...American business owners. Following the civil war, industries transformed into modern powerhouses. Big business owners who seized power in these industries became even bigger. New inventions led to new thriving industries. Iron, for example, was replaced with ultra-strong steel. One main reason why steel was in such demand was due to the expansion of railroads. Andrew Carnegie built the biggest steel business in the world. By 1900, Carnegie Steel earned a whopping $40 million a year (Roark, 547). He believed that big businesses such as this actually improved the overall well being of the nation- rich and poor. In his letter entitled Wealth, Carnegie states, “...the millionaire will be about a trustee for the poor, entrusted for a season with a great part of increased wealth of the community, but administering it for the community far better than it could or would have done for itself...” (Johnson, 54). Another captain of industry during industrialization was John D. Rockefeller. John D. Rockefeller is the founder of the Standard Oil Co. and is said to be the richest American ever. By 1890, Standard Oil Co. controlled more than 90% of the oil business (Roark, 548). Rockefeller was so powerful that even the government feared him. By making secret deals with railroad companies and holding extreme prices, Rockefeller cut out any competition that even thought about going against him. Many people call him the symbol of heartless monopoly. Big business owners...
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...different tasks. Organizations are open systems--they affect and are affected by their environment. Every organisation has its own structure and objection and of course what comes along with this is its very own advantages and disadvantages. A sole trader is a business run by one person, the purpose of a sole trader is to provide a service for a client and charge for that. The objective for this organisation just like every organisation is make a profit. An advantage of this organisation is that you’re your own boss, you have the final say. You don’t have to answer to anyone and because of this you save time in the decision making process. A disadvantage is that there is a risk of unlimited liability; the business owner may have to sell personal things in order to pay off debts etc. Another example is a Partnership; this is where there are two or more owners of an enterprise. Again its ultimate goal is to make an established business and make profit, an advantage of this structure is that you have someone to help you make decisions, the pressure is shared and of course two heads are better than one. A disadvantage is that conflict can occur and this will obviously affect decision making and the running of the business. A third organisation is Limited companies, these types of companies are incorporated which means they have their own legal identity and sue or own assets in their own right. There is...
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...Patriotism is the devotion of love and support to one’s country. Patriotism is also the defending of a country, which could mean making the ultimate sacrifice for the country. Without patriotism there would not be many thriving countries, patriotism is a necessity in the success of a country. Many people devote their lives to defending the country they live in and risk their lives doing so. Patriotism demands sacrifice and many unselfish acts that will benefit the country as a whole. Patriotism is the most valuable act in a country’s success and is the livelihood of a that country. People from all over the country are sacrificing their vacations and time off to help rebuild the city of New Orleans. Local business owners are opening their doors...
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...Orgazmz' Hiring Methods and Requirements By Autumn Bryant Small Business Management MT209 Running a business has its perks we all know. This means we are living our dreams doing what we want. Living your own dream does however come with many challenges. One of those challenges is by deciding if use of employees is going to be required. Orgazmz' will require the need to hire employees because it is to much work for a bar to be ran solely by one person. There are three main positions, which will need to be filled. A manager will need to be hired as well as a full time bartender and also a part time bartender. Of course there will be other positions down the road that will need to be filled as business picks up, like waitresses and musicians. A manager is the most important part. He/she is going to be the go to person to deal with many of the everyday functions of the daily business. He/she will report directly to me (the owner). This will be a full-time position, which is 40+ hours a week. The manager can work the hours of 9am to 6pm Monday, Tuesday, and Thursdays. He/she can work 6pm to close (2am) Wednesday, Friday, and Sunday. As business picks up and profits start making good margins then there will be possibilities for possible benefits like medical, dental, and vision. The manager would be paid differently as the other employees because of the higher position. He/she will be paid beginning salary of $30,000-$40,000 a year plus tips. This position will require...
