/McHugh/McHugh Understanding Business
Instructor’s Manual - Chapter 1 13e
Solution Manual for
Understanding Business, 13th Edition, William Nickels
Chapter 1-20
Chapter 1: Taking Risks and Making Profits within the Dynamic Business Environment
INTRODUCTION
PR
This Instructor’s Manual has been revised to include all teaching resources offered for your course. It is organized for ease of use, so you can
follow along in the classroom and use relevant materials as they are needed.
CONTENTS
Icebreaker Activity
O
Brief Chapter Outline, Learning Objectives, and Classroom Activities
Lecture Enhancers
Critical Thinking Exercises
Bonus Cases
Connect Instructor’s Manual
ADDITIONAL RESOURCE
FD
O
For more lecture-enhancing examples and videos, visit our blog at http://understandingbiz.com.
WHAT’S NEW IN THIS EDITION
Additions:
● Getting to Know Ann-Marie Campbell of Home Depot
● Name That Company: Equifax
C
● Issues regarding the COVID-19 pandemic and social injustice protests are addressed in several photo essays throughout the text.
1 Instructor’s Manual – Ch 5 | Copyright 2022 © McGraw Hill LLC. All rights reserved. No reproduction or distribution without the prior written consent of McGraw Hill LLC
, /McHugh/McHugh Understanding Business
Instructor’s Manual - Chapter 1 13e
● Adapting to Change box: Creating Sustainability through a Circular Economy
● Connecting through Social Media box: The Lucrative Challenge of Connecting with Gen Z Online
● Reaching Beyond Our Borders box: Coca-Cola’s Global Offerings Expand Far beyond Soda
● Video Case: Building a Shopping Community of People (Poshmark)
Revisions:
Statistical data and examples throughout the chapter were updated to reflect current information. In addition:
● Subsection “Managing Diversity” was enhanced with discussion of promoting inclusion and belonging in the workplace.
Deletions:
●
PR
Boxes: Adapting to Change Spotlight on Small Business, Reaching Beyond Our Borders, Adapting to Change
Video Case
O
FD
O
C
2 Instructor’s Manual – Ch 5 | Copyright 2022 © McGraw Hill LLC. All rights reserved. No reproduction or distribution without the prior written consent of McGraw Hill LLC
, /McHugh/McHugh Understanding Business
Instructor’s Manual - Chapter 1 13e
ICEBREAKER ACTIVITY
Exercise: Puzzle Fun
Learning Objectives: 1-1 Describe the relationship between profit and risk, and show how
businesses and nonprofit organizations can raise the standard of living
for all.
Instructor Prep Time: 20–30 minutes
Supplies:
Class Type:
Ideal Class Size:
Set-up Time:
Face-to-Face
N/A PR
5–10 small puzzles containing 5–6 puzzle pieces.
Face-to-Face, Hybrid, and Online
5 minutes to hand out puzzle pieces and create teams
Student Work Time:
Hybrid
Online
O
1–2 hours to find puzzle and 15 minutes to post puzzle.
30 minutes
Wrap-up Time:
Face-to-Face
Hybrid
Online
Evaluation Suggestions:
15–20 minutes to discuss “takeaways”
FD
Online chat room—1 to 2 days to answer any questions.
N/A
Set-up: In-person and Hybrid
O
• Depending on the class size, purchase 5–10 small puzzles containing 5 - 6 puzzle pieces.
• Divide up the puzzle pieces and place in 5–10 sandwich bags based on the class size.
• This exercise is great for the first day of class.
• It serves as an “icebreaker” as well as illustrating Learning Objective 1-1.
• It is a fun way to start the semester.
Online
C
3 Instructor’s Manual – Ch 5 | Copyright 2022 © McGraw Hill LLC. All rights reserved. No reproduction or distribution without the prior written consent of McGraw Hill LLC
, /McHugh/McHugh Understanding Business
Instructor’s Manual - Chapter 1 13e
There are free websites that you can download puzzles to post online (Here are 3 sites – there are many more)
www.jigsawplanet.com/
www.jigzone.com/
https://www.thejigsawpuzzles.com/
Day of:
• Form teams of 5–6 depending on the number of puzzle pieces per bag.
•
•
•
•
•
PR
Tell the teams there is a prize for the team that finishes first.
Tell them you have to leave the classroom and will be back in a few minutes.
Depending on the class, it might take a few minutes for the students to realize that they don’t have the right pieces to complete the
puzzle.
They will finally realize that the whole class has to collaborate to complete the puzzles.
After the students realize that there are multiple puzzles and have finally completed the puzzles, have them stay in the groups, discuss
the process, and analyze the steps involved.
Student Instructions:
O
• Student steps for the activity:
1. You are to put together a puzzle.
FD
2. The first team to successfully complete the puzzle will receive a prize.
Wrap-up/“Takeaways” suggested topics:
• In-person/hybrid classes: Wrap-up and discussion allot 15–20 minutes. Frame the discussion around the concept that the business world
O
is like a puzzle with multiple components performing a myriad of functions and roles (refer to Figure 1.1 A Business and Its Stakeholders)
that at first glance may not seem connected but require collaboration to create a successful business.
Online: Instructor and student comments posted on the discussion page.
