Iva Stigmatism’s business, North/South Eyeland Specs has many strengths, weaknesses, opportunities and threats from both the internal and external environment. In the beginning Iva saw an opportunity to break into a market that he viewed as having weaknesses within its management levels. Although the company in question was not going to be in direct competition with Iva’s, the opportunity to start a new business was there. The loophole Iva found that allowed a medical practitioner to test eyes and hand out prescriptions was a definite opportunity, as it meant Iva was able to conduct his business without an optometrist. This would otherwise have created a weakness, as there are not very many optometrists in training.
One of the main threats to Iva and his newly formed business was the competition from around 350 other practising optometrists in New Zealand. Iva needed an edge that would make customers change to North/South Eyeland Specs and he came up with several strengths that achieved this aim.
First of all Iva expanded his business and set up an on-site glazing machine at their Victoria Street location. This meant that all the work for peoples’ lenses could be done within Iva’s own company, which eliminated external costs and time. Iva created another strength for his company by developing more branches of his business outside of Auckland. This was a wise strategy, because Iva could then target more than just the Auckland market. This created a significant advantage, since many overseas competitors were looking to move into the New Zealand market and Iva believed that Auckland would be the most likely first location for these major competitor’s businesses. Read more…
Key business functions: the firm offers accounting and Taxation services together with finacial planning. The firm Ronald smith and co needs to generate approximately $750 a day to cover the expenses like electricity, wages, loans and other business effecting costs. One of the most important is Internet connection without this the business cannot lodge tax returns, Business activity statement (bas). You need to keep up the payments or your Internet is cut off until you pay it off. It’s has an affect on the technology you use because if the technology is not up to standard it can slow your business down. In the year of 1997, which to some people that was not along time ago, they only had a modem of 36 k which is very slow in today’s standards.
My firm’s way of generating money is through providing accounting srevises and preparing tax returns, while you pay 10% extra on everything for GST reasons, my firm finds things that you didn’t need to pay the extra for so all of those that you did not need to pay the extra for builds up and you have a refund. Because the government tries to get the most from the public’s payments, chartered accountants just find ways to penetrate through the laws affecting taxpayers. Read more…
Chile is one of the Latin American regions most dynamic and promising markets. This is not only due to its size and population but in the transparency in its regulations and the predictability of its decision-makers. The Chilean government ha a welcoming attitude towards foreign investors. The Santiago stock market is dynamic and has attracted substantial international investment, which has been made possible by an effective regulatory system. An increasingly diversified economy and strengthening ties with supliers and buyers in Europe, Asia , and the Americas has given Chile a wider range of options for further growth and prosperity. Also Chiles policy-making has secured long-term stability, unlike other Latin American countries. Chile enjoys both budget and balance of payments surpluses, and has sufficient funding to finance growth, it has the highest rate of internal savings in the Western Hemisphere, almost 24 percent. In 1990 Chile emerged form seventeen years of military government, there is still occasional friction in otherwise good civil-military relations, allowing Chile a smooth transition to democracy.
Chile has a promising market for high technology and infrastructure-type products. Including electricity generation, pollution control equipment, telecommunications equipment, computers and peripherals, mining and construction industry equipment, building materials, medical equipment, port equipment, air conditioning and refrigeration equipment, and security equipment. There are also great opportunities in consumer products and services such as tourism. Read more…
Good morning/afternoon I am here to talk about the business life cycle. The business life cycle refers to the stages and growth a business can experience. An owner of a business must be able to asses the businesses position on the business life cycle in order to develop strategies to deal with business expansions and business problems. But this can be difficult for two reasons. One change is gradual and it is hard to notice and two the owner may be to involved with the business to observe objectively. Also the owner may be emotionally tied up , they may just lack basic skills or may just be too busy.
There are four phases that a business may go through establishment, growth, maturity and post maturity. In the business life cycle there is no set time limit for the phases.
Establishment- This is the start up of the business. The main concern is to get the business onto a solid foundation and to generate enough income to cover expenses and to generate a cash flow. The main goal is survival.
The next is growth or “take off”. This is the time of accelerating growth. The sales rise and the cash flow is positive. The main goal in this stage is sales. Family members can take on roles in the business and the business can develop a good reputation. This growth can lead to complexity, responsibility and the need for long term planning. Business growth and expansion can occur in different ways. Read more…
A very important and influential aspect of business is the way in which various enterprises execute their moral beliefs and incorporate them into their specific industry. The philosophical reflection upon this particular aspect of business is known as ethics, which has become an increasingly integral focus of society due to its recently discovered value. Since business is a commercial or industrial enterprise engaged in as a means of livelihood, strong ethics is especially vital because it is the conscious reflection on the integrity, credibility, and trustworthiness of that which is being assessed. Due to the highly competitive nature of today’s market, companies must maintain high moral integrity in order to survive especially since strength in ethical values have such a drastic effect on consumer ratings, which will inevitably effect reputation and business. In order for a company to remain successful, it must recognize its faults and improve on them constantly. When contemplating ethics in business, focus is placed upon; key issues that arise which must be recognized in business, the benefits of strong ethics compared to the consequences of ethical misdeeds, and perspectives of ethics in business in the form of benchmark figures.
The major concerns that arise in business are related to the effectiveness of compliance policies and the influence of the management, the ultimate focus of the company and its relation to ethics, and the relationship of employee loyalty and ethics. Compliance policies refers to the established standard of ethical conduct that employees within a company must always follow. Effective compliance policies maintain a level of ethicality that employees must meet in all aspects of their business, and the reason why these compliance policies are effective is due to their enforcement and the importance placed upon them by the management (Institute of Business Ethics 4). Read more…
