Answer:
Specifications.
Explanation:
Project management can be defined as the process of designing, planning, developing, leading and execution of a project plan or activities using a set of skills, tools, knowledge, techniques and experience to achieve the set goals and objectives of creating a unique product or service. Generally, projects are considered to be temporary because they usually have a start-time and an end-time to complete, execute or implement the project plan.
The fundamentals of Project Management are considered universal across most businesses and professions.
The fundamentals of Project Management includes;
1. Project initiation
2. Project planning
3. Project execution
4. Monitoring and controlling of the project
5. Adapting and closure of project.
In project management, the written statements that define the extent and quality of work to be done are called the specifications.
Basically, the specifications of a project or manufacturing process outlines the minimum requirements and quality that are acceptable. Thus, it must be adhered to strictly in order to achieve a successful and desired outcome.
Answer:
Oct. 1, investment of $20,000 in real estate business
Dr Cash 20,000
Cr Common Stock 20,000
Oct. 3, office furniture purchased on account
Dr Office furniture 2,300
Cr Accounts payable - office furniture 2,300
Oct. 6, fees charged for real estate services
Dr Accounts receivable 3,600
Cr Fees earned 3,600
Oct 27, partial payment of accounts payable
Dr Accounts payable 850
Cr Cash 850
Oct. 30, salary paid to administrative assistant
Dr Wages and salaries expense $2,500
Cr Cash 2,500
Some of the items that should be included in a budget includes:
- Groceries.
- Housing.
- Basic utilities.
- Transportation.
- Insurance, etc.
<h3>What is a Budget?</h3>
This refers to the use of financial planning to make provisions for finance and income.
Hence, we can see that budget is made with the aim of making sound financial decisions that would keep one out of insolvency and extreme debt.
Please note that your question is incomplete so I gave you a general overview to help you get a better understanding of the concept.
Read more about budgets here:
brainly.com/question/13964173
Answer with Explanation:
<u>Requirement 1.</u>
First of all we will do SWOT analysis to develop an understanding of the company.
The Strengths of Coca Cola are as under:
- Great brand recognition worldwide
- Highly valued company worldwide
- Operational in 200 countries across the globe
- Largest market share in cold beverages
- Huge Customer Fan
- So many acquisition in last 10 years
The weaknesses of the company are as under:
- Less diversified products
- Not recommended by the doctors because of its adverse impact on health.
- Well known for its environmental issues which includes devastating effect on environment, violation of worker's rights in many countries, usage of water in different communities is so much high that it effects the local farmers.
- Aggressive competition with Pepsi has effected Coca Cola business operations and profits.
The opportunities that must be exploited by the Coca Cola company are as under:
- Diversification of products will help the company to grow its market share and improved profits.
- Specially focus on sales and marketing department in countries which are near the equator because the consumption of cold drinks here is more than countries with cold climate.
- Package beverages with environmentally friendly material to abandon single use plastic.
- Improving Supply chain management will increase benefits drawn because of its presence in almost 200 countries.
The threats that Coca Cola faces is as under:
- Environmental Issues which includes use of single use plastics, water controversy, etc.
- Raw material resourcing uncertainty
- Indirect competitions which includes thousands of Local players in different states across the globe.
<u>Requirement 2.</u>
No doubt they are the creators of the market. They set principles for aggressive marketing that was very helpful in gaining market share due to product design that encourage customer to buy, Brand design, Logo and Font, Simplicity of bottles, etc.
These factors are incorporated in each firm's decision making programs and is the reason why it enables the product acceptance by a wide majority of customers. Though the marketing strategy for every single product is different and is largely dependent on the location and availability of the product.
<u>Requirement 3.</u>
Following are some recommendations to Coca Cola Company:
- Coca Cola Company must step into food market not because it would help in managing its supply chain but it will also help in building a more diversified product ranges.
- Infrastructure development which would include franchises of Coca cola that will help it to develop McDonald's like offerings of it own that only offers Coca Cola products. This will increase the market share of Coca Cola company increase its brand recognition as well. Furthermore, it can also add value to its franchises by use of special offers that would increase its franchise sales.
- The company must resolve its environmental issues to increase its share value as nowadays Dow's and S & P adds value to market price of shares of companies that are environmental friendly.
- Marketing and distribution team of gulf countries must be given additional budget to increase their sales as their is great demand of products here.
- Coca cola must introduce health benefiting drinks that they can recommend children to taste as frequent consumption of cold drinks are not recommended by the doctors.
