Assignment 1 free essay sample

Professor Identify the pros and cons of the partnership as a form of ownership. Discuss funding options for small businesses. Determine and discuss how managerial accounting can help managers with product costing, incremental analysis and budgeting. Discuss the basic components of the marketing process using a product or service of your choice as an example. Discuss the roles of social responsibility and technology in the marketing function. A partnership as a form of ownership is formed quite simply. When two or more people get together and come to an agreement on what type of business to take part in, then all parties share investment, profit, and of course loss. Lets discuss the pros and cons ofa partnership. Pros, one of the many things all investors would like to see out weight the cons in anything they are engaged in mentally, physically, and of course financially. First of all, one pro would be how easy it is to create a partnership. We will write a custom essay sample on Assignment 1 or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page You simply get with at least one other person come to an agreement over all the business details, and BAM you have a partnership. Some people are comfortable in erbal agreements but I personally would suggest you get all your partnership details on a written legal document Just in case. Funding is another advantage toa partnership. When two or more people come together to form a business partnership money is invested from all parties involved in turn the business has a stronger financial backing to support it. Not only will the business have a strong financial backing all partners invested may have access to outside money to support the business even further along. One of the best advantages in being in a business partnership is shared responsibility. Shared responsibility is crucial in a successful business and of course partnership. When the business starts to get a bit heavy you can hand it to your partner or partners to carry the work load for a while. You can also look to your partners for moral support when you may think things arent going as stated in your business plan. So far we have heard the pros ofa business partnership but like every bandage that fixes that painful spot you eventually have to pull it off. Cons, the opposite of Pro, the many things that all business investors need to know before investing but never want to hear. You may be thinking since it was a breeze to create this business partnership the rest will come as a breeze. You could your mind; everyone who is a partner is liable for all debts. You and your partners are all Jointly or individually liable for all debts accumulated by the business. For example, lets say your partner or partners are taking the profits the business is making and gambling with it. Your partners blow away all the profits on poker games and skip town what then, thats right you are still liable for any debt accumulated by the business. Another obvious con is your business partners will want to share the rofits made by the business. You cant assume when the business makes profit everyone will agree on saving it. Your partner or partners may want to buy cars, houses, or maybe boats. You dont have total control of the business. Business decisions are made Jointly not on your own. You may run into disagreements that in turn create the other partner to leave the business, or even lead to buying out the other partner. Pros and cons are a great way to see if youre the, partner type, if so make sure you pick the right partner or partners for your business. There are many ther factors in owning and running a business. For example, in order to get your business off the ground you have to find the money to do so. Debt financing is one way you can start up your business. Debt financing is simply going to a bank that knows you have good credit, a good standing history with them, and apply for a small business loan. In the current economy most banks can be very hesitant to offer you the loan so another way is equity. Selling a share of your business meaning you arent solely in charge or will now be sharing the profits may be scary, but it can help you start up your business. After starting up your business you now have to manage the business or appoint someone for the Job. Managing the accounting is a great way to stay on top of product cost, and budgeting. Managerial accounting is detailed data used for inside members of a company. Managerial accounting includes things like cost of the product, cost of shipping, cost of employee benefits, cost of turnover, basically every number available to you and your partners. You can determine if you have the budget to raise wages for your employees to boost employee morale. Each business owner can use the data to do their Job better. You can go to your losses data and determine if your employees are stealing from you. Then determine how much more security you will need in order to prevent product loss. If you or your manager for your business needs to determine if their product was set at the right price they could view the sales data to see if the supply met the demand. If you see that one of your items hasnt been selling very well you can set it at a lower price or you can Just order less of such product. If you see you sold a lot of a particular product you can raise the price as you see fit. You now know if you are the partner ype, you know a couple ways to possibly fund your business, and you know how to manage your data and budget. How are you going to get costumers through your door or buying your product? How will you market yourself? Lets use my dream business as an example. I would like to open up a caf © lounge that serves fair trade coffee, craft beer, and fine wines. In order for me to make any kind of better profit for my business I have to market my business. You have to give the people what they want in my case I would produce amazing cups of coffee. My business would offer a coffee with better taste, and appeal. My coffee would be made with love and not thrown at you in the pickup line simultaneously saying, NEXT. My caf © lounge would major downtown street. Location is important for my caf © lounge so doing a little research of the area by visiting throughout all times of the day to see the amount of traffic the area receives is crucial. Then maybe you can ask around the nearby stores to see if customers purchase a lot of coffee. You can even go to the nearest coffee shop and see what coffee and vibe they offer and simply ask the locals what kind of coffee they like or would like to drink in what kind of atmosphere. After finding your target market, a great location, building your business, affordable product pricing, and setting your hours of operation it is time to promote your business. You can