Assume that you are going to start a small business of
your own. Further, imagine that...
Assume that you are going to start a small business of
your own. Further, imagine that you are able to adequately
differentiate your product, or service so that you can establish
your business as a monopolistically competitive firm.
Describe the business and its likely main
competitors.
How would you structure your advertising and customer
service to differentiate your product/service?
How easy would it be for new competitors to enter your
market and erode your customer base or selling price?
What would be your prognosis for the long term
profitability of such a business?
What could you do to protect that long term profit
stream?
Topic: Role of Advertising
Assume that you are going to start a small business of your own.
Further, imagine that you are able to adequately differentiate your
product, or service so that you can establish your business as a
monopolistically competitive firm.
Describe the business and its likely main competitors.
How would you structure your advertising and customer service
to differentiate your product/service?
How easy would it be for new competitors to enter your market
and erode your customer base...
Pretend you are going to be an entrepreneur and you want to
start your own business. You have a great idea, you are
ready and willing to work. You just need--money. You will need
$500,000 to start your business. But you do not have
that much money. You only have $50,000 available from your life
savings. What avenue or avenues would you pursue to gain the money
you need to get your business started? Explain what would work best
for you, and...
Imagine that you want to start your own business of selling
burgers. You are however working on a salary in some other
cafeteria. You make a budget and see that you might have to incur
the following expenses to run a cafeteria. __1. Imagine at least
five variable expenses and five fixed expenses of your choice (can
be more). __2. Imagine a Sales Price for your burgers. __3. Also
imagine some basic drawings or salary for yourself as you are...
Imagine that you are going to open your own manufacturing
business, making Frozen Pizzas.
a) What sunk costs are relevant to your company? Why are
these sunk? If none are relevant, why aren’t any sunk costs
applicable to your business?
b) What opportunity costs would you consider when
deciding to open your business?
**Looking for thorough answers so I can add any new information
to what I have already written on my own**
If
you could start your own small business franchise, what would it be
and why? What are two specific disadvantages you would anticipate
encountering as the owner of that small busness or franchise? What
is the one thing you think would the most important thing to do in
making sure your business was successful and how would you try to
achieve it? Be as specific as possible in your response.
Imagine that your team is going to open its own manufacturing
business, making
List and describe the costs that would be involved. There is no
need to
provide quantities, costs, or other amounts. Just list the costs
and describe them if and as necessary to clarify your plan:
Be sure to classify the costs correctly using information
covered in this course.
Provide enough information about the cost to justify why your
classification is
correct.
List enough examples...
Assume you are a small business owner and operate within your
own home. You must determine which accounting method and accounting
period to use. What would you choose? Explain your reasoning.
Your reflection should be at least 150 words.
Using what you have learned in Assignment#1, you are going to
further develop your own fast casual restaurant brand in Burnaby,
B.C that will target a particular segment or segments of the fast
casual restaurant market in Burnaby, B.C. This means that you will
need to think of who your target consumer is. In this part of the
assignment we are going to focus on the personality of a brand,
i.e., the brand persona. When we are developing our brand’s...
You have decided to start your own small business selling
SkatePlates—mini skateboards which clip on to users’ shoes. You
think you have a good product, but know there is lots of
competition for the target market you hope will buy your
product.
You hope to quickly develop a solid customer base before
consolidating in years 2–4 of your business. In five years you hope
to enter a growth phase.
You recognise the importance of developing profit goals/ targets
and have...
Suppose you are going to start a new business, do the projected following financial statements, and analyse them in your own words: Manufacturing AccountTrading AccountProfit & Loss AccountA break-even analysis From your accounts, you find out the Manufacturing costGross marginNet marginVariable costFixed costmargin of safetyContribution MarginBreak-even unitBreak-even revenueTargeted operating profit before and after tax Then, (1) Give a background description of your business.(2) Analyse the importance of each of the above accounts.(3) Identify the essential elements of cost-volume –profit analysis.(4)...