Sample Business Essay

Personally I had a very displeasant experience doing business with Men's Warehouse. For our wedding I decided to rent the men's attire from the company, which led to more headache than anything. The day that went in to the store and put our order in, I was a little concerned with how everything was going to work out. This was due to the staff getting the date confused multiple times, incorrect the colors, as well as the attire itself, and payment. We stated multiple times that we would be paying for the entire rental, and did not want anybody in the wedding to pay for anything. To start the spiral of disaster, I received a confirmation with the incorrect date, which lead to me callingcustomer support to get this fixed. Then the wedding...show more content...

The matter of which a business's implements customer service has much more effect on the bottom–line that one may think. According to Johnson (2015) a Harvard Business Review study recently quantified the value of the customer experience, demonstrating that delivering excellent support generates high returns. With that being said staff need to be adequately trained on quickly resolving customer problems that may arise. Staff also needs to be made aware of exactly how customer service affects overall profitability for the company. The study came to conclude the top five affects in relation to customer service and the bottom–line. First the study shows that satisfied customers are much more likely to spend more money. Johnson (2015) states the Harvard Business Review study shows that customers who said their experience met or exceeded their expectations spent approximately 140% more than customer who reported a negative experience. Second customers who are dissatisfied actually end up costing the company money by returning products, and exhausting their time with supporting company staff. Third a happy customer tends to be a repeat customer for years to come, leading to an increase in revenue for the company. According to Johnson (2015) the Harvard study shows that members who report high levels of satisfaction have a 74% chance of still being a customer a year later while only 43% who rate

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The business world today is competitive. It's full of fierce, educated, and motivated people. For some people it's tough to rise to the top and for some people it comes much easier. It's not always about hard work! One might ask for a map to the yellow brick road, but few people are ever provided with it. Most people are stuck in an ocean making calculated guesses as to how they can reach land. Which route is the best? How much school is enough? How many certificates of accreditation is enough? How much work experience is enough? All of us ask these questions attempting to navigate our ships in a competitive world were only a few individuals ever get to their targeted career position. How many of those in leadership positions are women?...show more content...

They're looking for direction from their top leadership. When we speak of top management the first thing that comes to mind is the CEO. If you had to quickly name three CEO's off the top of your head who would they be? I'm sure many of you would have said Bill Gates, Steve Jobs, or Michael Dell. There is an un–shocking statistic that the vast majority of people who hold top management positions are men. Even for the average Joe it would be difficult to become a CEO of a billion dollar company. There are many more weeds women need to cut through to reach the top of their respective fields. The list of challenges that women face are exponential. The following are what many would believe to be the top three challenges. Women have faceddiscrimination towards their gender, their ability to be assertive, and some people say women don't have the ability to take their employees to the next level. Being discriminated against for being a woman is the most obvious challenge. If you think about the history of our country; it has only been about 90 years since women got the right to vote in 1920. In light of the election that just past I'm sure some of us still take those rights for granted. It has been an uphill battle for women seeking equal treatment to men in the work place. Yet there is still gender discrimination apparent in today's workforce.

The people in the United States as well as many other countries Get more content

Essay Question 2: In reviewing the last five years, describe a situation in which you felt particularly effective as a member of team. (Limit 500 words)

Picture an environment in which a 14 to 16 work day was the norm rather than the exception and where working through the night was as common as weekly status meetings. These were the realities of a Deloitte Consulting engagement I had worked on at Deutsche Bank. My first roll was to be part of the testing team. Since the system was to "go live" in 3 months the pressure was on to ensure that all the bugs in the system would be found and fixed. This put considerable stress on the team. The team didn't have enough time to give me an overview of the project. They basically gave me the...show more content...

I put in extra effort to learn the system, even on my own personal time. Within 2 weeks I was up to speed and able to assist my team in testing. The testing team would work long hours due to the tight deadlines, and it was common for management to ask us to stay longer with little notice. I did not, however, let this affect my attitude towards the team. I understood that since this kind of system had never been built before, project time estimations would be inevitably off. I also helped the team when new team members joined. I knew how hard it was for me to learn the system by myself, and I was good at communicating technical material in a manner that non technical people understood, so I took the initiate to get them up to speed. This was necessary since other team members were busy and did not have the time to sit down with new team members. As the project progressed I was put on the operations team. The operations team was responsible for monitoring the system when trades would be sent. The team had to be able to understand how the whole system works. To accomplish this I had to put in a great effort to learn the whole system. Moreover, the system needed 24 hour support. The operations team was required to work in shifts to accomplish this task. The shifts occurred in 12 hour time frames but usually lasted up to 16 hours. The start times of the shifts would change due to changing business needs, and every week

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An Introduction to Business

Business plays a major role within our society. It is a creative and competitive activity that continuously contributes to the shaping of our society. By satisfying the needs and wants people cannot satisfy themselves, businesses improve the quality of life for people and create a higher standard of living.

