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¶ … business pertains to what that business does and what it is, as a whole. The kind of philosophy it has, the products it makes or services it provides, and the all-encompassing theme o the entire business make up its definition (Sullivan & Sheffrin, 2003; Swarming, 2006). The mission and goals, however, are only a part of that business definition. The goals are specific, concrete, and attainable, and they keep the business moving forward (Christensen, 1997). They can be made public, so the community has an idea of what the business wants to accomplish, or they can be kept private. Either way, they have to be realistic, and they must be worked toward steadily and revised at various intervals until they are achieved. Then, new goals can be set that build on the original goals the business had. The mission of the business is its statement to the public about the overall direction it is taking and what it looks for and desires in the future. That mission is generally presented to the public, so it can be a "selling point" for the business and what that business stands for (Dev & Schultz, 2005). Marketers...
Fixed costs are those that are static, and that do not change. Things like a mortgage payment with a fixed interest rate is a fixed cost, whereas something like an electric bill that can differ from month to month would be a variable cost. In addition to these two kinds of costs, there are also relevant and sunk costs. Sunk costs are past costs that have been incurred already and that are not able to be recovered (Joshi, 2005; Guiltinan, 1996). Relevant costs are specific to the decisions that are made by management. They are only relevant (or even acquired) during certain situations, and are not seen in other types of situations. It is important that all of these costs are understood, because marketing managers can use them to better showcase the financial health of the business.
A pro forma income statement is used to project future (anticipated) income, sales, and expenses (Christensen, 1997). There…
References
Christensen, C.M. (1997), The innovator's dilemma: when new technologies cause great firms to fail, Boston, Massachusetts, USA: Harvard Business School Press
Dev, C.S. & Schultz, D.E. (2005). In the mix: A customer-focused approach can bring the current marketing mix into the 21st century. Marketing Management, 14(1)
Joshi, R.M. (2005) International marketing, Oxford University Press, New Delhi and New York
Guiltinan, et al. (1996). Marketing management: Strategies and programs. New York: McGraw Hill/Irwin
The office and administrative expenses would remain constant even to that point, as would the insurance expense. Exhibit B: Cash Flow Statement, Year Two At this point, the business is earning a healthy return and Mr. Ahn is receiving will be able to bring in a reasonable salary. The nature of the business may well change at this point. At the maximum revenue of $144,000 per year the pretax profit would
Business Entities, Laws, And Regulations This paper will focus on the challenges faced by one start-up businesses and an established company with labor issues. For the start-up, a birth clinic, a case needs to be made for the type of business entity they should each use. The established company is a construction company whose business entity must be identified and employment law pertaining to the scenario will be discussed. For each
This means that you must continually monitor and communicate about possible changes, pertaining to the overall scope of the threat. Once this occurs, is when an entity will have an effective security procedure that will adapt to the various changes that are taking place. This is significant, because this information can be used to corroborate the overall nature of security threats that could be faced by the SME. Where, this
S. small business administration can help with (SBA, 2005). While this is not necessary it can prove useful for legitimizing or legalizing certain aspects of business operations and help businesses with financing and support from investors. An organization will next have to decide a location for their business and select a business structure, which is not limited to a corporation but may also include a sole proprietorship, limited liability company or
For instance, if a business is keenly aware of the manner in which different conditions are effecting business relationships, that businesses to work to make the appropriate changes. Stages of Development All relationships are governed by stages. Business relationships are no exception to this rule. There are various characteristics that businesses must be aware of as it pertains to each stage. According to Brooks (2008) that are four primary stages of business
Business Ethics Introduction (Summarize the overall viewpoint of the author, and discuss the major issues presented in the case.) In the case, the author is showing how Dennis Kozlowski and Mark Schwartz were at the top of an elaborate scheme to defraud Tyco. This was accomplished by talking about how their troubles began based upon Kozlowski's desire to avoid paying taxes on artwork in New York State. As the investigation expanded, the