Comfort Food Magazine states that the percentage of people who like to eat hot dogs is 55%. A random selection of 275 people are asked if they like eating hot dogs and 55% said they do. At the α = 0.09 level, is there sufficent evidence to conclude that the percentage of people that like to eat hot dogs is higher than 55%?

Once you have constructed your Clothing Map and determined which country has produced the majority of your clothing, search newspaper and magazine databases to find an article from the last year that discusses working conditions and/or GDP of that country. Provide a summary of the article and reflect on the article and its connection to the section “Globalization and Development”

Analyze a current television or magazine advertisement and answer these questions:

Whose behavior is the ad attempting to influence, and how?

Which important people or objects are there in the ad?

What outcomes are suggested for those who use or do not use the product?

What does the ad tell us about how advertisers attempt to condition the behavior of consumers?

Covid-19 has disrupted many businesses and changed the business environment.

•As a CRM consultant, was asked by a local business magazine to write an article about how organizations can use CRM to restore business.

•Propose guidelines about how companies should do and what they should avoid doing. And, explain reasons for such guidelines.

You decided to start up 3-D Printing Prototyping business. In October of 2020, you:

Invest $10,000 of your own money

. • Raise an additional $20,000 from family and friends (as equity). You also borrow another $10,000 from them that you agree to pay back in 6-months time

. • Secure operating space and prepay for 3-months of space at $3,000 a month. Your landlord let you in a couple days early to set up before your grand opening at no additional cost.

• Purchase 3-D printers totalling $20,000.

• Purchase computers and related equipment totalling $12,000

• Purchase $4,000 worth of 3-D printing supplies (printer filament)

Your grand opening is set for Nov 1. Complete the balance sheet for this company as of Nov 1.

Over the next 3-months you:

Complete prototyping work worth $30,000. This work required $8,000 of your printing supplies. During this time you also purchased another $10,000 worth of printing supplies.

• You also receive payment for a $2,000 job that will completed over the first month of the next quarter.

• You didn’t pay any additional rent given that you prepaid it in October

. • Utilities (electricity, water, etc) were 20% of your rent.

• You hired an assistant for the last two months, paying them $2,000 a month.

• Marketing costs were $3,000.

• You also paid $500 in interest on your loan and paid back $2,000 in principal (earlier than expected)

. • Taxes are expected to be 20% of your income.

• You can ignore depreciation.

Complete an income statement for those first three months.

Case Study 6.3

Sniffing glue Could snuff profits

harvey benjaMin fuller founded The h. b. Fuller Company in 1887. Originally a one-man wallpaper-paste shop, H. B. Fuller is now a leading manufacturer of indus- trial glues, coatings, and paints, with operations worldwide. The company’s 10,000 varieties of glue hold together everything from cars to cigarettes to disposable diapers. However, some of its customers don’t use Fuller’s glues in the way they are intended to be used. That’s particularly the case in Central America, where Fuller derives 27 percent of its profits and where tens of thousands of homeless children sniff some sort of glue. Addicted to glue’s intoxicating but dangerous fumes, these unfortunate children are called resistoleros after Fuller’s Resistol brand. Child-welfare advocates have urged the company to add a noxious oil to its glue to discourage abusers, but the company has resisted, either because it might reduce the glue’s effectiveness or because it will irritate legitimate users.111 Either way, the issue is irritating H. B. Fuller, which has been recognized by various awards, honors, and socially conscious mutual funds as a company with a conscience. Fuller’s mission statement says that it “will conduct business legally and ethically, support the activities of its employees in their communities and be a responsible corporate citizen.” The St. Paul-based com- pany gives 5 percent of its profits to charity; it has committed itself to safe environmental practices worldwide (practices that are “often more stringent than local government standards,” the company says); and it has even endowed a chair in business ethics at the University of Minnesota. Now Fuller must contend with dissident stockholders inside, and demonstrators outside, its annual meetings. The glue-sniffing issue is not a new one. In 1969, the Testor Corporation added a noxious ingredient to its hobby glue to dis- courage abuse, and in 1994 Henkel, a German chemical com- pany that competes with Fuller, stopped making certain toxic glues in Central America. However, Fuller seems to have been singled out for criticism not only because its brand dominates Central America but also because—in the eyes of its critics, anyway—the company has not lived up to its own good-citizen image. Timothy Smith, executive director of the Interfaith Center for Corporate Responsibility, believes that companies with a reputation as good corporate citizens are more vulnerable to attack. “But as I see it,” he says, “the hazard is not in acting in a socially responsible way. The hazard is in over-marketing yourself as a saint.” Saintly or not, the company has made matters worse for itself by its handling of the issue. H. B. Fuller’s board of directors acknowledged that “illegal distribution was continuing” and that “a suitable replacement product would not be available in the near future.” Accordingly, it voted to stop selling Resistol adhe- sives in Central America. “We simply don’t believe it is the right decision to keep our solvent product on the market,” a company spokesman said. The Coalition on Resistoleros and other corporate gadflies were ecstatic, but their jubilation turned to anger when they learned a few months later that Fuller had not in fact stopped selling Resistol in Central America and did not intend to. True, Fuller no longer sold glue to retailers and small-scale users in Honduras and Guatemala, but it continued to sell large tubs and barrels of it to industrial customers in those countries and to a broader list of commercial and industrial users in neighboring countries. The company says that it has not only restricted distribution but also taken other steps to stop the abuse of its product. It has altered Resistol’s formula, replacing the sweet-smelling but highly toxic solvent toluene with the slightly less toxic chemi- cal cyclohexane. In addition, the company has tried—without success, it says—to develop a nonintoxicating water-based glue, and it contributes to community programs for homeless children in Central America. But the company’s critics disparage these actions as mere image polishing. Bruce Harris, director of Latin American programs for Covenant House, a nonprofit child- welfare advocate, asserts that Resistol is still readily available to children in Nicaragua and El Salvador and, to a lesser extent, in Costa Rica. “If they are genuinely concerned about the children,” he asks, “why haven’t they pulled out of all the countries—as their board mandated?”

