...Understanding the Concepts William Gould Finance 100 Dr. Crawford March 7, 2013 Strayer University, Augusta Campus Owning and operating your own business is a goal of most Americans. The thing about owning your own business is to understand the concepts of operating a small business. When thinking about starting a small business, a person must have a well written business plan. A business plan is an “a formal document that describes a business concept, outlines core business objectives, and details strategies and timelines for achieving those objectives” (Kelly & McGowan, 2012).A business plan consist of marketing: products and services offered, demand from customs, market and location, advertising and marketing plan and pricing strategy, Financial Management: amount needed to start, expected cash flow, projected income and balance sheet, etc...Operation: daily management, hiring and personnel policies, insurance coverage and leasing agreement (Gordick, 2003). Within a small business, a small business owner must be able to keep track of the money that is coming in and going out. Using the different financial source and equation to operate your business is essential in owning and operating a small business. Understanding the concepts will help you own, operates and sustain a small business. NPV and payback is a concept a small business owner must understand, when making decision in a small business. NPV or net present value method is a dynamic investment appraisal...
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...Understanding Concepts Finance 100 June 10, 2012 Imagine you are a small business owner. Determine the financial ratios that are important to the business. Compare your ratios with those that are important to a manager of a larger corporation. A financial ratio is a simple mathematical comparison of two or more entries from a company's financial statements. Business owners and managers use ratios to chart a company's progress, uncover trends and point to potential problem areas in a business Financial ratios are relationships determined from a company's financial information and used for comparison purposes. Examples include such often referred to measures as return on investment (ROI), return on assets (ROA), and debt-to-equity, to name just three. These ratios are the result of dividing one account balance or financial measurement with another. Usually these measurements or account balances are found on one of the company's financial statements—balance sheet, income statement, cashflow statement, and/or statement of changes in owner's equity. Financial ratios can provide small business owners and managers with a valuable tool with which to measure their progress against predetermined internal goals, a certain competitor, or the overall industry. In addition, tracking various ratios over time is a powerful means of identifying trends in their early stages Explain the advantages and disadvantages of debt financing and why an organization would choose to issue...
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...Assignment: Understanding the Concepts FIN 100 – Principles of Finance Assignment: Understanding the Concepts Ever dream of owning your own business? The life of a business owner can be a glorious one with many exciting benefits such as a big house, a nice car, and oodles of money. According to (Henderson, 2012), “The average income of small business owners varies widely depending upon their level of experience. For example, small business owners with less than one year of experience in running an organization earn an annual salary ranging from $34,392 to $75,076. Those with more than 10 years’ experience, on the other hand, earn upwards of $105,757 per year”. As seen here, experience literally pays off big and is all about making good decisions in business. Some of the first decisions a business can make is determining the financial strategy. Financial Ratios Important to Large and Small Businesses Before a business can determine the best financial strategy, they must identify the strengths and weaknesses of their business. One way this is done is by computing ratios that compare values of key accounts listed on the financial statements. There are a lot of financial ratios that can be determined by business owners and managers through analyzing these financial statements. Depending on your size of business and the experience of the business people, will determine the best financial strategies for their firms. According to Bankrate.com, “A financial ratio...
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...Understanding “The Banking Concept of Education” People learn by different methods of teaching: visual, auditory or tactile. A visual learner favors reading or pictures, an auditory prefers listening and a tactile person learns by a hands on approach. (The Learning Styles) In Freire’s excerpt “The Banking Concept of Education”, he describes how the relationship between students and teachers suffer from narration sickness (Freire). Freire explains in today’s modern education the teacher has become the depositors of information and the students are the bank receiving the information. This essay will explain the meaning of Freire’s excerpt and provide an understanding of his two concepts of education, banking and problem posing. Although auditory is a method of learning, Freire argued how education today is more focused on memorization rather than a two-way street of communication. In order for a car to run, it needs a tank full of gasoline; this same theory can apply to Freire’s theory of “The Banking Concept of Education”. He describes how students have been turned into “containers” to be “filled” by the teacher (Freire). This was evident while attending the Non-Commissioned Officer’s Academy in February 2008. During the 5 week Professional Military Education course, the instructors stood at the front of the classroom the students were exposed to what we termed, “death by PowerPoint”. Each day was filled with instructor narration of material that culminated...
