...Essential Elements of a Good Business Plan A business plan should be a work in progress. That's because your business will evolve over time, and be influenced by outside factors such as the economy and local conditions. Even successful business owners should maintain a current business plan to ensure they remain knowledgeable on the elements that can affect continued success. • Business Plan Executive Summary The executive summary is Part 1 of the business plan and is the most important section of your plan. It provides a concise overview of the entire plan, along with a history of your company. This section tells your reader where... • Market Analysis The market analysis section is Part 2 of the business plan. This section should illustrate your knowledge about the particular industry your business is in. It should also present general highlights and conclusions of any marketing... • Company Description The company description is Part 3 of the business plan. Without going into detail, this section should include a high level look at how all of the different elements of your business fit together. The company description section... • Organization & Management Organization and Management is Part 4 of the business plan. This section should include: your company's organizational structure, details about the ownership of your company, profiles of your management team, and the... • Marketing & Sales Management Marketing and...
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...TITTLE: REPORTING BUSINESS COURSE CODE: BACJ 249 TASK: INDIVIDUAL ASSIGNMENT PRESENTED TO: MR JULIUS BOSIRE PRESENTED BY: MARTIN OKONJI REGISTRATION NO: COM-1-3962-3/2011 SUBMISSION DATE: 10/5/2012 QUESTION: DISCUSS THE TEN TIPS OF BUSINESS AND ECONOMIC NEWS WRITING AND REPORTING BY PAUL HEMP. BUSINESS AND ECONOMIC NEWS WRITING TIPS BY TO PAUL HEMP Paul Hemp is an experienced and innovative writer, editor and communications executive. Currently he is the director of Global Thought Leadership at HCL Technologies. In his book, Ten Practical Tips for Business and Economic Reporting in Developing Economy, Mr. Paul Hemp talks about the ten Hemp rules. These rules are aimed at making business and economic stories, understandable and interesting. According to Hemp, The basic problem with business and economic news is that they are complicated and boring. Complicated news bores people. A journalist must make it understandable and interesting. He adds that the three rules of making stories understandable are explain, explain and explain. This former Senior Editor at Harvard Business Review, says in his book that Business, financial or economics journalists could improve the effectiveness of their communication if they followed a few simple rules: 1. Use statistics sparingly 2. Avoid economic jargon 3. Define economic terms 4. Compare statistics 5. Turn statistics into stories 6. Humanize business news 7. Generate unusual business story ideas 8...
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...Introduction to Statistics QTM403 Basic Information Program | BBA 3 (Hons.) | Semester | Fall 2015 | Credit Hours | 3 | Pre requisites (if any) | Mathematics | Resource Person | Iftikhar Hussain | Contact information | ihgrw85@gmail.com | Course Description: Important decisions are rarely made by intuition alone. We need to use the data to develop our insights and to support our analysis. Quantitative analysis includes the tools and techniques with which we seek to replicate reality mathematically and statistically. Statistical Techniques are applied in all the functions of business like Operations, Marketing, HR, Finance etc. The aim of this course is to learn when a technique is appropriate and what it can achieve. The emphasis throughout the course is on concepts and reasoning rather than technical details. You should acquire some basic data analysis skills but most importantly, become a more informed and critical producer and user of business Statistical analyses. Learning Objectives: Ser. # | Course Learning Objectives | Link with Program Learning Objectives | 1 | To understand the basic concepts and principles used in Business Statistics. | To inculcate business knowledge and analytical skills in graduates to think decisively in order to develop innovative solutions to problems in a business environment. | 2 | Organizing qualitative and quantitative data into a frequency table, displaying the data through charts...
