position. I believe that, although there are many negative consequences that come along with the introduction of a new Walmart, that they are beneficial to the quality of life for a community. Te he introduction of a new store brings new jobs to the community, ones that might not have ever been created, had it not been for this store being built. It provides one stop shopping for people of that area and also provides goods at a price much cheaper than a “mom and pop” store could have. This fact alone is going to boost revenue for the town.
Pro Forma Thomas Walker MGT 300 November 21, 2011 Instructor Trent Dodds Pro Forma Entrepreneurship allows an individual to experience the joy of doing a job he or she loves while taking control of one’s own destiny and providing societal contributions. Despite surmounting wealth there are potential drawbacks. Launching a business requires a huge undertaking of the entrepreneur’s time and energy. There is no way to guarantee the venture will survive, grow, or produce a profit. Developing a strategic business plan to manage capital and human resources is quintessential to escaping some of the potential pitfalls.
Without customers, there is no business and this will hurt this large company in the long-term. Not only is it right for the company to give more consideration to their employee’s desires but it will also contribute to the bottom line. Their customer will know the value of their company and employees will be more productive in what they do and proud of who they work for. Wal-Mart makes an average of $245 billion in revenues; therefore they have the resources to treat employees fairly. It is important for their corporation to take care of their workers and have a reputation of treating them fairly, which is important to the customers.
In short run profit maximization will increase however in long run it is harder to increase companies profit because they will need perfect information in order to prevent the risk of the market. According to reality in most of times big companies work for society, to get a brand image and name lowering prices, use child labor and pesticides in order to create lower cost and therefore increase their profit. Sometimes companies make polices in order to get subsides as low carbon emission. As a result more consumers are demanding these products. In the short run firms may not increase their profits because the cuts in prices but if they achieve this in long run they may experience maxim profits.
The primary goal of any business is to make a profit, regardless of its product. People form businesses because they have a product in which they think consumers want and in-turn the business owner will make a profit selling. Results of a successful business can be seen in many other areas such as creating wealth for its shareholders, creating jobs for the community, building a namesake brand and even increasing property values of the neighborhood in which it is housed. But a business is only as successful as it relates to the community in which it serves. Alienation in the local neighborhood is a sure fire way to go out of business!
Unit 1: Exploring Business Activity M1 (Assignment 1) Oxfam Stakeholders Aim of organization Influence Point of view Owners To work with others to overcome poverty and suffering. The owners have a large influence on this aim. In their view, if they get all their staff to achieve this aim then they are giving a good name for Oxfam and will receive further donations and funding. Shareholders To work with others to overcome poverty and suffering. Their influence is not a lot on this aim.
Herman Miller also tried to strengthen existing relationships with strategic suppliers. This strategy was important because it enabled Herman Miller Inc. to achieve world-class status in its industry. Herman Miller reduced manufacturing cost, inventory costs, and time saving due to high standard production. Those changes positively impacted Herman Miller sales. 2.
The functions of being socially responsible also means that the company has goals of embracing the social responsibility and encourages positive impact throughout the environment, its employees, its consumers and its communities. The company encourages and contributes to the economic growth and improving the local community and society. Company Q's is not embracing being socially responsible by closing two stores in higher crime rate areas because they are losing money. They failed to recognize that by making changes throughout the specific stores, not only could they have become profitable, but would have been able to provide local jobs in the community. Company Q failed to act in a timely manner to stock stores with health conscience and organic foods that were requested by customers for two years.
Planning your future business transactions can assist you in mitigating tax implications relating to your business as well as your personal lives. John has received the money from the settlement and there’s not much to do to mitigate the tax impact strictly on those earnings; but by using the funds to save for retirement, invest in the new building, purchase a new home, and even to help Jane start up her business will help decrease the overall impact as well as help you guys be better off business wise. The building and the equipment will become capital assets for each business and these can be depreciated over their useful life decreasing the burden on the businesses. Additionally any ordinary and necessary business expense can be used to offset their earnings and lower their tax liability even further. Hope all this information has helped you in some way, please let me know if you have additional questions or concerns.
You may not be able to offer or afford the low prices that the corporate chain store can charge or offer. By providing excellent customer service you can offset the effect of higher prices by offering a better customer service experience . to manage the higher prices they can satisfy the customers with marketing strategic techniques by spending money on advertising to get your products and service to be heard, do it gives a pleasure view of the quality of products, so this make the organisation feel very proud of offering sensational customer service. How does effective customer service benefit the employees Creating a successful working environment can enhance the importance of leading improvised employees and their morals of giving customer satisfaction and they are eager to help and put irate customers ease and improve their shopping experience. So therefore, it can overwhelmingly lead to a pleasant working environment which makes employees feel satisfied and good at what they do.