FastFit Case Study Q1-6 General Question 1. Mark the main flows of goods and money in the diagram (above) and employ a key or table of descriptive elements to explain your answer. Chronological flow of activities (Business Process): 1. Customers give orders and purchase products. / Stores receive orders and money and offer products to customers.
Once the customer selects the deposit option and the account information is retrieved the customer will then be asked to enter the amount to be deposited. Once the amount has been entered the ATM mechanism to begin the deposit will activate and the customer will be requested to insert the deposit. After the customer places the deposit into the deposit slot mechanism the mechanism will detect it and the deposit slot mechanism will stop. The system will then add the amount of the deposit to the customer’s account and the ATM card will be returned to the
6. Customer receives products from the store in exchange for money 2 a) List the specific items of information that are usually gathered at the POS (Point of Sale terminal or cash register) and recorded when a customer checks out (excluding obtaining the identity of the customer which is covered in Q3)? Transactional Information * Transaction number * POS transaction ID * Payment method (credit/debit/cash) * Purchase date and time * Purchase receipt Product Information * Kind of product (Apparel/Equipment) * Size of the Apparel * ID of the product * Price of the product * Brand of the product Staff Information * Name of vendor * Vendor ID * Rank of the staff member * Department that the staff member is allocated to b) What are two important uses of this information at the store by the technician and by headquarters management – a total of four uses? (use a table) (It is important that you give different responses/uses for store manager and HQ) Uses of Information by Store Manager | Uses of Information by Management at HQ | * Depending on the product information the store manager is able to identify which products are sold more often and which are remaining in inventory. This
1) What are the three sections of a Cash Budget, and what is included in each section? The three sections of a Cash Budget are; Cash receipts, Cash disbursements, and Financing. A cash budget allows you to estimate and track all of the money that comes into and leaves your business. Cash Receipts are any monies your business takes in, such as sales receipts. Cash disbursements show where you must spend some of your money, such as on employee pay, raw materials purchases, and manufacturing overhead costs Financing shows expected payments and the repayments of the borrowed funds plus interest.
Audiotech Electronics have become very successful in meeting the demands the customer’s request efficiently. They are now functioning in a 35,000-square-foot factory with 75 employees. With the very high demand the company has had in their products, here in the United States, they are thinking that maybe they should expand globally. They need to research the demand of control consoles around the world and if it is something that other countries will want and in return demand the product Audiotech Electronics is marketing. The company will need to come up with a marketing strategy to bring the product to the forefront where everyone will be aware of it.
Project 1: Marketing Plan for a Service-Based Company Sean Van Poppel MKTG 340 July 16, 2014 1.0 Introduction 1.1 Service Industry Fitness has risen and grown much popularity within the past couple of years. With its growth throughout the country, there is an industry that is taking off. This industry is Personal Training. Personal trainers are people who guide you both in work out programs and dietary programs. These programs are fit to one person specifically allowing it to better fit a person’s wants and/or needs and receive faster and better results.
d. Remit the tape and the cash to central office. 3. The primary concern in this operation is control over cash, because all sales are cash. This concern was addressed by using a cash register, having the lead person check the cash, and depositing it intact daily. |LO 5 | |PROBLEM 6-3 THE DESIGN OF INTERNAL CONTROL DOCUMENTS | 1.
Description of FastFit’s Operations FastFit Sporting Goods is a successful New England regional supplier of sporting goods to the high end consumer market. They sell an exclusive selection of equipment and apparel to men and women who exercise and pursue outdoor activities on a regular basis. They operate five (5) upscale retail stores in the New England market that offer a high level of customer attention, with a headquarters (HQ) is in Burlington, Massachusetts, and a single warehouse, distribution, and eCommerce fulfillment center in Haverhill, Massachusetts. Most of their products are purchased from two suppliers, Winter Gear Distributers outside of Providence, Rhode Island, and Boston Fitness Supplies in Marlboro, Massachusetts. FastFit has expanded successfully in the New England area over the past five years.
| Cash flow and a source of value | This term is described of the flow of cash coming in and out. | Titman, S., Keown, A. J., & Martin, J. D. (2014). Financial Management, Principles and Applications (12 ed.). : Pearson EDU. | Project management | Project management is the organization of pace of a job and improvement of process.
Unit 1: Business Environment ASSESSMENT: 1 ASSESSOR: MR.RAZA SUBMITTED BY: BMM TAMJID OXF 0081 TABLE OF CONTENT page LO1: 1.1 Identify the purposes of different types of organization 1.2 Describe the extent to which an organization meets the objectives of different stakeholders 1.3 Explain the responsibilities of an organization and strategies employed to meet them LO2: 2.1 Explain how economic systems attempt to allocate resources effectively 2.2 Assess the impact of fiscal and monetary policy on business organizations and their activities 2.3 evaluate the impact of competition policy and other regulatory mechanisms on the activities of a selected organization. LO3: 3.1 Explain how market structures determine the pricing and output decisions of businesses 3.2 Illustrate the way in which market forces shape organizational responses using a range of examples 3.3 Judge how the business and cultural environments shape the behaviour of a selected organization. LO4: 4.1 Discuss the significance of international trade to UK business organizations 4.2 Analyze the impact of global factors on UK business organizations 4.3 Evaluate the impact of policies of the European Union on UK business organizations. UNIT: 1 INTRODUCTION: The term Business Environment is composed of two words ‘Business’ and ‘Environment’. In simple terms, the state in which a person remains busy is known as Business.