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Project financial assignment
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INTRODUCTION The project that I chosen for this assignment is Fresh Mart project. Fresh Mart is carried out by tutorial section. In my tutorial section, we divided our group into 2 sub-group and each group would be in charge of a specific stall which is vegetables stall and fruits stall. This project is giving a chance for student to have an actual business experience in their undergraduate studies by selling vegetables and fruits. This Fresh Mart project held on 8th October 2015 which located in front of the Student Life Centre, Taylor’s University. The operational hours of stall was between 9.00 a.m. to 2.00 p.m.. In this project, I act as a first-line manager that lead my classmates such as Jenny, Geraldine, Isaac Chew and so forth. LEVEL OF MANAGERS, MANAGERIAL ROLES AND MANAGERIAL SKILLS a. In this chosen project, First-line managers are responsible to support their staff and have a key role in ensuring the standard of care delivered is always high (Skillsforcare.org.uk, 2015). As a first-line manager, I should know the strengths and weaknesses of my group mates when I delegated work tasks among them. For example, Jenny is good in accounting and she would in charge of the finance or account part in the team. …show more content…
Goal is an observable and measurable end result having one or more objectives to be achieved within a more or less fixed time frame ((BusinessDictionary.com, 2015). In this Fresh Mart project, there were 2 goals which were stated goal and real goal. The stated goal of this project was to gain profit for raising funds to help out someone who is in need. However, for real goal, it was a part of assignment for Accounting which every first-year’s degree students must be completed. Besides, financial goal is a goal that set to revolve around finance or money (Study.com, 2015). It was also considered as a financial goal that we needed to earn RM 2,500 profits by selling the vegetables and fruits within 5 hours and donated the 60% of profits for
Customer loyalty is another competitive advantage. Trader Joe’s doesn’t provide membership card to the customer, however customer still would like to choose Trader Joe’s just because of this
Publix Super Markets, Inc. is a Florida-based grocery chain that has flourished since its inception in 1930. The first store opened in Winter Haven, Florida and to this day Publix has expanded to well over 1,000 stores in Florida, Georgia, South Carolina, Alabama and Tennessee. The supermarket chain now boasts over $25 billion in sales annually (Mujtaba and Johnson, 2012). To withstand the test of time and develop such a stronghold on the market, Publix has excelled in its global business community or macroenvironment, as well as its market environment or microenvironment.
Fast food chains, the main problem responsible for multiple health problems around the world has still not changed any of their ingredients or additives to make a positive change. Fast food meals have been linked to multiple health problems. Such health problems like heart diseases, which is the leading cause of death of men and woman in the United States. Fast food has also been linked to obesity, due to the high amount of fat and carbohydrates found in their meals. An equivalent aspect is the additives added to fast food like trans-fat and sodium, which are both linked to leading to multiple health problems. Yet fast food chains have not done anything in regards to all of this health problems. Fast food chains are still harming the public
What core competencies do you think the company has and what is needed to exploit opportunity and counter threats.
A1: Dollar General's main business strategy is to focus on being the leading distributors of consumable basics, with 30% of the merchandise at $1.00 or less. Dollar General believes in maintaining an assortment of consumable merchandise and making shopping for everyday items hassle free and simplistic.
For every $100 spent at a locally owned business, $68 of that will stay local compared to $43 if spent at a “big box store”. Even though people believe that local businesses are not as beneficial as a big box store, buying locally not only benefits the business but also the community because buying locally builds a strong community and the money you spend at a local business gets put back into the community.
“The Goal” is a book written by Eliyahu M. Goldratt and Jeff Cox in 1984. The book is very famous in the management field. In 2004, the author published the third revision of it and celebrated selling over than three million copied of it around the world. Also, the goal book is taught in over than 120 collages. The book was recommended by my professor to be read and summarize as an extra credit.
How does managerial planning for Project Impact take place at different levels within the organization?
7-Eleven is best described as being a joint ownership. 7-Eleven does exactly what some joint ownerships do where a business creates local business with investors in a foreign market. 7-Eleven put their stores in several countries and has done with many countries dream of doing, and they have entered market in a foreign country and have become so submerged that many people do not even know that they are not an American company.
Summarize and discuss the core issue in the case. Do not repeat the entire case details but only pertinent information at the heart of the case.
Overall, Whole Foods Market is financially strong even though gross margins may fall in the future. According to Bradley Seth McNew, Whole Foods Market is in the best cash position of any of its competitors. With almost zero debt, Whole Foods' operating cash flow could cover its long-term debt more than 246 times. Compare that to just 0.62 times for Sprouts Farmers Market, which has over $400 million in debt with only $180 million in operating cash flow (McNew, 2015).
Inventory management is a method through, which a business handles tangible resources and materials to ensure availability of resources for use. It is a collection of interdisciplinary processes including a full circle from the demand forecasting, supply chain management, inventory control and reverse logistics. Inventory management is the optimization of inventories of manufactured goods, work in progress, and raw materials. According to Doucette (2001) inventory management can be challenging at times; however, the need for effective inventory management is largely seeing more as a necessity than a mere trend when customer satisfaction and service have become a prime reason for a business to stand apart from its competition. For example, Wal-Mart’s inventory management is one of the biggest contributors to the success of the company;
... then CEO of Wal-Mart, Lee Scot which seem flawed from the very beginning where he excluded people with the relevant expertise, instead of uncover and deal with the serious problem, he choose to suppress. I recommend that he should have lead from the top with process for prevention and responding to the wrongdoers of this bribery scandal. As evident in the above case bureaucracy approach to management was not conducive, and therefore I also recommend the contingency thinking approach which is more applicable that try to match managerial response with the problems and opportunities specific to different settings. “No one best way” to manage and organize due to varying circumstances (Bateman & Snell 2004). Wal-Mart should have immediately appointed an independent third party investigating team and its result directly to the boards of directors and Justice Department.
The role of different managers in a project was the first topic which have been explained in the class and the roles and responsibilities as well as the impact would be made by different managers in a project were also discussed during the class. My lecturer illustrated different management styles with
Wal-Mart Stores, Inc. is a renowned retail goods superstore that sits atop the Fortune list at number one. It would be very difficult to find an individual who is unaware of Walmart’s position as the largest brick-and-mortar retail chain in the world. The company has thrived over the past few years and is continuing to grow by effectively managing its store operations and distribution strategies. One of the major contributors to the business consistently meeting market expectations is directly attributable to their management approach. Walmart has revolutionized the way retail companies manage their supply chains in more ways than one. But, perhaps the most revolutionary was the practice of unprecedented coordination with suppliers (Chekwa,