Reference no: EM132881674
1. As noted in Lesson 2, part of a formal, complex business plan involves conducting a thorough analysis of the market in which the company will be offering its products and services. But even if a business has no need to plan their business with such a document, it is very important that they conduct sufficient Market Research. Review the notes in Lesson 2 regarding the Market Research Process, choose a type of business and a location where you would want to open that business. Apply the questions noted there to that proposed business. What additional questions would you want to ask? What other research would you want to do before opening the business.
Additional information may be found in Chapter 5 of your textbook Exploring Business at: Chapter 5: The Challenges of Starting a Business of your textbook Exploring Business
2. Financial Management goes far beyond accounting. What operational issues impact financial management? How can a business use efficiency to impact their profitability?
3. Review Chapter 7: Recruiting, Motivating, and Keeping Quality Employees and Chapter 8: Teamwork and Communications; and Chapter 12: People and Organization in Small Business Management in the 21st Century.
Read the following situation then answer the questions as part of well written essay. Include sources and citations a reference list at the end of your essay and adhere to APA 7th ed. formatting.
Case Scenario:
John Smithers learned all about leadership in the military, and he is hoping to apply those skills to running John's Deals to Go, his small automobile-leasing company. One interesting feature of life in the armed services is that considerable responsibilities are delegated to young men and women who have very little work experience. Smithers was only 27 when he was assigned duties as a purchasing manager at Kandahar Airport, Afghanistan, in 2003. As a young Marine, he was directly responsible for nearly $50 million in purchasing contracts, which forced him to grow up-and really fast!
To parallel his military experience, Smithers and his small management team have decided to use various methods to delegate decision making to employees at the operating level in his company. New employees are trained thoroughly after they are first hired, but supervisors will not monitor their work closely once they have learned their duties. Management is willing to jump in and help if truly needed, but they purposely leave workers alone when they take on their assigned duties. Managers will not look over employees' shoulders to be sure that they are doing their jobs as assigned, and they certainly do not monitor the work just to try to catch someone making a mistake. Smithers's managerial philosophy is that people work best when they sense that their superiors trust their abilities and their business integrity.
Smithers and his team sometimes leave for day-long meetings and allow the employees to run the business by themselves. Job assignments are defined rather loosely, but management expects employees to assume responsibility and to take necessary action whenever they see that something needs to be done. To reinforce the message of trust, employees who ask for direction are sometimes simply told to solve the problem in whatever way they think best.
Address the case scenario by applying the information learned in Lesson 6 and the related chapters in your textbooks. Answer the following questions in a well written essay.
• Is such a loosely organized firm likely to be as effective as a firm that defines jobs more precisely and monitors performance more closely?
• What are the advantages and the limitations of the managerial style described above?
• How might such managerial methods affect morale?
• Would you like to work for this company? Why or why not?
Instructions:
• Develop a formal 350word essay
• Your essay should include an introductory paragraph and a conclusion.
• Follow APA format for structure. An APA template is attached here. Support your essay with 3 credible, academic references beyond the course materials. Please note Wikipedia, Investopedia and similar general websites are not credible academic references.
4. Review Lesson 3 and its resources, as well as Chapter 9, Accounting and Cash Flow of your textbook Small Business Management in the 21st Century
Read the following situation then complete the three items below including a well written essay discussing the state of the business based on the statements (400-500 words). Include the requested statements as an appendix to your essay or as a separate Excel spreadsheet. Include sources and citations where appropriate and a reference list at the end of your essay. Adhere to all APA 7th ed. rules.
9.2 Financial Accounting Statements - Exercises from Chapter 9, Accounting and Cash Flow of your textbook Small Business Management in the 21st Century
1. Prepare a beginning balance sheet for the first day of Edwina's business.
2. Prepare income statements for the end of each trimester.
3. Prepare balance sheets for the end of each semester.
Instructions:
• Develop an Excel spreadsheet with one tab for each of the statements above.
5. review the business plan found in Chapter 16 Appendix of your textbook Small Business Management in the 21st Century
Instructions:
Develop a PowerPoint presentation with a minimum of 15 slides.
Your presentation should include a reference page on the final slide in APA format.
Utilize the "Speaker Notes" section to expand upon the bullet points in your slides OR record a video of your presentation and include the link with your submission.
Follow APA format for structure. An APA template is attached here. Support your presentation with a minimum of 3 credible, academic references beyond the course materials. Please note Wikipedia, Investopedia and similar general websites are not credible academic references.
Attachment:- business plan Assignment.rar