Business Ethics Case Study Essay Example

Business Ethics Case Study Essay example
1.The Facts: Kermit Vandivier works for B.F. Goodrich. His job assignment was to write the qualifying report on the four disk brakes for LTV
Aerospace Corporation. LTV purchased aircraft brakes from B.F. Goodrich for the Air Force. Goodrich desperately wanted the contract because it
guaranteed a commitment from the Air Force on future brake purchases for the A7D from them, even if they lost money on the initial contract.
John Warren is a seven–year senior project engineer with Goodrich was directly in charge of the original computations for the brake and the
preliminary design. While using Warren's design, it was Searle Lawson's job to run the preliminary test for stopping 51 times. Lawson found that high
temperatures increased the...show more content...
Mr. Vandivier later testified that several procedures violate military performance criteria. When the fourteenth series of test stops were completed,
Lawson asked Vandivier to help him to write the data and graphics report showing that the brake had qualified. He stated to Lawson that the data
report would have to be falsified to clear the brakes. Lawson replied he is aware of falsifying the data report, but he has orders to write it regardless of
the actual data.
Vandivier's managers insisted on him to write the entire report including the graphs and charts. Mr. Vandivier complied and on June 5, 1968 that the
qualifying report was finalized.
2. Obligation: The stakeholders here are Vandivier, Lawson and B.F. Goodrich. Each participating actor will be affected by the actions of others at
Goodrich. By Vandivier and Lawson freely entering an agreement to act as an agent for Goodrich, this means they accept the moral and legal duty to
serve their employer loyally, obediently and in a confidential manner as specified in the law of agency. With Vandivier teetering whether to do the
report, his decision will significantly impact his wife, his colleagues, and LTV and unknown citizens. If he follows through, he will have several deaths
on his hands with the possibility of more causalities. On the other hand, if Vandivier holds his ground
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Business Studies Oral: The Foschini Group
Jade van Heerden
Business Studies Oral
Part 1
Micro Environment
a)
Brief history and founder: The Foschini Group (TFG) is one of the foremost independent chain store group that was founded in 1924 by George
Rosenthal. Since 1924 TFG has grown rapidly by buying out other companies, joining them to the TFG. TFG has over 2000 stores and has been listed
on the JSE since the 1st January 1941. The headquarters for TFG is in Parow, Cape Town,South Africa. The target market of TFG is primarily Middle
and Upper income groups throughout South Africa. The TFG relies on 42.2% of turnover in cash form from customers with the balance being on credit
(fastmoving.co.za, 2014).
Micro Environment: Factors that affect the company and its ability to serve...show more content...
This is one of TFG's weaknesses as they cater for the middle–upper LSM which would lead consumers to settle for another brand as the consumer is
mainly satisfying a need and not brand insistence.
The Threat of New Entrants: A lot of new competitors have entered the market in the retail industry like Top Shop, Cotton On, Zara, H&M etc. These
are all brands from overseas, meaning they are highly updated in the trends of the fashion world which is what loyal customers favour. This is a
weakness for TFG as all the brands that are listed in the chain store group are South African and not international brands. This could lead to a decrease
in sales as a lot of consumers turn to trending clothing and products.
The Power of Suppliers: TFG have both international and local suppliers. International suppliers are in charge of importing/shipping the correct raw
materials to distributors. Before the stock reaches the distributors TFG takes possession over the merchandise. Each brand from TFG purchasing
merchandise is responsible for the correct ordering of the items being delivered. TFG aim on having a balanced, stable and professional relationship
with their suppliers to ensure good trading. According to the INTERGRATED ANNUAL REPORT of TFG 2012 (http://www.financial
–tfglimited.co.za
/ar_2012/services/tfg_merchandise.asp, 2012), TFG added up 86 local

