Bus_210

Week 1 DQ 1 The companies that are more profitable than others are the ones who invest their resources into the product wisely. By doing this they are generating more profits for their product. For example, Nike Tennis Shoes take large amounts of their resources into advertising for their product. With endorsements by major celebrities and athletes they make their product more appealing to their audience. By in turn they are helping their profit by making the product more appealing to the audience they are targeting. This also raises their profit. The profit being how much the product generates for the company. If they use their profitability wisely by applying their resources to what will generate future profits for their product then they will have a very successful business. DQ 2 Explaining how the price of bananas differs from season to season is fairly easy. Knowing first of all that most fruits come in season at different times and there is abundance in one season making the price of bananas lower because there is not a shortage of the fruit. On the other hand there is a season were bananas are scarcer making the price of bananas go up. If it is harder for the distributor to provide the product they are ultimately going to charge more for it. When the product is easily obtained they are going to charge less. Checkpoint: Business Models and Systems The local business I selected is called “Express Yourself” which is a local T-shirt shop in my area where they make personalized shirts for the customer. This business is family owned and there is not a chain of businesses attached to this one. The business model I would have to say is very simple because there is not another store in their industry in my town. This makes them the only shop available for this particular service. Business Commerce -would have to be strictly trade and there is not bartering. Exchanging any goods or services from this business is a money transaction. By doing this they are able to continue to provide their services for the same low price they have always had. Business Occupation –The knowledge of the field they are in and technology of computers has allowed them to be successful in this industry. They have acquired needed skills to make the product successful and appealing to the consumer. Business Organization- Being this is a local business that is family owned there is not really a great organization within the company. There is more of a 50/50 ownership allowing each owner to be his/her own boss. Although this seems very unorganized the company still seems to flourish in the industry they are in because of the lack of this service in my area. Week 2 JOINT STOCK COMPANY BORDER TEXTILES Border Textiles has investors who purchased shares of their company. In return for their investments the investors receive a percentage of the companies’ profits. If this company is defeated in their industry and has to shut their doors the investors will lose all stocks and investments they have in this company. This would also make the liable for lawsuits by any business’ that the company had a previous debt too. Making them responsible for the debt owed. LIMITED LIABILITY COMPANY FREEDOM UNITED FINANCIAL GROUP Freedom United Financial Group is a Limited Liability Company. They have stockholders just as companies in Joint Stock Companies o, but if their investment goes bad or the business goes bankrupt they can not be sued for any debt owed by Freedom United Financial Group to any other organization. They just lose all stock or investments made in transaction with this business. PARTNERSHIP CANDLES, INC. This company has a variety of owners who each have a specific skill that they contribute to the company. Therefore they have no investors and split ownership. They are considered the “stockholders” in this company making them liable for any loses or investments that are mae to the company. SOLE PROPRIETORSHIP JOHN KENDALL SHOE DEPARTMENT This business has one owner and no stockholders or partners. There is no one who claims profits, makes decisions, or suffers if the business doesn’t make it but the sole owner. He is in charge of all financial input and output of this company making him the only liable person affiliated with this company. Week 3 DQ 1 Is Digital Piracy Unethical' Or Just Illegal' I chose this case study because it is so often we hear about people downloading music illegally. In order for this to be unethical it would have to be illegal. Stealing is considered a unethical offense, but it is also considered illegal. So therefore if you are downloading music, movies, etc, without paying a fee to the site then it is illegal. I believe there is no gray area when it comes to this and businesses are losing tons of money everyday with this going on. The sad reality is the more technology advances the more we are going to see things like this happen. DQ 2 There are always going to be laws just for the simple fact without laws there is no structure for us as a society. Although businesses may strive to make ethical decisions there are always going to be those businesses or people who try to cut corners to make an extra dollar. As in the previous discussion question I stated you have to have moral reasoning behind a law. That in turn makes a law not only a legal issue, but an ethical issue as well. I believe they are more similarities between the two than there are differences. To have and ethical issue you have to have a law to compare it to making it ethical. Codes of Ethics All employees affiliated with this company shall follow this specific list of rules regarding behavior, and decision making: 1. All employees shall conduct themselves in an appropriate and professional manner when fulfilling duties affiliated with the company. 2. Employees shall be treated equally and will not be discriminated against for race, religion, gender or beliefs. 3. Our success is based on our customers. Making our customers our number one priority by meeting their needs and wants to better increase the quality of our services. 4. There is a Zero Tolerance Policy affecting those who are dishonest in this company. You will be automatically terminated and legal action may be sought towards those who remove property of this company without permission from its owners. 