) global citizenship efforts could
contribute significantly to the company’s sustainable
development goals.
Partially analyzed two (2) global corporate citizenship efforts of
the original company you selected, and partially assessed the
extent to which these efforts are effective in accomplishing the
32. contains Strayer University Confidential and Proprietary
information
and may not be copied, further distributed, or otherwise
disclosed in whole or in part, without the expressed written
permission of
Strayer University.
BUS 475 Student Version 1146 (1195 6-4-2014) Final Page 16
of 21
Formatting
Weight: 5%
in grammar, spelling, punctuation, or formatting.
grammar, spelling, and punctuation.
grammar, spelling, punctuation, or formatting.
grammar, spelling, punctuation, or formatting.
free grammar, spelling, punctuation, or formatting.
10. Appropriate use of APA in-text citations and reference
section
Weight: 5%
Lack of in-text citations and / or lack of reference section.
In-text citations and references are given, but not in APA
format.
In-text citations and references are provided, but they are only
partially formatted correctly in APA style.
Most in-text citations and references are provided, and they are
generally formatted correctly in APA style.
In-text citations and references are error free or almost error
free and consistently formatted correctly in APA style.
11. Information Literacy / Integration of Sources
Weight: 5%
Serious errors in the integration of sources, such as intentional
or accidental plagiarism, or failure to use in-text citations.
Sources are rarely integrated using effective techniques of
quoting, paraphrasing, and summarizing.
Sources are partially integrated using effective techniques of
quoting, paraphrasing, and summarizing.
Sources are mostly integrated using effective techniques of
34. presentation.
2. Summarize your response to each of the criteria in
Assignment 2 – one (1) slide per criterion, for a total of seven
(7) slides.
3. Provide a summary slide which addresses key points of your
paper.
4. Narrate each slide, using a microphone, and indicate what
you would say if you were actually presenting in front of an
audience.
Your assignment must follow these formatting requirements:
slide and three to four (3-4) relevant graphics (photographs,
graphs, clip art, etc.), ensuring that the presentation is visually
appealing and readable from 18 feet away. Check with your
professor for any additional instructions.
student’s name, the professor’s name, the course title, and the
date. The title slide is not included in the required slide length.
The specific course learning outcomes associated with this
assignment are:
social, cultural, and technological forces on business and
society.
in business and society.
proper writing mechanics.
Grading for this assignment will be based on answer quality,
logic / organization of the paper, and language and writing
skills, using the following rubric. Points: 100 Assignment 3:
Presentation of Assignment 2 Criteria Unacceptable Below 60%
F Meets Minimum Expectations 60-69% D Fair 70-79% C
Proficient 80-89% B Exemplary 90-100% A
1. Provide a title slide (as indicated in the format requirements
below) followed by a slide with an introduction to your
presentation.
36. Partially summarized your response to each of the criteria in
Assignment 2 – one (1) slide per criterion, for a total of seven
(7) slides.
Satisfactorily summarized your response to each of the criteria
in Assignment 2 – one (1) slide per criterion, for a total of
seven (7) slides.
Thoroughly summarized your response to each of the criteria in
Assignment 2 – one (1) slide per criterion, for a total of seven
(7) slides.
3. Provide a summary slide which addresses key points of your
paper.
Weight: 5%
Did not submit or incompletely provided a summary slide which
addresses key points of your paper.
Insufficiently provided a summary slide which addresses key
points of your paper.
Partially provided a summary slide which addresses key points
of your paper.
Satisfactorily provided a summary slide which addresses key
points of your paper.
Thoroughly provided a summary slide which addresses key
points of your paper.
4. Narrate each slide, using a microphone, indicating what you
would say if you were actually presenting in front of an
audience.
Weight: 10%
Did not submit or incompletely narrated each slide, using a
microphone, indicating what you would say if you were actually
presenting in front of an audience.
Insufficiently narrated each slide, using a microphone,
indicating what you would say if you were actually presenting
in front of an audience.
Partially narrated each slide, using a microphone, indicating
what you would say if you were actually presenting in front of
an audience.
Satisfactorily narrated each slide, using a microphone,
37. indicating what you would say if you were actually presenting
in front of an audience.
Thoroughly narrated each slide, using a microphone, indicating
what you would say if you were actually presenting in front of
an audience.
5. Writing Mechanics, Grammar, and Formatting
Weight: 5%
Serious and persistent errors in grammar, spelling, punctuation,
or formatting.
Numerous errors in grammar, spelling, and punctuation.
Partially free of errors in grammar, spelling, punctuation, or
formatting.
Mostly free of errors in grammar, spelling, punctuation, or
formatting.
