According to Derek Johnson, the best place to start a business is in college. He said so because college is a place where there is more time and resources to do research and also can test business concepts.
Businesses assist society first via the distribution of goods and offerings that are critical for survival. Moreover, they devise employment possibilities that help individuals inside the society earn earnings to find the money for their wishes.
A business case describes the purpose, or cause, that a corporation was to start with the base. It describes what makes a commercial enterprise-specific, in addition to what the commercial enterprise plans to do. A commercial enterprise cause isn't a project or value statement and is a great deal shorter than each.
One of the pinnacle business keys to success is taking calculated risks. dangers are an element and parcel of jogging a commercial enterprise. They let you make the right decision and end up a better entrepreneur who can take their commercial enterprise to the following degree
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To determine the ________, a manager must determine what is relevant or important to resolving a problem.
To determine the decision criteria a manager must determine what is relevant or important to resolving a problem.
what is decision criteria?Decision criteria are the principles, values, rules, factors, and conditions that an organization or group employments to choose an alternative or make a choice. These criteria direct groups in selecting a course of activity among a few choices. They make strides the quality, rationality, and fairness of the team's decisions.
The purpose of establishing criteria is to back a structured decision-making process and guarantee that choices made and options selected bolster the required results and activities, as well as the Core Values.
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A management concept based on an understanding of the changing needs and wants of customers and aligning operations accordingly, is called:________
A management concept based on an understanding of the changing needs and wants of customers and aligning operations accordingly, is called customer orientation.
A business strategy known as "customer orientation" prioritizes the demands of the client over those of the company. Companies that prioritize their customers are aware that without consistently increasing their customer focus, their firm will not succeed. It's a way of thinking that connects the objectives of your company and those of your clients.
What is customer orientation?
In a customer-focused strategy, you address the issues even if you have their money. The benefit comes from recurrent business as well as the initial sale. Customer-focused marketing converts one-time consumers into repeat buyers. It fosters support for a brand.Customer orientation has been thoroughly and regularly researched throughout the world. Essentially, it is paying attention to the requirements and wants of the client, acting in advance to meet those needs and wants.A business strategy known as "customer orientation" prioritizes the demands of the client over those of the company. Companies that prioritize their customers are aware that without consistently increasing their customer focus, their firm will not succeed. It's a way of thinking that connects the objectives of your company and those of your clients.Apple is a fantastic illustration of a company focused on the needs of its customers. In reality, Apple virtually always releases new products that address customer requirements and wants before they are ever voiced. Apple has a reputation for foreseeing and even influencing user preferences.To learn more about customer orientation visit:https://brainly.com/question/14745211
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According to the theory of mercantilism, a country has a favorable balance of trade when.
When a country could increase its wealth and power by obtaining as much gold and silver as possible and then sold more goods than it bought then it has a favorable balance of trade. In other words, whenever a nation's value of their exports is greater than the value of their imports then it has a favorable balance of trade. This is all according to the Theory of Mercantilism.
A system where more products leave the country to be sold than there were commodities going into the country to be bought was the goal of the colonialists' medieval theory of mercantilism, which is a set of state policies for the control of economic activities and trade.
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Use the P-L-O-C functions of management to list what is to happen in each step of your task, from beginning to the end. Be sure to work efficiently
and effectively. Think back to the example I gave in class about painting the room. Choose a task, the put the 4 functions of management to work to create your plan of action.
Four crucial functions can be used to summarize management ideas. Planning, organizing, leading, and controlling are these tasks. The P-O-L-C framework offers helpful direction for the optimal managerial position.
What is the importance of planning?
Planning enables us to identify potential barriers to our goal's achievement as well as potential facilitators and to determine what to do about each. Making plans enables us to take responsibility for our actions.
In the early 1900s, Henri Fayol first classified them as five functions. Planning, organizing, leading, and controlling are the four primary management activities that have been consolidated and decreased over time from all of Fayol's individual roles.
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In a transportation model, supply is also know as:__________
a. linear programming
b. production
c. origins
d. capacity
In a transportation model, supply is also know as linear programming.
Calculating the least expensive way to ship polyvinyl chloride polymer between four supply points and four demand locations requires the use of a spreadsheet and linear programming. Sensitivity analysis is used to determine how the unpredictability of unit shipping costs will affect the trading company's overall shipping costs.
