Reference no: EM132443965

Small Business Basics

In Section 5, you learned about stages of developing a business, company departments, success and failure factors, and ethics. Now, you'll apply what you learned.

1. Why is the production department of a company important?
2. Why is the finance department of a company important?
3. Why is the marketing department of a company important?
4. Why is the customer service department of a company important?
5. If you were forming a company, which department would you create first, and why?
6. Think of a company you know of that has been successful. Discuss the 3 factors of success that you think were the most important to this company, and explain why these factors were important. (Choose a different company from the one you wrote about in Assignment 1.)
7. Describe the 3 factors of failure that you think can hurt a company the most, and explain why these factors are so bad for a company.
8. Describe a real or made-up but possible example of a situation where an employee faces a conflict of interest. Explain at least two things the company could do to help make sure that employees aren't tempted into unethical behavior by conflicts of interest.