...The marketing environment surrounds and impacts upon the organization. There are three key elements to the marketing environment which are the internal environment, the microenvironment and the macroenvironment. Marketers build both internal and external relationships. Marketers aim to deliver value to satisfied customers, so we need to assess and evaluate our internal business/corporate environment and our external environment which is subdivided into micro and macro.Every manager in an organization observes the outside environment with disciplined methods—marketing research and marketing intelligence—for collecting information about the marketing environment. They also spend more time in customer and competitor environments. By carefully studying the environment, marketers can adapt their strategies to meet new marketplace challenges and opportunities. The microenvironment consists of the actors close to the company that affect its ability to serve its customers—the company, suppliers, marketing intermediaries, customer markets, competitors, and publics. The macroenvironment consists of the larger societal forces that affect the microenvironment—demographic, economic, natural, technological, political, and cultural forces. Marketing research uncovers opportunities for marketers to get their messages across in the extreme changing promotional environment. Over time, the marketing mix must be altered because of changes in the environment in which consumers and businesses exist...
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...required to write a piece of advice to a group of Level Three business students on the usefulness of innovation management and new product development in an essay format. The topic of the essay is “what skills should a business graduate acquire about innovation management in order to advance their career development and employability”. "We live in a society where technology is a very important force in business, in our daily lives. And all technology starts as a spark in someone's brain. An idea of something that didn't exist before, that once they have invented it —brought it into existence — could change everything. And that activity is generally one that's not very well supported." - Nathan Myhrvold, CEO, Intellectual Ventures From a 2010 interview with Harvard Business Review Introduction In the development of new businesses today, initiatives that spur knowledge-based competitions amplify the importance of boundary spanning activities and tactical coalitions, which cause organizations to focus more on institutional knowledge, system improvement and knowledge management (Quah, 2001). This essay will help the level 3 business school students to understand the required skills about innovation management to to advance their career development and employability. An innovation is something that is new. You are required to write a piece of advice to a group of Level Three business students on the usefulness of innovation management and new...
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...Sole proprietorship: If I were to open a business on my own I would be the sole one responsible for all the cost and the reliability of the business. No one else would have the responsibility of the business other than myself, this is something that I want to do in the near future and that is what I am going to school for business for. Partnership: If a person or group of people wanted to go in on a business with me than we would be partners in the business. We would pool together and establish a company together and it would be ran as a group or team. This is also something that my friend and I have looked into as our town needs more businesses and we would like to have something that we can run and make money and be our own boss. Limited Liability: Limited Liability: Having signing the papers if something were to happen to the business that I have opened and it was not making any money than they could not come after me for money in the end. People sign these papers to make sure that they have themselves covered just in case something does happen and the business is not making a profit. Joint stock company: I open by business that I have been wanting to in a long time but want to get a start I would ask people to invest in my company with a percentage of the profits that were being made. This is something that I would not do as it is a huge risk not knowing how well the company will end up and you may end up owing more in the...
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...Health services it is something that is pretty much a health service provider something that was started up by two people that who built most of their life into the home health care profession which was at a medical center in Georgetown. The both of them were able to see the perfect time to be able to start something new, something that would help change the health care industry and to be able to take that and start a new business. Even though they really didn’t go through the steps they were supposed to take in order to get to where they need to be and the amount of resources they had was very small so pretty much within that time period given a year or so there business has grown so much that it was more than what they expected it to be. Being able to acceptance something like this especially during this market was something they were focused on doing and wanted to make sure this actually followed through and all of their hard work pretty much paid off in the end. They understood that the main thing was the customer’s needs and to be able to show that they cared as well as be able to address very competitive personnel as well so that they can be able to develop and pursue the policies that would have to be addressed in all different sides of this business in the home health care serves that would pretty much be set up as giving the needs to the customers and patients versus other companies who do not look at it in that way and just look it at as something just plain. ...
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...their business models. 2. If you see something that is promising and you find someone with enough mone to finance it, it is possible to see rapid growth 3. Stadiums are one of the largest expenses for teams and the IPL has elected to pla at existing stadiums thus saving huge costs financially 4. Found stability in fincnace with a steady revenue stream What we can learn 1. We should look at teams and leagues that have been successful and analyze why, and look to emulate their business models. 2. If you see something that is promising and you find someone with enough mone to finance it, it is possible to see rapid growth 3. Stadiums are one of the largest expenses for teams and the IPL has elected to pla at existing stadiums thus saving huge costs financially 4. Found stability in fincnace with a steady revenue stream What we can learn 1. We should look at teams and leagues that have been successful and analyze why, and look to emulate their business models. 2. If you see something that is promising and you find someone with enough mone to finance it, it is possible to see rapid growth 3. Stadiums are one of the largest expenses for teams and the IPL has elected to pla at existing stadiums thus saving huge costs financially 4. Found stability in fincnace with a steady revenue stream What we can learn 1. We should look at teams and leagues that have been successful and analyze why, and look to emulate their business models. 2. If you see something that is...