It is a way for individuals to provide goods and services to consumers, and at the same time, produce a profit for themselves. Businesses are not only important because they provide goods and services for consumers, but they also improve the economy and increase jobs for people within society which is an additional fact producing a higher standard of living. To measure our societies standard of...show more content... International trade deficits occur when a nation imports more then it exports. The Decline of Smokestack America is when there is a change from an industrial to a post–industrial economy. Finally, the conservation of energy is so that there are a sufficient amount of natural resources necessary to produce goods. General economic growth or stagnation also has an important influence on business within our society. Many factors can affect it's condition, such as war, new inventions and technology, political assassinations, the discovery of physical and natural resources, labor negotiations, government action, and many others. When the economy is strong and the demand is high, businesses can prosper. Regardless of how great the economy may become, businesses still must compete with other firms for scarce raw materials and labor.

A businesses environment creates many opportunities as well as problems for prospering businesses. The environment determines what a business can do by shaping and channeling its development. Businesses function within an environment by allowing entrepreneurs to raise capital and create profits freely. The supply of money available within a business as well as the economic stability through times of growth and recession have strong effects on businesses. Not only is the physical environment, including natural resources, pollution and energy as discussed previously, important, but many other

HND in Business and Finance Unit Name: Business Strategy – 7 Assessors: Egya Gyamfi Student: Sulaiman Adebakin Introduction In this part of the assignment I will be defining and explaining mission, vision, objective, goals & core competencies, I will also be distinguishing the difference between each point and the role they play in the operation of a business, I will be reviewing the issues involved in strategic planning and explain the different planning techniques. 1.1 Explain strategic contexts and terminology– Missions Visions Objectives, Goals, Core competences About Walkers Walker is a British snack food manufacturer operating in the United Kingdom and Ireland and to a lesser extent on the European...show more content...

There are many different types of objectives such as long–term and short term objectives. Long–term objectives focus on the desired performance and results of the organization on an on–going basis. An example of a long term objective setting out customer service goals by doing this you will be able to make sure that your organization aims to receive positive customer service feedback. Short–term objectives are concerned with short–term performance targets that the organisation is working towards in pursuing its strategies. Short–term objectives tend to last up to six months or a year. Core competence The core competences of an organisation are the things that the organisation is particularly good at, that is, the resources, processes and skills which give it a competitive advantage. It is very important to identify and build on these core competences because they are what enable them to stand out from other organisations. Apple being one of the most well–known brands will mean that customers will have high expectations on their products. Apple having distinctive features on their mobile phones (IPhone) will enable them to have a competitive advantage on their competitors. A competitive advantage is an advantage over competitors gained by offering consumers greater value, either by means of lower prices or by providing greater benefits and service that justifies higher prices. 1.2 Review the issues involved in strategic

Business Development Essay

Business Development

Career Overview:

Business developmentВ or "biz dev," as insiders call itВ is all about growing your company's bottom line. The job of the business development professional is typically to identify new business opportunitiesВ whether that means new markets, new partnerships with other businesses, new ways to reach existing markets, or new product or service offerings to better meet the needs of existing marketsВ and then to go out and exploit those opportunities to bring in more revenue.

Business development is a cousin of marketing and sales, and even when an organization doesn't have a stand–alone business development department, or professionals with the phrase "business development" in their job titles, you can...show more content...

Next, as a business development professional, you'll need to think creatively on everything you know about your company, its market, and its competitive landscape. This is the part of the job where you identify possible ways to improve your company's sales, which can mean anything from identifying new market segments (or individual potential clients) for your company to sell to, to identifying new sales channels to sell through, to identifying other, related products or services in the marketplace with which your company's products or services can be combined into synergistic, new, "co–branded" offerings.

The next part of the job is prioritizing the new business opportunities you've identified. To do this, you'll need to compare the potential returns of each new business opportunity to the costs your company would incur to exploit that opportunity. Which means spreadsheetsВ lots of spreadsheets.

