Please choose any business and answer the questions below. ---------------------
ID: 327545 • Letter: P
Question
Please choose any business and answer the questions below.
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1. The business I have chosen is:
2. What is the form of business ownership (Sole Proprietorship, Partnership, or Corporation)? Provide 2 advantages and 2 disadvantages to this form of business ownership. (4 pts)
3. Which of the 4 competitive environments do you feel this business operates within (pure competition, monopolistic competition, oligopoly, monopoly)? Please justify your answer. (4 pts)
4. All businesses deal with, or will have to deal with at some point, ethical issues and social responsibility. What is the difference between ethical issues and social responsibility? (2 pts) Please provide and describe a real example of each appropriate to the business you have chosen. (4pts).
5. If your chosen business is either currently involved in or considering getting involved in international business, name and describe 2 relevant international trade barriers. (4 pts)
6. Locate and provide the mission or mission statement for your chosen business. If unable to locate, please provide a definition for “mission”. (1 pt)
7. Using the SWOT Framework, identify 1 of each for your chosen business. (4 pts)
8. Why is organizational culture so critical in any business? (3 pts)
Explanation / Answer
Due to Chegg policy, we are instructed to provide four parts to a given question. Please do not downvote the answer do this reason.
1. The business I have chosen is video game development firm.
2. The form of business ownership depends upon the companies and their size and therefore can be either sole proprietorship. partnership or corporation. Examples of the following are gaming studios that are operated by one single person, the indie game studio which may have a partnership structure and big corporation like EA and Ubisoft.
3. The business operates in an oligopoly. This is due to the fact that there is a high competition in the market between different firms and the product shows some amount of differentiation between them even when they are compared at the same level. Differentiation in products is what makes a game designing firm recognizable and allow them to gain profit.
4. The difference between ethical issues and social responsibility are:-
1. Ethical issues present us with a challenge to distinguish between right and wrong while social responsibility can be considered as an organization's ability to balance their responsibility to their stakeholders with things like ethics, environmental sustainability etc.
2. Ethical issues contain terms like a conflict of interest and social responsibility includes things such as sustainability etc.
Examples include ethical issues related to companies like Walmart and their predatory pricing policies which do not let other businesses make enough profit and disrupts the market while firms in the manufacturing process are often cases of environmental sustainability issues.
5. 2 international trade barriers can be considered to be the tariff or the tax that a country imposes on goods that are received from global markets and embargo which essentially permits games that are not disruptable to the culture, values and beliefs of the people in the country and its restriction in case a product does not satisfy this condition.