Error free or almost error free grammar, spelling, punctuation,
or formatting.
6. Appropriate use of APA in-text citations and reference
section
Weight: 5%
Lack of in-text citations and / or lack of reference section.
In-text citations and references are given, but not in APA
format.
In-text citations and references are provided, but they are only
partially formatted correctly in APA style.
Most in-text citations and references are provided, and they are
generally formatted correctly in APA style.
In-text citations and references are error free or almost error
free and consistently formatted correctly in APA style.
7. Information Literacy / Integration of Sources
Weight: 5%
Serious errors in the integration of sources, such as intentional
or accidental plagiarism, or failure to use in-text citations.
Sources are rarely integrated using effective techniques of
quoting, paraphrasing, and summarizing.
Sources are partially integrated using effective techniques of
quoting, paraphrasing, and summarizing.
39. of 21
Weekly Course Schedule
The purpose of the course schedule is to give you, at a glance,
the required preparation, activities, and evaluation components
of your course. For more information about your course,
whether on-ground or online, access your online course shell.
The expectations for a 4.5 credit hour course are for students to
spend 13.5 hours in weekly work. This time estimate includes
preparation, activities, and evaluation regardless of the delivery
mode.
Instructional Materials
In order to be fully prepared, obtain a copy of the required
textbooks and other instructional materials prior to the first day
of class. When available, Strayer University provides a link to
the first three (3) chapters of your textbook(s) in eBook format.
Check your online course shell for availability.
Review the online course shell or check with your professor to
determine whether Internet-based assignments and activities are
used in this course.
Strayer students are encouraged to purchase their course
materials through our designated Strayer Bookstore.
http://www.strayerbookstore.com If a lab is required for the
course, the Strayer Bookstore is the only vendor that sells the
correct registration code so that Strayer students may access
labs successfully.
Discussions
To earn full credit in an online threaded discussion, students
must have one original post and a minimum of one other post
per discussion thread.
Please note: Material in the online class will be made available
three weeks at a time to allow students to work ahead, however,
faculty will be focused on and responding only to the current
calendar week. As it is always possible that students could lose
their work due to unforeseen circumstances, it is a best practice
to routinely save a working draft in a separate file before
posting in the course discussion area. Professors hold
41. students on how to submit assignments, whether in paper format
or through the online course shell.
Resources
The Resource Center navigation button in the online course
shell contains helpful links. Strayer University Library
Resources are available here as well as other important
information. You should review this area to find resources and
answers to common questions.
Technical support is available for the following:
hnical questions, please contact Strayer Online
Technical Support by logging in to your iCampus account at
https://icampus.strayer.edu/login and submitting a case under
“Student Center,” then “Submit Help Ticket.” If you are unable
to log in to your iCampus account, please contact Technical
Support via phone at (877) 642-2999.
Solution
Center by logging in to your iCampus account at
https://icampus.strayer.edu/login and submitting a case under
“Student Center,” then “Submit Help Ticket.” If you are unable
to log in to your iCampus account, please contact the IT Help
Desk at (866) 610-8123 or at mailto:[email protected]
TurnItIn.com is an optional online tool to assess the originality
of student written work. Check with your professor for access
and use instructions.
The Strayer Policies link on the navigation bar in the online
course shell contains academic policies. It is important that
42. students be aware of these policies.
GM 545 Practice Final
Answer Key
SA As the manager of a factory, what would you do regarding
pricing and production if:
a. There is an increase in supply?
S, supply shifts right, P, price falls…..Q
increases
b. there is a decrease in supply and a decrease in demand?
43. We know a simultaneous decrease in supply & demand results
in an decrease in Q.
Change in P is indeterminent.
c. The price of a substitute good rises and your labor
costs rise??
D demand shifts far right, S supply shifts left. P
price definitely goes up,
don’t change Q
2. (TCO B) The following table shows part of the demand for
tickets to a local sporting event:
Price(P)...Quantity(Q)
15...........40
10..........100
6............150
3............250
(2 pts.) Is demand elastic in the $3 - $6 price range?
Ed = ∆ Q = 150-250 = -100 = -.0.50
44. (150 +250)/2 200_______ = - 0.746 < 1.0
= inelastic
∆ P = $6-$3 = 3 = 0.67
($6 +$3)/2 $4.50
(4 pts.) Ed = 0.8 in the $6 - $10 price range. In this range of
demand, by what percentage would quantity demanded change if
price changes by 5 percent?
Ed = ∆Q/ ∆P = 0.8 ∆Q = Ed x ∆P = 0.8 X 0.05 = 0.04 = 4%
(4 pts.) Price falls from $15 to $10. Does total revenue (TR)
increase, decrease, or remain the same?
