an engineer working for a large consulting firm has decided to establish his own business. although the new business is several months from start-up, the engineer should:
Answers
To start a successful business, an engineer should conduct market research, develop a business plan, register the business, secure funding, establish a strong network, develop a marketing plan, and hire a team while staying organized with accurate financial records.
As an engineer who is starting a new business, there are several steps you can take to prepare and set yourself up for success:
Conduct market research: Research the market to understand your target customers and their needs. This will help you develop a product or service that is in demand and can help you position your business for success.
Develop a business plan: A business plan will help you outline your business goals and strategies, including financial projections and marketing plans. It will also be helpful when seeking funding from investors.
Register your business: Register your business with the relevant government agencies and obtain any necessary licenses and permits.
Secure funding: Consider various funding options, such as loans, investments, or grants, to help finance your business start-up costs.
Establish a strong network: Network with other business owners and entrepreneurs in your industry to gain valuable insights and make connections that can help your business grow.
Develop a marketing plan: Create a marketing plan that outlines how you will reach your target customers and promote your products or services.
Hire a team: As your business grows, you may need to hire additional employees to help manage operations and support growth.
Stay organized: Maintain accurate financial records and establish systems to manage operations, sales, and customer service.
Starting a new business can be challenging, but by taking the time to properly prepare and plan, you can set yourself up for success and achieve your goals.
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Related Questions
selecting a target market involves all of the following steps except
Answers
Answer:
E. all of the above are involved
prepare a double entry ledger entries January 3 took out of the cash till$50 and put into the business by cheque Jan 4 the proprietor put a further$5000 in to business by cheque .please I need it quick
Answers
Explanation:
In the first entry, $50 is taken out of the cash till and put into the business as drawings. The effect is a decrease in the cash balance and an increase in the drawings account.
In the second entry, the proprietor puts a further $5000 into the business by cheque. The effect is an increase in the capital account and an increase in the bank balance.
It's important to note that "Drawings" and "Capital" are the accounts used to record the personal transactions of the business owner in this case, it is assumed that the business is a proprietorship. Other forms of business may have different accounts to record the personal transactions of the owne
Mazie is on the board of directors for Belltone Corporation, a corporation that manufactures hearing aids. Mazie has not attended a board meeting in the last two years and has not participated in any board activities. Mazie refuses, however, to give up her position on the board. Mazie can be removed from the board by: a majority vote of the shareholders. a unanimous vote of the shareholders. a unanimous vote of the directors on the board. a majority vote of the board of directors.
Answers
Mazie can be removed from the board of directors for Belltone Corporation by a majority vote of the shareholders.
In corporate governance, the process of removing a director from the board typically requires specific procedures and criteria. In this scenario, Mazie's absence and lack of participation in board activities raise concerns about her effectiveness as a board member. To address this situation, the board of directors or the shareholders may seek to remove Mazie from her position.
The authority to remove a director usually lies with the shareholders, who are the owners of the corporation. Shareholders exercise their voting rights to make decisions regarding the company, including the appointment and removal of directors. In this case, a majority vote of the shareholders, meaning more than 50% of the voting shares, would be sufficient to remove Mazie from the board. This allows the shareholders to take action and ensure that the board is composed of active and engaged members who act in the best interests of the corporation and its stakeholders.
It's worth noting that the specific procedures for director removal may vary depending on the corporation's bylaws and applicable laws or regulations. Shareholders should consult the corporation's governing documents and seek legal advice if necessary to ensure proper adherence to the removal process.
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The government has the most influence over the production of goods and services in which economic system
Answers
Answer:
It’s command my good sir
Explanation:
Apex told me so
Answer:
Command
Explanation:
Apx
i need help ASAP!!!! Generally, parties of 8 or more require many restaurants to include gratuity of 18% on the check before presenting to the guest. For a party of 12 and a total check in the amount of $191.40, what is the gratuity amount added to the check for this large party?a) $18.00 b)$34.45 c)$43.54 d)$191.40
Answers
Answer:
b)$34.45
Explanation:
Gratuity is similar to a service charge.