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...Expanding Abroad: Is it Worth the Effort Owning and operating a business is not something that comes easily to most people, after all many businesses struggle to keep afloat in their own country forget about opening a business overseas. Running a business can be a challenge especially trying to do it from a different country. There are many things that you need to take into consideration such as language barriers, currency exchange and customs to name a few. Many entrepreneurs look to the international market because they have lower startup costs and there is less business around to compete for startup costs. This by no means makes starting a business overseas easy however; there are definitely tricks to the trade. As with anything there are challenges, setting up an international business takes a lot of time and could potentially take longer than a business started in your own country. Dealing with the international laws and tax regulations is a job in itself. A lot of thought needs to be put into starting the business as there are far more things to think about such as transportation, utilities, internet speed and economic stability. Not many people would think about it but traffic and transportation are huge things to consider. Traveling three miles to the office in the United States which takes ten minutes could take easily three hours while in another country. Opening a business in unfamiliar territory certainly opens up a myriad of roads to be traveled and the possibilities...
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...If you want to succeed in life do something you love, for a lot of people that is opening shops, restaurants, bars and all the other stores in the world. But for the store to be successful it needs a business plan and a good one of that. Business plans include the name of the product or service, a description of its features, products and/or services, a mission statement and objectives of the business, market and competitors, location, internal layout and design and the marketing strategies. It takes up a lot of time and effort to make a successful business plan but in the end it is worth it. Before you even think about opening a business you have to go through these simple procedures and write up a business plan. If you open with all these things your business is bound to be a success. Every business needs a name, imagine a business with out a name it would be nothing and you would definitely not remember it or be able to think or tell people about it because is has no name. The name of your business is the most important part of the business plan; with out it you’re nothing. You want the name of your business to be catchy and something that everyone will remember while also having some sort of connection with what your business is. For example we have called our business Scrumptious, it is very catchy and rolls of the tongue, personally I love the word scrumptious and that is one of the reasons why I choose it. So you also need to think about if you like the name you have...
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...Definition of business ethics – business ethics play a big role today as ethics means what right and wrong. Not only do businesses today need to follow the law but they need to do something beyond following the law businesses should do extra in any way that they can. This helps businesses get good reputation and also their customers trust. All businesses should have their own ethical values and therefore these values should be applied to everything, for example anything from achieving their objectives to treating their employees’ right. Ethical activities – this involves businesses concentrating on making a contribution towards the community and having a positive impact. For example businesses such as the Co-operative contribute toward the communities that produce their products; the importance of ethics becomes as important as the profit. Values of businesses – this involves where the values come from the values can be impacted by the culture, religion, parents, etc. Even though personal values don’t have a price they are still worth a lot to the business as good personal values help to gain and keep customers. Professional ethics – this involves how a person behaves towards their chosen career. Within different careers people are expected to behave in a certain way. If a person behaves in the right way within their profession it will keep the standards high and it also helps not to bringing their profession into disrepute. Individual ethical behaviour – once a business has grown...
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... GAAP- Generally accepted accounting principles- refer to the standard framework of guidelines for financial accounting used in any giving jurisdiction. 2. generally known as accounting standards or standard accounting practice. (Wikipedia) Basic - forming or relating to the most important part of something. 2. forming or relating to the first or easiest part of something not including anything extra (Merriam-Webster.com/dictionary) accounting - the skill, system, or job of keeping the financial records of a business or person (Merriam-Webster.com/dictionary) formula - a plan or method for doing, making, or achieving something. 2. a list of the ingredients used for making something 3. mathematics: a general fact or rule expressed in letters and symbols (Merriam-Webste.com/dictionary) Transaction - The act of transaction or the fact of being transacted. 2. Something transacted, especially a business agreement or exchange. 3. Communication involving two or more people that affects all those involved. (www.thefreedictionary.com) account - A narrative or record of events. 2. a reason given for a particular action or event. 3. a formal banking, brokerage, or business relationship established to provide dealings, and other financial transactions. 4. Worth, standing, or importance. 5. profit or advantage. (www.thefreedictionary.com) General - involving, applicable to, or affecting the whole. 2. not confined by specialization or careful limitation. 3.involving, relating...
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...phones in our lives for both personal and business use. Since the late 90’s cell phones have grown at a tremendous pace. Today there are very few people in the country that do not have one. Personal use of needing a cell phone has increased. Today we need to always have access to our phone for text messages, email or the old but common actual phone call. Before cell phones if you wanted to know where someone was you had to call a land line phone at their house or actually go to where they lived or worked, and this would take a lot of time out of your day either waiting or actually trying to track someone down. If you only needed to tell your spouse something simple like “pick up some milk.” Today people can just send a text message with that information and it is something you receive instantly. This has increased our connection with each other for personal use since we can talk or communicate with someone when and where we want. Cell phones in the business world have evolved even greater than personal use possibly over the same time period. When someone used to work before phones they could only receive calls or email while they were in the office. That could be a good thing, but if something needed to be done urgently or information needed to be passed on then having to wait could cost the business lots of money. I don’t know what the percentage is nationally for business use of cell phones, but in our company every employee gets a business cell phone. This allows us to receive...
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...Career in Business Systems Development Donald Kirchner BSA/375 June 29th, 2015 Lise Hautzinger-Forrest Career in Business Systems Development According to "What Is Business System Development? - A Beginners Guide" (2015), “Business system development is the process of adding or improving systems to make your business more efficient.” Business Systems Development as a job can be very diverse and interesting. In the world of technology there is always something new and that means there will always be a place for Business Systems Development as a job. There will always be systems to replace or improve and businesses will need people to manage and help guide these systems. There are a few organizations available for Business Systems Development Professionals. One of the organizations available to Business Systems Development Professionals is the International Institute of Business Analysis. The IIBA is an impendent non-profit professional association for professionals in the Business Systems Development field. Their website, iiba.org, has many resources for professional in Business Systems Development. Their website has resources for training and certifications as well as advice and resources for a career in Business Systems Development. They also have a guide called the BABOK Guide that contains a wealth of information and best practices for professionals in the Business Systems Development field. Another resource for Business Systems Development professionals...
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...a story about an entrepreneurial woman named Laura Ryan and her family’s effort at making a profitable business venture out of her home-made Indian fry bread. This essay will identify advantages and possible challenges of developing a specialty food business. It will consider whether or not Lakota Hill’s strategy is the best way to build a specialty food business. It will also examine other channels that could be integrated into the overall selling model and describe how Lakota Hills will make money. Lastly, this essay will consider whether Lakota Hills would be a business worth investing. There are many advantages of developing a specialty food business and they begin with the advantages of developing one’s own business, such as: being your own boss, creating your own work environment, doing something in which you believe, reaping the benefits of hard work and long hours directly, variety, challenges, and opportunities for creativity, full use of knowledge, empowerment, and hopefully, the satisfaction of a successful venture. As said before, these advantages are similar across any startup business. Specifically, running a specialty food business has the main advantage of being unique. The creator of this business has the potential advantage of paving the way for this type of food and there is a lot of money that can be made if another larger and more established business wants to buy the concept or if the food item itself becomes hugely successful. There are also many disadvantages...
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...1. Melissa is doing a catering business and she is also the owner of the business. The catering business offers fresh food therefore her customers are pleased with her products. 2. a. A need is something that is necessary for organisms to live a healthy life and a want is a want is something that is desired. Thus, people cannot have everything they want and must look for the most affordable alternatives. Therefore Melissa’s products satisfy both need and want because she is providing food which is a great need to people who going to work every morning do not have time to do breakfast also applies to people who always pass by the shop like people in the community. b. The target market for Melissa is the people in the community where the business is situated and those people passing by when going to their respective work places. Melissa also helps conscious people because they need preservatives. Therefore I agree that it is the same target market as the business times article because they both satisfy communities needs updating them about new things everyday as a result Melissa and the business Times they both get profit .People buy business articles and then they go read them in Melissa’s food shop while enjoying nice meals. 3. Melissa do not have competition in that community and she is selling fresh food as a result most people are satisfied with her products. 4. Firstly tangible product is something which a company produces which the customer can see...
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...evaluate and judge the world, but to change it," (Boa, 2004). Having a Christian worldview is hard enough in American but add in the entire world and it can be a little trickier. Thinking Christianly has a major impact on how someone would do business overseas, in a global economy. When it comes to a Christian worldview in a global economy there are numerous issues that can come up. Different countries and cultures have different things that they deem acceptable; however, when you are looking at it from a Christian standpoint you may have to handle things in a different manner. Just because something is acceptable or legal in the world does not make it acceptable to someone with a Christian worldview. John 17:17 says that, "The word is truth," so when one is looking for direction and guidance in any aspect of business he will always know that the word of God is truth that he can turn to. Although the field of business has many negative connotations with Christianity there are also positive ones. There are two main issues that this paper will address. The first issue, pollution, can be view negatively. The second issue, job opportunities, can be view positively. The first issue, Environmental issues play a key role in why some companies do business overseas. A lot of American based companies like to establish their productions in Mexico because of the lower environmental rules. Many third world countries do not have limitations like America on pollutions and things of that nature....
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...Business Preparation for Communication Diversity XXXXXXXXXXXXXX CMC 260 February 10, 2013 XXXXXXXXXXXXXXX Business Preparation for Communication Diversity When it comes to conducting business with other countries and cultures it is important to research and gain knowledge and information that will allow you to understand the changes you may have to make in order to assure that it is one that is not only successful but positive as well. No matter which country our culture it may be it is important to understand several different areas and make sure to ask yourself the correct questions. Those areas are to understand universal systems, cultural values, language and thought, social etiquette, business customs, negotiation strategies, and culture shock. Please feel free to use this as a guideline when beginning your research to help get a quick and easy start, ensuring that the business outcome will be successful. Universal Systems: It is important to understand how each culture works when it comes to economic, political, and educational, marriage and family, and social hierarchies and interaction systems. Each country will differ from the other so it is very important to make sure you have a full understanding of the importance and the way these things are seen in the country you will be conducting business in. Here are a few questions you think about while doing your research. What type of economic system do they fall under? What is the determining...
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