29 Jul Small Business Management Discussions
https://learn.umuc.edu/content/enforced/197233-027205-01-2172-OL4-7980/Week%204%20DQ%201_Cash%20Versus%20Accrual%20Method.png?_&d2lSessionVal=HyaC3EwOjL3Ty2lXCGe24SjgA
Figure 9.1. Comparitive Accounting Systems. Reprinted from Small Business for the 21st Century (Chapter 9, p. 9), by Anonymous, 2014, Washington, D.C.: The Saylor Foundation. Non-copyrighted, 2014 by Creative Commons. Reprinted with permission under the http://creativecommons.org/licenses/by-nc-sa/3.0/ guidelines.
Please post a 250 word initial response to the following discussion topic by Thursday and post peer responses to at least two other students (across all themes) by Sunday.
Choose at least one local business for this discussion topic.
· Determine whether the owners use the cash accounting system or the accrual accounting system and why.
· Ask how they handle their accounting (on their own? Through a service? A mix?) as well as benefits and challenges involved in this choice.
· Discuss with the course (not the business owner) your thoughts on your findings; did you learn anything new? Would you make any recommendations?
2. CAMPARI and Break Even Analysis – Your Choice
Please post a 250 word initial response to one of the following discussion topic by Thursday and post peer responses to at least two other students (across all themes) by Sunday.
Choice One: CAMPARI
For this discussion question, you are the loan officer of a bank. A valued customer, “Jane Smith”, has come to you requesting a loan for a small business, “Cats R Us” – a cat-walking service. Yes, cats. As the loan officer how would you approach this request? Using the “CAMPARI” method as mentioned in your text (and/or any other resources you’d like to refer to) walk us through the steps would you take, which data would you analyze, etc., as well as how you would communicate with Jane about her idea.
Choice Two: BREAK-EVEN ANALYSIS
The bottom line of most businesses involves making a profit. Imagine putting your saving or home equity into starting your own business. Would you not want to know when your business is selling a product or service when it will break-even (when revenue = fixed/variable costs)?
· Please list out assumptions of break-even analysis?
· Explain the break-even technique and how to determine the point when the product/service breaks even?
· What are the applications of the break-even analysis?
3. Changing Customer’s Needs and Customer-Focused Supply Chains
Figure 9.1.Comparitive Accounting Systems. Reprinted from Small Business for the 21st Century (Chapter 11, p. 10), by Anonymous, 2014, Washington, D.C.: The Saylor Foundation. Non-copyrighted, 2014 by Creative Commons. Reprinted with permission under the http://creativecommons.org/licenses/by-nc-sa/3.0/ guidelines.
The authors of your textbook report the following:
No business—small, midsize, or large—survives for more than a century without successfully identifying changing
customer needs and adapting its processes and technologies.
The adoption of new technologies is not limited to advanced manufacturing or web-based business. New technologies can be crucial to any business, even a business as seemingly prosaic as the local hardware store. However, successfully running a business with an inventory between twenty-five thousand and thirty thousand different items is anything but prosaic. (Small Business for the 21st Century, 2014, Chapter 11, p. 2)
Please post a 250 word initial response to the following discussion topic by Thursday and post peer responses to at least two other students (across all themes) by Sunday.
Choose three businesses you have patronized for at least several years for this discussion. Describe how each organization has adapted to changing customer needs in regard to their processes and technologies. In your discussion, be sure to include:
· The changes as mentioned above
· Effects of these changes on the survival and/or increased success of the business
· Some of the challenges faced by the organization when implementing changes – an employee, manager, or store owner should be able to provide you with a good overview.
4. Leadership
The authors of your textbook sum up that, “different situations call for different leadership styles. The three major styles are autocratic, democratic, and laissez-faire. Bad leaders typically stick with one style” (Small Business for the 21st Century, 2014, Chapter 12, p. 7).
Please post a 250 word initial response to the following discussion topic by Thursday and post peer responses to at least two other students (across all themes) by Sunday.
In your own words, define each of the three basic styles of leadership. Then locate current real-world examples of each type of leader and discuss their strengths and weaknesses. These can be previous or even current employers (but please maintain their anonymity), small business leaders, well-known heads of massive conglomerations, etc. If applicable cite your sources of information. Finally, discuss the type of leader you believe you are or would like to be and why.
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