If the bill is $191.40, and gratitude of 18 percent will be added.
The actual gratitude amount that will be added will be equal to
18% of the $191.40 bill.
=18/100 x $191.40
=0.18 x 191.40
= $34.45
describe the process of career planning
Answers
Answer:
The career planning process involves taking the time to decide what your career goals are and how you'll get there. You might engage in this process on your own or with a guidance or career counselor. You can also start the career planning process at any point in your career.
Explanation:
Answer:
aalu jasto answer dinxa
Your product costs $5.00
to make. If you want a
gross margin of 50%,
what should your price be?
$[?]
Answers
Answer: $10.00
Explanation:
Paul Swanson has an opportunity to acquire a franchise from The Yogurt Place, Inc., to dispense frozen yogurt products under The Yogurt Place name. Mr. Swanson has assembled the following information relating to the franchise: a. A suitable location in a large shopping mall can be rented for 3,500 per month. b. Remodeling and necessary equipment would cost 270,000 . The equipment would have a 15 -year life and an 18,000 salvage value. Straight-line depreciation would be used, and the salvage value would be considered in computing depreciation. c. Based on similar outlets elsewhere, Mr. Swanson estimates that sales would total 300,000 per year. Ingredients would cost 20% of sales. d. Operating costs would include 70,000 per year for salaries, 3,500 per year for insurance, and 27,000 per year for utilities. In addition, Mr. Swanson would have to pay a commiss2.14ion to The Yogurt Place, Inc., of 12.5% of sales.Required:(Ignore income taxes.)
(c) Compute the payback period on the outlet. If Mr. Swanson wants a payback of four years or less, will he acquire the franchise?
Answers
The payback period on the outlet is if Mr. Swanson wants a payback of four years or less then he will acquire the franchise for 3.2 years.
What do you mean by the term “simple rate of return”?The incremental net income anticipated from a potential investment opportunity, divided by the investment made in it, is the simple rate of return. To decide whether a corporation should invest in a fixed asset and any incremental change in working capital linked with the asset, the simple rate of return is employed in capital budgeting analysis. The project offers a straightforward rate of return of 8% (measured as $8,000 incremental net income / $100,000 investment), for instance, if a company can earn an incremental increase in its net income of $8,000 in exchange for a $100,000 initial investment.
Calculation:
Variable expenses:
Cost of ingredients (20% × $430,000) = $86,000
Commissions (14.0% × $430,000) = $60,200
Selling and administrative expenses:
Rent ($4,000 × 12) = $48,000
Depreciation:
$348,000 – $17,400 = $330,600
$330,600 ÷ 20 years = $16,530 per year.
2a . The formula for the simple rate of return is:
Simple rate of return =
Annual incremental net operating income upon Initial investment =
$91,470 upon $348,000 = 26.3%
2b Yes, the franchise would be acquired because it promises a rate of return in excess of 19%.
3a. The formula for the payback period is:
Payback period =
Initial investment upon Annual net cash inflow =
$40,000 upon $108,000*
= 3.2 years
*Net operating income + Depreciation = Annual net cash inflow
$91,470 + $16,530 = $108,000
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which of the following is not included in the corrective action principle
Answers
The following is not included in the corrective action principle Covering a cut with a bandage and finger cot .
What is the Corrective action principle?
Each corrective action must be documented and have a written Corrective Action Plan. Each danger and each CCP have particular corrective measures. The strategy must outline immediate corrective measures. However, monitoring processes will have different time considerations. It is crucial to remember that if a deviation occurs, all food products created since the last monitoring observation or measurement must undergo a correction step. Therefore, processes for detaining suspected product as appropriate should be included in a corrective action plan's provisions.Corrective measures are essential for avoiding the sale of dangerous goods. Every departure from a Critical Limit requires the implementation of corrective measures. Correcting the deviation's root cause and making any necessary adjustments will stop it from happening again. These steps must be taken, they must be complete, and they must be documented.To know more about corrective action principle visit:
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which function relates to maintaining inventory?
