BUS110 Introduction to Business

BUS110 Introduction to Business

Question One (25 Marks) (Word count 200 words)

  1. Naomi, a human resource executive with Enigma Corp., bought a pair of sunglasses online during her office hours. In this scenario, discuss the kind of misconduct that Naomi engaged in and other kinds of misconduct that belong to the same category as per the National Business Ethics Survey.
  2. Discuss why it is important for companies to have codes of ethics.

Question Two (25 Marks) (Word count 100 words)

Merrythought is a business that makes teddy bears, located in Ironbridge, Shropshire, in the United Kingdom. The business was founded years ago by Gordon Holmes. It is a private limited company, still owned by the Holmes family and is currently run by Gordon Holmes’s great-granddaughter Sarah Holmes.The business has approximately 25 employees and does all its manufacturing in England. It makes a large number of different styles of teddy bears, ranging from “traditional British bears, to special occasion bears and various “ novelty’ bears.

  1. Identify and define the type of business the Holmes family is conducting. Justify your answer
  2. List its advantages and disadvantages.

Question Three (25 Marks) (Word count 200 words)

  1. In the context of the various forms of business ownership, discuss the two basic types of partnerships.
  2. Briefly discuss domestic, foreign, alien, private, and public corporations.

Question Four (25 Marks) (Word count 250 words)

Steve Jobs and his friend Steve Wozniak were self-taught engineers who created one of the most popular, revolutionary, technology brand, “Apple”. Steve Jobs was not the first person to have an idea to create a user-friendly computer, and he was not the first person to come up with an idea about music players or smartphones, but he was the first person to implement them. He covered potential ideas and then implemented them in ways that no one had ever dreamed of before.Apple products, whether they be a computer, laptop, iPod, iPhone, iTunes, or otherwise, are featured everywhere. Not only Apple products are of high quality technological items, but the company also has superior branding and a strong company image making them, one of the most popular and easily recognizable brands in the world.

  1. Why do some people choose to be an “entrepreneur” instead of being an employee? Write three reasons to support your opinion.
  2. From this example, identify and explain any four traits/characteristics of Steve Jobs that helped him to be successful in his business.
  3. In your opinion what are the factors that can limit the opportunity for entrepreneurship.
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