Essay on International Business
Today's world of rapid increase in and expansion of technology is the reasons for recent International Business growth. The rapid growth in international
business makes an understanding of organizational behavior all the more important for contemporary managers. Businesses have expanded
internationally to increase their market share, as the domestic markets were too small to sustain growth. Business transactions are also becoming
increasing blurred across national boundaries.
Companies engage in international business to expand sales, acquire resources, diversify their sources of sales and supplies, and minimize competitive
risk. When operating abroad, companies may have to adjust their usual methods of carrying on business. This is...show more content...
When dealing with international finance, risk is calculated in many different areas. Here, I will discuss the financial risks associated with international
business, with an emphasis on the risk of foreign exchange rates. Country Risk When a business decides to become an international trader, one type of
risk that must be examined is the country risk. When a company accepts or approves credit to a foreign customer, they are not only assuming the
foreign company's risk, but also the country's risk. Country risk analysis means determining the country credit–worthiness. In terms of the ability and
willingness of a foreign government to make available to local companies foreign exchange necessary to service their foreign currency denominated
obligations or debts to foreign suppliers. (www.bcfm.com/financial_manager/szabo%20internationalfm98.htm)
Mitigation of Country Risk
One way a company can help to mitigate country risk is by fully researching the foreign country they wish to do business with. This is accomplished
by conducting a country risk assessment. This assessment takes into consideration the probability of credit loss or delayed payment, and uses the
results to determine if the corporation will extend credit with the foreign business. Foreign Exchange Risks Foreign exchange risks are often the result
of country risks. Foreign exchange risks can be defined as the ability and willingness of the

Personal Statement for Business Studies Essay
Personal Statement As we all know business is the way of the world. Business activities can range from shopping, promoting, buying, selling and
discounting, and as an individual we come across these everyday. I am very interested in Business as it is an area that I wish to learn more about there
are a lot of things that fascinate and keep my interest, however my greatest interest is business management. I believe it's a very exciting area which
will give me the opportunity to gain extensive knowledge and more understanding of the principles behind key business management and its demands
and challenges. The key thing that best excites me about this area is how it affects people's lives directly and indirectly.
I'm an individual that...show more content...
My role as an event organiser was to work as part of a team to run the event. I would complete a wide range of activities requiring clear
communication, excellent organisational skills and attention to detail. I would work under pressure, ensuring the event was running smooth and
effective. I performed the tasks such as choosing a date for the event, making sure that all the teams knew what they were supposed to do. I also
selected and confirmed a format for the adverts for the events. I also develop a timeline to include all major tasks, assigning a task deadline and
responsible person. We also booked the spaces for the event and organized signage, banners and other display materials. I believe that with this role
I gained knowledge and experience of how to be a good team leader and a good contributor and also how to run a team. This role also improved my
communication skills, with the ability to deal with a very wide range of people.
I believe that the most significant points that I have learned in my academic studies,is how a business is run, the processes that are need to help
resolve any business problems. Another significant point was being able to work to deadlines and handle pressure and being able to look beyond the
numbers to the business trends and drivers.
I am a person who likes spending time with friends and family. I like being part of things that go on my local community and

An Introduction to Business Essay
An Introduction to Business
Business plays a major role within our society. It is a creative and competitive activity that continuously contributes to the shaping of our society. By
satisfying the needs and wants people cannot satisfy themselves, businesses improve the quality of life for people and create a higher standard of living.
It is a way for individuals to provide goods and services to consumers, and at the same time, produce a profit for themselves. Businesses are not only
important because they provide goods and services for consumers, but they also improve the economy and increase jobs for people within society
which is an additional fact producing a higher standard of living. To measure our societies standard of...show more content...
International trade deficits occur when a nation imports more then it exports. The Decline of Smokestack America is when there is a change from an
industrial to a post–industrial economy. Finally, the conservation of energy is so that there are a sufficient amount of natural resources necessary to
produce goods. General economic growth or stagnation also has an important influence on business within our society. Many factors can affect it's
condition, such as war, new inventions and technology, political assassinations, the discovery of physical and natural resources, labor negotiations,
government action, and many others. When the economy is strong and the demand is high, businesses can prosper. Regardless of how great the
economy may become, businesses still must compete with other firms for scarce raw materials and labor.
A businesses environment creates many opportunities as well as problems for prospering businesses. The environment determines what a business can
do by shaping and channeling its development. Businesses function within an environment by allowing entrepreneurs to raise capital and create profits
freely. The supply of money available within a business as well as the economic stability through times of growth and recession have strong effects on
businesses. Not only is the physical environment, including natural resources, pollution and energy as discussed previously, important, but many other