5. Doing what is best for the company as a whole and not seeking intentional self purposes. Not doing what is in the interest of the company and its affiliates as a whole may result in suspension or possibly termination. The reason I chose these rules is because they are standard to what a functional business would use. Having structure for employees to follow and letting them know there will be consequences to their actions if they disregard the rules. I believe this would help my business run smoothly with all employees knowing what is expected of them. Axia College Material Appendix B Roles and Behaviors Description of Company | Fullen Financial Services: This company will be responsible for getting loans for customers at the best possibly interest rate. It will also keep priority of keeping our customers first with competitive offers and rates. | Roles and Behaviors | Entrepreneurs | The Entrepreneurs of Portales Brokers will be responsible for gathering resources that will be useful to the business. They will also share insight about the company and how it is run. They will find the best investors to help the company be a success story. They have the biggest responsibility their actions can make or destroy the company. | Managers | The Managers of this company will be responsible for using all assets to their best ability. They will run all operations within the company and business model. They will assist any customers who have problems and help any employee who has issues. They will also be in control of reporting to the owner of any problems within the company with employees or customers. They will make sure the business follows the Code of Conduct and maintain a business image at all times. | Employees | The Employees will be in control of pleasing our customers to their best ability. They will maintain a business image that reflects well on the company. They will perform all tasks to the best of their abilities and always put their customer first. They will report any issues to the manager so it will be handled in the appropriate manner. This role is very important because they will be the first interaction the customer will have with the company so making a good impression on the customer is a must. | What behaviors and attitudes should be cultivated in your organization' | I believe that all behaviors and attitudes should be a positive reflection on the company. They should maintain a business image at all time and represent the company to the best of their ability. By doing this they will make the company maintain or create a good name in the industry. This is important being that “word of mouth” travels very fast. You can have one customer who could ruin your name in the field. I also think that having an Ethical Code of Conduct will help all members of this company have structure and keep things running smoothly. | Axia College Material Appendix C The Four Functions of Management Description of Event | I was assistant manager at a local diner in my area. I had to perform many duties including filling in for upper management if they were not available. I had very few employees being this is a privately own business chain, but still had the duties of other managers in the same field. | In the table below, categorize your actions during the event under each of the four functions of management. Planning | Organizing | I had to organize schedules of my employees making sure they were properly scheduled to perform tasks they are good at. This made everything run smoothly. There was a standard business model used so all employees would report to me with any issues and I would take it up with my superior. I also helped set goals for the employees to work towards that would not only benefit them, but in turn benefit the business. | The most organizing I did with the business was scheduling employees to perform the specific tasks they do well at. I also helped them realize the authority in the restaurant, and to report to me for anything needed. I believe this helped them feel comfortable with the business in knowing they could come to me with their issues. | Leading | Controlling | Making goals for the employees to try to achieve and motivating them to achieve them was how I performed leading. I tried to be a positive influence in the business while still holding my responsibilities to the business as priority. This seemed to help the employees work better together and make the business more pleasant to come too. | Trying to find tactics to help the employees stay motivated to do the best they could at their job. Making certain tasks within the business easier for the employees seemed to help do this. Giving them change to keep it from being so repetitive they got bored. I was always up for a little change to help keep things fresh for the employees in the business. | Running head: SWOT ANALYSIS SWOT Analysis Axia College SWOT Analysis The business model I have chosen to analyze is of a Day Spa business model. When doing this analysis I have found an overwhelming amount of strengths in this business model. They have a great location which was placed near a nail salon for marketing purposes, individual customer attention making it a more personal experience, and they offer unique treatments that is only offered through their services making them a minority in the service they provide. Marketing is very strategic with the day spa being placed in a plaza near a nail salon. There is also a hotel near the premises broadening the customers who will use the spa. There will be many visitors who may be one time customers, but the locals who may be weekly customers. The model also explains the sole target which is customers within a five mile radius with a yearly income of over $25,000 a year. This I believe helps by knowing the types of people they will be potentially serving and knowing how to target these potential customers. This business is going to be a sole proprietorship meaning they will only have one owner who will make all the decisions of the company and take all fault if the company fails. There are no stockholders making the owner the only liable person within the company. The owner listed for this company has a very strong background in business and a great record for success. This makes the company have an advantage in the business field simply for the fact she has the experience and her accomplishments in business success. There is also a sufficient amount of capital that will be injected into the business making for a positive success. The business model also has a very marketable aspect as well. If the owner every decides to sell the company, or bring in investors there is a very high chance she will be able to achieve that. Competition is very limited for this particular service being there is not another “day spa” in the area. There are other services that are similar to this business model, but have limited access for certain genders, or their costs are exceptionally