Tesla roadster - Essay Example

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It considers that decisions have different results. It shows that the decisions made have to do with know ledge. But it also has to do with skill or judgment of the operational environment. It is similar to…
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Download file to see previous pages These resources are brought together under leadership. This activity all operates under the constraints of time.
There are agreed upon rules for the orderly functioning of society. These rules are enforceable. An example is the inventory that is gasoline. There must be rules for safety. Different jurisdictions will have somewhat different guidelines. The end result will be the same. A thing is never responsible for an action or in action. This reality of action is at the heart of the benefits and responsibilities of ownership.
This law aspect sets the parameters for all that will follow in the decision making process. This gives the choice of having a proprietorship or partnership. Or we may choose to have a corporation. The corporation may be public or it may be private. This legal arrangement sets the tone for the inflow of finance and economics. Finance is the glue that makes business possible.
This area deals with the management of funds. Inventory results in the use of funds to acquire it. In finance there is the added requirement of insurance. This is a protection of funds in the event of loss.
This area deals with the management of scarce resources. There are limited human resources. There is limited funds and space. The products for sale are limited. Of course there is a time limit. The business has to operate with a view to accounting periods. The inventory itself is a scarce resource.
There are many approaches. One of them is to consider the flow of money as made up of four parts. There is the flow to land as rent, then the flow to labor as wages, next is the flow to capital as interest and finally the flow to entrepreneurship as profits.
Another approach is to consider the business activities with five segments. There is finance, marketing, production, labor and research and development. This is a popular and in many cases very helpful when considering business activity. ...Download file to see next pagesRead More
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