How to write an extended response – Section IV of HSC Exam Question: Outline the marketing process and explain the importance of each element of
the marketing plan.|
Criteria:
In your answer you will be assessed on how well you: * demonstrate knowledge and understanding relevant to the question * apply relevant business
case study/studies and contemporary business issues * communicate using relevant business terminology and concepts * present a sustained, logical
and cohesive response
Remember an extended response is a structured essay not a business report with an executive summary and dot points throughout. Suggested word
limit: 800 words.
Before you start: break down the question
* outline = sketch...show more content...
A situational analysis is important as it provides a clear and precise understanding of the business's current position and where it is heading. For
example, prior to Aldi entering the Australian grocery market it conducted an analysis of its strengths, weaknesses, opportunities and threats (SWOT
analysis) and saw an opportunity to expand its operations to Australia selling low cost grocery items. For a situational analysis to be reliable it must
always be based on meaningful market research.
Paragraph (repeat for each paragraph) * Topic sentence * Expand/explain * Evidence/examples * Link (ii) Market research
The next step in the marketing plan is market research. Market research is....
Conclusion
* Summarise main points * Do not add any new information * Leave the reader with something to think about
Conclusion
In conclusion, this essay has outlined the six key elements of the marketing process: (i) situational analysis; (ii) market research; (iii) establishing
marketing objectives; (iv) identifying target markets; (v) developing marketing strategies; and (vi) implementation,

Reflection Paper On Business Studies
Reflection Paper
Introduction
Business Studies is an important course that prepares students to face the real practice of commerce. Engaging theory and practice is instrumental in
ensuring that students learn the underlying factors that determine the practice of every business practice. Carroll and Buchholtz (2011) suggest that
business forms the backbone of the current economic activities as every activity of human life must involve some loss and gain together. Additionally,
he notes that entrepreneurship is taking deep roots in the society, a condition which mandates everybody to possess some knowledge in business.
Drawing reference from the aforementioned statements, it is important for the society to have individuals who possess not only...show more content...
In this paper, emphasis has been directed on the success experienced during the semester, the hardships, outstanding findings and recommendations.
Success during the semester was contributed to availability of a course syllabus, group works and an engaging professor. By contrast, the semester also
suffered some downsides contributed by difficult and hard o understand topics as well as a demanding project. During the course of the semester, it was
discovered that some students develop affiliation with different topics, and hence it is important for the institution to put this into consideration in
creation of semester

Introduction to Business Studies
An Introduction to Business Studies Question 1 Arena flowers is one of the renowned UK based company delivering fresh flowers to the customers
directly from the growers avoiding the middlemen. SWOT analysis is conducted below to see what are the strengths, weakness, opportunities and
threats for the company (Graham, 2011). SWOT ANALYSIS Strengths: Human Resource Management: Company can hire employees at low cost
Flexibility to hire and manage its human resource easily according to the need. As in peak periods like Valentine's Day; company hires temporary
employees. And in ordinary days; company prefer having low staff. No special training and qualification needed for the employees so the company can
easily hire people according to its need. Accounting and finance: Company has a great sales turnover which gives company enough finance to expand
its business. In peak periods company's accounts payable are all paid. Marketing: Company has not only used internet medium to market its flowers but
also market it through its interaction with customers while delivering the orders. Weakness: Human Resource Management: As the company hires
temporary staff according to its needs; it creates dissatisfaction and stress among the staff which ultimately affects their job. No career opportunities for
the employees that are why they are less dedicated and keep on looking for better opportunities. Accounting and finance: No consistency in making
profits. In