higher. They do not offer the same services as the day spa therefore the day spa is very unique in the services it provides to the customers. The business model also explains the marketing edge they have over any competition in the area that would attract consumers to use their services over the competitors. I do not see any weaknesses in this business model. It seems to be very well thought out and planned. There is a small window of failure that comes with any new business although with this company there is only going to be one who suffers if the company fails. I believe they have a strategic marketing technique that is going to pay off in the end. With the wonderful location and amazing services offered by this business model there is a great chance this business will be a great success. There are other opportunities that could be created through this business model. There is the chance of making this a chain of spas which may have the potential of expanding globally. The only fault in that is there are not any stockholders making the chance slimmer that the owner would be able to have the appropriate capital input for it to expand that widely. The way technology and lifestyles change there is always going to be the change in the services they provide. This makes the company very versatile and able to continue offering new services to their customers. With this current business model I do not believe they have any initial threats that would be a problem. They have all marketing aspects covered, have surveyed all of their potential threats in relevance to location, services, and costs. The only concern I would have is the surrounding “spas” might possibly start increasing their services to keep up with the “day spa”. This is potentially the only threat I see in this business model. I do not think there is going to be any problems with this business model. The structure is very strong and the success rate of this company looks very good. Week 5 DQ 1 When it comes to persuading someone into seeing your point of view I believe face-to-face is the best technique to use. You have a lot of advantages when you use this techniqes such as seeing the expression of the person, and being able to read them. Knowing if what you are saying is having a positive or negitive impact on the person. By knowing this you can know what will work the best for persuading different individauls. I also think that being able to be on a personal level with the person by being face-to-face and allowing them to get to know you as an individaul helps you persuade people as well. DQ 2 Although I have never experienced any of this tactics my husband has experienced the attack and blame tactic. He was working for a company where there was always one person who was never wrong and would find someone to blame something on and have everyone believe it was the absolute truth. He was basically conspired against for a job that did not go right as it was planned making him the person to take the fall within the employees. On the plus side when it was all over the owner of the company found him to to be a fault and punished the leader of the department. I believe in a sense this is a little bit of justice for those little people who do not have a big voice in their company. Running head: FULLEN FINANCIAL SERVICES Fullen Financial Services Axia College Fullen Financial Services In my job fair brochure for Fullen Financial Services I stated the common goal of my company which is to keep our customers as our number one priority and commit to the best service possible for them. I also described the structure of my company. There is going to be Entrepreneurs, managers, and employees that will make the company a great success. The Entrepreneurs will help gain useful resources for our company and share valuable insight that will help the company be successful. Our managers will make sure to that all customers’ needs are meet by all employees of the company. They will handle major decisions that could affect the company and its employees. They will assist employees who have difficulties performing tasks or maintaining the correct code of conduct set for all employees. Our employees are the main part of our company. They will be assisting customers and having face-to-face interaction with our customers. They will need to be very approachable and have a great attitude towards the goal of the company. This will help the company be a great success. Our business model is based on a great location in a shopping plaza that will gain numerous attention by potential customers. This will allow us to not only get people to come based on advertising, but just by seeing the building. We also have very inclined people who are going to be over seeing the business that has years of experience. This will help the business flourish and be the best that it can possibly be. There are high projections for this business with great figures that will be very achievable. There is going to be a very consistent amount of people that will be working with this company to help achieve all goals of this company. There will also be a consistent amount of attention that will be bestowed mainly on our customers. Our business culture is going to be based on our code of ethics. There is no tolerance for dishonesty that could be harmful to our customers or our company as a whole. All employees will be sure to properly dress and conduct themselves when they are within the company. They are to maintain the best business image possible for the company and the people who work for it. They need to also make sure to conduct themselves in the approaiate manner when using the name of our company. Our code of ethics is very important in this company and will eb followed to their upmost ability. I believe that all of the choices I have made for this company is the best possible. There are little room for errors, and this plan seems to have all bases covered. I want to always make sure that the customers remain our number one and this also includes making them comfortable enough to return for our services. By having strong leaders in our company that will help lead us to success I do not think there is going to be issues that would arise very often that could not be handled. Week 6 Two Men and a lot of Trucks In this case study I found the motivation theory used wat in Moslow’s Needs Hierarchy Theory. To be more specific I believe it was the Self-actualization because she was trying to help gain business for her sons moving company.. She was trying to help their privately owned business take off and receive more orders. A specific example would be starting