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...Statistics in Business Mary Wilson QNT/351 August 26, 2015 Instructor Cherlyn Conner Statistics in Business The definition of statistics is a science that aids in the processing of collecting, classifying, analyzing, and the interpretation of information of data. Statistics can be descriptive, inferential, quantitative and qualitative in the data provided. The levels of statistics are nominal, ordinal, ratio, and interval (Lind, Marchal, & Wathen, 2011). Describe the role of statistics in business decision making Statistics are a valuable tool for running a business and can assists executives and managers to make decisions based on information collected over a period of time. Data can be useless only if it has be properly analyzed and interpreted. Statistics allows businesses to review data and come to a reasonable conclusion to them make sound plans and way to predict the future of their business. Statistics can help employees to create, understand and transform information and to be effectively work well with fellow co-workers. Statistics can be utilized in every step of life in the home, in business, as a student to provide one with data which will enable one to develop skills in making good decisions in business and personally (McClave, Benson, Sincich, 2011). . Provide at least three examples or problem situations in which statistics was used or could be used. For example, JPMorgan can used statistics to evaluate the various...
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... | | | |6:00pm to 10:00pm | | | |School of Business | | | |QNT/351 | | | |Quantitative Analysis for Business | | | |Dr. Jacquelyn B. Frausto | | Copyright © 2013, 2012, 2011 by University of Phoenix. All rights reserved. Course Description This course integrates applied business research and descriptive statistics. Students will learn to apply business research and descriptive statistics in making better business decisions. Other topics include examination of the role of statistics in research, statistical terminology, the appropriate use of statistical techniques, and interpretation of statistical findings in business and research. Policies Faculty and students will be held responsible for understanding and adhering to all policies contained within the following two documents: • University policies: You must be logged...
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...QNT/351, June 01, 2015 Question 5: Descriptive Statistics: Your supervisor treated you fairly. Finding Data |Descriptive statistics | | | | | | | | | | | | | | | | | |Q5 | | | | | |cumulative | | | lower | |upper |midpoint |width | frequency |percent | frequency |percent | | |1 |< |2 |2 |1 |12 |15.4 |12 |15.4 | | |2 |< |3 |3 |1 |18 |23.1 |30 |38.5 | | |3 |< |4 |4 |1 |15 |19.2 |45 |57.7 | | |4 |< |5 |5 |1 |15 |19.2 |60 |76.9 | | |5 |< |6 |5 |1 |18 |23.1 |78 |100.0 | | | | | | | | | | | | | | | | | | |78 |100.0 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |Descriptive Analysis Based on above survey question, the intention of descriptive analysis is to provide a clear understanding by use of graphical and numerical result to visualize unique trends of statistic data set. The survey question was engineered to...
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...Statistics in Business QNT/ 351 May 7, 2013 Statistics in Business One of the tools used to make decisions is statistics. Statistics is used not only by businesspeople; we all also apply statistical concepts in everyday lives. (Basic Statistics for Business & Economics) Define Statistics Statistics is a mathematical science connect to the collection, analysis, interpretation or explanation, and presentation of data. It also provides tools for prediction and forecasting based on data. The word statistics can either be singular or plural. “In its singular form, statistics refers to the mathematical science. In its plural form, statistics is the plural of the word statistic, which refers to a quantity, calculated from a set of data.”(www.socialresearchmethods.net) Identify different types and levels of statistics. There are two types of statistics, descriptive and inferential. Descriptive statistics are used to describe the basic features of the data in a study. It provide simple summaries about the sample and the measures. Inferential statistics is trying to reach conclusions that extend beyond the immediate data alone. The different levels of statistics are nominal, ordinal interval and ratio which are level of measurements. Data can be classified according to levels of measurement. The level of measurement of the data “dictates the calculations that can be done to summarize and present the data. It will also determine the statistical tests that should be performed.”(Basic...
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...Institute of Management Sciences Peshawar Bachelors in Business Studies Course Plan Course Title: Statistics for Business Instructor: Shahid Ali Contact Email shahid.ali@imsciences.edu.pk Semester/Duration: 16 Weeks Course objectives : To introduce students to the concepts of statistics and to equip them with analytical tools to be used in business decision making. The course is intended to polish the numeric ability of the students to identify business problems, describe them numerically and to provide intelligible solutions by data collection and inferential principles. Course pre-requisites Intermediate statistics Attendance Policy: Late arrivals are highly discouraged. Any student coming late to a class late by 5 minutes after the scheduled start time will be marked as absent for the day. The teacher reserves discretion, however, to allow or disallow any student, to sit in the class in case of late arrivals. Attendance is not be entertained once the attendance register is closed. Class Project Students will be divided in groups for a class project. Each group will have to nominate a group leader. The details of the project will be made available to the group leader. Class Presentations Each student will have to make at least one individual presentation and one group presentation in the class. The group presentation will be on the project explained earlier. The individual presentations will...