The Role of Business Essay
The Role of Business
Is Corporate Social Responsibility good for business or simply goodwill?
Introduction:
What is the role of business? Is it to generate wealth for the company and its shareholders, or is it purely for benefiting the public? This is what I will
attempt to answer in my essay.
There is more than one definition for corporate social responsibility. One way in which it can be defined is the obligation of organisation management
to make decisions and take actions that will enhance the welfare and interests of society as well as the organisation (Daft, 2003). In other words,
corporate actions have social implications, and managers have a responsibility to act in ways which...show more content...
Is being socially responsible actually good for business?
In one sense, social responsibility is good for business, according to those promoting the idea. It has been said that it enhances the public image, and
this is mainly due to it being publicised by media coverage or through simple word of mouth (Boddy, 2005). It has also been said, that being
increasingly socially responsible, companies can avoid intervention from the government (Boddy, 2005). This could be because they are reducing
emission from their factories or offering a large amount of jobs in an area where there is high unemployment.
Some companies adopt a more socially responsible approach as it ties in with their business strategy. Here, the company places corporate social
responsibility at the very heart of the business, maybe due to the underlying beliefs and values of the original founders and senior managers of the
company. An advantage of this is that their activities can gain extensive media attention; therefore, they can increase loyalty from customers and
create a brand image with very little advertising. The Body Shop, for example, from the start took a socially responsible stance. One of the firm's
early campaigns was the removal of animal testing for cosmetics. This stance worked well for the company, creating a unique selling point, and helped
it become a major retailing group.

Statement of Purpose for Business Studies
STATEMENT OF PURPOSE I am entering the most crucial phase in my life; a phase during which I need to make significant academic decisions that
will have a bearing on my future life and career. After thorough introspection of my strengths and interests I have concluded that a program that
integrates Economics, Accounts and Business studies is the most appropriate choice for me. My father is a Fellow Chartered Accountant and Associate
Cost and Works Accountant. He works in the area of international development, handling loan disbursement, financial appraisal, review of accounts and
audited statements of different development projects financed by the Asian Development Bank (ADB). He is presently posted in ADB, Manila and
supervises the...show more content...
In eleventh grade, I successfully completed a project in Economics using statistical tools of analysis. The project was to design and conduct a survey on
the use of mobile phones and interpretation of the result using graphs, pie charts and percentages. This project helped me comprehend the basic
concepts of Statistics such as formulating appropriate questionnaires to elicit adequate and useful information, conducting surveys, using analytical
tools of statistics, interpretation of results and conjecturing. I also undertook a project in Business Studies on Shares and Debentures and stock market.
This project was assigned to make us familiar with the various financial instruments used in the stock market. This project helped me gain insights into
the fundamentals of the subject and get an overview of the finance and the Stock market. Recently, in twelfth grade, we were assigned project in
Accountancy on the Analysis of Financial Statements. This project required us to take a company's audited financial statements and analyze its
operational stability and financial soundness with the help of accounting ratios, share price analysis and cash flow statements. This project has proved
to be a ready–reckoner that has helped me understand several concepts through practical analysis and

Grade 11 End of Year Business Studies Exam Paper
Grade 11 end of year Business Studies exam paper SECTION A QUESTION 1 1.1Various options are provided as answers to the following questions.
Select the correct answer and simply write the letter (A – D) in the block provided alongside each question. 1.1.1Government budgets and allocations to
the various sectors forms part of the ............... A.Fiscal Policy. B.Monetary Policy. C.Micro–lending. D.REPO rate. 1.1.2Which of the following are
the characteristics of the company Urban Brew Ltd: i.It's name ends with proprietary limited ii. The liability of shareholders is limited iii. Meeting of
shareholders are required iv. The public are invited to buy shares v.Shares are freely transferable vi. The are 1– 10 members...show more content...
__________________________________________________________________________ 2.8A sector consisting of those organisations controlled by
government. __________________________________________________________________________ 2.9The term used for countries around the
world trading with each other and sharing resources. __________________________________________________________________________ 2.10
Inputs into an organisation such as land, labour, capital and entrepreneurship are known as ..............
__________________________________________________________________________ (10x2=20) QUESTION 3 Indicate whether the following
statements are true or false. If false, correct the statement. A statement that is "true" will carry a weighting of ONE mark while an incorrect statement
will be TWO marks. 3.1The Act dealing with the working conditions of employees is known as the Labour Relations Act.
________________________________________________________________________________ 3.2'Inflation rates' is a factor forming part of the
market environment. _______________________________________________________________________________ 3.3The suggested document of
agreement between partners in a partnership is a Memorandum of Incorporation.

