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Week 8 Assignment

Final Exam

Question 1 (CO 1) One external factor affecting business is political. Give two reasons why political factors can influence business and give specific, current, relevant examples of each reason.

Question 2 (CO 2) The WTO is an organization that affects the global marketplace. Explain what the WTO is and give an example of how the WTO affects the global marketplace.

Question 3 (CO 3) Pete Yankin and Ken Lowery consider themselves to be experts on hunting in the mountains in North Carolina. As a result, the two men established a company that markets hunting expeditions. Yankin and Lowery share responsibilities for booking the trips, gathering supplies, and guiding groups of five to seven hunters into locations where they can hunt for deer and bear. The two will share any profit equally. What type of business ownership is represented here? What are two risks and two benefits in this type of business? Why is this the best business model in these circumstances?

Question 4 (CO 8) What is a code of ethics? Why is it important for a company to have a code of ethics?

Question 5 (CO 4) Compare and contrast participative leadership and free-rein leadership. Give specific examples of each.

Question 6 (CO 5) What is the expectancy theory of motivation? Give a specific example.

Question 7 (CO 6) Identifying a target market is the first step of any marketing strategy. What is a target market? Give a specific example of a target market for a specific product or service.

Question 8

1. Amgen Income Statement 09.30.18

Condensed Consolidated Statements of Income – USD ($)
shares in Millions, $ in Millions

3 Months Ended

9 Months Ended

Sep. 30, 2018

Sep. 30, 2017

Sep. 30, 2018

Sep. 30, 2017

Revenues:

Total revenues

$ 5,904

$ 5,773

$ 17,517

$ 17,047

Operating expenses:

Cost of sales

1,037

990

3,005

3,010

Research and development

926

877

2,555

2,519

Selling, general and administrative

1,293

1,170

3,773

3,443

Other

325

297

303

347

Total operating expenses

3,581

3,334

9,636

9,319

Operating income

2,323

2,439

7,881

7,728

Interest expense, net

355

325

1,040

972

Interest and other income, net

126

267

519

627

Income before income taxes

2,094

2,381

7,360

7,383

Provision for income taxes

235

360

894

1,140

Net income

$ 1,859

$ 2,021

$ 6,466

$ 6,243

Earnings per share:

Basic (in usd per share)

$ 2.88

$ 2.78

$ 9.67

$ 8.52

Diluted (in usd per share)

$ 2.86

$ 2.76

$ 9.61

$ 8.46

Shares used in calculation of earnings per share:

Basic (in shares)

645

728

669

733

Diluted (in shares)

649

733

673

738

Dividends paid per share (in usd per share)

$ 1.32

$ 1.15

$ 3.96

$ 3.45

Product sales [Member]

Revenues:

Product sales

$ 5,510

$ 5,453

$ 16,532

$ 16,226

Other revenues [Member]

Revenues:

Total revenues

$ 394

$ 320

$ 985

$ 821

Using the balance sheet above, answer the following questions:

1. Did the company show growth or decline?

2. What in the income statement might indicate growth or decline? Give a specific example.

3. If you were an investor in this company, would you consider this a successful quarter? Why or why not?