Finally, the business development professional is tasked with making the new business opportunities he or she has identified come to fruition. In other words, you'll be negotiating with those at other organizations who can help you take advantage of the opportunities you've identified. And, if you're good at what you do, you'll be closing deals with those other organizations to increase your company's bottom line.

In terms of real–world examples: One thing you'll probably be doing as part of a business

A SAMPLE BUSINESS PLANYour Business, Inc.A well–written business plan is a crucial ingredient in preparing for business success. Without a sound business plan, a firm merely drifts along without any real direction. Yet, entrepreneurs, who tend to be people of action, too often jump right into a business venture without taking time to prepare a written plan outlining the essence of the business.You should begin by writing down the answer to the very basic question, "What business am I in?" This may sound elementary, but answering this question with thought and consideration will help you focus on the major purpose of the business, which leads to establishing goals and objectives. In turn, these...show more content...

Mr. lsiah M. Gradient113 Broughton RoadHamilton, New York 13346(315) 555–6871.Work experience:1976–PresentQuadrant Surveying & Engineering Co., Hamilton, New York. Managing partner. Supervises internal managerial operations, including financial, accounting, personnel, and planning duties.1971–1975New York Department of Health & Sanitation, Albany, New York. District Maintenance Engineer. Designed water and sewage projects for cities. Supervised staff of twelve.1966–1970Hi–tech Survey Co., Albany, New York Technician. Worked part –time as field crew member performed various surveying duties.Education:University of Virginia, Charlottesville, Virginia. Master of Business Administration. GPR of 40/4.0.1975–19761966–1970Clemson University, Clemson, South Carolina. Bachelor of Science degree, in Civil Engineering.References:Mr. John MolooneyDr. Fred TargetAssistant Vice PresidentProfessor of EngineeringCon–EdisonRensselaer Polytechnical InstituteNew York, New York 10014Troy, New York 12181(212) 555 –2268(518) 555–3196Mr. Sam HoughCertified Public AccountantCharlottesville, Virginia 22201(804) Get

Discuss and provide examples of the changing factors that will influence business in the future (e.g., new investment techniques, new forms of communication, new management structure, new technology, or new marketing techniques). Select 2 of the 5 identified factors and explain in detail the factor that was chosen and provide an example.

New marketing techniques

Green marketing is very important as the problems of environmental protection are essential for all countries all over the world nowadays. The recent researches give us evidences that anxiety concerning nature pollution is increasing. The ecological security became primary for consumers. Thus, it is high time to reconsider the understanding the nature as our habitat as well as...show more content...

In summing up, all these elements are important and require serious consideration before being executed (Pakroo, 22–26). The business plan of the company development should include all these elements, because they will help building a working model of the business. Review any additional ideas that you may have about how future business will work.

In fact, the core of any business plan is based on a specific type of business (Timmons et al. 2004). This model shows how business creates profitability and success in the market. Four factors determine correctly created a business model. Here are four factors that determine a wisely created business model:

1. money;

2. definition of time;

3. competitive advantage;

4. basic skills. Firstly, it is important to think about the source of profitability. At this stage of business development, it is important to define whether the company will offer the products, services or both. Today the ecological problem is very important in any sphere of our life and the existing data of the problems of environmental protection showed that it is essential of nowadays research. The ecological problems become primary in the minds of consumers. Green marketing is a structural element of management of branch manufacture, can be realized on the basis of linear system when ecological problems are integrated into already existing organizational structure on the basis of expansion of duties of all levels of

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1. The most significant challenge to business success you see in this rapidly changing global economy;

One significant challenge to business success in this rapidly changing global economy is that many business are focused on efficiency and economic of scales. Just like the example provided by Michael H. Hugo on Chapter 1, many companies are focused on lowering operating cost as much as possible. This is causing for executives not leave any room for unpredicted changes limiting the company's ability to respond to customer's changing needs.

2. An organization that has been successful in the global marketplace using virtual teams and the best practices it used (as discussed in Chapter 7 of Business Agility: A Sustainable...show more content... While this is a practice enforced throughout the company, it was necessary to make sure that this communications were clear to the virtual team in order to maintain morale and the team's trust in the company.