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...Bateman and Snell, 2013 “…an entrepreneur is an enterprising individual who pursues a lucrative opportunity.” Entrepreneurs increase job development and decrease unemployment amounts that affect the economic growth. With all the benefits of entrepreneurship, state agencies strive to promote the awareness of resources available to build a better economic system while distinguishing an enterprise from a small business. Sometimes there is confusion between the meaning of entrepreneur and small business owner. Entrepreneurs are managers just as small business owners, but in a less formal aspect and without a hierarchy of management levels (Bateman and Snell, 2013). Entrepreneurs make an effort for growth and high profitability as their principal objective, whereas small businesses expect regular to reasonable sales and fixed growth (Bateman and Snell, 2013). It is important to know the difference between the two when deciding the types of profits and sustainability one would like for the business practice. Entrepreneurs take risk as a part of their business unlike small business owners (Marks, 2012). Entrepreneurs are always in search of the next best thing to invest in, and small businesses find a product or service to profit off. Entrepreneurs can go months or years with no revenue in search of the next innovation to a...
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...5 years [1.]. As many folks pointed out, there are many variables going into the reason for a success or failure of a new business. Education: A potential business owner needs to be educated to know how an industry works. It is essential to know the industry regulations, governing agencies, and competition in the market. Many successful business owners that I know started working entry positions in an industry that interests them, before opening their own business. Essentially, they learned from their competition, capitalizing from their mistakes. Business Planning: Most of the failed businesses that I encountered failed because of insufficient planning. Over 75% of startup trucking companies do not make it to their second year of operation. Most of these failures are due to poor budgeting and planning. They do not see the true cost of doing business and begin by under bidding their competition. After a year of operations, the overhead cost such as unplanned breakdowns, equipment maintenance, insurance, taxes, or workers compensation begin to eat away their profits. Inevitably the new company fails, mostly due to poor cash flow. Economy: The state of the economy is the biggest factor that is uncontrollable by business owners but plays a crucial role in the fate of a business. It is important to know the general market trends before opening a business. For example, when fuel prices took a dive down last fall, freight rates were lagging behind for months due to a shortage...
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...Computer Applications and Business Systems Concepts course at Rasmussen College. Webster defines the “internet” as an electronic communications network that connects computer networks and organizational computer facilities around the world. Yes, this is true and there are times that the internet is a dear and reliable friend. In personal use of the internet (which is on a daily basis), I have found the internet to be most helpful to me for these reasons, credibility, dependability, variety and convenience. Whether shopping online for a gift or searching the internet for ideas for gifts, the internet is always there to assist at any research need. Just recently, I re-enrolled in school and most of my classes are online, so the internet is of grave importance for the survival of the school year. When using the internet for school, the need to log on to the schools’ website frequently within the day, is important for the overall grades. Looking now at the business aspects of internet usage, I would still need to use the World Wide Web for many different reasons. One of the major reasons that a business would need to use the internet, and would cause growth, is the building of a website for the business itself. If the internet is being utilized in business to advertise and/or promote business the internet is also beneficial to a business because you can inform, recruit, research, sale, report and/or train. A good example of internet use for business is Webinars. For example...
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...multitude of revenue driving facets of business the franchises within the leave so prosperous. From actual ticket sales and personal seat licensing, to numerous types of media coverage, to sports apparel, to performance effects, to even beverage endorsements, the valuation of a professional sports team is not a simple task. In 2010, the 32 teams in the NFL generated over $8 billion dollars in revenue and were valued at a collective $33 billion. Those staggering numbers are generated through a multitude of different econometric analysis and different approaches to valuing the net worth of a team. Cost-asset based approach, income approach, and market/sales comparisons are a few ways that analysts and investors can value a team. For purpose of specificity, I plan to focus on the novelty effects of the Dallas Cowboys new Cowboys Stadium on revenues and the overall value of their organization. (Dallas Cowboys are privately owned, thus public financial information is not available so other resources were used) Does a new stadium have a positive effect of an NFL team? Well, that question kind of seems vague and challenging to answer. Inevitably it would seem that players would want to play harder in a newer facility, thus improving the performance of their game, in turn spurring larger attendance rates which would generate more revenues. However, it is not as simple as that, as there is much to analyze in term of costs that would affect an owner to make such a decision. In regards to...
