Business 1050

This exam contains 10 short essay questions. Answer each one in a paragraph of 6-8 sentences. Write in essay format, beginning with a topic sentence, supporting your answer with details, examples, and explanations, and ending with a concluding sentence. Be as specific as possible. Give specific authors, people’s names, reading titles, dates, and places when you can.

  1. What was the primary purpose of business at its earliest stages in history? Include when, where, and among whom these activities took place.
  2. Thinking about readings such as Veblen (“Theory of the Leisure Class”), Galbraith (“The Dependence Effect”), Mackey (“Tulipomania”), and O. Henry (“Romance of a Busy Broker”), in what primary ways has the purpose of business changed from the Ancient Era to now?
  3. What does “critical thinking” mean as a business manager or owner? How is it helpful?
  4. How has the relationship between “religious life” and “business life” changed throughout time?
  5. Briefly define what is meant by “the division of labor.” Then, describe its importance in business. [Reminder from instructions: Give specific authors, people’s names, reading titles, dates, and places when you can. This applies to all questions but will not be repeated.]
  6. When we refer to the Renaissance as a “rebirth,” what was it a rebirth of? What implications did the Renaissance have for business?
  7. What theme do the following have in common: Marx, Mike LeFevre, Connie from Lady Chatterley’s Lover, and Gandhi? Explain this common theme and how your awareness of it will help you in the business world.
  8. When did the idea of management as a science develop? How has it developed since then? Identify some key people and their contributions to the science of management.
  9. How should a business balance profit maximization with social and ethical responsibilities? (Note: You can have whatever opinion you’d like. The important part of your answer is how you support that opinion with specific facts and concepts from the course.)
  10. Pick two cultures that have differing attitudes toward the profit motive. Explain how they contrast.
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