Creating, Financing, and Marketing a Business Essay - 2

Creating, Financing, and Marketing a Business - Essay Example A second downfall of partnerships is that total profits are shared among the different partners of the business. Finding the right partner is imperative towards the success of a partnership. 2. Discuss funding options for small businesses. Entrepreneurs have various options to fund their business. The business structure of the company affects the alternatives of the business to raise capital. Sole proprietorship can raise capital by investing the personal wealth of the owner. The business can also obtain money by borrowing funds from the bank or other lending institution. A single owner that wants to raise more money for the business can do so by finding an equity partner. A partner can invest money in exchange for participation in the business. When a business grows the company has higher needs for capital. A business structure that is extremely effective at raising capital is public corporations. A company becomes public after undergoing an IPO process. All public companies must be registered with the Securities and Exchange Commission (SEC). Public companies can raise money by selling common stocks in the open market. Firms have to option to sell common and preferred stocks. Common stocks have voting rights, while preferred stocks do not have voting rights but they have guaranteed dividend payments. A second way for public companies to raise money is through the sale of commercial paper. Corporations can sell bonds in the open market to raise money. 3. Determine and discuss how managerial accounting can help managers with product costing, incremental analysis, and budgeting. Unlike financial accounting which focuses on providing precise, relevant and historical accounting information to stockholders, creditors and others who are outside the organization; managerial accounting focuses on providing information to managers who directly control its day to day operations. Managerial accounting helps managers perform their three essential activities: planning, dir ecting and motivating, and controlling. To plan correctly a manager will use cost accounting information to determine all the necessary materials and resources in order to manufacture and assemble a specific product. Without the specific accounting data regarding manufacturing processes, labor costs, materials, and overhead expenditures for a product line it would be very difficult for a manager to determine the real costs of production and a fair allocation of overhead costs for a specific product or service. Managers utilize cost-volume profit analysis as one of the most important tools managerial accountants have in their arsenal. It helps managers understand the interrelationship between price or costs, volume, variable unit costs, fixed costs and how the mix of products affects the overall business. CVP information can help a manager determine which products to manufacture, product costs, pricing decisions, and which specific products and what amounts to produce to include in t he product mix. Incremental analysis can also be performed by managers which will consider only those items of revenue, costs and volume directly related to the new product or service and how the overall profitability of the firm will be affected specifically by those product changes. Without the managerial accoun

Individual essay on my team experience Example | Topics and Well Written Essays - 1000 words

Individual on my team experience - Essay Example However, considering the team’s organisation, delegation of duties and communication, Person B can be said to be the team leader. Her leadership traits emerged in the first group meeting, where she coordinated the activities and played the lead role in setting the team’s goals and objectives. Person B ensured that every team member participated in the all the team’s activities and ascertained that we all knew our roles and contributions to the team. She set the team’s activities in motion, facilitated communication within the team and helped in defining clear goals for the team.3 Even though all the team members were equals, she had a certain influence on the group that helped to set the team’s activities in motion. She was leading a group of peers and successfully maintained influence on us without leading into disagreements. This paper will discuss some of the leadership traits and skills that Person B possessed and the manner in which they influenced the whole team. It is difficult to manage a diverse team, especially one that is composed of individuals who bear equal authority. This means that a single individual cannot domineer or assert authority over the others.4 However, one individual can rise above the rest and influence the others by motivating them, facilitating activities, encouraging the team members, enhancing effective communication and maintaining trust, therefore, playing a leadership role in the team. 5 This was the case with our MG100 team. Person B showed leadership skills and helped the team to achieve its goals. We were all held accountable for the team’s performance, meaning that she was not responsible for the team’s output. As team members, we did not report to her but she facilitated the group’s activities because she had great organisational skills, which allowed every team member to trust her with the leadership role.6 We did not conduct a formal selection to instil her as our leader, but the value