How you used the ideas from the readings

Assignment Help Finance Basics
Reference no: EM132028104

Question: Part 1: Your company has decided to lay off 10 percent of its workforce to maintain profitability. Although every department has participated in cost-cutting measures, expenses continue to mount, and sales are not where they should be. Your direct supervisor, Shirley Schmidt, has asked you to draft an email that goes to the staff whose jobs are untouched by the layoffs. The goal is to assure key employees that management is in control of the situation. You need to emphasize that your company maintains a strong strategic vision, and that management is convinced of the firm's rosy future in the tech industry. Still, layoffs are necessary to make the company more financially stable. Ever mindful of its people, your company is taking all possible measures to assist those who have lost their jobs. These reductions will help make the firm stronger, says Schmidt.

In addressing remaining employees, your message should explain the bad news and strive to preserve employee morale. Decide whether to use the direct or indirect approach. Apply as many concepts as possible from the readings. After you've written the letter, write an essay describing how you used the ideas from the readings.

Part 2: One part of your company's business (again, the same company in the Case Assignments 1 and 2) is website design and hosting services. Your company values its clients and understands that the recession has affected everyone. But lately you've realized that some clients are sapping your business's already stretched resources. One of your first patrons-Minnie MacElroy of Minnie's Miniscule Miniatures-has been a demanding client from the get-go. She asked for changes to the site design she had already approved, forcing you to put in more hours than your quote covered. Once the site went live, Minnie consistently badgered you to make other changes so often that you did them without charge just to get her off your back. When payment of her monthly hosting fee started becoming erratic, you agreed to let her slide until her business picked up. But now she's six months delinquent.

Despite repeated phone calls and several letters asking her to make a payment, you have received nothing. As a business owner, you understand how difficult it is to keep your doors open. You have had to lay off your best Web designer and are now doing your own bookkeeping instead of paying for that service. The contract MacElroy signed has a provision that if an account remains unpaid, your company may opt to render the site nonfunctional. The contract also states that your company retains the copyright on the design of any site it has created. While you are hesitant to lose any business in this economic climate, you have decided that some clients are more trouble than they are worth, and that if MacElroy doesn't begin paying the money she owes you, you will exercise your option of closing her site.

Write a letter informing Minnie that you are closing down her site if she does not pay the money she owes you. Should you fully explain that she has been a difficult customer, or should you rely on her lack of payment as your reason for threatening to break the contract?

Address your letter to

Ms. Minnie MacElroy,

27694 Bay Point Lane,

Bonita Springs, FL 34134.

(Assignment derived from Dr. Guffey's Business Communication Newsletter)

Reference no: EM132028104

Questions Cloud

Evaluate what is the net return : If you bought the bond for the original price of $828 and sold it 1 year later for the price computed in part (b), then what is the net return?
Analyze the issues and prepare any necessary journal entries : For this assignment, you are required to analyze the issues and prepare any necessary journal entries. In addition, you need to create a log of issues
Calculate the annual compound growth rate : Calculate the annual compound growth rate of the house price during the period when the house was owned by Robert G. Goldstein (since 2007).
Which is the relevant yield for an investor : Paradise Adventures issued 7% coupon bonds with a maturity of twenty years five years ago. The bonds are callable beginning 10 years prior to maturity at 103%.
How you used the ideas from the readings : In addressing remaining employees, your message should explain the bad news and strive to preserve employee morale. Decide whether to use the direct.
What about the smaller ones : This is quite an easy discussion to have for larger companies, but what about the smaller ones? I would love to hear your thoughts on this.
What is the discount rate of stock : It just paid an annual dividend of $1.55 and has an expected growth rate of 3%. What is the discount rate of this stock?
Describe the business-unit strategy of vertical integration : Briefly describe the business-unit strategy of vertical integration;Briefly describe the business-unit strategy of unrelated diversification;
What is the proper cash flow amount to use : Parker & Stone, Inc., is looking at setting up a new manufacturing plant in South Park to produce garden tools. The company bought some land 8 years ago.

Reviews

Write a Review

Finance Basics Questions & Answers

  Financial reporting and analysis

Finance is about Gunns Ltd, a company in dealing with forestry products in Australia. The company has also been listed in Australian Stock Exchange. As many companies producing forestry products, even Gunns Ltd is facing various problems. Due to the ..

  A report on financial accounting

This report is specific for a core understanding for Financial Accounting and its relevant factors.

  Describe the types of financial ratios

Describe the types of financial ratios and other financial performance measures that are used during venture's successful life cycle.

  Differences between sole proprietorship and corporation

Briefly describe the major differences between a sole proprietorship and a corporation

  Prepare a cash budget statement

Calculate the expected value of the apartment in 20 years' time. What is the mortgage loan repayment at the beginning of each month

  What are the implied interest rates

What are the implied interest rates in Europe and the U.S.?

  State pricing theory and no-arbitrage pricing theory

State pricing theory and no-arbitrage pricing theory

  Small business administration

Identify the likely stage for each venture and describe the type of financing each venture is likely to be seeking and identify potential sources for that financing.

  Effect of financial leverage

The Effect of Financial Leverage and working capital management

  Evaluate the basis for the payment to the lender

Evaluate the basis for the payment to the lender and basis for the payment to the company-counterparty.

  Importance of opps, ipps, mpfs and dmepos

Research and discuss the differences and importance of : OPPS, IPPS, MPFS and DMEPOS.

  Time value of money

Time Value of Money project

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd