Free Essay


In: Business and Management

Submitted By karlaesq07
Words 3080
Pages 13
Pet ownership and its benefits

Research question:
Are there any benefits to owning a pet?

Thesis Statement
Research suggests that owning a pet is beneficial because it helps alleviate depression, reduces anxiety, reduces stress and promotes interpersonal interaction with others.


Reference #1
Moore, A. (2002). Get a Pet-Doctor's Orders This article explains why some doctors are now starting to recommend pet prescriptions to some patients who live alone. It explains how a pet can have a positive effect on your emotional and physical health when dealing with health issues such as cancer and high blood pressure.

There was a study conducted by the University of California’s Center for Animal Alternatives. The study showed that pet ownership was especially beneficial to elderly individuals as they are susceptible to depression and feelings of loneliness. The study showed that pets were able to provide feelings of comfort which helped with the feelings of loneliness and depression.

Dr. Becker traveled across the country and conducted 350 interviews with scientists, physicians and experts to find how an animal has the ability to detect and treat some diseases and conditions. The people interviewed were experts from the National Institute of Health and Harvard University’s School of Medicine and the Mayo Clinic. .

The study done by Dr. Becker found that half a group of stockbrokers on high blood pressure medication did not need any more meds after 2 months of adopting a pet. The study also found that elderly people that owned dogs took them out for walks and they felt healthier.

Dr. Creagan, MD, an oncologist, is now recommending pet prescriptions to some patients who live alone and are in need of companionship. “I am very hopeful that this is the beginning of something big, a multidisciplinary approach to healing that includes the family pet” says Dr. Creagan. (As cited in “Get a Pet- Doctor’s Orders”, 2002)

This article supports my thesis for QBT1.

Dr. Edward T. Creagan is a credible source. He is board certified in internal medicine, hospice medicine, medical oncology and palliative care. Dr. Creagan is also a professor of medical Oncology at Mayo Clinic College of Medicine. He was awarded the highest recognition at the Mayo clinic which is the John and Roma Rouse Professor of Humanism in Medicine Award.

Reference #2
Butler, C. (2010). MAKE HEALTH A PET PROJECT. American Fitness, 28(2), 60-61.

This article is about the health benefits to owning a pet. Owning a dog or cat can be beneficial to an individual’s health and emotional well-being. A dog is a great companion that can be very helpful in going out to exercise.

According to Robert Kushner, a professor at the Northwestern University Feinberg School of Medicine, dogs can be even more motivation than a human exercise partner. “A companion dog adds beneficial supportive factors that an exercise friend does not, parental pride, enjoyment, a consistent initiator he said.
(As cited in “Make Health a Pet Project”, 2010)

For decades, Erika Friedmann, has been studying how pets are beneficial to the human health. Erika Friedmann is a professor at the University of Maryland, School of Nursing. She states that pets help decrease the levels of stress, anxiety, loneliness and depression for some people. Pets also provide company and promote meeting other people.

There are many psychological benefits that the unconditional love and acceptance that pets provide to people. This helps depressed people feel better. This article supports my thesis and main points.

Erika Friedmann, PhD is a credible author in the article. These are some of the most recent publications she has been involved in the following articles and or books:

 Friedmann, E., Thomas, S.A., Son, H., Chapa, D.W., McCune, S. Pet's presence and owner's blood pressures during the daily lives of pet owners with pre-to mild hypertension. Anthrozoös (In Press).
 Friedmann, E., Son, H., Chapa, D., Lee, H-J., Thomas, S.A., Poor social support is associated with increases in depression but not anxiety over 2 years in heart failure outpatients. Journal of Cardiovascular Nursing. In Press.
 Son, H., Thomas, S.A., Friedmann, E. The association between psychological distress and coping patterns in post MI patients and their partners. Journal of Clinical Nursing. 21(15-16) 2392-239, 2012.
 Woltz, P.C., Chapa, D.W., Friedmann, E., Son, H., Akintade, B., Thomas, S.A. Effects of interventions on depression in heart failure: A systematic review. Heart & Lung, 41(5), 469-483 2012.
 Ross, A., Bevans, M., Friedmann, E., Thomas, S.A. National survey of yoga practitioners: Mental and physical health benefits. Journal of Alternative and Complementary Medicine, 2012 ID JACM-2012-626.
 Son, H., Friedmann, E., Thomas, S.A. Application of pattern mixture models to address missing data in longitudinal data analysis using SPSS. Nursing Research. 61:195-203, 2012.
 Saylor, J. Friedmann, E., Lee, H-J. Navigating complex samples analysis using national survey data. Nursing Research, 61:231-237, 2012.
 Gilden, R, Friedmann, E., Satler, B., Squibb, K.; McPhaul, K. Potential health effects related to pesticide use on athletic fields. Public Health Nursing, 29: 198-207, 2012.
 Adelman, R.D., Greene, M.G., Friedmann, E., Ory, M.G., and Snow, C.E. Older patients – physician discussions about exercise. Journal of Aging and Physical Activity, 19:225-238, 2011.
 Friedmann, E., Thomas, S.A., Son, H. for the HAT Investigators. Pets, depression and long term survival in community living patients following myocardial infarction . Anthrozoos, 24: 273-285, 2011.
 Freedenberg, V., Thomas, S.A., and Friedmann, E. Anxiety and depression in ICD recipients and heart failure: A review. Heart Failure Clinics of North America, 7: 59-68, 2011.

Reference #3
Johnson, T. (2011). Pets can be a prescription for happier, healthier life. Nation's Health, 40(10), 32. Article discusses the health and emotional benefits owning a pet can do for your health. Studies show that a dog and cat can help reduce stress levels, lower your blood pleasure, alleviate depression and reduce a person’s feelings of feeling lonely.

Studies also show that when owning a dog, a person walks in a more regular basis then a person not owning a dog. Not only are you getting exercise to help your health but walking a dog can help you interact with others easily. When you are walking a dog, people are more likely to strike up a conversation with you. A person becomes more approachable. Research has shown that the neighborhoods where people are seeing walking their dogs are often viewed as friendly and safe neighborhoods.

“There are lots of studies showing that pets are good for our health,” says Rebecca Johnson, PhD, RN, director of the Research Center for Human-Animal Interaction at the University Of Missouri College Of Veterinary Medicine. (As cited on “Pets Can Be a Prescription for Happier, Healthier life”, 2011)

My thesis for QBT1 is about how owning a pet can alleviate depression and can help with interaction with other people. This article supports my thesis and main points.

Teddi Dineley Johnson is a credible source. He has written many online publications including an article featured in the current issue of The Nation’s Health, a print and online publication of the American Public Health Association.

Reference #4
Allan Schwartz, LCSW, Ph.D. (2010) Depression, Anxiety and Pets This article discusses some of the value and benefits of owning a pet such as helping with depression and anxiety. It mainly focuses on owning a dog to help with Depression and anxiety. It will force a person to leave the house because dogs need to be walked a few times a day. Once out, walking the dog will facilitate in engaging in conversation as people often want to pet a dog and ask questions about it.
Anxiety is associated with being around too many people. Having the companionship of a dog while taking a walk contributes to giving a person the confidence to go out into the world.
People that are depressed often isolate themselves from the world but owning a dog forces a person to go out for a walk which they wouldn’t do if not owned a dog.

“A pet can be a great stress reduces, How can you hold onto stress when you and your family are having fun with your pet?” says Allan N Schwartz, PhD. (As cited on “Depression, Anxiety and Pets” 2010)

The material in this article is valuable and it’s a great source of background information from Allan N. Schwartz, PhD. It supports my thesis statement. Allan N. Schwartz, LCSW, Ph.D has been in private practice for over than 30 years. He is a Licensed Clinical Social Worker in the states of Colorado and New York.

Reference #5
Dana Casciotti, PhD (2011) Pets and Health: The Impact of Companion Animals This article discusses the benefits of owning a pet. Such benefits include lowering blood pressure, reduce stress and alleviate depression.
Some findings suggest that a pet can provide a person to feel relaxed and decreases stress. People can also get social support from family and friends and have some of the same benefits; however some interpersonal relationships can cause stress.

Walking a dog has been found to increase social interaction. It increases social interaction when walking a dog compared to walking alone.

About 71 million American’s own a pet that lives in their household. People consider these pets members of their family.
“Some research studies have found that people who have a pet have a healthier heart, stay home sick less often, make fewer visits to the doctor, get more exercise and are less depressed.” Says Dana Casciotti, PhD (As cited on “Pets and Health: The Impact of Companion Animals”, 2011)

This information is supports my thesis statement as it discusses the benefits of owning a pet, primarily a dog. The information supports my thesis and supports my main points.

Dana Casciotti, PhD is a credible source as she is involved in writing for the National Research Center for Women and Families. She is also part of the public health research director of the Cancer Prevention and Treatment Fund.

Reference #6
Erin Dostal (2012) 7 Reasons You Need A Pet This article discusses 7 reasons why you need a pet in your life. Reason number 2 in this article explains that having a pet can help foster a person’s interpersonal skills.

“Being outside with a dog helps you meet people,” says Alan Entin, a psychologist and past president of the American Psychological Association’s Division of Family Psychology. This helps meet other dog owners and that helps improve your social life. (As cited in “7 Reasons You Need A Pet”. 2012)

Reason number 5 in the articles discusses how pets can provide companionship. People who live alone often can feel lonely according to a study from Miami University and Saint Louis University

“People with pets probably feel less lonely because the pet provides a sense of social support,” said Allen R. McConnel, a professor at Miami University and an author of the study. (As cited on “7 Reasons You Need A Pet”, 2012)

This article supports two of my main points and it supports my thesis statement.

Allen R. McConnel is a credible source. He is a professor at Miami University. He is the editor in chief of Social Psychological and Personality Science. He is the associate editor at Journal of Personality and Social Psychology and Journal of Experimental Social Psychology. Allen R. McConnel also is part of the National Science Foundation social psychology grant panel. He also organizes conferences for the SPSP Social Cognition Preconference. He has been recognized as the Professor of the Year in Psychology.

Research #7
Elizabeth Scott, M.S (2012) How owning a Dog or Cat Can Reduce Stress This article discusses ways a pet can be beneficial to your health and how a cat or a dog can help alleviate stress, encourage social interaction and can help alleviate loneliness.

Research shows that when you spend time with a pet, it can help stress levels. Resent research also showed that people with a pet experienced less stress when conducting a task that is stressful. The research showed that it helped with stress better than when conducting the task with a supportive friend or when a spouse was present.

Pets are able to be offer love and companionship that can be the beneficial to help with loneliness. Research shows that some residents in nursing homes reported loneliness was lessened when they were visited by a dog. They felt less lonely then when they were around other people.

Pets can help with social support because people walking a dog can become more approachable and gives other people a reason to stop and talk to the person walking the dog. This gives people opportunities to increase their network of friends which can also have an effect in stress.
It’s important to realize that owning a pet isn’t for everyone.

“Pets do come with additional work and responsibility, which can bring its own stress. However, for most people, the benefits of having a pet outweigh the drawbacks. Having a furry best friend can reduce stress in your life and bring you support when times get tough” said Elizabeth Scott. ( As cited on “How Owning a Dog or Cat Can Reduce Stress”. 2012)

This article supports 3 of my main points and also supports my thesis statement.

Elizabeth Anne Scott is a credible source. She holds a B.A. in psychology, an M.S. in counseling with a specialization in family therapy. She is a wellness coach, author and health educator. She is also an award winning blogger.

Resource #8
Donna Jackel, The Power of Pets The Centers for Disease Control and Prevention says that having a companion pets in a household can be very beneficial to people who live alone and suffer from depression.