C
4 Instructor’s Manual – Ch 5 | Copyright 2022 © McGraw Hill LLC. All rights reserved. No reproduction or distribution without the prior written consent of McGraw Hill LLC
Instructor’s Manual - Chapter 1 13e
Solution Manual for
Understanding Business, 13th Edition, William Nickels
Chapter 1-20
Chapter 1: Taking Risks and Making Profits within the Dynamic Business Environment
INTRODUCTION
PR
This Instructor’s Manual has been revised to include all teaching resources offered for your course. It is organized for ease of use, so you can
follow along in the classroom and use relevant materials as they are needed.
CONTENTS
Icebreaker Activity
O
Brief Chapter Outline, Learning Objectives, and Classroom Activities
Lecture Enhancers
Critical Thinking Exercises
Bonus Cases
Connect Instructor’s Manual
ADDITIONAL RESOURCE
FD
O
For more lecture-enhancing examples and videos, visit our blog at http://understandingbiz.com.
WHAT’S NEW IN THIS EDITION
Additions:
● Getting to Know Ann-Marie Campbell of Home Depot
● Name That Company: Equifax
C
● Issues regarding the COVID-19 pandemic and social injustice protests are addressed in several photo essays throughout the text.
1 Instructor’s Manual – Ch 5 | Copyright 2022 © McGraw Hill LLC. All rights reserved. No reproduction or distribution without the prior written consent of McGraw Hill LLC
, /McHugh/McHugh Understanding Business
Instructor’s Manual - Chapter 1 13e
● Adapting to Change box: Creating Sustainability through a Circular Economy
● Connecting through Social Media box: The Lucrative Challenge of Connecting with Gen Z Online
● Reaching Beyond Our Borders box: Coca-Cola’s Global Offerings Expand Far beyond Soda
● Video Case: Building a Shopping Community of People (Poshmark)
Revisions:
Statistical data and examples throughout the chapter were updated to reflect current information. In addition:
● Subsection “Managing Diversity” was enhanced with discussion of promoting inclusion and belonging in the workplace.
Deletions:
●
PR
Boxes: Adapting to Change Spotlight on Small Business, Reaching Beyond Our Borders, Adapting to Change
Video Case
O
FD
O
C
2 Instructor’s Manual – Ch 5 | Copyright 2022 © McGraw Hill LLC. All rights reserved. No reproduction or distribution without the prior written consent of McGraw Hill LLC
, /McHugh/McHugh Understanding Business
Instructor’s Manual - Chapter 1 13e
ICEBREAKER ACTIVITY
Exercise: Puzzle Fun
Learning Objectives: 1-1 Describe the relationship between profit and risk, and show how
businesses and nonprofit organizations can raise the standard of living
for all.
Instructor Prep Time: 20–30 minutes
Supplies:
Class Type:
Ideal Class Size:
Set-up Time:
Face-to-Face
N/A PR
5–10 small puzzles containing 5–6 puzzle pieces.
Face-to-Face, Hybrid, and Online
5 minutes to hand out puzzle pieces and create teams
Student Work Time:
Hybrid
Online
O
1–2 hours to find puzzle and 15 minutes to post puzzle.
30 minutes
Wrap-up Time:
Face-to-Face
Hybrid
Online
Evaluation Suggestions:
15–20 minutes to discuss “takeaways”
FD
Online chat room—1 to 2 days to answer any questions.
N/A
Set-up: In-person and Hybrid
O
• Depending on the class size, purchase 5–10 small puzzles containing 5 - 6 puzzle pieces.
• Divide up the puzzle pieces and place in 5–10 sandwich bags based on the class size.
• This exercise is great for the first day of class.
• It serves as an “icebreaker” as well as illustrating Learning Objective 1-1.
• It is a fun way to start the semester.
Online
C
3 Instructor’s Manual – Ch 5 | Copyright 2022 © McGraw Hill LLC. All rights reserved. No reproduction or distribution without the prior written consent of McGraw Hill LLC
, /McHugh/McHugh Understanding Business
Instructor’s Manual - Chapter 1 13e
There are free websites that you can download puzzles to post online (Here are 3 sites – there are many more)
www.jigsawplanet.com/
www.jigzone.com/
https://www.thejigsawpuzzles.com/
Day of:
• Form teams of 5–6 depending on the number of puzzle pieces per bag.
•
•
•
•
•
PR
Tell the teams there is a prize for the team that finishes first.
Tell them you have to leave the classroom and will be back in a few minutes.
Depending on the class, it might take a few minutes for the students to realize that they don’t have the right pieces to complete the
puzzle.
They will finally realize that the whole class has to collaborate to complete the puzzles.
After the students realize that there are multiple puzzles and have finally completed the puzzles, have them stay in the groups, discuss
the process, and analyze the steps involved.
Student Instructions:
O
• Student steps for the activity:
1. You are to put together a puzzle.
FD
2. The first team to successfully complete the puzzle will receive a prize.
Wrap-up/“Takeaways” suggested topics:
• In-person/hybrid classes: Wrap-up and discussion allot 15–20 minutes. Frame the discussion around the concept that the business world
O
is like a puzzle with multiple components performing a myriad of functions and roles (refer to Figure 1.1 A Business and Its Stakeholders)
that at first glance may not seem connected but require collaboration to create a successful business.
Online: Instructor and student comments posted on the discussion page.
C
4 Instructor’s Manual – Ch 5 | Copyright 2022 © McGraw Hill LLC. All rights reserved. No reproduction or distribution without the prior written consent of McGraw Hill LLC