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...Strategic Plan Part II SWOTT Analysis BUS475 Date Facilitator Strategic Plan Part II SWOTT Analysis The formation of a new and unique business requires a significant amount of analysis before the business can begin operations. The importance of conducting an internal and external comprehensive analysis serves to identify the internal strengths and weaknesses of the business model and the external analysis serves to identify the opportunities, threats, and trends that will impact the business. The information gathered during the SWOTT analysis is essential to ensure the sustainability of the business venture and the creation of a strategic plan. Economic Factors The current economic conditions in the United States and around the world will make obtaining credit more difficult, which will require an initial investment from the owners. Additionally, alternative funding sources such as supplier credit, and searching for capital investments will be necessary. However, because of the slow economy Kaizen will have less competition than in a thriving economy, which could translate into higher profits (Isidro, 2011). Legal and Regulatory Factors Legal and regulatory factors are cumbersome, but necessary in the restaurant business. Legal and regulatory compliance will be a significant part of the daily operations of Kaizen’s leadership team. As an employer it is necessary to ensure that wages are at least at the federal or state minimum wage level (depending on the state), tips...
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...Business Problem I am the owner of a professional cleaning business. I have been in business for four years and have a total of five employees. This business is thriving with high end clientele .I have five employees not including myself. This business has gained a reputation of professionalism, reliability and honesty. Being a business owner, comes with a lot of responsibilities. As a business owner you are responsible for the client’s properties and also for your employees. I have been in business for five years with no incident report. Unfortunately, one of my long time employees had to retire due to health reasons. After realizing that I needed another employee, I began interviewing candidates for the open position. After careful evaluation and referencing I hired a new employee by the name of Angelia. Angelia has cleaning experience and comes with a few unfavorable incidents attached from past employers. We all have hidden pasts some good some bad. Because I do not hold past incidents against someone, I gave Angelia a chance to prove herself. In my business I have gained a reputation of honesty, dependability and trust. Training for my employees is taught on values and morals. Respect and honesty are essential in this business. I trust my employees and will stand behind them, even when accused of a wrong doing. My clientele are middle to high class customers such as Doctors, Lawyers and Dentists. I have through the years established a team I have...
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...Los Angeles was a booming and thriving city, even though it was separated by the races. The white’s had their part and the black’s had their. This worked because everyone stayed pretty much to their side of town. I remember in the 1960’s when my father brother was trying to buy a house in the Leimert Park area and they would not sell it to him because of his race. They would raise the price of the home with the hope that it would discourage him from moving into a neighborhood that was for whites only. Although it was against the law and not wrote down it was just an unwritten rule of the city. His boss of the company he worked for had to go and buy the house from the real estate agent and then he sold it to him. In 1972 my mother brother and his family became the first black family to live on his street in the city of Gardena. With this there was what is called white flight. This forced the white families to move to what is known as the valley. They moved to get away from the other races that was infiltration their neighborhoods. With them went businesses and jobs. It left the communities they were leaving without revenue to help to keep the community thriving. In the 1970’s the school board came up with a plan to help the children of the inter city and it was busing, where they would send children from the inter city into white schools in the valley that had more funding and were supposed to give them a better education. The stores and business in the communities that the whites...