“All people report feeling less lonely in the presence of animals—even birds,” says Alan Beck, director of the Center for the Human-Animal Bond at Purdue University in West Lafayette, Indiana. “Animals are good for everyone, but particularly for anxious and depressed people. ( As cited in “The Power of Pets”)

Jennifer P. Wisdom, PhD, an associate professor of clinical psychology at Columbia University Medical Center and a research scientist at the New York State Psychiatric Institute conducted a survey. Jennifer P. Wisdom, PhD and her colleagues had the survey that included 177 individuals that had mental health.
The research concluded that animal companions help boost their self-esteem and it helped initiate social encounters.

Having a dog can help people that tend to self-isolate or have social anxiety. Having the dog can help start conversation with other people. There was a study conducted in 2000 by researchers at the University of Warwick in Coventry, England. The study showed that 65 strangers stopped to speak with a person walking a dog. When the same people walked without a dog, the people that stopped to talk to the people without the dog decreased to 3 people. The article is a credible source for my thesis statement and it supports 2 of my main points.

Jennifer Wisdom, PhD is a credible author in the article. She is an associate Professor of Clinical Psychology. She is a research Scientist at the New York State Psychiatric Institute.

Resource #9
Lawrence Robinson, Jeanne Segal, Ph.D. (2013) The Therapeutic Benefits of Pets Adopting a pet can help to make lifestyle changes. Changes that are healthy and can help with symptoms of depression, stress and anxiety. When people take care of a pet, it can help meeting new people. Pets are a great social lubricant. People who own dogs often stop and talk to each other when they are walking their dogs. Owning a pet can help with loneliness. Taking care of an animal can help by making the individual feel needed and wanted. It can take the focus away from problems.

Owning a pet and having their company can give a person comfort which can help decrease anxiety. This helps people build self-confidence for those individuals that suffer from anxiety when going out into the world.

Owning a pet can help relieve stress in individuals. Touch and physical activity is a healthy way to manage stress. Petting a cat or taking a dog for a walk can help manage stress.

This article supports my thesis statement and supports 3 of my main points.

Jeanne Segal, Ph.D. is a credible author in the article. She is psychotherapist that has been helping families for nearly 40 years. She has published books in 13 languages She has served in many nationals nonprofit boards.

Melissa Breyer, (2011) 6 Health Benefits of Having Pets Owning a pet can help people heal emotional, physically and mentally. There are many obvious benefits such as companionship and unconditional love; however, pets are beneficial and have positive effect to our health.

There are many benefits of owning a pet. One of the 6 health benefits of having a pet is reducing stress. Mindlab International conducted a survey. Mindlab’s survey found that 55 percent of individuals felt very relaxed after spending time with their animals. About 44 percent of people in the same research felt less worried about problems after spending time with their pet. The problems included such issues as security in job or finances.

Dr. David Lewis, a psychologist at Minlab said that “Interacting with a dog is a profound and an effective stress reduces. It increases feeling of contentment and relaxation.” (As cited in “6 health Benefits of Having Pets”. 2011)

The article has credible information that supports my thesis statement and one of my main points.

Dr. David Lewis-Hodgson is the Chairman & Director of Research at Mindlab International. He is a best-selling author whom has written more than 30 books. A few books related to stress management.

Similar Documents

Premium Essay

Business to Business

...Social Networks and Media Conquer B2B Social Networks are a flourishing phenomenon in today’s generation. It has already entered and affected the B2C network. In B2C network the social networks have become a concerning factor and plays a major role in marketing and communications. As we are all familiar with the B2B network and what does it actually implies, the question arises whether the social networks can play an important role in B2B network and for B2B companies. Social networks are not another passing phenomenon; they have matured and have registered themselves highly in the minds of the customers. B2B network also gets conquered by the social networks the business houses that trade with each other are actually the customers of each other and they also engage themselves in social networking. Some useful statistics from the social networking world states that the total time spent on social media has increased from 6% in 2007 to 20% in 2011. The registered users will almost reach 2 billion people by 2014. These figures show relentless growth and usage of social media. Already 91% of the B2B companies are active on Facebook, 53% on Twitter and 47% on LinkedIn. These statistics reveal that social media has conquered B2B network and has entered in that chain as means of effective communication and presentation. B2B companies deal with people and not robots. So the influence of emotions before purchasing a product is applicable to them also as they are not immune to......