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...were often held annually, at harvest time, but the development of futures contracts has spread commodities trading over the year. Financial markets have traditionally been open each business day. As volume in many markets has grown, efficient continuous markets - some operating on a twenty-four-hour basis - have become the norm in currencies and in a few widely held securities. In general, market forces have dealt effectively with the reallocation of price and rate risk and have provided liquidity through securitization and the allocation of capital to market making. Market forces have not yet dealt adequately with the risk of market discontinuities. 2. Discuss how the Valuation Principle helps a financial manager make decisions. The concept of value is at the heart of financial management, yet the introductory case demonstrates that valuation of companies is by no means an exact science. Inability to make precisely accurate valuations complicates the task of financial managers. The financial manager controls capital flows into, within and out of the enterprise attempting to achieve maximum value for shareholders. The test of his effectiveness is the extent to which these...
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...Understanding Business Research Terms and Concepts: Part 4 Que McMannis Res 351 03/17/2015 Mark Robinson Abstract The three most commonly used research instruments in quantitative research Studies include Questionnaire, Tests, and Surveys. Validity is the degree to which an instrument measure what it is purports to measure. Imprecise information collection can influence the outcome of a study and eventually lead to unacceptable results. Reliability is the internal consistency or stability of the measuring device over time (Gay, 1996). The collection data of Quantitative methods depend on random sampling and organized data collection instruments that fit different involvement into fixed response groups (www.mbaisherebyravali.com). An important aspect of the quantitative research design is the non-probability method. Through the non-probability method, there are many sampling designs such as convenience sampling, purposive sampling and model instance sampling (www.wilderdom.com). Listed below are two Quantitative strength approaches. The first quantitative strength approach is offering vivid data; for example, permitting us to take pictures of an employer population (www.library.pinpoint.com). Another strength is quantitative research have the ability to translate numbers and data in quantifying graphs and charts. (www.library.pinpoint.com) The first weakness of the quantitative approach is large samples are needed thus causing the study to be more expensive, time-...
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...Instructor Brunson English 106 27 January 2013 Understanding Paulo Freire’s “The Banking Concept of Education” In Paulo Freire's essay, "The Banking Concept of Education" he explains his view of the education system, and the faults within it. Freire describes how the teacher-student relationship is an important concept when overcoming oppression. Freire believes teachers and students need to constantly work together beginning to develop the knowledge and consciousness that is necessary to overcoming oppression. There are various methods which can be used to overcome these obstacles associated with the teaching of education. They are the banking method and the problem-posing education method. Freire explains the majority of the education system as being a "banking" education, he explains to be the wrong method. The "banking" education concept is described as a negative way to educate; “teachers present a subject to their students they also present a point of view in that subject.” (Freire p ) Teachers assume students are passive, take all control, enforce their opinions; determine what will be learned, and "force-feed" information to students. The world is seen as static. Students are encouraged to "fit in to" the world as it is. Banking encourages students to accept the world as it is, separates the learner and the learner's consciousness from the world, and so contributes to oppression. Freire refers to the “Banking Concept” as a metaphor that teachers see students as a...
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...Understanding Business Research Terms and Concepts: Par RES/351 2/1/2016 University of Phoenix Understanding Business Research Terms and Concepts: Part 1 How can we embrace understanding business research terms and concepts by comparing Lender evaluations of start-up business prospects and understanding the effect of a web-based tutorial on problem formulation ability by using qualitative and quantitative research designs? The business of rental cars can benefit from both quantitative and qualitative research designs by combining both designs for maximum effect. Lender evaluations of start-up business prospects The study was collected in 2003 and 2005 from the data bases in Finnvera, a state-owned financial institution. The data collected allows the qualitative ways authors can examine the information based on personal history and firm-specific characteristics of business prospects, and market position impact firm performance. The weakness of using the qualitative design for lender evaluations is the understanding parts of the data because it can be misunderstood because of personal opinions of the researchers. By using the quantitative design, the researchers can begin to explain the data results and come to a more itemized way of using the data. Lenders struggle with the data results as stated Iselin (1988), “Some studies state that inconsistency in previous findings could result from improper measurement of information loads as well as failure to rule...