Answers
Answer:
The production department is the unit tasked with ensuring that the business has a continuous flow of merchandise inventory. As selling activities are continuous, the production unit must keep up the pace by ensuring there is sufficient inventory for the sales team to sell.
names of petroleum/oil industries in Pakistan their
budget and their locations. also the same information of some
global industries
Answers
Petroleum/Oil Industries in Pakistan: Pakistan State Oil (PSO) - Budget and locations: As a state-owned company, PSO operates throughout Pakistan and its budget varies annually.
Pakistan Oilfields Limited (POL) - Budget and locations: POL operates in various locations in Pakistan, including Khaur, Kotri, and Adhi. Its budget varies annually. Attock Petroleum Limited (APL) - Budget and locations: APL operates in multiple locations across Pakistan, including Karachi, Lahore, and Rawalpindi. Its budget varies annually. Pakistan Petroleum Limited (PPL) - Budget and locations: PPL operates in different regions of Pakistan, such as Sindh and Balochistan. Its budget varies annually.
Global Petroleum/Oil Industries: Saudi Aramco - Budget and locations: Saudi Aramco is headquartered in Dhahran, Saudi Arabia, and its budget varies annually. ExxonMobil - Budget and locations: ExxonMobil is a multinational company with operations worldwide, including locations in the United States, Europe, Africa, and Asia. Its budget varies annually.
BP (British Petroleum) - Budget and locations: BP operates in various countries, including the United Kingdom, the United States, and several locations in Europe, Asia, and Africa. Its budget varies annually.
Chevron Corporation - Budget and locations: Chevron has operations in multiple countries, including the United States, Australia, Angola, Kazakhstan, and more. Its budget varies annually.
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Airline financial data is discussed in Chapter 2. Why does airline management keep their financial date secret and only release the minimum required by company law or stock exchange rules? What events of the past 20 years have affected this? What is affecting this right now? Please include any other thoughts you may have.
Answers
Airline management often keeps their financial data secret and only releases the minimum required by company law or stock exchange rules for several reasons:
Competitive Advantage: Airlines operate in a highly competitive industry, and financial data can reveal insights into their profitability, cost structure, and overall financial health. By keeping this information private, airlines can maintain a competitive advantage and prevent their competitors from gaining too much insight into their operations.
Investor Perception: Airlines may want to control the narrative surrounding their financial performance to shape investor perception. By selectively releasing information, they can present a more favorable image to shareholders and potential investors. Disclosing unfavorable financial data could negatively impact investor confidence and the company's stock price.
Strategic Considerations: Airlines often have complex financial arrangements, including debt obligations, leasing agreements, and hedging strategies. Releasing detailed financial data could expose sensitive information that could be exploited by competitors or impact negotiations with stakeholders.
Several events in the past 20 years have influenced the level of transparency in airline financial reporting:
Global Financial Crisis (2007-2008): The financial crisis had a severe impact on the airline industry, leading to bankruptcies and financial instability. Airlines became more cautious about disclosing financial information to protect themselves from negative market reactions and maintain stakeholder confidence.
Increased Competition and Consolidation: The airline industry has witnessed increased competition, mergers, and acquisitions. To gain a competitive edge and protect sensitive financial information, airlines have become more guarded about their financial data.
Security Concerns: In recent years, the aviation industry has faced security threats, including cyberattacks. Airlines are cautious about sharing financial data to mitigate the risk of data breaches and protect sensitive information from falling into the wrong hands.
Currently, the COVID-19 pandemic has significantly impacted the airline industry, leading to unprecedented financial challenges. Airlines have faced substantial losses, reduced operations, and increased debt burdens. As a result, there may be a greater inclination to limit the disclosure of financial data to prevent negative market reactions and maintain investor confidence.
