Intro To Business Management Exam - Assignment Example

Also, a lot of opportunities emerge in the recession or in the times of economic depression. The opportunities revolve around sale of existing businesses at considerably lower rates which makes them easy to be acquired. Also, various physical asset, which are considered highly important for a startup venture are available at relatively cheap prices and high rate of discounts (Gordon, p. xiii). Also, during various recessionary times as well as in the times of economic boom, government funding agencies, venture capitalists and private lenders share a bias to promote various entrepreneurship ventures which have the ability to promote radical or incremental innovation in its product or service offerings, thereby generating and adding value to the clients and customers.

Hence while proposing an entrepreneurship venture for the purpose of funding; the focus will be on the innovativeness of the product offering as well as the amount of value that can be generated for the target audience. The main focus of the presentation will be the unique selling proposition of the offering. The conversation will rotate around the factors of minimum initial investment, the demand forecasting, estimated sales forecast, the breakeven period, and the intended targeted market share.

The cash flow cycle for the new venture will also be brought into highlight in this case. 2. Ethics in the workplace is a very important factor in the case of a new startup manufacturing firm. The following ethical practices should be practiced in the firm (Trevino & Nelson, p. 219): Worker Safety High priority will be given at all times to ensure safety of the consumers at the work place. Product Quality The employees of the company should comply and cooperate with the stringent processes and measures regarding quality check that have to be followed at all times in order to produce high quality products.

Labor Relations The workers have to follow the various rules and regulations that are laid down by the company management in order to address the issues related to labor relations. The workers are to be informed that the management follows an open door policy for the purpose of addressing the problems of the employees. Intolerance to Harassment The company does not tolerate any harassment or discrimination on the basis of age, gender, beliefs, and religions. The company also has stringent policies to address issues related to harassment on the basis of racism.

Corruption The company has strict policies including the ultimate termination of the service contract in order to deal with corrupt practices at the workplace, that are practiced by the employees on a individual or a collective manner either within or with people outside the physical boundaries of the organization. 3. The process of business planning is a very important factor in the part of designing a strategy as it helps in smooth running of the business operations in the long term. It ensures the fact that the company is moving ahead with proper goals while having proper synchronization of the business processes with regards to the current market conditions (Reading, p.7). The business planning helps in determining the future goals of the company.

This helps in identifying the amount of resources that is required in the production processes in order to produce the desired amount of inventory that is necessary to meet the forecasted demanded.