TR($15) = $15 X 40 = $600
TR($10) = $10 X 100 = $1000 i.e Elastic since TR
increases when P falls
3. (TCO C) You have been hired to manage a small
manufacturing facility which has cost and production data given
in the table below.
Total Total
45. Workers Labor Cost Output Revenue
1 $200 60 $300
2 400 160 700
3 600 240 1200
4 800 280 1600
5 1000 300 1750
(a.) What is the marginal product of the second worker?
MP = ∆Q/∆L= 160-60/1 = 100
(b.) What is the marginal revenue product of the fourth
worker?
MRP = ∆ TR = $1600-$1200 = $400
(c.) What is the marginal cost of the first worker?
MC = ∆Lcost/∆L = $200 - $0 = $200
(d.) Based on your knowledge of marginal analysis, how many
workers should you hire? Explain you answer.
MC = $200 so where is rising MRP > = MC?
#4 MC = $200 MRP = $400
#5 MC = $200 MRP = $150 so stop at #4
4. (TCO C) Answer the next question on the basis of the
following cost data for a purely competitive seller:
46. Total Product TFC TVC
0 $50 $0
1 50 80
2 50 130
3 50 160
4 50 200
5 50 270
6 50 360
Refer to the above data. If the product price is $80, at its
optimal output will the firm realize an economic profit, break
even, or incur an economic loss? How much will the profit or
loss be? Show all calculations
MC = ∆ TVC
Q= 0 MC = $0
1 $80- $0 = $80
47. 2 130 -80 = 50
3 160-130= 30
4 200-160= 40
5 270-200= 70
6 360-270= 90
At Q=5 MR =80, MC = $70 <MR TR = 5 X $80 = $400,
TC = 50 + 270 = $320 P = $80
Q=6 MR = 80, MC=$90 > MR TR = 6 X $80 = $480
,TC= 50 + 360 = $410 P = $70
5. (TCO D) A handbag producer has fixed costs of $20,000
per month and her Total Variable Costs (TVC) as a function of
output Q are given below:
Q TVC Price
5,000 $ 6,000 $9
15,000 16,000 7
25,000 30,000 5
35,000 46,000 3
45,000 66,000 1
If it can only be produced in the quantities above, what should
be the production level if the producer operates in
48. a monopolistic competitive market where the price of
software at each possible quantity is also listed above? Why?
(Show all work).
MC = ∆ TVC /∆Q MR =
∆TR/∆Q
Q 5000 = MC = $6000/5000 = $1.20 MR = $45000/5000
= $9.00
15000 MC = $10000/10000= $1.00 MR = $60000/10000
= 6.00
25000 MC = $14000/10000 = $1.40 MR =
$20000/10000= 2.00
35000 MC = $16000/10000= $1.60 MR =
$(20000)/10000= ($2.00)
45000 MC= $20000/10000= $2.00 MR =
$(60000)/10000= ($6.00)
At Q = 25,000 MC= $1.40 MR = $2.00 MC<MR YES TR
= $125m TC = $50m Profit = $75m
= 35,000 MC = $1.60 MR = ($2.00) MC>MR NO!
TR= $105m TC = $66m Profit = $39m
(b.) What should be the production level if fixed costs rose to
$30,000 per month? Explain
. It would be the same, Total revenue is greater than Total
Variable costs in both cases
49. 6. (TCO F) Suppose nominal GDP in 2005 was $10 trillion and
in 2006 it was $14 trillion. The general price index in 2005 was
100 and in 2006 it was 110. Between 2005 and 2006 Real GDP
rose by what percent?
NomGDP $14B ÷1.10 = Real GDP = $12.72B
Pct change = $12.72÷10 = 1.272, subtract 1 = .272 = + 27.2%%
In a given year in the United States, the total population is 300
million, the number of residents under the age of 16 is 50
million, the number of institutionalized adults is 20 million, the
number of adults who are not looking for work is 30 million,
and the number of unemployed is 12 million.
(b1.) Refer to the data in the above Scenario. What is the size
of the labor force in the United States for the given year?
50. 300 – (50+20+30) = 200 Labor force
(b2.) Refer to the data in the above Scenario. What is the
unemployment rate in the United States for the given year?
UE rate = UE/ Labor force = 12/200 = 0.06 = 6%
8. (TCO G)
(a.) First National Bank is fully loaned up with reserves of
$40,000 and demand deposits equal to $200,000. The reserve
ratio is 20%. Households deposit $10,000 in currency into the
bank. How what is the maximum amount of new money that can
be created in the banking system as a result of this deposit?
Show all work.
