Competitive advantage is an edge that a firm has over its competitors, allowing it to generate greater sales or margins and retains more customers than its competition. The more sustainable the competitive advantage, the more difficult it is for competitors to neutralize the advantage. Competitive advantage has two main types that’s to say comparative or cost advantage and differential advantage. Comparative advantage is a firm’s absility to produce a good or service at a lower cost than its competition
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CHAPTER 2 OVERVIEW OF AUDITING I. Review Questions 1. One definition of auditing is that it is a systematic process by which a competent, independent person objectively obtains and evaluates evidence regarding assertions about economic actions and events to ascertain the degree of correspondence between those assertions and established criteria and communicating the results to interested users. The Philippine Standards on Auditing (PSA) 120 “Framework of Philippine Standards on Auditing”
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business, the flexibility of management decisions, government restrictions, personal liability, tax considerations, and the like” (Cheeseman, 2010, p. 529). The major forms of business organizations are, sole proprietorship, partnership, limited liability company, limited liability partnership, corporation, S corporation, and franchise. This paper will define these forms and provide individual scenarios of each and why they were chosen. Sole Proprietorship “A sole proprietorship is the simplest form
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I. Factual Summary: 1. CUTCO cutlery has always been marketed through direct selling via Vector Marketing Corporation. This is viewed as an advantage because it allows the quality and performance features of the product to be explained and demonstrated directly to potential customers. Direct selling sets CUTCO apart from its competitors, who have traditionally used department stores and mass merchandisers to market their products. The people actually selling CUTCO cutlery are independent contractors
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Task 2 Internal Audit I shall perform a marketing audit on Blackberry; this involves both an internal and external examination of the company. A marketing audit can be used to identify both the strengths and weaknesses of a business and how it is affecting their ability to meet their overall aims and objectives. An internal audit is broken down into 5 main categories, these include: Resources- The resources of a business can include their Technical resources, financial resource, their organisational
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framers, but do so in light of the long history of common law which preceded and followed it. That gives you a mechanism for applying the document to situations which could never have been envisioned when the Constitution was written. Public v. Private Action- Companies and individuals can’t deprive you of your Constitutional rights, only a govt can. Commerce Clause- “The Congress shall have Power ……… To regulate Commerce with foreign Nations, and among the several States …….”Article 1, Section 8
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does some research on three legal forms of ownership for a small business. He describes the advantages and disadvantages when compared to the issues involved in starting a business and each other. Finally he elaborates on the choice that he made and why. Legal, Social, and Economic Environments of Business One of the first decisions that you will have to make as a business owner is how the company should be structured. This decision will have long-term implications. In making a choice
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AMALGAMATED TELECOM HOLDINGS LIMITED AND SUBSIDIARY COMPANIES 2nd Floor Harbour Front Rodwell Road | Suva | Fiji Islands +679 330 8700 +679 330 8044 | AMALGAMATED TELECOM HOLDINGS LIMITED AND SUBSIDIARY COMPANIES 2nd Floor Harbour Front Rodwell Road | Suva | Fiji Islands +679 330 8700 +679 330 8044 | 1.0 EXECUTIVE SUMMARY Trends and ratios calculated for the historical years 2006-2010 has been fluctuating, indicating effects
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joint-stock company. In the recent years, they’ve even expanded into the Gasoline and convenience markets. In order to expand how Giant Eagle has expanded they had to become a joint-stock company. A joint-stock company is a company that allows investors to buy shares in their business, allowing them to rapidly grow. If the initial investment turns out to be profitable, the company may offer more stock to the public in order to expand even further. A successful joint-stock company comes with
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for all corporate debts Advantages: (1) Total Control (2) Simplicity of Formation Disadvantages: (1) Difficulty in raising capital (2) Unlimited Liability for business debt (3) Very low liquidity in ownership of business General Partnership * One or more people have ownership stakes in the business * Partnership is a contract; so each party to the partnership must have the capacity to form a binding contract * A partnership is considered its own entity for some, limited purpose; but primarily
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