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...basis to programs that we all utilize. In some cases, older family owned business may not be up as “up to date” with technology, as newer companies. My prime example will be Facebook. Facebook is and has been a growing trend for a few years now. One of the most common forms of communication, other than via text message, is Facebook. Some businesses are taking full advantage of this wonderful resource. Facebook is a great way of communication with literally, everyone! By logging onto Facebook you can create a business page and advertise your business, sales, products, pictures, prices, information, and so much more... for free! Anyone who has a Facebook will have access to this business page and can see every detail you choose to list. I personally believe this is a great way to advertise and communicate with past, present, and future customers. There are also programs being created for communication within the office. Cloud 9 is a great example, we use this program in our office. It is a great way to communicate and keep track of what is going on. I think that more business should use resources of this type, to reach out and grow their clientele. Some owners choose to stick to “what they know” and not venture out into this incredible technology simply because it is not familiar. Not seeing they are only hurting themselves, they are closing windows of opportunity by shutting out this technological thriving...
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...Running head: BUSINESS LITERATURE AND SOCIAL CHANGE Business Literature and Social Change University of Phoenix Business Literature Eng 120 November 27, 2009 Business Literature and Social Change As the business industry adjusts to social change, literature plays a huge part in its success. “Business is the most powerful force in society and it has the highest potential for solving social problems” (Cohen, 2009). When a business organization understands human nature and becomes acquainted with cultural diversity, it can adapt to globalization and promote economic growth. It is through literature that business organizations are afforded the opportunity to look back and reflect on the past, while focusing on the present to build upon its functioning infrastructure. This paper will analyze literature in the past, present, and demonstrate how various businesses deal with social change. How does literature portray business in the past and how is it different from the present “In the early 18th century, much of the interest in literary subjects pertained to finance. This was the period in which more ‘respectable’ commercial activity such as the establishment of the Bank of England occurred. In the middle decades of the century, literary responses to commerce addressed the effects of economic growth and a rising standard of living, which some welcomed as ‘progress’ but others deplored as ‘luxury’.” (As cited in ‘The Representation of Business in English Literature’(...
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...international presence with no end in sight for expansion and growth.” (Daszkowski, 2014) Baskin Robbins international locations have flavors popular to the country they reside in. As explained by Barbara Farfan, “Baskin Robbins mission statement is comprised of 12 values and principles for success fashioned by its parent company, Dunkin’ brands. The 12 values and principles are: Honesty, Transparency, Humility, Integrity, Respectfulness, Fairness, Responsibility, Leadership, Innovation, Execution, Social Stewardship, and Fun.” (Farfan, 2014) Baskin-Robbins began as an idea between 2 brothers-in-law. They wanted to start an ice cream business that was a gathering place for families. They knew that the only way to have their business maintain the high standards that they set was to have each manager be part owner in the business, making it a franchise. “Prospective franchisees will also possess: · Adequate resources to purchase a development opportunity for Baskin-Robbins store · The minimum financial requirement for a single unit development commitment includes liquid assets of $125K and a net worth of $250K · The minimum financial requirements to purchase an existing Baskin-Robbins store are reviewed on a case by case basis” (The Ideal Baskin-Robbins...
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...trail that has become the norm for this establishment. The implementation of a new and improved method for accounting reasons will be thoroughly discussed with the revelation of how the new method can be beneficial to the company. One of the issues that is now being faced by Louie’s is the long and unwinding paper trail of receipts hand written by some of the vendors that currently do business with Louie’s. This proposal will shed some light on how Louie’s can also alleviate the pile of unorganized receipts and other major business financial records that currently reside on the desk of management. Another purpose of this proposal will be to show Louie’s a new method of keeping track of inventory. In order to stop wondering where all the profits are going, with the equipment/software introduced in research will keep Louie’s on top of monitoring inventory to keep profits inside the lounge. Purpose of the Proposal The purpose of this proposal to show Louie’s Lounge a few cost efficient ideas to bring the business up par with keeping and maintaining records to keep the business thriving for possibly another 45 years. This paper will also indicate ways that the new inventory system can help save money on purchasing inventory without the worry of not buying enough or buying too much. Although record keeping has been done the same way for many, many years, Louie’s will be shown the benefits of updating to today’s technology. Today’s technology being that of making use...
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