Additionally, the airline industry's regulatory landscape and reporting requirements can influence the level of transparency. Compliance with laws and regulations is a fundamental responsibility, and airlines disclose the minimum required to meet these obligations.
It's important to note that while airlines may limit public disclosure of financial data, they are still subject to various financial reporting and auditing standards. These standards ensure accountability and transparency within the industry, albeit to a lesser extent than what might be expected in other sectors.
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NEED HELP ASAP, WILL GIVE BRAINLIEST
The chart below shows a production possibility schedule for a pastry shop that makes $0.50 profit per donut and $0.75 profit per bagel. Choice __ yields the largest profit.
Answers
Answer:
its B
Explanation:
if you take how much he makes per donut and per bagel and multiply it by the quantity of each it will give you a total and you just add both the donut total and the bagel total it will give you the final profit and you do that to all of them and see which one has the most money
accounting what are variable interests in an entity and how might they provide financial control over an entity?
Answers
Variable interests in an entity are interests that change over time as a result of the actions or decisions of other parties. These interests may include equity interests, liabilities, and rights to receive payments or other distributions.
Variable interests provide financial control over an entity because they can be used to influence the entity's overall financial performance. For example, if a shareholder has a variable interest in an entity, they may be able to influence the entity's decisions, such as how much it spends on capital expenditures or how much it pays out in dividends. Similarly, creditors may be able to influence the entity's decisions if they have an obligation to the entity that is subject to change.
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Which of the following questions are appropriate to address during the financial planning process and Justify your answer with logical arguments.
Should the firm merge with a competitor?
Should additionally shares of stock be sold?
Should a particular division be sold?
Should a new product be introduced?
Answers
All of the above questions are appropriate to address during the financial planning process. The financial planning process involves assessing the financial situation of a company, evaluating its goals, and determining a course of action to achieve those goals. These questions relate to strategic decisions that can significantly impact a company's financial situation and its ability to achieve its goals.
1. Should the firm merge with a competitor?
A merger with a competitor can impact a company's financial situation in several ways, such as increasing revenue and reducing costs. However, it can also involve significant risks and expenses. Addressing this question during the financial planning process can help the company evaluate the potential benefits and drawbacks of a merger and determine whether it aligns with its goals.
2. Should additional shares of stock be sold?
Selling additional shares of stock can provide a company with funds to invest in new projects or pay off debt. However, it can also dilute existing shareholders' ownership and reduce earnings per share. Addressing this question during the financial planning process can help the company evaluate the impact of issuing new shares on its financial situation and determine whether it is the best course of action.
3. Should a particular division be sold?
Selling a particular division can generate funds and allow a company to focus on its core business areas. However, it can also impact the company's revenue and profitability. Addressing this question during the financial planning process can help the company evaluate the financial impact of selling a division and determine whether it aligns with its overall goals.
4. Should a new product be introduced?
Introducing a new product can potentially increase revenue and profitability for a company. However, it can also involve significant expenses and risks. Addressing this question during the financial planning process can help the company evaluate the financial impact of introducing a new product and determine whether it aligns with its overall goals.
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gus tutors george in economics for 3 hours, and gus values his time at $50 an hour. george is willing to pay up to $300 for a tutoring session. what is the value of consumer surplus, relative to producer surplus, if george pays only $180 for a tutoring session? instructions: enter your answer as a whole number. consumer surplus will be greater than producer surplus by $ 10 .
Answers
The consumer surplus is $120, while the producer surplus is $30. The consumer surplus is greater than the producer surplus by $90. The consumer surplus is the difference between the maximum price a consumer is willing to pay for a product or service and the actual price paid.