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...Economic Forecasting Economic Forecasting Gathering historical economic data as well as economic forecast data can be a very important and useful tool for a business, business research, and planning. There are several resources available in which a company can access this type of information for their advantage. For instance, through archiving data, collecting and running records, recollecting, economic data and forecast service providers or analytics, and other secondary resources. One useful source is the U.S. Small Business Administration. Their website lists multiple economic data resources tailored to different variables such as inflation, consumer reports, price index, accounts data, and the U.S. Census Bureau just to name a few. Furthermore, you can even access economic issues discussed at the White House and the plans intended to improve economic conditions. On the U.S. Small Business Administration’s website, there are very useful quantitative and qualitative forecasting factors. The whole website has a slew of quantitative factors with a lot of helpful statistics. Some important statistics to look at would be the trade and income figures. Trade statistics indicate how much money and product are being imported and exported within different time frames. It also gives an estimate into international transactions that are open at the moment. Income statistics give individuals access to know about different salary levels based on categories...
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...Justine joy balberanImportance of Statistics in Different Fields Statistics plays a vital role in every fields of human activity. Statistics has important role in determining the existing position of per capita income, unemployment, population growth rate, housing, schooling medical facilities etc…in a country. Now statistics holds a central position in almost every field like Industry, Commerce, Trade, Physics, Chemistry, Economics, Mathematics, Biology, Botany, Psychology, Astronomy etc…, so application of statistics is very wide. Now we discuss some important fields in which statistics is commonly applied. (1) Business: Statistics play an important role in business. A successful businessman must be very quick and accurate in decision making. He knows that what his customers wants, he should therefore, know what to produce and sell and in what quantities. Statistics helps businessman to plan production according to the taste of the costumers, the quality of the products can also be checked more efficiently by using statistical methods. So all the activities of the businessman based on statistical information. He can make correct decision about the location of business, marketing of the products, financial resources etc…(2) In Economics: Statistics play an important role in economics. Economics largely depends upon statistics. National income accounts are multipurpose indicators for the economists and administrators. Statistical methods are used for...
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...Introduction: An economic indicator is simply any economic statistic, such as the unemployment rate, GDP, or the inflation rate, which indicate how well the economy is doing and how well the economy is going to do in the future. If a set of economic indicators suggest that the economy is going to do better or worse in the future than they had previously expected, they may decide to change their investing strategy. Economic indicators include various indices, earnings reports, and economic summaries. Examples: unemployment rate, quits rate, housing starts, Consumer Price Index (a measure for inflation), Consumer Leverage Ratio, industrial production, bankruptcies, Gross Domestic Product, broadband internet penetration, retail sales, stock market prices, money supply changes. Three Attributes of Economic Indicators 1. Relation to the Business Cycle / Economy Economic Indicators can have one of three different relationships to the economy: 1. Procyclic: A procyclic (or procyclical) economic indicator is one that moves in the same direction as the economy. So if the economy is doing well, this number is usually increasing, whereas if we're in a recession this indicator is decreasing. The Gross Domestic Product (GDP) is an example of a procyclic economic indicator. 2. Countercyclic: A countercyclic (or countercyclical) economic indicator is one that moves in the opposite direction as the economy. The unemployment rate gets larger as the economy gets worse so...