Words: 798 - Pages: 4

Premium Essay


...- BTEC FIRST DIPLOMA BUSINESS - Unit 16: Business Enterprise Assignment [pic] [pic] • The due date for the whole assignment is Friday 25th May 2012 • You will have time allocated to complete the MERIT and DISTINCTION criteria only when the PASS criteria is completed • You will be able to gather evidence for Level 2 Key Skills in Communication, Application of Number and Information Technology from completing the assignment You will also be able to gather evidence for Key Skills Level 2 Improving Own Learning and Performance (LP2.1, Lp2.2 and LP2.3) as you plan, review and complete the assignment ASSIGNMENT TASKS The scenario You and some friends have always been interested in working for yourself rather than being an employee. You now feel it is the right time to start up a new business and so you begin to consider the idea and investigate the possibilities further with your friends. There are many ideas you have but before you can start the business you have decided to investigate what things you need to know about starting up a business. You and your friends are considering asking your bank manager to provide you with the finance for starting up the business and so it is important that you know exactly what is involved. You and your friends will have to present your business idea to the bank manager so it is important that you know what you have to......

Words: 905 - Pages: 4

Free Essay

Business this issue. The latest issue can be found on the Edexcel website: References to third-party material made in this specification are made in good faith. Edexcel does not endorse, approve or accept responsibility for the content of materials, which may be subject to change, or any opinions expressed therein. (Material may include textbooks, journals, magazines and other publications and websites.) Authorised by Roger Beard Prepared by Susan Hoxley Publications Code BH029073 All the material in this publication is copyright © Edexcel Limited 2011 Edexcel BTEC Level 4 HNC Diploma in Business Edexcel BTEC Level 5 HND Diploma in Business Edexcel BTEC Level 5 HND Diploma in Business (Accounting) Edexcel BTEC Level 5 HND Diploma in Business (Management) Edexcel BTEC Level 5 HND Diploma in Business (Marketing) Edexcel BTEC Level 5 HND Diploma in Business (Human...

Words: 15079 - Pages: 61

Free Essay

Business Conduct Business Research: Part 1Preparing to Conduct Business Research: Part 1Preparing to Conduct Business Research: Part 1Preparing to Conduct Business Research: Part 1Preparing to Conduct Business Research: Part 1Preparing to Conduct Business Research: Part 1Preparing to Conduct Business Research: Part 1Preparing to Conduct Business Research: Part 1Preparing to Conduct Business Research: Part 1Preparing to Conduct Business Research: Part 1Preparing to Conduct Business Research: Part 1Preparing to Conduct Business Research: Part 1Preparing to Conduct Business Research: Part 1Preparing to Conduct Business Research: Part 1Preparing to Conduct Business Research: Part 1Preparing to Conduct Business Research: Part 1Preparing to Conduct Business Research: Part 1Preparing to Conduct Business Research: Part 1Preparing to Conduct Business Research: Part 1Preparing to Conduct Business Research: Part 1Preparing to Conduct Business Research: Part 1Preparing to Conduct Business Research: Part 1Preparing to Conduct Business Research: Part 1Preparing to Conduct Business Research: Part 1Preparing to Conduct Business Research: Part 1Preparing to Conduct Business Research: Part 1Preparing to Conduct Business Research: Part 1Preparing to Conduct Business Research: Part 1Preparing to Conduct Business Research: Part 1Preparing to Conduct Business Research: Part 1Preparing to Conduct Business Research: Part 1Preparing to Conduct Business Research: Part 1Preparing to Conduct Business......