Transportation model in linear programming Applying transportation models to issues pertaining to the investigation of effective transportation routes. i.e., how efficiently and inexpensively the available resources are moved to other locations. As a result, demand points are categorized as destinations.The transportation problem is a particular kind of linear programming problem where the goal is to reduce the expense of distributing a good from various sources to various destinations.A nation's infrastructure is developed in part through the use of transportation planning, or TP. It is difficult to choose the projects to be funded and implemented from the many possibilities due to the limited budget.The transportation problem is to a special family of linear programming issues where the goal is to transport a homogeneous good produced at a number of origins (destinations) at the lowest possible cost. The problem statement includes both the entire amount required by the destinations and the total amount of supply available at the origin. Additionally provided is the cost of shipping a unit of commodities from a known origin to a known destination. Finding the allocation that results in the lowest overall shipping cost is our goal.To learn more about linear programming visit:https://brainly.com/question/14309521
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How can using personal financial planning tools help you improve your financial situation? Describe changes you can make in at least three areas.
If you're looking for ways to improve your financial situation, using a personal financial planning tool is a good place to start. These tools help you track your spending and saving habits, create budgets, and plan for the future. By using these tools, you can better understand your financial situation and make informed decisions about your money. Managing your finances helps you meet your financial goals and improve your financial stability
What is financial health?
Financial health is a term used to describe the state of a person's money problems. Financial health has many dimensions, including how much you save, how much you save for retirement, and how much of your income you spend on fixed or nondiscretionary spending. Financial experts have developed rough guidelines for each indicator of financial health, but everyone's situation is different. For this reason, spend time developing your own financial plan to ensure you are on track to meet your goals and to avoid exposing yourself to undue financial risk should the unexpected occur. That is beneficial.
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Which adjective best describes someone who embodies all of the seven qualities that employers look for?
Personable is the adjective best describes someone who embodies all of the seven qualities that employers look for.
What is Personable?A person who is personable is nice and enjoyable to be around. Being personable can refer to a variety of distinct traits, including friendliness, warmth, openness, and generosity.
Understanding other people is a key component of being liked and approachable. People value it when others are considerate of their needs.
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Bob has been investing $3,250 in stock at the end of every year for the past 13 years. if the account is currently worth $83,680, what was his annual return on this investment?
His annual return on this investment will be 1161, or 11.61%
$64,800 = $2,750{[(1 + r)12 − 1]/r}
∴ r = 1161, or 11.61%
What is Return on Investment?A performance metric called return on investment (ROI) is used to assess an investment's effectiveness or profitability or to compare the effectiveness of several distinct investments. ROI is to quantitatively assess how much money is earned in relation to the cost of an investment.
ROI is determined by dividing an investment's return (or benefit) by its cost. As a percentage or ratio, the outcome is shown.
Because ROI is expressed as a percentage, it is simple to compare to returns from other investments, allowing one to compare a range of investment kinds against one another.
Thus, return on Investment is the cost of investment.
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The accounting equation is assets = liabilities stockholders' equity. accounts on the right side of the equal sign in this equation are increased with:________
The account on the right side of the equals sign in this equation is added to the debit.
The financial position of any business, large or small, is based on two main components of the balance sheet: assets and liabilities. Owner's equity, or shareholder's equity, is the third part of the balance sheet.
The accounting equation is a representation of how these three important components are interrelated.
Assets represent valuable resources controlled by the company, while liabilities represent its liabilities. Both liability and shareholder equity represent how the company's assets are financed. If it is financed through debt, it will be seen as a liability, but if it is financed through the issuance of equity shares to investors, it will be seen in shareholder equity.
The accounting equation helps to assess whether the business transactions carried out by a company are accurately reflected in its books and accounts.
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when should a factory stay open even if it is losing money
Even if a business ceases to exist, it will continue to pay its fixed costs, or the price for the fixed inputs.
Should a firm shut down immediately if it is making losses?If ceasing operations would result in a smaller loss for the company, it should do so. When the variable cost exceeds the total revenue, the shutdown occurs. The company will not be able to make a profit in the short term if it continues to run when the average variable cost is higher than the price.
How long can a company operate at a loss?You can only deduct losses from your business for three out of five tax years, according to the IRS. The IRS may prevent you from deducting business losses from your taxes if you can't demonstrate that your company is beginning to turn a profit.
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