1. Your cousin wants to start his own business, and he is in a hurry. He has dec
ID: 1190119 • Letter: 1
Question
1. Your cousin wants to start his own business, and he is in a hurry. He has decided not to write a marketing plan because he thinks that preparing such a document would take too long. He says he doesn’t need a formal proposal because he has already received funding from your uncle. Explain why it is important for him to write a plan anyway.2. Describe three situations in which you would not purchase the products of a firm even though it is very socially responsible. 1. Your cousin wants to start his own business, and he is in a hurry. He has decided not to write a marketing plan because he thinks that preparing such a document would take too long. He says he doesn’t need a formal proposal because he has already received funding from your uncle. Explain why it is important for him to write a plan anyway.
2. Describe three situations in which you would not purchase the products of a firm even though it is very socially responsible. 1. Your cousin wants to start his own business, and he is in a hurry. He has decided not to write a marketing plan because he thinks that preparing such a document would take too long. He says he doesn’t need a formal proposal because he has already received funding from your uncle. Explain why it is important for him to write a plan anyway.
2. Describe three situations in which you would not purchase the products of a firm even though it is very socially responsible.
Explanation / Answer
The first part is called project planning and scheduling. No project, at least officially, is executed without a 'plan'; that is to say, no busines, corporate or home-made is undertaken without a strategy and purpose of achieving the objectives because without that certain planning, a business simply cannot be taken ahead. Planning thus gives direction to a proposal. Lets take the case of environmental pollution and how cosnumers are trying to prevent it by transforming their automobiles by using compressed gases and even electricity in place of traditional gasoline. The general thinking that reducing the use of gasoline and other such fuels and rather increasing and developing more environment friendly engines and machines would mean much lesser emission of polluting gases in the atmosphere. However, there is a negative sid to this approach too. Technically, forcing your usual car engine to run on compressed natural gas instead of gasoline will increase your engine's chances to get more damaged or perform much less than the usual potential. In the end, since the egine was desgined to run on traditional fuel, the expenditure on car service, repair and maintenance will increase, putting down your overall real income. At macroeconomic level, social welfare will be affected. Overall real incomes of consumers will decrease, putting pressure on the government, even prompting inflationary tendencies since higher automobile costs will result in more money being circualted in the economy. Very much the same can be thought of other such commodities.
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