the advertising for the company by placing an ad in the local paper. This in turn helped them receive more orders. The approach taken to create teams in this company was allowing employees and others to buy franchises within the company. This also helped to expand all aspects of the company. Siemens’s New Boss This case study was completely different. The boss within the company used the motivation theory of Expectancy by asking the workers to stay later and work on weekends. He also showed great interest in what they were doing and their concerns. He was prompt to answer e-mails, questions, and hang around to get acquainted with the employees. This also allowed him to motivate the workers to pull together and work as a team to achieve a common goal of success. This was helpful to the workers who in the beginning were concerned about the possible loss of their jobs. Portales Brokers Company The goal of Portales Brokers Company Our main goal at Portales Brokers Company is to make sure we provide the most beneficial services possible for our customers. Fully satisfying customers to its furthest extent, and making them our number one priority is a goal at Portales Brokers Company. Our Companies Structure The structure of our company is very simple. The Entrepreneurs of Portales Brokers will be responsible for gathering resources that will be useful to the business. They will also share insight about the company and how it is run. They will find the best investors to help the company be a success story. They have the biggest responsibility their actions can make or destroy the company. The Managers of this company will be responsible for using all assets to their best ability. They will run all operations within the company. They will assist any customers who have problems and help any employee who has issues. They will also be in control of reporting to the owner of any problems within the company with employees or customers. They will make sure the business follows the companies’ procedures. The employee is in charge of meeting the customers needs and should always make the customer their number one priority. Follow code of conduct, and report any problems to the manager so that they can be handled in a appropriate manner. They will be giving one on one interaction and meet the needs of our customers. Our Business Model We have very strong individuals who are going to be leading our company to success. We are projecting that the area we have chosen to run Portales Brokers Company is also going to help the business thrive in the industry we have chosen. Our business would be placed on a busy business street, preferably next to a shopping center for high levels of traffic. This business must be successful by any means necessary.. Business Culture We have a very ethical business code of conduct. All employees will be treated equally and no exceptions. There will be zero tolerance for dishonesty, and anyone who disobeys this rule would be issued proper punishment. All employees will work together as a team to achieve the main goal of Portales Brokers. Those who do not agree with the terms of the company would be permanently placed on the watch list and considered for termination. Axia College Material Appendix D Contingency Theory of Leadership Description of work environment | A fun, energetic, fast paced restaurant. Working along with other employees in a close work situation while maintaining excellent attitude and perspective. Meeting the needs of multiple customers and making cleanliness a priority. | In the table below, categorize different leadership approaches that could be used in the work environment you have described. Provide different suggestions for each of the four approaches to leadership. Directive approach | Supportive approach | Passing out employee handbooks is a must. It helps the new employee get familiar with the rules and goals of the company. This also creates no confusion about what is asked of them. Proper training the is face-to-face making it more personal and allowing room for questions that may not be covered int the employee handbook. Making the incentives known to employees with outstanding performance also makes the work environment more rewarding. All scheduling will be made based on the best attributes the employees have to offer. By giving them tasks or certain positions they are comfortable and excel in makes the work environment more exceptional for the leaders and employees. | Always being part of the “team” not just the employees doing all the work. I believe that the leaders should work along side of their employees maintaining great communication and professional relationships. Meeting the needs of employees based on their personal situations. Allowing leave for certain circumstances, and helping the schedule according to their personal lives. Having general concern for employees and making them important and feel important to the company and its well being. Being approachable by all employees without feeling they are threatened to come to leaders with concerns about the company or another employee. Maintaining a great trust and comfortable environment for them. | Participative approach | Achievement-oriented approach | In order for a business such as this to work smoothly there can not be active employee roles pertaining leadership decisions. This would be a recipe for total chaos. Employees can make suggestions for better work environment issues or anything they believe would be beneficial to the company as a whole. | Setting goals for employees as a whole and giving them incentives for performing well. Showing high confidence in the employees will also allow them to feel pride in their job and perform all tasks to the highest level of completion. I believe this is a great way to keep employees motivated. There has to be a standard in which employees equally complete tasks. Not allowing employees to perform jobs at their own free will and how they would like to do them. This would just not be fair or efficient for the company. | Leadership recommendation | I believe there are two great approaches for this business environment. One being the Directive Approach because it helps to organize the company and keep all rules and procedures clear. This is a great way to start off new employees and maintain the same standards for all employees.The second would be Supportive Approach because you have to have a humane approach in a business as well to keep it running smoothly and maintain employee positions. Without this you would have massive overturn and would not be able to keep positions filled. | Week 7 I believe there are many