And compensating employees and attending their labor relations

many business careers that are available. How does the knowledge that you have

acquired about business this semester, help you to become a better employee,

Generate recurring income.
Increase the value of the business assets.

The intrinsic value and income-generating potential of an asset cannot be realized without a way to secure it. For example, petroleum deposits are worthless unless processes and equipment are developed and employed to extract, refine, and distribute it profitably.

The business model of a business describes the means by which the three management imperatives are achieved. In this sense, a business operation is the execution of the business model.

Generating recurring income

Securing the income and value of the business

Desirability or demand for its goods and services
Ability of its customers to pay for its goods and services

Role In The Business

These are the various roles which we have to play in the business:

Controlling is the function that evaluates quality in all areas and detects potential or actual deviations from the organization's plan. This ensures high-quality performance and satisfactory results while maintaining an orderly and problem-free environment. Controlling includes information management, measurement of performance, and institution of corrective actions.
Budgeting, exempted from the list above, incorporates most of the administrative functions, beginning with the implementation of a budget plan through the application of budget controls.

Who were your competitors
Were there any changing circumstances that might necessitate changes in the way that the company was being managed

Auditor
Contract Specialist
Internal Revenue Agent

Business

Internal Revenue Officer
Quality Assurance Specialist

Economist
Financial Analyst

Employee/Labor Relations

Contractor Industrial
Relations Examiner
Labor Relations Specialist

Assessor
Budget Analyst
Tax Examiner
Trade Specialist

Logistics Management Specialist
Management Analyst

Manpower Development Specialist
Program Analyst

Representative
Communications Specialist

The knowledge that we have acquired about business this semester is a great help to us to become a better employee, manager, and a business owner. The knowledge which we have gained helps us to understand the various business operation and activities. This will enable us to carry out these business operations more proficiently. We have also learned about the various roles which we need to play in the business as the business administrator or employer. The knowledge which we have gained also helps us to know about the various carriers available to us and then select the best carrier according to our strength and weakness.

REVENUE = $250

EXPENSES = $350

Three goals of Human Resource Management are-

HRM basically focuses on acquiring, training, appraising, and compensating employees and attending to their labor relations, health and safety, and fairness concerns.

Creative - An entrepreneur needs to be creative and innovative. His/her ability to create something new or to modify something old into something useful will be very crucial in the world of entrepreneurship. The main point here is, be creative to provide value to the customer

Good leader - A successful entrepreneur needs to be a good leader. He/she needs to know how to handle the staff as well as the business/products. A good employment policy to retain the company’s best people might be the entrepreneur’s only advantage over his/her competitors.

Vertical Merger In this type of merger, one firm acquires either a customer or a supplier. Example Carnegie Steel company which not only controlled steel mills but also mines for iron ore and coal mines.

Conglomerate mergers encompass all other acquisitions, including pure conglomerate transactions where the merging parties have no evident relationship, geographic extension mergers, where the buyer makes the same product as the target firm but does so in a different geographic market, and product-extension mergers, where a firm that produces one product buys a firm that makes a different product that requires the application of similar manufacturing or marketing techniques.

accomplishment.

Staffing

jobs, measuring results, checking for acceptability, taking corrective action.

Why is market segmentation important? Describe three ways firms can segment

Geographic
Demographic

Motivation
Benefit Segmentation

Information should be of high quality-it must portray reality accurately. The more accurate the information the higher is its quality.
Information should be relevant, meaning that it can be used directly in problem solving or decision making process.

Alliances.
Contract Manufacturing.

- also done when the size of the project is beyond the scope of even large companies
Equity Alliances - a relationship when the partners take joint ownership of a subsidiary

allows for flexibility when you need to temporarily increase output
risk to the

Franchising

common in the convenience food and beverage products industry

10. What is the fundamental accounting equation? Which of the 3 financial statements does it appear on?

Fundamental accounting equation is as follows

Income Statement