Homework 1: External Environment

Select a company you want to learn more about. Using online and/or library resources, including websites on the company's industry and its website and annual report, answer the following questions for that company:

Laws and regulations: What are some key laws and regulations under which this company and industry must operate?

The economy: How does the state of the economy influence the sales of this company's products?

Technology: What new technologies strongly affect the company you have selected?

Demographics: What changes in the population might affect the company's customer base?

Social issues: What changes in society affect the market for your company's products?

Suppliers: How does your company's relationship with suppliers affect its profitability?

Competitors: What companies compete with the firm you have selected? Do they compete on price, on quality, or on other factors?

New entrants: Are new competitors to the company likely? Possible?

Substitutes and complements: Is there a threat of substitutes for the industry's existing products? Are there complementary products that suggest an opportunity for collaboration?

Customers: What characteristics of the company's customer base influence the company's competitiveness?

WORKPLACE ETIQUETTE

1. You have a job interview with a company that you think has a casual dress policy. For the interview you should dress conservatively just to be safe.

___ True
___ False

2. When a businessman is being introduced to a businesswoman, it is polite for the man to wait for the woman to extend her hand first.

___ True
___ False

3. At a business function designed to help people network and make contacts, you should plan to spend fifteen to twenty minutes with each individual and then move on.

___ True
___ False

4. Even though you may be working on a team project together, you should never open the closed door of a co-worker without knocking first.

___ True
___ False

5. If you work in an office with cubicles and you hear someone a couple of cubicles away ask a question that you can answer, it's better for you to act as if you did not overhear the nearby conversation and restrain your urge to answer.

___ True
___ False

6. In a new position you are pleasantly surprised to find that your boss is about your age and seems to be very friendly. The best strategy for your career is to strive to become good buddies with the boss.

___ True
___ False

7. As a manager, you learn that your employee Barbara must have exploratory surgery. Other employees ask you why Barbara is missing work. You may tell those employees who work directly with Barbara so that they are properly informed and sympathetic.

___ True
___ False

8. If a business meeting is long and if you are not directly involved, it is acceptable for you to perform minor grooming tasks such as combing your hair, applying lipstick, or clipping fingernails-so long as you do it discreetly.

___ True
___ False

9. You want to send a gift, but a client's company has a no-gifts policy. You think, however, that it is acceptable for you to send a gourmet food basket or a subscription to a trade magazine for the entire office.

___ True
___ False

10. When receiving a business card, you should treat it as a gift. Take a moment to study the card and perhaps remark on its distinctive design.

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___ False

11. In dealing with angry customers who will not calm down, you should terminate the call as soon as possible by taking the customer's number and calling back the next day.

___ True
___ False

12. If you have caller ID and you recognize an incoming call, you should pick up the phone and greet the caller with his first name to save time and project a friendly manner.

___ True
___ False

13. At a business lunch in a restaurant, you should place your cell phone on the table so that you can answer it quickly without bothering patrons at other tables.

___ True
___ False

14. If you receive an e-mail from Kevin that contains important information that Lisa should know, you should take advantage of the forwarding function by sending the message on to Lisa, thus saving you the trouble of rekeying the important parts.

___ True
___ False

15. When a group of businesspeople is in an elevator and the door opens, it is polite for male passengers to step aside and let female passengers depart first.

___ True
___ False

16. As a guest at a business dinner at a fancy restaurant, you should order beer, wine, appetizers, or desserts only if the host does.

___ True
___ False

17. When traveling abroad, you should show respect for businesspeople who are older than you by opening doors and allowing them to be seated first.

___ True
___ False