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...Understanding Business Research Terms and Concepts: Part 1 RES/351 January 12, 2015 Amy Ginsburg Understanding Business Research Terms and Concepts: Part 1 The research designs of quantitative or qualitative are methodologies used to measure information that is collected through various means of questioning. In the peer reviewed research articles summarized below, each methodology is utilized to collect the required data in similar business problems. Quantitative is used to help understand the attitudes of the employees at a company in India, while the qualitative methodology is used to obtain an in-depth understanding of employee business awareness. In the research article entitled, “What makes employees stay?: Exploring the dimensions in context of urban-centric business process outsourcing industry in India”, the author attempts to show why the current employees of the company choose to stay, helping overall retention. The author explains that the approach being used to collect the data will consist of a questionnaire or survey, by a large group of employees. This questionnaire measured the employees’ attitudes towards the “importance of the factors responsible for their sustenance in the organization” (Santoshi, 2013). While a questionnaire would be utilized to aid in the main data analysis, a telephonic interview would also be incorporated to help substantiate the data gathered. During this questionnaire process, simple random sampling would be used to gather...
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...Understanding Business Research Terms and Concepts: Part 2 Justin Wilson RES 351 Business Research 31 Mar 2015 Biman Ghosh Descriptive statistics is the term given to the analysis of data that helps describe, show or summarize data in a meaningful way such that, for example, patterns might emerge from the data. Descriptive statistics do not, however, allow us to make conclusions beyond the data we have analysed or reach conclusions regarding any hypotheses we might have made. They are simply a way to describe our data. Descriptive statistics are very important because if we simply presented our raw data it would be hard to visulize what the data was showing, especially if there was a lot of it. Descriptive statistics therefore enables us to present the data in a more meaningful way, which allows simpler interpretation of the data. For example, if we had the results of 100 pieces of students' coursework, we may be interested in the overall performance of those students. We would also be interested in the distribution or spread of the marks. Descriptive statistics allow us to do this. How to properly describe data through statistics and graphs is an important topic and discussed in other Laerd Statistics guides. Typically, there are two general types of statistic that are used to describe data: * Measures of central tendency: these are ways of describing the central position of a frequency distribution for a group of data. In this case, the frequency distribution...
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...Understanding Business Research Terms and Concepts: Part 1 RES/351 May 31, 2015 Understanding Business Research Terms and Concepts: Part 1 To comprehend business research specifications and hypotheses there must be an informative awareness of by what means to differentiate among qualitative and quantitative approaches of research. To set apart the research and utilize the qualitative approaches it provides the framework opposed to completely identifying with the results and findings that are found in quantitative approach. Clark (2010) “Engaging with qualitative research as a participant, respondent, subject, or informant is non-compulsory” (para. 2). The research captures what individuals allow to express in their own words and communicate his or her involvements and experiences profundity. Qualitative information offers the quality of genuine existence in addition to its differences; the data provides an insight partial to the rational and the emotional state that stimulates individuals to take action. To be concise, the quantitative approaches are reliable, standardized, logically acquiring to the point replications from numerous credible clients. Often clarifying sound and significant qualitative research strategies and quantitative research proposals taking part in particular organization circumstances it requires informative research types that could be dependable or conceptual. Informative research focuses on what is the motive and purpose. For instance...