Words: 799 - Pages: 4

Premium Essay


...Unit Title: The Business Environment Guided Learning Hours: 160 Level: Level 5 Number of Credits: 18 Learning Outcome 1 The learner will: Understand the significance of the environment on business activity. Assessment Criteria The learner can: 1.1 Explain the features of business activity. Indicative Content 1.1.1 Explain the business organisation as a transformation process. 1.1.2 Describe the different ways in which a business may structure its activities. 1.2 Discuss the complex interactions that operate between a business and its environment. 1.2.1 Discuss the complexity, volatility and uniqueness of an organisation's environment. 1.2.2 Explain the influence of shareholders on the internal environment of an organisation. 1.2.3 Outline the nature of the external environment (PEST). 1.3 Explain the need for change and its management within an individual business. 1.3.1 Discuss the need to monitor changes in the external environment. 1.3.2 Discuss the implications of environmental change for a business, its stakeholders and society. 1.3.3 Explain reasons for resistance to change by firms, managers and employees. 1.3.4 Describe ways in which resistance to change may be overcome. Learning Outcome 2 The learner will: Understand the structure and organisation of business. Assessment Criteria The learner can: 2.1 Discuss the impact of industrial and legal structure and size on organisational behaviour. Indicative Content 2.1.1 Classify......

Words: 1138 - Pages: 5

Premium Essay


...A business undertaking is an organisation which is engaged in some industrial or commercial activity. It represents an institutional arrangement for carrying on any kind of business activity. It may be owned and controlled by a single individual or by a group of individuals who have entered into a formal or informal agreement to jointly conduct the business. Every business undertaking is a separate and distinct business unit. It has its own identity and separate ownership. It can be distinguished from other undertakings on the basis of its ownership, management and control. According to Wheeler, a business undertaking is a concern, company or enterprise which buys and sells, is owned by one person or a group of persons and is managed under a specific set of operating policies". Thus, a business undertaking may be defined as an organisation operating under separate ownership, management and control and carrying on any business activity with independent risk- bearing. All business undertakings are directly or indirectly engaged in the transfer or exchange of goods and services for value. They deal in goods and services on a regular basis. Their main motive is to earn profits and they are exposed to various types of risks. Characteristics of a Business Undertaking The basic features of a business undertaking are as follows: 1. Separate identity: Every business undertaking has a separate identity. It has a distinct name and separate existence. Its assets and liabilities......

Words: 1147 - Pages: 5

Premium Essay


...Gerri Bednarcyk Ch 1 Assign - Business Now: Change is the Only Constant Respond to these questions in a Word document. You do not have to include the question, but make sure to number the response.  You need to use complete sentences and correct grammar.  Once you have answered all the questions, save it as Chapter 1 – [your name] and upload it as an attachment. Watch the lecture video:  Make sure you have read Chapter 1 and have posted in the discussion forum. 1. What factors contribute to the rapid pace of change in business? Is the pace likely to accelerate or decrease over the next decade? Why? The factors that contribute to the rapid pace of change in business are Human Resources, Capital, Natural Resources, Entrepreneurship, and Technology. The factors are more than likely to increase because all factors listed are increasing at a fast pace. I feel that factors are increasing because they are definitely in high demand at this time in our economy. 2. Explain the term "business".  A business is any organization or activity that provides goods and services in an effort to earn a profit. Businesses are leading in capitalist economies, where most of them are privately owned and ran to earn profit to increase the wealth of their owners. Businesses may also be not-for-profit or state-owned 3. Explain the role of business in the economy. The economies of the country depends upon the employment provided by big and small businesses and produces the goods and......

Words: 908 - Pages: 4

Premium Essay


...The Business Enterprise 1.) Discuss the common elements described in the theories/philosophies of Case, Kouzes, and Drucker including how their principles/strategies relate to the new definition of entrepreneurial leadership presented in Understanding Entrepreneurial Leadership in today’s Dynamic Markets. Case, Kouzes and Drucker each have good theories and philosophies on entrepreneurship and leadership. Each had different ways of stating what they thought made a good entrepreneur but for the most part focus on some of the same things and agreed that with the right balance of these characteristics then succeeding, as an entrepreneur would be possible. One of the common elements that each focused on was people. Interaction with people is important when it comes to entrepreneurship and leadership skills according to Case, Kouzes, and Drucker. Each inferred that if a person does not have people skills, then the person would not succeed as an entrepreneur or a leader. People skills would be the ability to motivate others and interact. A leader cannot lead without being able to interact with people. Starting a business requires interaction with people on some level. Another common element that they all thought were important was not being afraid to take risk. Taking a risk in order to monopolize an industry to succeed is important. The definition of entrepreneurial leadership is one of an enterprising, transformational leader who operates in a......