After reading Case 6.3 on page 300 in the text, answer the following question: What are H. B. Fuller’s moral obligations in this case? What ideals, effects, and consequences are at stake? Have any moral rights been violated? What would a utilitarian recommend? A Kantian?

IKEA’s Global Strategy Walk into an IKEA store anywhere in the world, and you would recognize it instantly. Global strategy standardization is rampant! The warehouse-type stores all sell the same broad range of affordable home furnishings, kitchens, accessories, and food. Most of the products are instantly recognizable as IKEA merchandise, with their clean yet tasteful lines and functional design. With a heritage from Sweden (IKEA was founded in 1943 as a mail-order company, and the first store opened in Sweden in 1958), the outside of the store will be wrapped in the blue and yellow colors of the Swedish flag. IKEA has sales of €34.2 billion euros annually (about $37 billion U.S. dollars) and more than 150,000 employees. Interestingly, IKEA is responsible for about 1 percent of the world’s commercial-product wood consumption.

The IKEA name comes from its founder—the acronym consists of the founder’s initials from his first and last names (Ingvar Kamprad) along with the first initials of the farm where he grew up (Elmtaryd) and his hometown in Sweden (Agunnaryd). Overall, Sweden has 20 IKEA stores, which are only fewer than in Germany (49 IKEA stores), the United States (42), France (32), and Italy (21). Spain also has 20 stores. With 351 stores in 46 countries, IKEA is the largest furniture retailer in the world. Basically, the furniture market is one of the least global markets, with local tastes, needs, and interests much different than for many other products across industries. The largest IKEA store is in Gwangmyeong, South Korea, at some 640,000 square feet.

The IKEA store itself will be laid out like a maze that requires customers to walk through every department before they reach the checkout stations. The stores are often structured as a one-way layout, leading customers counterclockwise along what IKEA calls “the long natural way.” This “way” is designed to encourage customers to see the store in its entirety. Cut-off points and shortcuts exist but are not easy to figure out. It is even difficult to get back out after having a meal in the famous IKEA restaurant with its Swedish food (meatballs anyone?).

Immediately before the checkout, there is an in-store warehouse where customers can pick up the items they purchased. The furniture is all packed flat for ease of transportation and requires assembly by the customer. Value is stressed to a great extent (the price customers pay for the quality furniture they get). If you look at customers in the store, you will see that many of them are in there 20s and 30s. IKEA sells to the same basic customers worldwide: young, upwardly mobile people who are looking for tasteful yet inexpensive “disposable” furniture of a certain quality standard for the price they are willing to pay.

A global network of more than 1,000 suppliers based in more than 50 countries manufactures most of the 12,000 or so products that IKEA sells. IKEA itself focuses on the design of products and works closely with suppliers to bring down manufacturing costs. Developing a new product line can be a painstaking process that takes years. IKEA’s designers will develop a prototype design (e.g., a small couch), look at the price that rivals charge for a similar piece, and then work with suppliers to figure out a way to cut prices by 40 percent without compromising on quality. IKEA also manufactures about 10 percent of what it sells in-house and uses the knowledge gained to help its suppliers improve their productivity, thereby lowering costs across the entire supply chain.

Look a little closer, however, and you will see subtle differences among the IKEA offerings in North America, Europe, and China. In North America, sizes are different to reflect the American demand for bigger beds, furnishings, and kitchenware. This adaptation to local tastes and preferences was the result of a painful learning experience for IKEA. When the company first entered the United States in the late 1980s, it thought that consumers would flock to its stores the same way that they had in western Europe. At first, they did, but they didn’t buy as much, and sales fell short of expectations. IKEA discovered that its Europeanstyle sofas were not big enough, wardrobe drawers were not deep enough, glasses were too small, and kitchens didn’t fit U.S. appliances. So the company set about redesigning its offerings to better match American tastes and was rewarded with accelerating sales growth.

Lesson learned. When IKEA entered China in the 2000s, it made adaptations to the local market. The store layout reflects the layout of many Chinese apartments, where most people live, and because many Chinese apartments have balconies, IKEA’s Chinese stores include a balcony section. IKEA has also had to shift its locations in China, where car ownership lags behind that in Europe and North America. In the West, IKEA stores are located in suburban areas and have lots of parking space. In China, stores are located near public transportation, and IKEA offers a delivery service so that Chinese customers can get their purchases home.

2. IKEA has narrowed down its market entry mode (into Vietnam) to three options i.e. franchising; a joint venture with a host-country firm or setting up a new wholly owned subsidiary in Vietnam. Critically evaluate these options. Which one would you recommend? (1000 words)

evaluate the business model of the Challenger banks of South Africa(discovery bank, tymer bank).

An overview of South Korea and analysis of economic factors with sources from scholarly sources please