3. How the Marketplace simulation incorporates these challenges into simulation game play;

The Marketplace simulation incorporates these challenges by providing student with real–world business problems and roles. Team members are challenged to make decisions and used critical thinking in order to solve this problems virtually. While The Marketplace gives the team the tolls necessary to have effective communication, ultimately each team members contributes to the overall success of the team, just like in a real business situation.

4. How your readings and individual self–assessment work provide potential solutions to these challenges. The unit's readings have provided many solutions to the challenges businesses encounter nowadays. To this day, there are many companies that have business plans that concentrate strictly in lowering operating cost, cut budgets as much as possible and overwork workers that already are overworked.

Some of this solutions include: * Thinking of the costumer's needs and being able to respond to their ever changing needs * Management needs to

be transparent and make sure to communicate with employees, especially when the organizations is making Get

Starting and Running a Business Despite being an intimidating prospect for most people, there are millions of entrepreneurs in the US. Some of them turn out to be very successful, others, not so much. There are many steps to starting and running a business, but many of them can be easily accomplished simply by filling out some forms, and several small fees. Businesses have been around since the beginning of bartering, an apple for some wheat, a horse for a wife, a daughter for a house. (In no way reflecting what I would trade) The startups of businesses across time have never come easy, from cost, to hassle, to threat of beheading; there have always been obstacles in starting abusiness. One of the hardest parts of being an...show more content...

This is ideal for most people who want to start a business and keep their home if something goes wrong. The largest area a permit is good for is one county. If one wishes to operate outside the county the license was issued in, they would have to get a license from that specific county. The most important thing is starting a business is having a business plan. This is the only way any bank will approve you for a business loan.

Without this business plan, the bank has no way to analyze the business's performance thus far. The SBA offers a template for how to lay out a business plan. The following is how a good business template should be formatted (from SBA.gov).

Writing the Plan

What goes in a business plan? The body can be divided into four distinct sections:

1) Description of the business

2) Marketing

3) Finances

4) Management

Agenda should include an executive summary, supporting documents, and financial projections. Although there is no single formula for developing a business plan, some elements are common to all business plans. They are summarized in the following outline:

Elements of a Business Plan

1. Cover sheet

3. Statement of purpose

4. Table of contents

My Business Idea

In my coursework I intend to start my own business. I will devise my own business plan which outlines my business proposal and the key aspects, during this I will need to seek good business advice on the necessary steps I will have to make. As I go through the coursework I will show evidence, examples and explain how businesses are set up, what types of businesses there are and their similarities, the kind of targets businesses set for themselves and also the different objectives of different stakeholders. For my business I plan to sell toys and other game products that educate young children under the age of 11.

Starting up a business is difficult and risky. Anyone setting up needs to consider:

В·...show more content...

Most people though have to research their product. Businesses also have to decide how the product is to be made.

Finance

No businesses can be set up without finance. Most people who start their own business underestimate the amount of money they will need to set up. They are often UNCAPITALISED and this causes problems as the business expands. Some businesses have the potential to be highly profitable but fail because they run out of cash at a crucial early stage in the life of the business. So it is very important to work out how much money is needed to start the business and to identify where the money will come from.

Identifying the sources of help

Most new businesses don not survive for more than three years of trading. However, their chance of success is much greater if those setting up the business have received help from experts before the launch. Many new businesses turn to Business Link or to their local TEC. They can identify any grants, loans or benefits that are available from government or from bodies like the Prince's Trust. They can also organise training in setting up small businesses that is so often vital to the survival of the business.

Drawing up a business plan is very important. The business plan sets out how the business is to be set up and Get

Interview with Business Owner Essay examples

Nilima Rawal

BMGT110

University of Maryland University College

September 23, 2012

Abstract

For my interview I decided to choose the owner of 6 different Subway Restaurants in Maryland. It was an honor to interview my friend "Mr. Sharad Doshi". He has been in this industry for past five years. I chose him because he has been an inspiration to everyone. Looking at his accomplishments, makes us feel very proud and I knew for sure, for me, the best person to interview would be him.

Subway is an American Restaurant Franchise that primarily sells Sandwiches (Subs) and Salads. It is owned and operated by Doctor's Associates, Inc. (DAI). Subway is one of the fastest growing...show more content...