Words: 1383 - Pages: 6

Premium Essay


...Business communication can take many forms, written and verbal. It can be between managers and employees within a company, or between a company and its customers, partners or suppliers. The purpose of business communication also varies, but it should always benefit your business. When carried out effectively, business communication can build your company's reputation, resolve and prevent conflicts, and contribute to strong relationships between your company, its customers and the business community. Build Customer Relationships Few businesses would grow or even survive without the benefits gained through marketing communications. You can take advantage of the wide variety of media available to let the public know about your products or services. Use business communications to establish your company as an authority or thought leader in your industry. Offer a white paper or online articles that discuss common problems business owners face and present your company's solution. A weekly or monthly newsletter to your prospects or established customers will help build trust by providing helpful tips and information. Occasionally sending out a direct mail or email survey will help you get to know your customers and better fill their needs. Freely sharing your expertise and gathering feedback from your customers will help you build a strong relationship with your customer base, and establish your company as a trusted expert in your industry. Motivate Team Good......

Words: 763 - Pages: 4

Premium Essay


...ecutive Summary The New Australian Company is a new red wine brand that will be introduced in Singapore. The brand is a unique and high quality red wine brand that meets the growing preference of consumers. It will be distributed to several hotels, restaurants, supermarkets, and wine boutiques/shops that are located in the commercial business districts of the city-state. The brand is managed and owned by a group of wine-lover businessmen who have tremendous experienced in business administration, marketing and sales management and customer service. The owners are now looking for additional investments in order to capitalize the project well. The company has already made several negotiations with successful business distributors in Singapore. The company is confident to compete with many large distributors because it is closely working with top-notch suppliers and manufacturers who are known as wine experts or cellar masters. The target market is the Generation Y or the millennial because it is 77 percent of the population. This group also consumes wines at a faster and higher rate. The sales forecasts for the New Australian Company begin with $700,000 for the first year, and this will increase to 50 percent ($1, 050,000) in the second year, and 60 percent ($1,680,000) in the third year of operation. The company will be expecting a profit margin of 30-40 percent, and at least 25 percent return of investment in the first operational year. The company wants to change...

Words: 1216 - Pages: 5

Premium Essay


...established a few ventures in U.S. He is the owner of Kaplan Auto Sales and Service in Indianapolis. He is into service industry. I admire him as he achieved a lot in his young age. He possesses the capability of a successful business entrepreneur. This interview help us to understand the path that the entrepreneur picks to travel. Mr. Selim Duran the owner of Kaplan Auto Sales decided to start his business in the year 2010. He has degree of Finance for four years. He also has an International business degree from his country. He has 10 years auto sales experiences various companies in U.S. He also worked private sector for 2 to 3 years in management and selling. His father is also an entrepreneur and his mom a housewife. He has a young sister is studying for accounting in United States. His interests are reading and improve his business. Selim’s father was into business so trying hands on business was much obvious. His experiences prompted him to start business. Selim was confident enough that he will flourish. He was confident that he could come up with good approaches to help clients. He selects this business as it was a service sector which was very close to his internal ambition. I would say challenges as an entrepreneur is a part of business which never ends. There is three of challenges. First of challenge, there is an unexpected over cost. For instance, some cars need unexpected parts or service. Then car cost would be over cost which means getting less......

Words: 778 - Pages: 4

Free Essay


...The United States exists in a capitalistic economy meaning that private enterprise is based on fair competition, economic freedom, and private ownership therefore; business is the heartbeat of our economy. Everything from manufacturing, health care, sales, and agriculture involves business in some way. Businesses provide jobs and produce goods and services that we depend on every day (What Role Does Business Play in Our Economy..?). They pay state and federal taxes to the government on their services provided. The taxes paid by businesses and the people employed by them allow the government to function. Looking at businesses in this way you can clearly see that business is a pivotal part of the economy. Within our economy two types of business organizations exist: for-profit and nonprofit. A for-profit organization will produce goods or services in the hopes of making revenue off its products. Most organizations you think of today are probably a for-profit establishment. Organizations that are classified as not-for-profit or nonprofit often operate under the guise of the emotional appeal of compassion but can also become major economic engines. They are business like establishments but unlike a for-profit business, their primary goals do not include making monetary profits. For profit businesses operate to generate revenue under the idea to have more profit than loss at the end of the day. Unlike for- profit businesses, nonprofits are organizations that are......