In this case, George is willing to pay up to $300 for a tutoring session but only pays $180. The consumer surplus can be calculated as follows:
Consumer Surplus = Maximum price willing to pay - Actual price paid
Consumer Surplus = $300 - $180
Consumer Surplus = $120
The producer surplus, on the other hand, is the difference between the actual price received by the producer and the minimum price they are willing to accept. Since Gus values his time at $50 per hour and he tutors for 3 hours, his minimum acceptable price would be:
Minimum price Gus is willing to accept = Hourly rate × Number of hours
Minimum price Gus is willing to accept = $50 × 3
Minimum price Gus is willing to accept = $150
Producer Surplus = Actual price received - Minimum price willing to accept
Producer Surplus = $180 - $150
Producer Surplus = $30
The consumer surplus is $120, while the producer surplus is $30. Therefore, the consumer surplus is greater than the producer surplus by $90.
Therefore, the consumer surplus is greater than the producer surplus by $120 - $30 = $90.
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you are a project manager for a large project-oriented organization. you are currently working on a project proposal and are considering potential stakeholders that may influence the project. which stakeholders are the most critical at this point in the project?
Answers
Stakeholder management. Early on in the project, they are perhaps the most important stakeholders. Project managers, sponsors, and portfolio managers are involved in managing stakeholders.
What examples of stakeholders are there?Any person who is interested in or impacted by the project is considered a stakeholder. The property or even the business could be considered a shareholder. Stakeholders include, among others, customers, suppliers, bondholders, suppliers, and vendors. Shareholders are considered stakeholders.
How does a stakeholder contribute?What Role Do Stakeholders Have? A stakeholder's primary duty is to contribute their knowledge and perspective to a projects in order to help the business realize its strategic objectives.
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What are some examples of companies providing consumers with goods?
Answers
Answer:
is this a multiple choice question?
Explanation:
"making planning in itself is not sufficient."what is the requirement for the business to be successful.
Answers
Answer:
organization
Explanation:
if you are organized then you will have smoother and cleaner place to work in
Answer:
Do what you think, one day you will surely succeed.
The percentage of the US labor force that is unemployed is known as the __________.
A.
consumer price index
B.
gross domestic product
C.
national unemployment rate
D.
annual percentage change
Please select the best answer from the choices provided
A
B
C
D
Answers
Answer:
Explanation:
C
Answer:
C. national unemployment rate
Explanation:
i did the quiz, hope this helps<3!!
What kind of services do banks offer their customers?
Answers
The services most often provided include a variety of checking accounts, saving accounts, certificates of deposit, and loans, including car loans and home mortgages. Additional services may include safe deposit boxes and investment-related services.
Explanation:
More accurate demand forecasting can reduce operations costs by all of the following ways EXCEPT: (Points : 3)
A. Improving quality through reducing process variance
B. Reducing the safety stock required for inventory
C. Better aggregate capacity planning for labor
D. Better detailed capacity planning for equipment
Answers
More accurate demand forecasting can reduce operations costs by all of the following ways EXCEPT: Improving quality through reducing process variance. The correct answer is option (A). Demand forecasting is a vital process for businesses, as it helps to predict customer needs and plan accordingly.
Accurate demand forecasting can help in:
B. Reducing the safety stock required for inventory: When demand is accurately predicted,, thereby decreasing inventory holding costs.
C. Better aggregate capacity planning for labor: By accurately predicting demand, businesses can plan for the right number of workers.
D. Better detailed capacity planning for equipment: Accurate demand forecasting allows businesses to optimize their equipment usage, ensuring they have the right resources in place to meet customer demand.
However, improving quality through reducing process variance is not directly related to accurate demand forecasting. Process variance reduction is more about enhancing production methods, adopting consistent quality control measures, and refining process techniques.Hence the right answer is option (A).
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______ Is a market in which a large number of suppliers compete with each other to satisfy the needs and wants of a large numbers of consumers at a competitive price.???
Answers
Answer : Monopolistic competition
Answer:
Monopolistic Competition
Explanation:
In a monopolistic competitive market, there are large numbers of sellers who do not sell identical products instead they sell differential products. They compete with each other at a competitive price. The products could be differentiated in many ways including quality, style, location and even brand name. Since they compete at a competitive price, if there is a substantial rise in the price of any of the products, the buyers could quickly shift from one product to another. The most crucial factor behind product differentiation is because of geographical factors. Under a monopolistic competitive market, the sellers do not have any influence over customer loyalty and limited control over the price.
