a) What are the consequences of telling the president of your gross miscalculation? In order to determine the sales and income projection, it is useful to forecast the budget based on prior performance of the company. The business performance of the current year will shows how the company is actually performed and this is a good indication to expect the company will perform better in future. As to obtain an accurate sales projection, we collected all the information from the company because each area of business operation might have a separate budget. For example, Fernetti Conductor has a specific budget for advertising, purchasing, sales production and cash budget.
Also, everything is cooked the way the customer chooses. When finally served to the customer, if it is not cooked right or is not correct, they will offer to correct the problem. The amount of food given with your meal is a good amount. Employees of Ruby Tuesdays must love what they do because they have passion with every move. As when you walk through the door, to when you leave they are steady smiling and greeting you.
In a highly competitive business world, on a firm’s priority list is the subject of increasing profit and reducing cost. One might than pose the question, has this put them out of business (mom and pop store)? The answer is absolutely not, but rather, they too benefit from cheaper prices as they continue to buy in bulk and continue to operate as the name suggest, convenient
To start, I would like to be a hostess. Meeting and greeting, helping to organize the seating and reservations of the guests as they come in, ensuring they are comfortable and knowing I had some part in it, is a job that would make me happy. I would also like to be a manager after I have learned the basics and trained thoroughly, of course. Overseeing the daily activities of the restaurant and success of the business is a position that I would like to have one day. Working in this segment of the industry, I am sure to feel a sense of accomplishment after each day knowing that individuals left happy and satisfied and I played a big part in
Profit maximisation is assumed to be the objective of a firm, however there are other objectives that firms have, these include: revenue maximisation and sales maximisation. A firm aiming to maximise profit will aim to operate at output level Q, where Marginal Revenue (MR) is equal to Marginal Cost (MC). A process that companies undergo to determine the best output and price levels in order to maximize its return. The company will usually adjust influential factors such as production costs, sale prices, and output levels as a way of reaching its profit goal. There are two main profit maximization methods used, and they are Marginal Cost-Marginal Revenue Method and Total Cost-Total Revenue Method.
Being able to track sales compared to the previous years’ numbers is a valuable tool in being able to track business. They use this information to forecast on where they think the business will be heading in the next week, month, or year. If the debt percent gets to high then they need to adjust the amount of liabilities that they have to bring that number down. Knowing the times interest earned ratio allows the managers to know at what percent the company is earning interest on its net income. Investors find this information lucrative because the more expendable cash a company has the more likely they are to pay out in dividends for the stock holders..
In this task I was asked to tell Shafal the importance of cost, revenue and profits are all important to running a business. In section b I was asked I was asked to give examples what would happen if the Shafal does not bring revenue and she doesn’t make profit. Profit means the amount left from sales revenue after deducting the cost of producing the goods and services. The importance of profit for Shafal is that this canhelp the business to expand byreinvesting the profits in to the business. If she makes profit she can invest in new equipment or machinery e.g.
Look at your pricing policy and make changes appropriately. You should compare your own hire prices to those of your competitors, check can you afford a rise in your prices without losing custom? You can use the trading, profit & loss forecast to monitor your spending throughout the year. Keep an eye on your monthly expenses to ensure they do not creep up higher than what you are expecting, as this will affect your overall profit at the end of the year. Use the figures in both forecasts to make appropriate decisions to ensure the survival and success of your
WANGUI MUTHAKA CASE ANALYSIS 2 “ROI for a Customer Relationship Management Initiative at GST” EBTM 740 Tuesday March, 10th 2015 This case attempts to assess Teradata, a data warehouse technology provider, proposed data mart consolidation program for GST which would improve the effectiveness of the marketing programs and also increase the retention of the quality customers. In addition to that, the company could also analyze the trends of different customer, changes in their tastes and also launch new policies regarding to the needs of the customers. As a result, this would increase the profits of the company and hence, its market share significantly. The CFO of GST, Mark Johnson and Vice President of marketing, Erica Kolks are concerned regarding the profitability of the proposed program. The management of the company has decided to introduce changes to the business processes.
Valuable- Panera’s menu options are critical to its success because it offers high quality food at a lower price, and customers can enjoy it without waiting too long. The food is also considered organic this lifts the image of the company as there has been a lot of campaigns that encourage eating healthy Rare- the quickness of Panera’s food is one that can be hard to find in similar restaurants. Their bread is almost always ready to be served .The bakery industry however is not rare and unique. Other foods offered alongside