Words: 1532 - Pages: 7

Premium Essay


...Module-16 The role of business in The economy: M arkets and coMMerce TEACHER’S GUIDE P. 487 P. 491 P. 492 P. 492 P. 493 P. 496 P. 497 P. 501 Defined Content standards Materials Procedure Lesson outline Closure Assessment Overheads VISUAlS N Visuals for overhead projector. Copy to transparent paper for overhead. P. 502 NVisual-1: Market defined P. 503 NVisual-2: Business defined lESSonS 2 Copy and handout to students. P. 506 P. 513 P. 518 P. 522 2Lesson-I: I, Pencil 2Lesson-II: Specializing in production 2Lesson-III: Wal-Mart 2Lesson assessment the role of business in the econoMy Markets and coMMerce Module-16 Teacher DEFInED A market is a social arrangement that allows buyers and sellers to discover information and complete voluntary exchanges of goods and services. commerce consists of trading something of economic value such as a good, service, information, or money between two entities. business is the management and coordination of people and resources to accomplish particular production goals, usually for the purpose of making profit. business, commerce, and markets create many benefits for consumers, and as a result of business, commerce, and markets in the economy, consumers experience an increased standard of living. businesses obtain resources such as labor and equipment, and businesses specialize in the production of particular goods and services. As a result of business in the economy, the......

Words: 9175 - Pages: 37

Premium Essay


...Recording Transactions Keeping business records accurate and up to date is important for the smooth running of a business. The business owner must record all of the money coming into the business from successful sales of the product and all of the money going out, such as expenses including money owed for storage, wages that are paid and money to purchase the stock. If a business fails to do this it may find itself not chasing payments, forgetting to pay bills or, even in trouble with HM Revenue and Customs. If the business does not record its transactions correctly, it cannot report its financial performance accurately and therefore tax payments may be wrong. By recording the sales made, the business owner is given a clear indication of what’s popular and so it becomes clear what products should have increased stock or altered price. In your case, it is very important that you monitor your sales as a new business will most likely not make any profit straight away, so it’s vital to record your transactions so you are able to at least breakeven until more customers become aware of your business and you can start to make a profit. Furthermore, since you have negotiated a one month credit with a supplier, it is important to record your transactions so you know that you can repay the supplier after the month has passed and avoid any consequences. It would be beneficial to you if you could keep your credit supply as then you will have money coming in from your customers to......

Words: 274 - Pages: 2

Premium Essay


...Hotdog Franchisee Business Growth Our business plan to create and grow a large, international hotdog restaurant chain to be offered and consumed around the world, using a Franchisor licence. We aim to follow the guidance of the food chain system of McDonald’s, due to seeing them attract many customers due to their superb business system all around the world, providing their services and products consistently with no fail as well retaining a great level of customer service. Put simply we want to franchise a worldwide business providing a special ingredient of hotdogs with the franchise business system of McDonald’s. To insure the right growth in our business, we will have to keep insuring that all company based objectives are being met, as well as improve our communication of the business as a whole, internally and externally. Internal meaning our staff grow and develop each of their skills day by day through day to day training and external meaning that they are able to gain exposure and awareness or our service to our consumers, this referring to sales and marketing of course. In ways of marketing, we will have to grow our business to appeal to young people, ranging from teenagers to young adults, by raising its awareness on social media and advertising campaigns through networks such as: Instagram, Facebook, Wongnai etc. Since we aim to start our business in Thailand then to expand it to other countries in ASEAN, it is smart that we adapt the customer demand and......

Words: 556 - Pages: 3