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The Craft House Penny works for a retail shop called The Craft House. Penny was often quite rude to customers when they annoyed her. One morning, her supervisor asked Penny into her office and informed her that her behavior was unacceptable. To be rude to one customer could cause several customers not to come back. Penny’s supervisor told her that retaining a customer is much cheaper than trying to get a new one. After their constructive discussion, Penny’s boss told her that she wanted her to go out on the floor that day and attempt to be more helpful to customers.   Over the next few months, Penny began to help customers learn more about the different products in the store and often explained why the customer might want to purchase one product over another. In doing so, she realized the importance of her role in the retail shop and began to truly enjoy her job. She started to think about the future of the company. She even thought that the company could do very well if it were to sell its products on eBay. When she brought this idea to her boss, her boss thought it was excellent, and asked Penny to look further into the pros and cons of her idea.   After evaluating Penny’s research, her boss decided to move forward with the idea, asking Penny to head up this new venture for the company. Penny then realized that retail is not just about making the sale; the customer should be the focus of all operations. Penny now looks up to her boss and is very glad that she was there to mentor her.  Refer to The Craft House. When Penny was brought into her boss’s office, what was her manager trying to explain?

Who or what defines whether a business is small?

In providing health insurance for its employees, National Instruments is striving to satisfy which level of need?

G&W, Inc. A year ago, Oscar went to work for G&W, Inc. He has worked in the finance department ever since he started. He noticed that the company was taxed as though it were a partnership. This was something that he found very odd when he first started working for the company, but he later realized it was a fairly common practice. He recognized that this was one of the advantages of this type of company. ​ Although the job was challenging, Oscar was not satisfied. He really wanted to work for a company whose main goal was to provide service to the community, not to make a profit. However, Oscar felt that, considering his present financial situation, he had to continue working for G&W, Inc. A week later, Oscar learned there was going to be a merger between G&W, Inc. and one of its major competitors. Oscar’s boss informed him that he would be getting a promotion and a raise. Although he was excited about making more money, he still was not happy. He knew then that he would not be working for the company for long.Refer to G&W, Inc. What type of organization was Oscar considering switching to?

A Tesla, a dinner at the Shake Shack, and an overnight stay at a Marriott Hotel all satisfy human needs. Therefore, each _______.

If a company deals with violations of its ethical codes _______, the opportunity to be unethical will be reduced.

Which form of business organization is most heavily regulated by the government?

Room Elements Room Elements is a home decorating company that sells many different household accessories ranging from candles to entertainment centers. Delphine is the CEO of the company. She feels that there is not enough specialization within the company and wants to organize the business in a different way. Delphine thinks that the company would be more effective if it were to switch to a new way of organization. For example, there could be a manager in charge of the candles, a different manager in charge of the entertainment centers, and so on. ​ Another issue that Delphine wants to resolve is that of delegation. She believes that if she could improve her delegating, employees would feel more empowered and want to go above and beyond what they are required to do. There are certain reasons that Delphine has a hard time delegating to others, but she is confident that the problem will be overcome if she works on it.Refer to Room Elements. What would be an alternative to specialization if negative consequences were to develop at Room Elements?

Gail’s company is on the verge of failing. What is an essential step that many experts believe business owners ignore that could help her business succeed?

Garden Living Garden Living, Inc. is a lawn furniture company that has been around for many years. It is known for its ability to produce furniture more efficiently than any other company in the nation. In truth, no other companies in any other nation come close. Garden Living has shipped many of its products internationally. In fact, 80 percent of its profits come from international sales. However, the Italian government has imposed a tax on imported furniture items to protect local companies. The Brazilian government, on the other hand, has imposed taxes on Garden Living products due to the government wanting a piece of the pie. ​ Garden Living initially thought that these taxes were unfair because it was being singled out. However, after Garden Living contacted an organization that had the power to mediate this situation, the furniture company realized that the taxation it was subjected to was legal and that there was nothing it could do about it. ​Refer to Garden Living. Because the company is known for its ability to produce lawn furniture more efficiently than any other company in the world, the company must have a(n) _______ advantage.