1.Identify a real, existing business organization – make your individual choice,
ID: 1121051 • Letter: 1
Question
1.Identify a real, existing business organization – make your individual choice, not with your group, and not the business your group is working on.
a.Explain the mission of the business, and a synopsis of the operations (what does it do, sell, etc.) of the business. Don’t forget to cite external information.
b.List at least 5 major fixed costs and 5 major variable costs of that business. For each cost, list the amount in U.S. $ on an annual basis. Explain why these costs are the main costs for the business `
one of the major fixed caused at Nike Inc. is that their
c.What would be the price point of one unit of sales of a major product or service? Why is that price point reasonable and realistic?
d.Calculate the breakeven point (number of units of your major product or service needed to break even). Show the process of your calculation.
e.If the business raised its price by 10%, how many more of its major goods/services would it need to provide to break even?
f.Given the break-even point and the business’s competitor’s price, would this price increase be reasonable? Why or why not? If so, what should the business do?
2.From the business of your choice in question 1:
a.Who are the competitors of the business, both direct and indirect?
b.What is the competitive advantage of the business over its competitors? Make sure to incorporate concepts and examples from our course and explain your reasoning in detail.
3.From our reading by Jeff Van Duzer (Why Business Matters to God), in your own voice:
a.How does the perspective of "why business matters to God and what still needs to be fixed" summary shape your group’s business project? Make sure to incorporate concepts and examples from our course and explain your reasoning in detail.
b.If you were to pitch your group’s business to investors, would pitching your business based on Jeff Van Duzer’s perspective help you obtain investment? Why or why not?
4.What are the key concepts (1 or more) of business and/or lessons that you will take away from this class, and how will you use it for your career? Make sure to incorporate concepts and examples from our course and explain your reasoning in detail.
Explanation / Answer
Answer) The IT selection and the budgeting are done by a group of special team. The recruitment of the professionals is done on the basis of the skills he or she is having. Budgeting is basically a phenomenon to decide what amount of money is required in what fields. Will it be sufficient to support those services or not ? These things are caluclated under budgeting. Budgeting is done on the basis of the demands, the places where there is more demand, more money is spent in such areas. It is basically a group effort between the business divisions and the IT. The responses from the various people, various employees etc make it easier for the firm to decide where extra funding is required where not. Well the organisation should adopt some policies like meeting minimum targets of selling products, must maintain a friendly environment, must not stick to a persoanl task, help the other individuals as well if you are free. Adopting such factors will definitely improve the efficiency and help in better the process.
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