Money Multiplier = 1/ Reserve Ratio = 1/.20 = 5X
51. Initial Deposit X Money Mult = change in MS $10,000 X 5 =
$50,000
Initial Dep + New Money = Change in MS
$10,000 (+ $40,000) = + $50,000
(b.) What is the fed funds rate in the banking system, and
explain how the Fed manipulates this rate in order to achieve
macroeconomic objectives.
9. Explain the difference between the Keynesian and Monetarist
(Classical) economic schools of thought regarding Government
regulation of the economy.
Keynesians believe you should use fiscal & monetary policy to
help manage the economic cycles.
Classical or monetarists believe you should let the economy
move by itself & the market system. The Fed should only grow
the Money supply by as much as real economic growth.
52. 10. Explain the Spending Multiplier effect. If the savings rate
is 20%, what is the spending multiplier? How much would in
increase in Government spending of $10 billion change GDP?
Spending multiplier (Ms) = 1/MPS = 1/.20 = 5X
Change in GDP = ∆Govt spending X Ms = $10B X 5 = $50B
/GM 545 Practice Final
1. (TCO A) As a manager of a factory, what would you
regarding pricing and production if:
a. If there is an increase in supply?
b. if there is a decrease in supply and a decrease in
demand?
c. The price of a substitute good rises and your labor costs
rise?
2. (TCO B) The following table shows part of the demand for
53. tickets to a local sporting event:
Price(P)...Quantity(Q)
15...........40
10..........100
6............150
3............250
a. Is demand elastic in the $3 - $6 price range?
b. Ed = 0.8 in the $6 - $10 price range. In this range of
demand, by what percentage would quantity demanded change if
price changes by 5 percent?
c.Price falls from $15 to $10. Does total revenue (TR)
increase, decrease, or remain the same?
3. (TCO C) You have been hired to manage a small
manufacturing facility which has cost and production data given
in the table below.
TotalTotalWorkersLabor CostOutputRevenue
1 $200 60 $300
2 400 160 700
3 600 240 1200
54. 4 800 280 1600
5 1000 300 1750
(a.) What is the marginal product of the second worker?
(b.) What is the marginal revenue product of the fourth
worker?
(c.) What is the marginal cost of the first worker?
(d.) Based on your knowledge of marginal analysis, how many
workers should you hire? Explain you answer.
4. (TCO C) Answer the next question on the basis of the
following cost data for a purely competitive seller:
Total ProductTFCTVC
0 $50 $0
1 50 80
2 50 130
3 50 160
4 50 200
55. 5 50 270
6 50 360
Refer to the above data. If the product price is $80, at its
optimal output will the firm realize an economic profit, break
even, or incur an economic loss? How much will the profit or
loss be? Show all calculations.
5. (TCO D) A handbag producer has fixed costs of $20,000
per month and her Total Variable Costs (TVC) as a function of
output Q are given below:
Q TVCPrice 5,000 $ 6,000 $9
15,000 16,000 7
25,000 30,000 5
35,000 46,000 3 45,000
66,000 1
(a) If it can only be produced in the quantities above, what
should be the production level if the producer operates in
a monopolistic competitive market where the price of
software at each possible quantity is also listed above? Why?
(Show all work).
(b.) What should be the production level if fixed costs rose to
56. $30,000 per month? Explain
.
6. (TCO F) Suppose nominal GDP in 2005 was $10 trillion and
in 2006 it was $14 trillion. The general price index in 2005 was
100 and in 2006 it was 110. Between 2005 and 2006 real GDP
rose by what percent?
7. In a given year in the United States, the total number of
residents is 300 million, the number of residents under the age
of 16 is 50 million, the number of institutionalized adults is 20
million, the number of adults who are not looking for work is 30
million, and the number of unemployed is 12 million.
8. (b1.) Refer to the data in the above Scenario. What is the
size of the labor force in the United States for the given year?
(b2.) Refer to the data in the above Scenario. What is the
unemployment rate in the United States for the given year?
8. (TCO G)
(a.) First National Bank is fully loaned up with reserves of
57. $40,000 and demand deposits equal to $200,000. The reserve
ratio is 20%. Households deposit $10,000 in currency into the
bank. How what is the maximum amount of new money that can
be created in the banking system as a result of this deposit?
Show all work.
(b.) What is the fed funds rate in the banking system, and
explain how the Fed manipulates this rate in order to achieve
macroeconomic objectives.
9. Explain the difference between the Keynesian and Monetarist
(Classical) economic schools of thought regarding Government
regulation of the economy.
10. Explain the Spending Multiplier effect. If the savings rate
is 20%, what is the spending multiplier? How much would in
increase in Government spending of $10 billion change GDP?