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hoa [83]
3 years ago
15

Summit Software, Inc., recently celebrated its fifth year of business. Jim Mueller, the proprietor, started the software manufac

turing and distribution company when he was still working as a professor at the local college, but now he enjoys being in the fast-paced technology industry. Growth and expansion were easy for Jim, thanks to his knowledge, his contacts, and the pool of readily available workers from which to choose. The company that originated in his den now occupies a nice space close to downtown.
Going into the sixth year, Jim continues to serve the same target market with customer support and lengthy projects. He acknowledges that technological advancements and new clientele are in the immediate future. All of the current and forecasted work leaves Jim and his three employees with little time to spend on administrative duties—let alone new accounts. Jim also realizes that the company needs its own upgrades to continue its rate of success and to stay competitive. Looking at Summit’s financials and the amount of work necessary to maintain the business, he’s not sure where to go from here. Following is a snapshot of Jim’s annual sales since inception:

Year 1 $112,000

Year 2 $195,000

Year 3 $250,000

Year 4 $335,000

Year 5 $487,000

QUESTIONS

1. Is Summit Software a gazelle? Support your answer.

2. What problems may Jim face by owning such a fast-growing business?

3. Are gazelles more important to the economy than traditional growth businesses? Why or why not?
Business
1 answer:
kirill115 [55]3 years ago
7 0

Answer:Q1. Is Summit software is gazelle? Support your answer.

Ans.  .Gazelle define as  a gazelle company is a high-growth company that has been increasing its revenues by at least 20% annually for four years or more, starting from a revenue base of at least $1 million. Yes from this definition, we can say that this software is gazelle.

Q2.What problems may Jim face by owning such a fast-growing business?

Ans. Faces problems that the As the business grows rapidly, there would be more expectations from the customers. They would expect for change and more innovation in their products. Mr. JM has only three employees and they are burdened with heavy load of work.

The competition arises between firms. Some might be healthy and some might be unhealthy. Unhealthy competition may lead Mr. JM to go in a wrong path.

Q3. Are gazelle more important to the economy that traditional growth business?why or why not?

Ans. Gazelles are vital for the growth of the economy as the country is being benefitted by the profit received by gazelles. Gazelles grow rapidly and hence the economy of the country grows rapidly. Traditional growths in businesses are very slow but they also bring steady profit for the country at a lower and standard level.

Explanation:

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olga_2 [115]

Because Adults may replace products from children who can buy cheaply.

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In third-degree price discrimination, different consumer groups charge different prices for the same product. These consumer groups can be identified based on certain characteristics such as age, gender, location and time of use.

Third-class monopoly price discrimination means that monopolists charge different prices for the same product in different markets because the price elasticities of demand differ. Quite common in the market.

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6 0
2 years ago
A company is targeting its marketing by running an advertising campaign showing a hmong family celebrating its traditions during
salantis [7]

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6 0
2 years ago
Many consumers consider goods X and Y to be complements. If there is an increase in the price of good X, then (all else the same
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Answer:

False

Explanation:

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If the price of good X increases, producers would increase their supply of good Y and X.

An increase in supply shifts the supply curve to the right.

I hope my answer helps you

5 0
3 years ago
2. The Basics of Business Writing Writing in a business environment differs from other types of writing. In professional setting
frutty [35]

Answer:

Fast Facts: Basic Business Writing Goals

 Convey Information: Forms of business communication, such as research reports or policy memos, are written to disseminate knowledge.

 Deliver News: Professional writing is often used to share recent events and accomplishments with both internal and external audiences.

 Call to Action: Business professionals use writing in an attempt to influence others for numerous reasons including selling merchandise and passing legislature.

 Explain or Justify an Action: Professional communication allows a business entity to explain their beliefs or to justify their actions.

1. Instructional Business Writing

Instructional business writing provides the reader with the information needed to complete a task. The task may need be accomplished immediately or it may be for future reference.

This type of document must break down a process into steps that are understandable to the reader. The written record must account for reader’s knowledge of the area, the scope of the task while integrating variations or potential problems.