This year Subway owners collected $330,000.00 and donated to American Diabetic Association to prevent and educate people about Diabetes (Subway.com)

He says I strongly believe that my store has a positive impact on the economy. Since the economy is in recession, people don't want to spend lot of money on expensive restaurants. As mentioned earlier, subway provides healthy meal options at a very affordable price to the people. We started offering $5 foot long subs in order for our customers to get healthy food at a very low cost. People can eat fast food and lose weight. Our classic example is of Jared, who lost 180 pounds just by eating Subways' healthy sandwiches. According to the Subway official website, Subway has impacted the environmental issue by switching to napkins that use 100% recycled materials, of which 60% is post–consumer recyclable material. Recycled material can include material such as wood chips; while post–consumer recycled material is paper that has already been used by consumers. Subway estimates it will save about 147,000 trees a year. The company also switched to cutlery and plastic drinking cups made of polypropylene instead of polystyrene, which it estimates will save 13,000 barrels of oil annually. Subway sandwiches are extremely popular

in different parts of the world and in some places, it has reached

When brainstorming to start a business, it is essential to research the most efficient way to start a company and all the liabilities that can happen. Business can become successful with the right person in place and a unique idea. When making a company, it is crucial to determine the structure, which organization to start with and the liability that is involved. When taking a closer look at five different company structures Sole Proprietorship, General Partnership, Limited Partnership, S/C Corporation, and Limited Liability. Which have not honored the contract and are at risk for legal actions. The various liabilities between each owner will be discussed. Which will analyze ways to limit liability and display my future business...show more content...

Now, A partnership is formed between two individuals and the agreement should be in a contract form or writing. The next two types that are discussed are general partnership and limited partnership. Silverbrand (2008) stated Partnerships are the primary form of business which larger companies begin (p.167). Partnerships are simple to start, no required registration only within certain states, and can end quite rapidly. A general partnership is where each partner is equal to liability or any litigation consequences. In a limited partnership, the liability is limited equal to the amount the limited partners at first invested. In fact, sometimes limited partners do not make business decisions but, own stock within the company. Basically, an LLC, with its hybrid nature, "provides owners...with the limited liability protection of a corporation, but without the potential for double taxation" (Jordan & Clark, 1197). The income created from a general partnership of a business is taxed as income earned by the person working for a different company. When starting a partnership it is best to discuss the amount of liability that each partner is responsible for. Which, will help when looking at the type of litigation described. The most recognized companies are Corporations and LLC's. According to Sonderquist (2000) Corporations are similar to limited partnerships Get

Business Management Essays

Business Management The world of business has undergone radical and dramatic changes in the last decade changes that present extraordinary challenges for the contemporary manager. A manager is an organizational member who is responsible for planning, organizing, leading, and controlling the activities of the organization so that the goals can be achieved. According to a widely referenced study by Henry Mintzberg, managers serve three primary roles: interpersonal, informational, and decision–making. Management is process of administrating and coordinating resources effectively and efficiently in an effort to achieve the goals of the organization. The concept of management within an organization typically occurs in an...show more content...

Controlling is monitoring the performance of the organization, identifying deviations between planned and actual results, and taking corrective action when necessary. With all these four functions that are involved in the process of management, if all are followed correctly the organization will be properly ran and will have few complications. In every organization there are managers, and every manager is classed on different levels in terms of the skills they need and the activities they are involved in. Managers exist at various levels in the organization hierarchy. A small organization may have one layer of management, where as a large organization may have several. In most organizations there are three level of managers. The three level of managers are, first line manager, middle manager, and finally the top–level manager. Managers at different job levels have different job responsibilities and therefor require different skills. First–line managers supervise the individuals who are directly responsible for producing the organization's product or delivering its service. They carry titles such as production supervisor, line manager, section chief, or account manager. First–line managers along with all the other managers are involved in three skills conceptual, human, and technical. In each three different levels of management, each one of these Get more content

Business Plan Essay examples

Describe the type of business you have created including: a. the product or service, and general staffing plan. Provide a rationale for your plan. b. The form of your business and the benefits it offers your particular business, c. A chart of accounts specific to your business, including a rationale as to the selection of each account. (Note: The chart of accounts is a blueprint of your business for the lender/investor. It should report the expected resources that you will consume in your business (assets), the sources of those resources (liabilities and equity), the sources of revenue, and expenditures that you expect to incur to earn those revenues. You may build a detailed chart that includes business units, divisions, product ...show more content...

