Creating, Financing, and Marketing a Business Research Paper

Creating, Financing, and Marketing a Business - Research Paper Example With such a well diversified blend of people coming in to operate the business, a lot of costs can be saved in hiring other people to do these kinds of technical work for them. Moreover, in the case a loss occurs in a partnership, not all of it will be taken by a single person like in the case of sole proprietorship. Here, each partner will be liable to the maximum amount of their investments (or if agreed otherwise) they have made. Partnership also have a lot of cons. In case of partnership, often time the agreement are framed in such a way that if any one partner leaves, the entire partnership / business needs to be would up. This is one of the major problems in partnership as a mode of ownership. Yet another very important con is that there may be differences in views of partners as how they want to carry out the business or resolve a particular issue. In such case, usually voting is carried out to determine a way out. This would mean there would be several partners who would have to agree to something against their wishes. Funding Options For Small Business There are a lot of possible ways which small businesses can use to fund their operations. The options include debt financing, grants, equity financing, loans from friends and family, business angels or angel investors as they are better known, venture capitalists and strategic investors. A few of these sources re discussed in more detail below. Almost all small businesses finance their operations via loans taken from financial institutions. These loans are often easy to take come with a repayment schedule an interest rate that is decided upon at the time of cracking the deal. The plus side of debt financing is you don't have for equity financing, thereby you'll solve equity issue expenses. Secondly, getting a debt is pretty much an easy option as compared to floating a company's shares on the stock market. Government grants can also be used to fund the operations of small businesses. These grants are usu ally offered to businesses in the research and development side and those working in the technology sector (McCaffrey, 1992). Its benefits include the fact that this is literally free money that doesn't need to pay back and investors love the boost that such grants provide. On the negative side, the use of grant money is often dictated by the government and it cannot be used for anything else. How Managerial Accounting Can Help Managers With Product Costing, Incremental Analysis And Budgeting Managerial or cost accounting deals with costing techniques. It is generally concerned with providing price sensitive information to decision making managers, as they're the people who are responsible for product costing and control operations. Managerial accounting can help managers with to determine cost units and allocate them to different cost centers. Once all these cost units have been allocated to different cost centers, then the total cost per unit can be determined and hence product co sting becomes easier. Managers generally make decision by selecting between different alternatives available to them. Since a lot of information is available when deciding product costs, decision making becomes a much easier process when they only examine the amounts that differ between different decisions and make a decision accordingly. In such cases differences only occur between relevant costs, and they're the ones that need to be considered in incremental analysis since non

Making Invisible Work Visible by Andrew Parker, Rob Cross- Article Essay

Making Invisible Work Visible by Andrew Parker, Rob Cross- Article Analysis - Essay Example The researchers strive to present the recommendations for the firms through which they can attain better support work occurring in informal network of employees. The recommendations are based upon the research work conducted among a consortium Fortune 500 companies and government agencies. The researchers assessed collaboration and work in almost 40 information networks created within 23 different entities. The provided strategic and operational values are studies to find out their role in allowing the employees to collaborate and integrate their expertise with the organization. The article basically assesses and supports the information network and examines their significance for the organizations. The author believes that the informal social networks allow the employees to deeply understand and reflect the working patterns of the organization in much better way than the employees working in formal structure. The informal special networks however remain invisible and sometimes the m anagers fail to understand the problems developing within the firms. The authors also describe the background of the evaluation of the social networking techniques and inform that the idea sociogram is credited to Dr. J.T. Moreno who has been regarded as the inventor of social networks. He paved the way towards new approach of social structure and presents the concept of role and position. The article also stresses upon the importance of informal social network in the context of management challenges in globalization era. The informal networks are influenced from the information design of the organization whereas physical proximity and nature of the work also determine the structure of informal social networks maintained by the organization. The researchers also identified three specific areas where they believe that social network analysis is uniquely effective. These areas include "promoting effective collaboration within a strategically important group; supporting critical junctu res in networks that cross functional, hierarchical, or geographic boundaries; and ensuring integration within groups following strategic restructuring initiatives† (p28). The researchers found that social network analysis is a powerful and effective managerial tool that perform wide array of functions for the organizations. The patterns of information sharing within and across the networks also became visible through the social network analysis (SNA). Moreover, SNA allows identifying and solving the issues and problems being faced by the group of people within the organization. The specific behaviours of the employees could also be studies better and all this understanding allows taking the appropriate steps for improvement of group efficiency and effectiveness. There is wide variety of benefits of social network analysis identified by the researchers. They explain that information networks also support the employees' job satisfaction and performance that ultimately benefit t he overall productivity of the firms. It is very important for the management to understand the importance of social network because it the highly competitive market place they cannot rely upon the traditional networks and require the support of information social network to foster the process of communication with the employees and to avail wide range of benefits of informal social networks. The authors conclude that the present era is marked with