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...7. How important is the concept of “race” for understanding contemporary Malaysia? Introduction The concept of race as defined by Rex and Mason is “an essentially biological concept based on distinctive sets of hereditary phenotypical features that distinguish varieties of mankind” (1986, p. 189). In Malaysia however, race is oftentimes used to mean ‘ethnicity’, which is incorrect as ethnic groups are sub-divisions of a particular racial stock differentiated by history and cultural practices (Rex and Mason, 1986, p. 189). Nevertheless, the concept of race is an important one in understanding how it has shaped the politics and society of Malaysia. In this essay I will explain how Malaysia’s colonial past and affirmative action policies has contributed to the formation of a society divided along racial lines and how that has created racial tensions among the ethnic groups of Malaysia. Malaysia which touts itself as a ‘plural society’ is a country constituted by different race/ethnic groups, the three largest being the Malay, Chinese and Indian groups. As of 2010, the Malaysian population consists of 28.3 million people, with 91.8% Malaysian citizens. The Malaysian citizens are made up of 67.4% bumiputera (translated as ‘son of the soil’, a group composed of predominantly ethnic Malays along with various other indigenous tribes and native groups), 24.6% Chinese, 7.3% Indians and 0.7% Others (Department of Statistics Malaysia, 2010). With so many different ethnic groups within...
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...Understanding Business Research Terms & Concepts: Part 2 Scott Allen RES 351 08/18/2014 Kim Gravelle Understanding Business Research Terms & Concepts: Part 2 “The research design is the blueprint for fulfilling objectives and answering questions. Selecting a design may be complicated by the availability of a large variety of methods, techniques, procedures, protocols, and sampling plans. (Cooper & Schindler 2014 p. 82). Next, the details of the study must be positioned in place. For example, will the researcher use primary or secondary data, surveys, experiments, or a combination of methods. Next, what will be the types of questions will be posed, open-ended or closed? If surveys and questionnaires are used what type of a scale will be used to measure the results; a rating scale, semantic differential, or a Likert scale? Also, the researcher must decide on whether to do sampling or perform a census. It is easy to see that the design method is what pulls the entire research process together; if the research question is the foundation, then the design processes utilized are the walls used to support the process itself. Descriptive statistics is the analysis of data that helps to describe the data in such a way to give relevance or show patterns, much like a census does. The researcher presents the data in a meaningful way like in statistical or graph form making it simple to understand. A census is an examination of all components that make up a population...
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...Understanding Business Research Terms and Concepts: Part 1 Business research is the key to understanding how to promote sales and increase company efficiency. It helps managers to be successful, and prepares them to make smart business decisions to help the business grow. Companies may choose from a variety of approaches to conduct their research. Both qualitative and quantitative research methods are reliable in aiding to achieve success. But, no matter the approach or method of research taken, there will always be key points to look out for when doing business research. Such as, the importance in learning what makes your product or service stand out against other competitors in the industry and how to market it in that manner to consumers. Brands and Consumer Behavior Marketing to the appropriate target is the goal in which to be achieved for almost every business. When a business puts its focus on the needs and wants of their proposed consumers, the chances of reaching that consumer is more likely. In this research, a questionnaire was developed to explore the correlation of brand image and brand equity with consumer purchase intention. Meenaghan (1995) defines brand image as product knowledge that enables consumers to identify a specific brand. Blackwell, Miniard, and Engel (2005) describe how brand image has both tangible and intangible associations for consumers. Bhat and Reddy (1998) define brand image as an information prompt. When it comes to brand equity;...
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...Understanding Business Research Terms and Concepts: Part 2 Rodney Goudy RES/351 July 6, 2015 Tracy Sipma Descriptive statistics Descriptive statistics suggests a straightforward quantitative outline of a data-set which has been gathered. It helps us comprehend the experimentation or data-set in-detail and tells people concerning the mandatory details that help show the data perceptively. Descriptive statistics, we just convey exactly what the data reveals and tell us. Most of the statistical averages and numbers we estimate are essentially illustrative averages. For instance the Dow Jones Industrial tells us about the typical performance of select firms. The grade-point avg. tells us about the typical performance of a pupil in school. The GDP growth rate tells us about the typical performance of a state. Therefore illustrative statistics attempts to catch a sizable group of observations and offers us some concept concerning the data-set. Descriptive statistics aims to describe data set information with summary graphs and tables (Linda Hollis, n.d.). Inferential Statistics Inferential statistics includes drawing the correct conclusions from your statistical evaluation that's been performed using descriptive data. Ultimately, it really is the inferences that make studies significant and this element is dealt with-in inferential data. Most forecasts of the potential and generalizations of a population by analyzing a smaller sample come under the scope of inferential statistics...
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