What type of degree can you earn from a community college?
A. A Ph.D.
B. A master's degree
C. A bachelor's degree
D. An associate's degree
Answers
Answer:
associate's degree
Explanation:
most community colleges offer an associate's ddgree
Answer:
D
Hope I helped
3) Bill weighs 220 pounds and is losing 4 pounds each month. Phil weigh 250 pounds and is losing 10 pounds each month. How many months, m, will it take for Bill to weigh the same as Phil? How much will they weigh?
Answers
5 months and 200 pounds
4x5 = 20
220-20
200
10x5 = 50
250-50
200
Why are file naming conventions essential?
A. So that data entry workers do not have to learn new systems with
every new position.
B. To make it easy to copy files for backup storage.
C. So that companies can easily share files with other companies.
D. Without everyone using the same system, it would be impossible
to know locate folders or files.
Answers
Answer:
D. Without everyone using the same system, it would be impossible
to know locate folders or files.
Explanation:
A firm that uses price discrimination to enhance its net revenues will
a. charge a higher price to consumers with a more elastic demand for the firm's product.
b. charge a lower price to consumers with a more elastic demand for the firm's product.
c. expand output as long as average total costs are declining.
d. expand output as long as price exceeds average total costs.
Answers
A firm that uses price discrimination to enhance its net revenues will charge a higher price to consumers with a more elastic demand for the firm's product. The correct answer is option A.
A company can employ price discrimination to improve its net revenue by charging different prices to different groups of consumers. A company that engages in price discrimination is able to boost its net revenue by increasing its revenue per unit of sale, which allows it to boost its profits.
Prices are determined in a variety of ways by businesses. One of the most effective methods for businesses is price discrimination, which can aid in the maximization of profits. It refers to the method of selling the same product or service at different prices to different customers, which is a strategy utilized by businesses to improve their profits.
Prices differ based on how the product is sold, who it is sold to, and where it is sold. Price discrimination can be beneficial to businesses, allowing them to increase profits by charging different customers different prices depending on their willingness to pay. Price discrimination is divided into three categories: first-degree price discrimination, second-degree price discrimination, and third-degree price discrimination.
Therefore option A is correct.
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What is the dividend yield on Stock A that sells at $20/share, when Company A pays a quarterly dividend of $0.05 per share? dividend yield=[?]\% Give your answer as a percent rounded to the nearest tenth .
Answers
Answer:
The dividend yield on Stock A is 1%, rounded to the nearest tenth.
Explanation:
To calculate the dividend yield, we need to first calculate the annual dividend per share:
Annual dividend per share = Quarterly dividend per share x 4
Annual dividend per share = $0.05 x 4 = $0.20
Next, we can calculate the dividend yield:
Dividend yield = (Annual dividend per share / Stock price) x 100%
Dividend yield = ($0.20 / $20) x 100% = 1%
Therefore, the dividend yield on Stock A is 1%, rounded to the nearest tenth.
if a worker on an assembly line works faster than standard, the daily output of the line will increase. a. true b. false
Answers
True. If a worker on an assembly line works faster than the standard, the daily output of the line will likely increase.
However, this is assuming that other factors, such as the speed of other workers and the efficiency of the machinery, remain constant and do not limit the overall output.
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A fish Connor survive without water and a profession cannot exist without education. Explain
Answers
Explanation:
This is trying to tell us about the importance of "basics" in every aspect of life.
The main basics or ingredient for the survival of a fish is water.
That is it's home,it's habitat,it's cradle of life and so juxtaposing it with a profession,we find out that the basics of any and every profession is Education.
Education on that particular profession.The knowledge of a profession is gotten only through the basics, which is Education,while expertise on that profession is gotten through Education and experience garnered overtime.