Amidst the affluence of post-industrial societies exist some unsettling paradoxes:

a. Rather than being dedicated to disease research or pursuit of environmentally friendly production techniques, the talents of many researchers are channeled toward making existing products distinct from each other. Is the level of product innovation excessive in market economies?

b. Further resources, including artistic talent, are devoted to advertising campaigns with the same seemingly wasteful objective of attracting customers from rival firms. Does free competition lead to the socially efficient level of advertising in market economies? Should public policy limit advertising and research?

Question 2

By Economic Growth we mean that:

1 The quality of the goods and services offered in the country is increasing.

2 The GDP per capita is growing from year to year.

3 There are more goods and services offered in the country.

4 The GDP is growing each year.

Question 3

Innovation is the key to economic growth because...

[Multiple correct answers]:

1 It allows greater output from the same labor and capital.

2 Many people can benefit from it simultaneously.

3 It has no decreasing marginal return (or it decreases only in the long run relative to capital and labor).

4 It allows higher productivity.

1a. What is the "one country, two systems" approach of China? How did it come about? How is the concept doing today?

1b. Describe and explain the four phases of the international planning process. Please provide example (s) when suitable.

1c. Describe the five characteristics of an innovation that assist in determining the rate of acceptance or resistance of the market to a product. Please provide examples.

1d. What has become the primary vehicle for doing business in many foreign countries? Explain and justify your answer with example(s).

1e. What are the various techniques that can be used to motivate middlemen? Please illustrate your answer with examples.

For years Evo has supported athletic teams, but only recently did the Seattle-based e-commerce company launch a formal work team. Like many organizations, the online retailer of snowboard, ski, skate, and wake gear used team metaphors loosely to describe anything involving random groups of employees. But Evo got an education on real work teams when the company formed a team for its creative services employees.

The new group, which is comprised of a photographer, designer, and copy writer, is responsible for producing Evo’s magazine ads, promotions, and web site content. Although the individuals’ roles are not generally interchangeable, photographer Tre Dauenhauer might dabble in design, graphic designer Pubs One may write a few lines of copy, and copywriter Sunny Fenton might snap photos on occasion. Most team projects require a combination of eye-grabbing photos, clever words, and a compelling design, and the teammates are committed to a common purpose.

When the creative services team launched, group members moved into their own space, away from Evo’s chaotic, open-plan work areas. Being together every day enabled the team members to become better acquainted and move through the “forming” stage more quickly. But even with close quarters, Dauenhauer, One, and Fenton needed help navigating the conflict-ridden, storming stage of their team’s development. Before joining the team, they functioned individually and weren’t used to sharing power or making decisions as a group. To help the members learn to work together, Nathan Decker, director of e-commerce, became the team leader. As a skilled negotiator, Decker makes sure his talented trio steers clear of dysfunction and delivers the goods. Any time the team finishes a project, Decker brings members together for a post-mortem discussion—a method of reviewing what was learned, and how things could be executed differently. It’s here that the team members identify new routines and rituals to incorporate into their process for future improvement.

Due to Decker’s leadership and skillful negotiation of conflicts, members of the creative services team are learning how to communicate in ways never before possible. Having a skilled leader to facilitate work processes has helped build team cohesiveness and deliver a collective output that is greater than the sum of its parts.

1. What organizational dilemma was hurting Evo’s creative output, and how did management resolve the problem using teams?

2.   How might Nathan Decker lead effectively as the team starts “norming”?

3.   Can you relate the group performance factors of composition, size, norms, cohesiveness, and informal leadership to Evo?

For years Evo has supported athletic teams, but only recently did the Seattle-based e-commerce company launch a formal work team. Like many organizations, the online retailer of snowboard, ski, skate, and wake gear used team metaphors loosely to describe anything involving random groups of employees. But Evo got an education on real work teams when the company formed a team for its creative services employees.

The new group, which is comprised of a photographer, designer, and copy writer, is responsible for producing Evo’s magazine ads, promotions, and web site content. Although the individuals’ roles are not generally interchangeable, photographer Tre Dauenhauer might dabble in design, graphic designer Pubs One may write a few lines of copy, and copywriter Sunny Fenton might snap photos on occasion. Most team projects require a combination of eye-grabbing photos, clever words, and a compelling design, and the teammates are committed to a common purpose.

When the creative services team launched, group members moved into their own space, away from Evo’s chaotic, open-plan work areas. Being together every day enabled the team members to become better acquainted and move through the “forming” stage more quickly. But even with close quarters, Dauenhauer, One, and Fenton needed help navigating the conflict-ridden, storming stage of their team’s development. Before joining the team, they functioned individually and weren’t used to sharing power or making decisions as a group. To help the members learn to work together, Nathan Decker, director of e-commerce, became the team leader. As a skilled negotiator, Decker makes sure his talented trio steers clear of dysfunction and delivers the goods. Any time the team finishes a project, Decker brings members together for a post-mortem discussion—a method of reviewing what was learned, and how things could be executed differently. It’s here that the team members identify new routines and rituals to incorporate into their process for future improvement.

Due to Decker’s leadership and skillful negotiation of conflicts, members of the creative services team are learning how to communicate in ways never before possible. Having a skilled leader to facilitate work processes has helped build team cohesiveness and deliver a collective output that is greater than the sum of its parts.

1. What organizational dilemma was hurting Evo’s creative output, and how did management resolve the problem using teams?

2.   How might Nathan Decker lead effectively as the team starts “norming”?

3.   Can you relate the group performance factors of composition, size, norms, cohesiveness, and informal leadership to Evo?

Question 11

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Flounder Inc., a greeting card company, had the following statements prepared as of December 31, 2020.

Nominal GDP was $21,329.8 billion in Q2 of 2019 and fell to $19,520.1 billion in Q2 in 2020. Real GDP was $19,020.6 for Q2 in 2019 and $17,302.5 for Q2 in 2020, where 2012 was the base year. Compute the percentage change in the GDP deflator during this period.

The senior management of SFU and UBC were deeply concerned about the enrollment for Fall 2020 in March because of the pandemic. However, it turned that the enrollment went up by 5 – 10% for Fall 2020. Please explain this phenomenon using concepts from this course.  

Haaland Company depreciates an asset with an original cost of $8,000 over 5 years using the sum-of-the-years digits’ method of depreciation. The asset was purchased on July 1, 2020 and the depreciation expense for 2020 is $1,250. What is the estimated salvage value of the asset?