9 Business Questions – Assignment Example
The Bureau of Labor Statistics compiles demographic data. Visit its site, http www.bls.gov/bls/demographics.htm and describe the different types ofinformation it provides. What kinds of changes are likely to occur in the United States over the next 25 years? Click on Time Use and read about the American Time Use Survey, which shows how people spend their time. What trends can you identify?
The types of information provided by the Bureau of Labor Statistic are Demographic Characteristics of Labor Force, Geographic Profile, Consumer Spending, Injuries and Illness, Longitude Studies, and Time Use. Demographic Characteristics of the Labor Force describes statistics concerning the employed and unemployed. Geographic Profile explains population statistics. Consumer Spending details spending habits by consumers. Injuries and Illness describes accidents, deaths, and illness when related to the job force. Longitude Studies deal with decades of information regarding the worker. Time Use is how workers spend their time. More people are working from home. A majority enjoyed watching T.V. in their leisure time. I believe these trends are going to grow with the economy, telecommuting, and new communication tools.
Read more about how the Consumer Price Index (CPI) is computed at the Bureau of Labor Statistics site, http://stat.bls.gov/cpi/. Look at the relative importance of each category included in the CPI. How well do these weightings match your own expenditures in each of these categories? What are some of the drawbacks of computing the CPI this way? Do you think these categories give a realistic picture of how most Americans spend their money? Explain your answer.
The categories for the CPI are:
FOOD AND BEVERAGES
EDUCATION AND COMMUNICATION
OTHER GOODS AND SERVICES
These categories do not represent my spending habits. I do not need medical care right now. My education is a little bit higher. I do not believe the CPI reflects all Americans. The CPI does not include rural America. The CPI takes around 7,000 families to form this list. Not all Americans spend like these 7,000 families.
Green Money Journal is a bimonthly on-line journal that promotes social responsibility investing. What are the current topics of concern in this area? Visit the archives to find articles on socially responsible investing and two areas of corporate social responsibility. Summarize what you have learned.
Click on the following link http://www.greenmoneyjournal.com
The current topics of concern are spending money responsibility. One way to accomplish this is to spend money locally. Instead of buying off eBay, online stores, or catalogs, this website promotes buying from a local store instead. The Green Money Journal suggests that to be social responsible, investments, purchases, and sales be simplified. Two articles that I read were about slow investment sustainability and investing in your own community. The first article was about make slow wise investments, instead of risky turnover high risk investments. The second article was about investing in disaster areas close to home.
Develop a checklist of questions to ask when buying a business (5-10 questions)
1. What is your profit rate?
2. What are your assets?
3. What does your inventory consist of?
4. How much liability do you have?
5. How many years have you made a profit with this business?
Summarize several ways that businesses arrive at the sale price (mention 3 or more ways)
The textbook refers you to a specific website but you are welcome to search the Internet for the information. There are several excellent websites available to complete this assignment.
Sale prices can be determined at the company level, industry level, and transaction level. After appraising the cost of the item, or determining how much a product costs to make, businesses can set prices so a profit is made. On the industry level, prices are created to be competitive. For example if a Coca Cola sells for $1.00, than Pepsi Cola tries to have a similar or competitive price. Individual transactions are based on making a profit. The profit could be as little as 1 cent to $1,000.
Get some leadership tips from 7 Steps to Closure at the Learning Center, http://www.learningcenter.net. Complete the Closure planning form to develop your own personal Success-Oriented Action Plan.
I completed the Closure at the Learning Center. I learned that one of my issues with closure is procrastination. I tend to put things off until the last minute. This prevents me from having closure. The other issues I do not have problems with.
Visit the web site of one of the following major U.S. public accounting firms: Deloitte & Touche, http://www.deloitte.com; Ernest & Young, http://www.ey.com; KPMG, http://www.kpmg.com; PrinceaterhouseCoopers, http://www.pwcglobal.com; Grant Thorton, http://www.grantthorton.com; or BDO Seidman, http://www.bdo.com. Explore the site to learn the services the firm offers. What other types of resources does the firm have on its web site? How well does the firm communicate via the web site with existing and prospective clients. Summarize your findings in a brief report.
Grant Thorton offers auditing, tax, and advisory services. The graphics and resources are attractive to a prospective client. These tones convey competence. The first screen is about eradicating corruption. Under a tab called Grant Thorton Thinking, the company’s views and thoughts are made clear. This company seems to be an ethical business that wants to help my business be more important.
Research the latest developments in computer technology at Computerworld’s web site, http://www.computerworld.com or research other web sites. If using another web site, please note the web address where you found the information so others can read more. Technology is an ever changing topic. Share with the class in your discussion post an interesting find that will impact the business world of today.
The new iPad is the newest Apple tablet. It is thin, but has Internet capacity on AT&T 3G network. Any other network was not made to be used with iPad and slows down the Internet access considerably. This innovation is important to business. Instead of waiting to have a computer connection, the iPad is for business people on the go.
Using Financial Information and Accounting, you have had a brief introduction to accounting and financial information. Not all students in this class plan to be accountants and don’t plan to work in the accounting departments, but why would it be necessary for all business professionals to have a basic understanding of accounting and financial information? Considering a variety of positions, how will some professionals indirectly use the basic knowledge of accounting and financials? In other words, how will the knowledge gained in this chapter be used and/or beneficial to you? What are your thoughts?
This information will be useful because financial knowledge is necessary in the business world. Inventors need to know how to cut costs on their inventions. Secretaries must know about financial costs and how to keep them down. Business is about making money. Without the basic financial knowledge, all employees of a business would not be aware of how to make their business more profitable.