Dilemma through ethics:
After being in captivity for more than two weeks a whale has killed its trainer, the Sea World parks and Entertainment also is waiting for getting rid of this dilemma of handling the asset it has. The Orcas has been classified as big business. A combine visitor list of 12.2 million is seen at the San Diego, Sea Worlds, and San Antonio. Here the animals are a huge investment process. If a killer whale can get you with $10 million in the open markets but still a long period of experience is needed for making the perform at the Orcas. What is your thought for this? Is there any kind of ethical thinking involved with this organizational asset? Which factors are affecting these decisions?
Exercise for skill test:
Develop your skills for business planning:
All about the skill:
Business plan play a very crucial role for any kind of business enhancement or its startup. It shows how to spend for any business with how to do all the work.
Steps for practicing these skills:
- Describe what are your organizations background and also their purpose of establishment. A brief history would work well for these and what is unique about the organization. What are your products and how to use them all should be mentioned there.
- Identify the goals that are for shorter or longer periods. For any of the organization three criteria’s need to be fulfilled including creation, profitability and survival. Some of the objective would be sales, marketing shares, and quality of products, morale, and responsibility. Make probable ways that could help you to find how to achieve these goals and what the objectives of your organization are.
- Make a market analysis. You should be able to make the readers capable of understanding what you are doing for them. In fact this will be a show of all competitive pressures. Here you can easily describe about the trends of markets and how to compete. Also the SWOT analysis will be performed here.
- Describe the production and developmental emphasis. It gets vital to share how your products will be produced. Put frames that show the start and end time. It gets vital for you to find the list of difficulties for better costing at each stage. If you provide any explanation then it gets even easier.
- How to market the products make the description. Find the selling strategy and how to approach the customers with the products. Here in the section you will describe all about terms of services with their advantages. Thus it would be exploitation for your competitors. With major focus on the market you would easily be able to forecast upon it in detailing. How much can you capture with better costing.
- Put all financial statements together. Investors are well excited for knowing the bottom lining of your business. For every section you would be able to keep the updates of profit and loss. For this a cash flow diagram needs to be included for balanced sheets. Financial sections should have start up costing with financial strategy. How to make use of funds and other financial sources should be mentioned there.
- Provide overviews of the organizational business. Summarize the education, experiences and qualifications after identifying the keys. This would help to find their positions. Also explain about their salary earning process. Identify the names that are helping the organizations management. Show a situation of how to deal with employees. How the employees are been paid and how they perform their work?
- Describe what kind of business this is. Identify what kind of business is its either partnership or corporate sector based. It depends upon the legal’s forms of what quality of business are these?
- Identify what type of risks you are facing at organization. Here with this section it gets vital for you to learn what kinds of problems are arising. For example, if your sales forecasts are not meeting then? Problems with the suppliers, inability of qualified hired, quality of products being poor, and so on. Readers are in need of contingency planning for resolving problems.
- Whatever is your business plan just put them together. The information that you have accumulated from the previous sections put them together for better organized documentation. For the plan of business there should be a cover page containing the business name, address, person’s contact number, and reaching out contact. Along with this the page must also have establishment date for the business. The next page should be for contents with listing of locations and subsection of business goals. It is vital for you to make use of proper outlines for techniques. First section is always critical for business plan as this would be read by the readers first. If this is done wrongly then readers won’t be excited to read them ahead. With the page of summary you should keep the summary more entitled with details of company and the competition within markets, financial histories. Next section must have details about researched items by the business mentioned in steps 1-9. After this close the section of plan with perfect highlights of business. Later add all the photographs and Exhibits of your business plans for further development.
Practice the skills:
If you have a great business idea then do create plan on a blank sheet of paper. Choose below mentioned services and start listing the prices and marketing strategies.
- Make house calls for haircut.
- Snowboarding computer games for Olympics
- Rental lists for apartments
- House alarm with vice.
Choose different product and identify the list of critical risks along with other contingencies.
Mission of organization is only a commitment or just a promise? Find answers to these by forming groups of three or five members. Firstly evaluate those missions and then compare those listed in Exhibit 9-2. Describe the effective missions carefully and why are you doing so explain. How to rewrite the statements? Second work is to make use of mission for describing the competitive and corporate strategy types. Also explain the reason why are you making those as your preferred choice?
It’s my turn of being a manager:
- It’s better to have a choice of performing SWIT analysis. This will help you find your weakness and strength and check where you are good at. What you are not good for and how do you enjoy any task? These are the organization aspects that will help you find your interest for any particular work. In fact you could also check the statistics of Bureau Labor. After this information one can easily write their plan for career and achieve goals profitably.
- Find the examples of both corporate and competitive strategy for current business. Write a description of how the business is going on and how to represent strategy.
- Choose five names of company that are latest and then research upon those companies for mission statements, goals of strategy and there list of strategies being used.
- Follow the Steve’s and Mary suggestions. This would include How to Grow Whenever the markets Don’t go well, Adrian Slywotzky and Richard wise, Why do few company make leap, Michael E Porter, James C. Collins along with Jerry I. Porras, and Gary Hamel, Competing for future.
- Strategies like the customer services, innovations and e-businesses are all very much important for the business. These are described clearly within the chapters with specific strategies. Find a specific example for the strategy based approaches. For example if the customer services is being chosen then check what the customers want, how to communicate effective manner, and provide your employee with training on how to serve customers.
- Write down about three most vital things being learnt here in the Chapter.
- A powerful learning kit is the self-learning and gaining of knowledge. Thus visiting this site myhomeworkhelp.com will serve you with enormous exercises or work. This will tell you how well you can handle ambiguity, be creative, and respond towards things carefully with the help of your results. Thus you will understand about your weakness and strength level.