Introduction
A significant and controversial question is how management is different from leadership. Some view the two as essentially the same; however, in
increasingly complex and dynamic businesses, a need for greater specialization requires that we recognize that they are different. Managers and leaders
are essentially two different functions and they serve two different purposes within organizations. Leaders promote new directions while management
implements existing processes as efficiently as possible (McCrimmon, 2007). Managers and leaders are both essential in organizations and must be
separate components that work together.
Leaders do not need to know how to manage, but managers need to know how to lead. This analysis will...show more content...
Management is concerned with immediate problems at hand, focus on what needs to get done, and utilize resources and people to ensure organizations
run efficiently. It helps organizations produce products and services consistently and within a given budget (Kotter, 2013). Management roles are
essential within organizations because they perform tasks that help organizations become reliable, consistent, and efficient (Kotter, 2013).
Some scholars identify leading and managing as mutually exclusive roles requiring different values and traits in order to be executed successfully
(Yukl & Lepsinger, 2005). One of the earliest concepts ofleadership, known as trait approach, included the idea that leaders were individuals who were
innately different from the rest of the population, and possessed unique leadership traits (Daft, 2011, p. 19). Traits frequently associated with effective
leadership include optimism, self–confidence, honesty, and drive (Daft, 2011). However, there have been inconsistencies among research regarding
specific leadership traits that are common among all leaders in all situations (Stogdill, 1974). Scholars who support this notion argue that "managers
value stability, control, and efficiency, whereas leaders value flexibility, innovation, and adaptation" (Yukl & Lepsinger, 2005, p. 361). Additionally,
leaders are argued to have the ability to tolerate chaos and lack of structure, whereas managers seek order and control (Zaleznik, 1992).

Academic Skills For Business Studies Essay
469 Academic Skills for Business Studies
Assignment 2 Research report
Submitted to Guillermo Merelo Submitted by Charanjith Bawa
Team Work
Introduction
In today's complex and ever changing environment, organization continue to experiment with new forms of team development. Some of the most
successful teams bring together employees with different talents and perspectives. In this research report, my aim is to have a clear and deep research on
teamwork and how it affects businesses so that I can help Tina and Frank who is coming back from overseas to start their own business. Before could
anybody start their business, it is very important to learn certain aspects. Team work is one among them. I have included some of the important
information I collected through my research in order to help Tina and Frank succeed in their business.
Findings Teams have become very common and effective since they have proven to be effective in areas as cost reduction, developing new and
innovative products, and improving quality (Effective Human relation, 2008). Team development is supported, in fact, required by almost all
managements today, but still it may take quite a long time for the members to learn the task and activities and to fit themselves in the particular
environment. Team work may vary as the organization or company varies. Team work involves a lot of important aspects such as relationships,
cooperation, learning, leadership etc. since a team works together in

Essay on Business Studies
Financial AccountsThe Assignment
Liam O'Brady owns a business selling musical instruments. The following trial balance has been extracted from the books of account at 31 October
2012. DrCr
ВЈВЈ
Bank balance19281
Capital balance as at 1 November 201161489
Carriage inwards480
Carriage outwards2110
Discounts664811
Drawings28650
Fixtures and fittings – at cost62200
Fixtures and fitting – provision for depreciation27990
General expenses7436
Insurance1158

