Foundations of Business Thought

Foundations of Business Thought Student Help Foundations of Business Thought
Professor: Alan Sandomir

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Final Exam Study Guide
Fall 2018
There are three pages of notation here—please read through to the end.
NOTE: The first seven or eight questions on Cicero are long and dense—this suggests spending some time with that reading.
Cicero – what is the difference between Plato’s and Cicero’s interpretation of Gyges – what are the obligations of friendship (we didn’t discuss this in class) – what is the fairness doctrine – what is the expediency principle of Aristides – what are Cicero’s conclusions for the grain affair – what are Cicero’s conclusions for the house selling affair
– explains caveat emptor versus caveat vendor
– who is the subject of the house case, the seller or the buyer
– what is “getting to yes”
– what is the role of education in marketing ethics
– why is Cicero important to marketing Aquinas on Marketing
– what are the four areas of Thomistic analysis
– what are his conclusions on all 4 articles
– which areas are to be tolerated
– which areas are to be amended
– what is the Thomistic idea of reason as evidenced by the Athens/Jerusalem argument
– why is Thomistic thought important to marketing Darwin/Spencer
– uncontrollable external variables
– what is natural selection and how does it relate to marketing
– what is Herbert Spencer and what is Social Darwinism
– what is the importance of natural selection to marketing
– what is the role of adaptation to marketing
– what role do these variables play in marketing
– why are Darwin and Spencer important to marketing Veblen – women as trophies–historical perspective and motives of the men – definition of pecuniary emulation – how pecuniary emulation worked in the earliest stages of history – motive that lies at the root of ownership – what happens when people can’t buy goods on emulative basis (esteem argument) – how conspicuous consumption began historically – how conspicuous consumption affects social classes – canons of reputability and expenditure – conspicuous consumption as habit and what it means to standard of living
– how is Veblen important to the study of consumer behavior
– what is the dependence effect
– what are the two types of demand to which Galbraith refers
– what does Galbraith mean when he says D2 has zero utility
– why does Galbraith think that D2 is difficult to defend
– how might Galbraith define marketing
– What is Galbraith’s opinion of want creation
– why is Galbraith important to marketing Pacioli – what are three things necessary to carry on a business
– where was Pacioli’s system used – explain his system and how it works – explain his religious ideas
– what does Pacioli say about “cooking the books”
– what relationship does his religious contribution have to accounting ethics
– why is Pacioli important to accounting Saikaku – how does Saikaku keep his accounts – what is the purpose of accounting – explain his rice cakes story
– why is the rice cakes story meaningful to accounting – what is his attitude toward women in accounting
– why is Pacioli important to accounting Defoe – what is the purpose of accounting – what is casting up the books – what three things make up a merchant’s books – how do the illiterate keep their books – why should merchants keep the books – what is the relationship of accounting to faith
– what is his opinion of bookkeepers
– why is Defoe important to accounting Maimonides – what is his attitude toward religion as it impacts faith – what is the difference between usury and interest – are there Maimonidean rules for borrowing and lending – what, if any, rules doe Maimonides provide for joint ventures or partnerships – is there a Maimonidean rule for capitalization
– why is Maimonides important to finance Aquinas on Usury–Finance – attitude toward religion as it impacts faith – what are the first objections for articles 1,2,4
– what are the conclusions for articles 1,2,4
– what is the relationship of article 4 to the Holocaust
– what is the Thomistic view of finance
– why is Aquinas important to finance Franklin – what is Franklin’s attitude toward finance as it intersects with faith
– what does Franklin think about wealth earning through borrowing and lending
– what is cost shifting for a bank – what, if any, rules for borrowing and lending are provided by Franklin – 4 principles for increasing wealth
– what cautions does Franklin provide regarding the subject of leveraging (indebtedness)
– why is Franklin important to finance
Mill – what is Mill’s attitude toward religion as it impacts finance – What is his justification for profit (investing) – what is his justification for interest (lending) – what three things must ROI (return) account for – all things analysts look for to account for variability of profitability (some of these
are called “barriers to entry” – what is the “Wal-Mart” Principle and how does it work – what are Mill’s three final facts which account for profitability differences in companies – — why is Mill important to finance
– how has labor progressed
– what is Carnegie’s view of strikes and lockouts
– what is his 1st suggestion for improved capital/labor relations (the one he cannot implement 1n 1889)
– what are his suggestions for better labor/capital relations
– explain how his sliding scale works
– why is Carnegie important to management
– what is the problem of efficiency in 1920
– who suffers most because of efficiency problems
– why does the X managerial mindset work so poorly in 1920
– what is Tawney’s notion of “esprit-de corps
– what does Tawney think must change to create better managerial efficiency
– what is the role of motivation in Tawney’s thinking
– what are four or five thinks that might serve as motivators according to Tawney
– why is Tawney important to management
– what is the role of socialist economics in this story
– what type of management is represented by Clifford Chatterly
– what is Clifford Chatterly’s view of labor
– what is Lady Chatterly’s view of nature
– what type of management is represent by Connie Chatterly
– why is Lawrence important to management
–what are the arguments for manufacturing
–what are the arguments for agriculture
Vonnegut—if we have time for it
–All questions will stay within the focus of our class discussion
-Marketing: 4 p’s of marketing, promotions mix, product life cycle, acquisition, research, segmentation, portfolio management, depth v. breadth v. length, PLC strategies, breakeven pricing, consumer buying process, distribution channels relative to efficiency and effectiveness—for example, when would you choose long channels; when would you choose short channels);
-Accounting: all terms; balance sheet, income statement, all terms, accounting process; net profit ratio; accounting “processing” system
-Finance: what is money; what is a bubble; how the Fed works, managerial finance; corporate finance budgeting; concerns (cash flow, short term v. long term); instruments for financing–debt v. equity capital (know all the types)
-types of bonds; types of stock; Dow 30 (blue chip stocks)
Management: XYZ management theories; efficiency and effectiveness factors; hygiene factors v. motivation factors (if we have time for these factors)

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