Chris Forte chose to be a sole proprietor because sole proprietorships are mainly one–owner businesses. Chris Forte can close it, sell it or pass it down to his heirs at any time. A sole proprietor pays taxes as a part of his individual income tax filing. The costs of obtaining a license for sole proprietors are substantially less than those for corporations. Start–up costs for sole proprietorships are very low. The Startup cost for Shear Perfection Unisex Salon will consists of the cost of the building (23,000) five salon stations, five master barber chairs, each station requires a salon chair, cabinet, and a large mirror, shampoo bowl and a floor mat, five sit under dryers will be located in the rear of the salon. All other miscellaneous items such as curling irons, electric razor, several pairs of scissors, spray bottle, assorted combs and brushes all employees are expected to provide for themselves. Shampoo bowls and floor mats. Located in the front of the salon will be a desk for the receptionist, along with a computer for sales and booking appointments ,three couches for reception area and two flat screen televisions to entertain our clients. Located in the back of the salon will be an office for management with a computer for accountant purpose with a printer. DescriptionCost Building Total Cost of Building23,000 EquipmentTotal Amount of Equipment 4,723 FurnitureCost to Furnish Salon 9,753

I was taking this course because it is a requirement for my major. I supposed to take Technical Writing course instead, but the course was full, and I choose ENG 306 Business Writing. Honestly, I had negative attitudes towards this course from the beginning. I did not like writing unless the technical one. I also did not catch too much and concentrate very little on learning about this course. Due to some reasons, later my ideas about this course has begun to change my learning. I worked hard and figured out each assignment problems that I once thought were too complicated to complete.

The syllabus was full of text to read and each assignment had very short times to completed compare to the other courses I took from this semester. Major Project 1 the video tutorial, I completed the video peer draft promptly and posted to the discussion board as instructed by an instructor for peer reviews from my classmates before anyone else had posted. After I received feedback from my classmates and I began to edit my video. I developed my video tutorial about "Air Quality Index Basic" and uploaded on the YouTube platform, then I submitted my video link to my instructor promptly on the blackboard. I did my best in this video and I deserved grade "A" or 20% on this assignment, but unluckily I got "B". It was not fair because I have to put up my self in the Internet world and I received an unfair grade for my hard work. In addition, on the Major project 2 assignment, I choose to work

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RUSH BAKERS& RESTAURANT (PVT) LTD No 56 New Bus Stand Nittambuwa Telephone–0773892174

Fax–0338937268

Table of Contents

1.Executive Summary2

1.1Objectives

1.2 Mission

2.Company summary3

2.1 Company ownership

3.Start–up summary3

4. Products and Services4

5. Market Analysis Summary4

5.1 Market Segmentation

5.2 Target Market Segment Strategy

6. Strategy and Implementation Summary5

6.1 Competitive Edge

6.2 Marketing Strategy

6.3 Sales Strategy

6.4 Sales Forecast

7. Management Summary6

8. Financial Plan6

8.1 Important Assumptions

8.2 Break–even Analysis

8.3 Projected Profit & Loss

9. Summary7

1. Executive Summary

Rush Bakers & Restaurant (RBR) is a start–up bakery...show more content...

–People or family members who come to Nittambuwa for shopping and who will be looking for walk–in food convenience feeling tired.

–Local travelers and tourists who are active restaurant seekers.

5.1 Market Segmentation

Rush Bakers intends to serve a wide range of customer base. Our market segment includes:

Young adults and business people

Families with children

Travelers and tourists

High–end singles or bachelors

5.2 Target Market Segment Strategy

The dominant target market for Rush Bakers & Restaurant is a regular stream of local residents. .We can specifically divide the market into two segments, ordinary people with families and business people.

6. Strategy and Implementation Summary

This business hopes to succeed by offering high quality foods and bakery products at a competitive price and superior customer service at a friendly neighborhood–feel atmosphere.

6.1 Competitive Edge

The competitive edge of Rush Bakers & Restaurant is relatively low level of competition in the local areas in this particular niche. Rush Bakers & Restaurant rely on two competitive advantages: The importance of experience–The customer experience is extremely important as an effective way of distinguishing offerings. When a customer has a good experience at a restaurant, the probability of the customer repeating to the hotel is more and there is chance of sharing his

Business communication needs to become interpersonal again. No matter how we believe our human forms came into existence, we were built to need personal contact and function best with face–to–face communication. As children, we desired comfort from touch, a hug from our mothers. As teenagers, we held hands with our boyfriend or girlfriend. As adults in the workforce, we still need to feel that connection and comfort with our families and the people we work with. As Susan RoAne (2008), owner of a speaking, consulting, and coaching business, discusses one way we feel this connection is through getting to know and building trust by communicating in–person. Through this interpersonal interaction, we not only feel more comfortable around...show more content...