Purchases and sales129745206543
Rent and rates10926
Returns375619
Inventory at 1 November 201148560
Accounts receivable and payable11285...show more content...
During November sales of ВЈ3225 were recorded, as were purchases of ВЈ2300.The following matters also need to be taken into consideration:
Eight classical guitars costing ВЈ220 each need to be repaired before they can be sold. It is expected that each guitar will cost ВЈ35 to repair and that
they can then be sold for ВЈ260 each.
Two drum kits, costing ВЈ900, would normally sell for ВЈ1200. They have been "on sale" at ВЈ1175 each for several months. It is decided to drop the
sale price even further to ВЈ975 each and to re–skin some of the drums at a total cost of ВЈ130.
According to the stock records, there are 27 recorders, with a value of ВЈ4 each. The stock–take revealed that there were only 22 recorders.
G hjkjhlhljhjn
Liam O'BradyRequired tasks
Task 1
Review the additional information items and prepare the journals that will be required. Each journal is to include a brief description indicating why it
is required.
Task 2
Stock is to be valued in accordance with accepted accounting practice. State what the standard practice is.
Prepare a memorandum note for Liam O'Brady explaining any adjustments you propose to make to the stated stock value (ВЈ55630). State the final
stock value that you propose to use. Show any workings.
Task 3
Using the information given above prepare the Income Statement (Trading, profit and loss account) for the year ended 31 October 2012 and Statement

of Financial Position (Balance sheet) as at 31 October 2012

Essay about Business Administration
Business Administration
The idea of studying business administration has appealed to me greatly and has encouraged me to further develop my education following this path. I
have a keen enthusiasm to pursue a degree in Business Administration as I enjoy the challenges it sets and find the many different areas of business
you are able to branch out into, very exciting! From research about the subject I'm expecting to greatly further my learning of how businesses operate
and be able to then put my knowledge into practice. I am confident within myself and find communication with others easy. I want to study at
university to deepen my understanding of the knowledge and skills I already have. I...show more content...
I am studying Media Studies, which is progressing my understanding of advertising, used throughout business and also Geography, which is
developing my analytical skills in report writing, but also helps me combine my theoretical studies and practical work a skill I will be able to use
on my university course. I studied I.T for G.C.S.E then furthering my knowledge, I studied I.C.T for A.S Level as I recognise that a skill for
information technology is useful, if not essential, for the progression of business in modern society. During the year I am studying my three A levels,
I have also decided to study Business Studies at A.S Level, due to an increase in eagerness to pursue the subject but also to ensure I have a basic
understanding of business operations for further use in my learning in University.
I have managed to balance my 'A' Levels with a part–time job and an enjoyable school and social life, which has not only developed my skills of
working as part of a team and organising my time efficiently but has also left me with experience of responsibility and leadership, when being chosen
to supervise a particular area of the business I work in. I have been involved in voluntary work for 'Save the Children', which I believed

Business Case Study : Business Case Studies
Writing Business Case Studies
How to Write Business Case Studies
The objective of this part of the course is to use your case study to help you solve real company problems and to make the learning more relevant to
your experience.
The Business Case Study you are being asked to start today will provide information for yourself and the class to permit constructive feedback. You
will have to use all of your research, writing and analytical skills to write your Company Case Study.
You must give enough information to allow the class to help you analyze the relationship between a challenge and possible solutions.
If you are too vague the class will not be able to help and you will not derive the full ROI from your participation in the class.
If the case involves analysis of financial data please include sufficient data.
Data can be in summary form and need only be representative of actual data.
I will review all case studies and may ask you to rewrite and resubmit the case. Because of time constraints I can only allow for one review per student.
Begin the case study with an introduction, leading into the analysis that enables the reader to evaluate the information presented in the study.
You can make the Case Study as simple or complex as you wish, but be sure to provide enough information about the challenge and its environment so
your peers can provide constructive input about a possible solution.
The Problem Statement o Nature of the problem (describe) o Scope of