things that would benefit the departments when it comes to improving. The main two I have chosen is proper training and incentive programs. With proper training for all employees you will have the satisfaction of knowing your employees can handle numerous tasks that are ask of them. Keeping the up to date on all of the latest technology and resources by offering special training in these fields will help them feel more comfortable performing everyday duties. It will also help with maximizing the potential of the employees’ abilities. I believe this will be the best approach for the department to focus on immediately. The other potential change I have selected for the department would be an incentive program to help benefit the workers. Not only would this show them they are appreciated for all the hard work they do, but it will also motivate them to excel in their duties. By doing this you will show them how important they are to the company and in return see the performance level rise tremendously. I believe by using the two of these suggestions when trying to improve departments within the business you have an amazing combination that will equal nothing but success. Allowing your company and employees to work together to make the department better makes the bond between the two very strong and will ultimately benefit everyone in the end! Axia College Material Appendix E Hardware/Software Components In your own words, describe the following hardware/software components Legacy systems | These are the hardware and software components of an existing IT system that a company already has. They are also used by companies who invest large amounts of money into their system in order to have sufficient increase in profits. | | | | | | | | | | | | | | | | | | | The career path that interests me is one day owning my own business. This class has influenced me by making me know every single thing there is to know about owning and operating a business. I honestly did not know that there were so many things involved in busines.. Also for whatever it is I choose to do in my career.  All of the little things that I have learned here in this class will help me to better my future. I can now look at my future with a smile on my face because of what I have learned. Running head: DEVELOPING GOOD BUSINESS SENSE Developing Good Business Sense Axia College Developing Good Business Sense I have had more experience with working in fast food industries so I decided to conduct my anaylis on that of three different fast food restaurants. With the first and second restaurants that I chose I realized that both of the companies’ employees approach and perform tasks in a very similar way. They both have very structured, standard rules and regulations for all employees to follow. By doing this I believe the company allows little room for errors and it is a good business decision so that all employees have the same code to follow and no one is singled out. All employees are held to the same standard as all others, and are expected to perform at their best as well. With the third restaurant I noticed there was really no structure. There was no management that was taking charge and making decisions, and the employees seemed to have free reign of what they did or did not want to do. This didn’t seem to be very professional and the business did not run as smoothly as it could. As stated earlier there were many differences in the last company I analyzed compared to the other restaurants. With the first two restaurants there was a lot of structure. Managers within the businesses took charge and made sure that customers were served properly. They handled all problems that arose within their shift and the company had a very set schedule that helped the company run very smoothly. With the last company there was little structure with not having a manager or someone who is placed in charge of the facility. Employees did not place the customers as their first priority which really hurts the business as a whole. There was a set schedule, but no one to really enforce employees to be on time. It is really hard to run a business that has no structure and with employees who have no standards ask of them. The main cost of OMM for these companies would be the sale of their product. Fast food industries in a sense do not generate massive amounts of profit. Therefore, they have to watch their output on their products. They generally stay concerned with being wasteful and make sure to keep track of any products that are not used, run out of date, and may be a older promotional item. Keeping down on the initial loss of product helps them balance out their costs, and in turn maintain better profits. This is also true by making sure employees are following a general rule of how much food they have for break, and making sure there are no unethical issues with removing food from the premises. These companies also have the standard amount of OMM costs that would include electricity, water, storage, and receiving goods from other companies in order to make their products. These costs generally run more expensive than the initial pay of the employees. By keeping a standard that everyone should follow when using these materials they help keep their costs and usage lower so they can take in more profit. It is simply a strategy of how to balance out good business sense versus bad business decisions. These companies design their operating systems to make the customers experience the best. They offer fast, affordable, and friendly service which helps to bring customers to their business. They also offer new things such as specials, or different menu items which keeps the customer from getting bored with their services or product. This is very helpful to the company and provides a selling edge for other competitors to keep up with. If they are not able to offer the same amount of services or products the business is in a league of its own. Most companies try to make things new for their customers, but if you have a good product fromt eh beginning then you will continue to keep your customers coming back for your new products as well. Making good business decisions is a must when dealing with the public. Your customers could make or break your business and word of mouth travels very fast. By offering the best services in your industry you allow yourself to gain an advantage in the industry you have chosen. I believe that always keeping things new and fresh for your customers will pay off in the end. REFERENCES Jones, G. R. (2007). Introduction to business: How companies create value for people. New York, NY: McGraw-Hill/Irwin