For the greatest success of the business, employees need interpersonal communication to connect with their co–workers. A leadership expert, John C. Maxwell (2010) says: "Connecting goes beyond words." (p. 41). Physically being in the same room, verbally speaking thoughts, engaging in eye contact, and being able to see nonverbal responses are all important and add to a person's understanding of the message being communicated and feeling a connection. Overall, communicating face–to–face is more natural for employees. An employee knows who is hearing what they are saying and seeing their nonverbal gestures. The employee can either get immediate feedback whether or not the person understands or agrees or disagrees. The communication does not have to be formatted as it does on paper. An employee should still present themselves professionally, but communicating face–to–face is a process, instead of format. Through in–person communication, employees will be able to not only build needed connections, but relationships and trust with co–workers in the business. Maslow's hierarchy of needs is like a staircase, a person needs to satisfy the lower stairs to easily reach and fulfill the higher staircases. If you refer to Figure 1 on page 9, social needs, feeling connections with people around you, are

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Starting a business can seem like a daunting task, when really there is a systematic approach that an entrepreneur can take to setting up a business. There are many factors to consider when setting up a business structure; these factors include start up cost, operating costs, liability, and taxation. A business owner will also want to look at whether or not they may want to expand in the future, which will also play a factor in what type of business they should set up. This paper will look at the advantages and disadvantages of sole–proprietorships, partnerships, limited liability companies, and corporations. As well as look at what courts can do if a business operates outside the scope of accepted business practice. There is no "one size...show more content...

A sole–proprietor also has unlimited liability, which means the business and the owner are not separate entities. (Ref. 1, pg. 1) Therefore they are responsible for any damages incurred by the company and any personal property may be taken to pay for damages. Because a sole–proprietorship is not separate from the owner the income from a sole–proprietorship is taxed as personal income, or "pass through" income. The business owner has to pay FICA taxes of 7.65% on all income up to $94,200; they also have to pay an additional employer FICAtax of 7.65% on that same first $94, 200 which brings the total to 15.3%. The owner also pays a FICA tax of 1.45% on all income of $94,201 and above because all income is treated as personal income for the business owner. These taxes are in addition to state and federal income taxes, which also tend to cater more to other types of business structure, particularly corporations. Partnerships are the least used type of business making up about 11% of US business and account for only 8% of the profits. (Ref. 3, pg.76) Partnerships are very similar to sole–proprietorships in the form of structure. Each partner takes their assets and pools them together to form a company. The advantage of a partnership is a greater pool of assets or capital, and shared risk among the partners. In a partnership the owners can all provide operating capital, as well as apply for loans which give them more

Numerous large businesses that are operating today were once started as small businesses. A new business is established to create a good or service that no other businesses have ever created or simply a product of higher quality than existing products, with the purpose of meeting customers' needs and earning profits. Due to the technological advances at the present time, starting and operating a new business is less laborious. Nevertheless, would–be entrepreneurs should be familiar with the proper approaches to start their businesses. The first step to starting a business is to create a business plan. A business plan is a document that outlines the overall strategies of a new venture and how those strategies will be implemented (Ebert &...show more content...

However, the business owner can also attempt to operate his/her business by bootstrapping, which refers to the operation of an entity by using limited sources of capital (Gregory, n.d.). In addition, the financial factors should also include financial planning. Financial planning normally refers to the cash flow and income statement, balance sheet and breakeven analyses. Therefore, there are three major sections to an ideal business plan that are the organizational goals, the sales forecasts, and the financial factors.

After the creation of a business plan, the next step to operating a business is the selection of an appropriate business structure. Different legal forms of business ownerships affect different managerial and financial factors from the business names to the tax obligations (Gregory, n.d.). The most common forms are sole proprietorship, partnership, cooperatives, and corporations. There are different types of corporations in the business world, but the two most general corporation types are S Corporation and Limited Liability Company (LLC) (Ferrell et al., 2013). The sole proprietorship is the easiest and most basic form of business ownership. It is owned and run by one individual, which is the proprietor. The individual is entitled to all profits and is responsible for all the business's

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