Business and Social Responsibility Essay
Business and Social Responsibility It is widely known that for a business to be successful it needs to provide a good or service that is desired by the
public and also to obtain a profit in providing said good or service. Now while these are the most important components to a successful business, they
are not the only ones. The social responsibilities of a business include the following: environmental protection and preservation, employee safety and
morale, product safety for the consumer. The financial manager must keep these three social responsibilities in mind when making any and all
decisions. The environment has become a big issue over the last 30–40 years, especially for the businesses that may negatively affect it....show more
content...
In turn this bad publicity has negatively affected the business and in a lot of cases, caused the business to fade away. It is the job of the financial
manager to oversee these environmental issues and make socially responsible decisions not only to avoid bad publicity, but to do their part in aiding
the environment in a financially sound manner.
A business's employees are probably the most important part of the organization. In short, if there is something that hinders the performance of the
employees the whole company suffers. Providing a safe and stimulating work environment is another thing that a financial manager should do to
efficiently and effectively turn out a superior product. By keeping employee accidents to a minimum a business will avoid costly lawsuits and
down–time.
Every business must realize that an unsafe product will not last in the open market and will, in the long run, cost more money to correct. The financial
manager must understand that, above all, the product must be safe. He/she must decide the most cost–effective manner to manufacture the product and
also have it deemed safe to use. I believe that this detail of product safety should be addressed very early on in the production process, as should the
other two.
In conclusion, a business has an obligation to return something to society. Although the financial manager's main purpose is to acquire and control
funds efficiently and effectively to maximize

Business Studies Essay Relating to Finance
Financial Management is a critical aspect of any business in order to achieve a sustainable and efficient cash flow. It is essential in maintaining the link
between a business's future financial goals (profit maximization) and the resources that it has in order to achieve its objectives. Businesses demand
certain common goals that increase a bussiness's all around achievement, Some of which involve; growth amongst assests, An increase in efficiency in
all areas of the business whether it be management or not. And the ability to meet short term and long term debts. Finacial management undertakes the
responsibility to implement and acheive these goals for the business using a range of strategies shaped to meet the needs of the business and...show
more content...
By spreading expenses over the whole year there is a more equal cash outflow each month rather than one huge outflow during one month. An example
of this is the offer from insurance companies to be able to pay insurance premiums monthly instead of annually because of the excessively high costs.
Another strategy commonly used is 'Discounts for the early payments', This is where a business may offer discounts to account customers for the early
payment of their accounts to speed up cash inflow. This discount may be a little as 2–5%, but shows effective in terms of cash inflow as it gives
incentive for the customers, Giving both the customer and business a gain in the financial situation. Other incentives for early payment could include
small gifts and discounts on future orders that the customers may have. The business then may shorten the credit terms it allows for account customers.
Thus Reducing the number of days that a customer can take to pay its invoice, this will speed up cash inflow into the business as it recieves cash from
its sales much sooner.
Factoring, a short–term source of borrowing for a business. IT enables a business to raise the funds immediately by selling accounts receivable at a
discount to a firm that specialises in collecting accounts recievable (a finance or even factoring buiness). Factoring is an important source of short–term
finance because the business will recieve up to 90% of the totaly amount of

Essay about My Business Idea
My Business Idea
In my coursework I intend to start my own business. I will devise my own business plan which outlines my business proposal and the key aspects,
during this I will need to seek good business advice on the necessary steps I will have to make. As I go through the coursework I will show evidence,
examples and explain how businesses are set up, what types of businesses there are and their similarities, the kind of targets businesses set for
themselves and also the different objectives of different stakeholders. For my business I plan to sell toys and other game products that educate young
children under the age of 11.
Starting up a business is difficult and risky. Anyone setting up needs to consider:
В·...show more content...
Most people though have to research their product. Businesses also have to decide how the product is to be made.
Finance
=======
No businesses can be set up without finance. Most people who start their own business underestimate the amount of money they will need to set up.
They are often UNCAPITALISED and this causes problems as the business expands. Some businesses have the potential to be highly profitable but
fail because they run out of cash at a crucial early stage in the life of the business. So it is very important to work out how much money is needed to
start the business and to identify where the money will come from.
Identifying the sources of help
===============================
Most new businesses don not survive for more than three years of trading. However, their chance of success is much greater if those setting up the
business have received help from experts before the launch. Many new businesses turn to Business Link or to their local

TEC. They can identify any grants, loans or benefits that are available from government or from bodies like the Prince's Trust. They can also organise
training in setting up small businesses that is so often vital to the survival of the business.
The business plan
=================
Drawing up a business plan is very important. The business plan sets out how the business is to be set up and

Business Ethics Case Study Essay Example

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