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...Accredited Undergraduate Courses AUSTRALIAN CAPITAL TERRITORY The Australian National University University of Canberra NEW SOUTH WALES Australian Catholic University Australian Institute of Higher Education Avondale College Charles Sturt University Kings Own Institute Macquarie University Southern Cross University Top Education Institute The University of New England The University of New South Wales The University of Newcastle The University of Sydney University of Technology, Sydney University of Western Sydney University of Wollongong Williams Business College NORTHERN TERRITORY Charles Darwin University QUEENSLAND Australian Catholic University Bond University Central Queensland University Christian Heritage College Griffith University James Cook University Queensland University of Technology The University of Queensland The University of Southern Queensland University of the Sunshine Coast SOUTH AUSTRALIA Flinders University Kaplan Business School The University of Adelaide University of South Australia Open Universities (conferred by Uni of SA) TASMANIA University of Tasmania VICTORIA Australian Catholic University Cambridge International College Carrick Higher Education Deakin University Holmes Institute Holmesglen Institute of TAFE La Trobe University Melbourne Institute of Technology Monash University Northern Melbourne Institute of TAFE RMIT University Swinburne University of Technology The University of Ballarat The University of Melbourne Victoria University WESTERN AUSTRALIA...
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...Statistics in Business Kareem Kelly QNT/351 December 07, 2015 David Lantz Statistics in Business Statistics is a form of science where information learned from the collection of data. The data is involved in the application principle of quantitative interpretation and presentation for business purposes. Statistics are used for wide array of fields including business, education, marketing, economics, health, physics, sports, government, military, and many other fields. There are different types of statistics that are used for different purposes, and this paper will discuss them. Different Types and Levels of Statistics Though statistics is usually used as a general term, there are two forms of statistics, which are descriptive and inferential statistics. Descriptive statistics is the analysis of data shows, describes, or summarizes data in a way that show a pattern. The second type of statistic is called inferential statistics. Inferential statistics, you are trying to reach conclusions that extend beyond the immediate data alone. For instance, we use inferential statistics to try to infer from the sample data what the population might think ("Research Methods: Inferential Statistics," 2014). There is also four level of measurements that is also involved with statistics. The four levels of measurement are ratio data, interval data, nominal data, and ordinal data. All four of the different measurements has their purpose when using statistics for research. . The Role of Statistics...
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...1. Introduction Economy of a nation defines the future of its people. It determines whether a country is going to sustain or fail. Economic growth plays a pivoted role in improving nation’s gross happiness and ameliorating the lifestyle of its people. Economic growth is defined as “The value of all the products manufactured and sold in a country of the course of one year along with everything that people do and get paid for, all that amounts to the economic growth.” (Sandford and Bradbury, 1970). When people earn more money and then buy more products and services the economy grows. Politicians also want to see the economy grow, that’s why they work towards achieving greater employment, state prices and a balance between imported and exported goods. More growth means more money. The economic growth should be achieved in a way that it must reach to the point where the economy has finally matured. The resources that industries require are limited and the need for raw materials often doesn’t take nature into account. That is why rapid or poorly planned economic growth starts to have bad impact on quality of life, that’s why countries like Germany, Bhutan etc. plan their economic policy keeping in mind about nature’s safety and gross domestic happiness (Rodrik, 1996). 2. Economic Policy An economic policy is a very complicated area but it can be categorized into following major areas 1) Fiscal Policy: which refers to government’s budget. In other words, it deals with...
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...Statistics in Business QNT/351 February 5, 2014 Statistics in Business Most people think of numbers when they hear the word statistics. Statistics have been around since the beginning of mankind. It is not just about the numbers, but how they are used to interpret data and trends to predict future success. Statistics are an important aspect of peoples’ daily lives and are extremely valuable in the business world. Definition, Types, and Levels Statistics is the science of data and involves gathering, summarizing, classifying, evaluating, organizing, and describing mathematical data (McClave, Benson, & Sincich, 2011) to aid in making more efficient decisions (Lind, Marchal, & Wathen, 2011). There are two types of statistics: descriptive and inferential. Descriptive statistics refers to methods of summarizing, organizing, and presenting data (Lind, Marchal, & Wathen, 2011). Inferential statistics are methods used to gauge a substance of a community on the basis of a selection (Lind, Marchal, & Wathen, 2011). There are four levels of statistics: nominal, ordinal, interval, and ratio. Nominal classifies and counts measured observations, ordinal is used to rank data according to relative value, interval has the same features as ordinal but includes constant size differences, and ratio is the highest level of statistical measurement, specifically for quantitative data (Lind, Marchal, & Wathen, 2011). All types and levels have a significant role in business...
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