put ads in the local newspaper, ads in local magazines, and maybe even do a commercial broadcast in the tri county area. You will have to set your product apart from all the other competitors. For me coffee is all about personality, process, and taste. In order to retain customers your employees have to be personable, professional, and building customer relationships. Then theres process, customers will see you make heir drink every step of the way making it an enjoyable experience. Lastly is taste, my employees being highly trained baristas will make you a drink to your satisfaction in a timely fashion all the while maintaining a welcoming atmosphere for my caf © lounge. Having the best tasting coffee and vibe may do Justice but for long term business it may not be enough this is when you bring in the events. Doing special events with your business such as charities, open mic nights, acoustic Jam sessions, and book clubs is a great way to attract more customers and maintain current ones. Internet is your best friend. Creating a website for your business is an amazing marketing play. It allows your customers to have 2417 access to information, and product choices. You can post updates on new product arrivals, special events, and specific information for each product you offer. The best part about having a website is they can look you up anywhere in the world that offers internet. Another great marketing strategy is purchasing ad space on other websites like a grocery franchise or sports sites. Green marketing is another great way to market your business. Customers love knowing your business is eco friendly by recycling, or using recycled aterial. By simply pushing customers to buy coffee to drink in house rather than take away conserves paper cups in turn less garbage. If customers choose to take to go anyways inform the customers all your paper products are recycled and recyclable. Offering organic treats to eat along with their coffee can promote a green business as well. In the end knowing everything there is to build, manage, and market your business your goal is to have long term profitability. You want to exceed customer satisfaction, you want to blow away the competition, and be prepared for even harder competition in the future. Assignment 1 free essay sample Can sit unsupported on floor for a period of 10-15 minutes. Is able to lean forward to pick up an object while maintaining balance. Can rotate body to look sideways and reach out to grasp a suspended object or to pick up a toy from the floor. Demonstrates energetic movements of entire body while in cot, pram or bath. Is able to advance across the floor by using rolling or squirming movements. Makes attempts to crawl and is occasionally successful. Has the ability to strand by using surrounding objects as support to achieve an upright position. But is unable to lower themselves back to the floor in a controlled fashion. When supported in a standing position, can take steps using alternative feet. Demonstrates a visual awareness of people, objects and events which occur in the environment. When offered an object, they will reach out to grab it. Handles objects eagerly and inquisitively, using hands to manipulate them for examination. We will write a custom essay sample on Assignment 1 or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Pokes at small objects with index finger and uses same finger to point at objects which are out of reach. Can pick up small objects between finger and thumb in a crude ‘pincer’ hold. Can release a held object by dropping it, but is unable to set it down in a controlled manner. Correctly follows the direction of fallen objects, including those falling out of sight. Observes actions of adjacent adults, children and animals with interest for period of a few minutes. Become steady on their feet and display more controlled movements. Can carry an object such as a toy whilst walking. Can climb onto a large chair and turn to sit on it. Kneel without any support and squat to pick up an object. Begin to run steadily but cannot avoid objects. Begin to walk upstairs using a railing, putting two feet on each step. Point to objects that they recognise. Build a small tower using 3-4 blocks. Hold their own spoon when feeding themselves. Hold a pencil with their whole hand or between the thumb and the first two fingers, known as primitive tripod grasp. Can thread large beads onto lace. walks or run by self up and down steps. can stand ,walk and hop. Skilfully climbs trees. Rides a trike expertly . Able to cross arms and legs. Able to throw, catch, Bounce and kick a ball. Dance to music Able to walk on a fine line Able to stand alone on 1 foot for about 1o seconds Can stretch touch toes without moving knees. Can grip strongly with both hands. Able to hop a short distance using both feet. Jump from objects with confidence Able to run and jump avoiding objects Hop with good balance and using both feet and kick a football Able to throw and catch with accuracy Use a two wheeled bicycle with or without stabilisers Skip alternating feet Build towers with blocks high and straight Hold a pencil, write numbers or letters, write their own name May start writing simple stories Walk along bean using arms for balance Use apparatus with skill Increased stamina Use colours naturalistic (green for grass/blue for sky Draw people with features Use a large needle to sew Can ride a 2 wheeled bike quite easily Can skip, hop and run quite confidently Begin to change in appearance and experience puberty Have more control in writing Become more detailed in drawing Growth accelerates Puberty Boys voice changes Girls breast grow Appetites increase Skin may become more oily, causing problems such as acne. Emotional, Social, Behavioural and Moral Newborn– 6 months 9 months –15mts 18 Months – 3 Years 4 – 5 Years 6 – 7 Years 8 – 12 Years 13 to 19 Years New born till 1 month:- Cuddling Shows pleasure at feeding 1-3 months:- Smiles at familiar adult Forces on adult face when being feed Starting to show emotions Take pleasure in sucking Looks in direction when someone is speaking 3-6 months:- Gets pleasure from familiar routine e. g. bedtime bath time Forces on parent/carer giver when feeding Shows enjoyment when cradled Smiles at everyone in their surrounding Stay awake for pro-longed periods At this age 70% sleep through the night 6-9months:- Copies other people emotions Starts finger foods Becomes upset when parent/carer leaves room Becomes shy around strangers Begin to share toys 9-12months:- Likes to chew/suck on objects Drinks from cup with a lid Takes pleasure in making noise with toys Gets pleasure from pointing at what they want Enjoys solitary play Likes familiar adult to be close by ( make strange) Gets pleasure from music and rhyme Know what they want when feeding and at bed time May want a comforter when unsettled