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.
- What was the primary purpose of business at its earliest stages in history? Include when, where, and among whom these activities took place.
- 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?
- What does “critical thinking” mean as a business manager or owner? How is it helpful?
- How has the relationship between “religious life” and “business life” changed throughout time?
- 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.]
- When we refer to the Renaissance as a “rebirth,” what was it a rebirth of? What implications did the Renaissance have for business?
- 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.
- 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.
- 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.)
- Pick two cultures that have differing attitudes toward the profit motive. Explain how they contrast.
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