Examples:

 User Manual: a guide focused on allowing the customer to use a product. Effective user manuals are crucial to a good user experience and a happy customer. User manuals are often considered part of technical writing, which is closely related to business writing.

 Specifications: a technical document which provides an outline of a product or process that allows it be constructed or reconstructed by an unfamiliar but knowledgeable user, enabling effective distribution.

 Memo: a short notification of new information shared within a large group in an organization. The memo may include a direct instruction or be a reference on how to complete future tasks.

2. Informational Business Writing

Not all business writing requires action. A large volume of writing is created for reference or record. This category can include some of the less glamorous but still essential documents.

Recording business information accurately and consistently is important for marking progress, predicting future work, as well as complying with legal and contractual obligations.

 Report: perhaps the bulk of informational writing is report writing. Organizations rely on reports to act, to communicate business and technical information, to capture work completed, to record incidents, to finalize projects and recommendations, and to act as an archive. A well written report allows the reader to easily grasp the content and, if applicable, make informed decisions.

 Financials: documents that outline the financial state of a company. These statements provide a fiscal snapshot of a company over a defined period.

 Minutes: a summary of the proceedings of a meeting. A record of discussions, decisions, and assignments for attendees and others.

3. Persuasive Business Writing

When people think of business writing, they often think of the persuasive writing category. These documents are generally associated with sales. The persuasive writing may be direct, with focus on a specific item, or indirect, with focus on developing the client relationship.

The goal is to two-fold: to convey information and to convince the reader that the presented information offers the best value. The text is written to impress the reader and sway their decision.

 Proposals: these documents outline an offer of a product or service to a specific potential client. The proposal generally presents project overview, benefits, timeline, costs, and competency.

 Sales Email: an email written to a large number of people to pitch a product or service.

 Press Release: a text written for journalists and media presenting new information. The text aims to persuade the reader to share the content through their own channels

4. Transactional Business Writing

Everyday communication falls under transactional business writing. The majority of this writing is by email, but also includes official letters, forms, and invoices. An easy way to quickly improve your transactional business writing is to take an online course.  

These documents are used to progress general operations. They are also used to convey good and bad news, often associated with human resource processes.

 Emails: documents used to quickly communicate information between staff or clients in business activities. Read our guide on how to write a business email here.

 Dismissal notice: this letter provides the official context and procedural details associated with employment termination.

Each business document falls into one of these four categories. By determining the category, you will better understand your document’s goal. This insight will improve your writing.

Explanation:

5 0
3 years ago
Using a computerized Inventory Management System, a Paint Supply Store franchise continuously monitors the inventory of all the
KonstantinChe [14]

Answer:

A. $348.29

Explanation:

Given that:

The Paint Supply Store franchise sells an average of 30 gallons of Red Paint every week (for 52 weeks per year)

i.e weekly demand = 30 gallons

Since 30 gallons is demanded weekly

Then annual demand for a year that contains 52 weeks = 30 × 52

= 1560

Order quantity = 70 gallons

Thus; number of orders = annual demand for a year / order quantity

number of orders = 1560 /70

number of orders = 22.2857

Price per gallon = $2.00

Time to receive order = 1.25 weeks

Administrative cost Ordering paint (i.e ordering cost per order) = $15

The total Ordering cost per order = number of orders × ordering cost per order

The total Ordering cost per order =  22.2857 × 15

The total Ordering cost per order =  $334.2855

Holding cost = 20% of the purchase price per gallon per year

Holding cost = 20/100 × $2

Holding cost =  0.2 × $2

Holding cost = $0.4 per unit per year

∴

The Inventory Holding cost = ( order quantity /2 ) × holding cost

The Inventory Holding cost =  (70/2) × 0.4

The Inventory Holding cost = 35  × 0.4

The Inventory Holding cost = $14

Finally, Total Annual Inventory Cost for the company's current policy is :

Total Annual Inventory Cost  = Total Ordering cost per order + Inventory Holding cost

Total Annual Inventory Cost  =  $334.2855 + $14

Total Annual Inventory Cost = $348.2855

Total Annual Inventory Cost ≅ $348.29

5 0
3 years ago
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