Business Location and Engineering Project Study
Business Location
Objective
To achieve a competitive position based on lower transport costs and speed of service.
Selection of Alternatives
The selection process is divided into two stages:
Macro Location Study
This stage involves identifying the general area where the plant will be located, considering factors such as:
- Consumer market and sources of raw materials
- Availability of manpower
- Physical infrastructure and services (water supply, waste disposal, electricity, etc.)
- Economic and institutional framework
Micro
Read MoreResearch Methods: A Comprehensive Guide to Data Collection Techniques
Research Methods: Data Collection Techniques
Qualitative vs. Quantitative Research
Traditional vs. Online Focus Groups
Traditional focus groups involve 8-12 participants, while online groups have 4-6 due to platform limitations. Online groups offer advantages like increased honesty, faster turnaround, and lower costs. Traditional groups allow for observing non-verbal cues and using physical stimuli. Moderator skills are crucial in both settings.
Direct vs. Indirect Research
Direct research openly reveals
Read MoreMastering Personal Selling: Building Relationships and Adding Value
Personal Selling: Building Relationships and Adding Value
Understanding Personal Selling
Personal selling involves direct interaction between a company representative and a customer or prospect to present information about a product or service. It’s crucial to adopt a marketing concept that values personal selling and positions the salesperson as a problem solver and partner.
Evolution of Selling
Advancements in information technology and e-commerce have significantly impacted selling. Information is
Read MoreInventory, Fixed Assets, and Intangible Assets Accounting: A Comprehensive Guide
Chapter 7: Inventory
Periodic vs. Perpetual Inventory Systems
Periodic Inventory System: Inventory purchases are debited to a Purchases account.
Perpetual Inventory System: Inventory account is debited for inventory and credited when goods are sold, transferring the cost to Cost of Goods Sold.
Inventory Costing Methods
FIFO (First-In, First-Out): Assumes oldest costs are sold first, leaving newer costs in ending inventory.
LIFO (Last-In, First-Out): Assumes newest costs are sold first, leaving older costs
Read MoreAudit Procedures and Considerations
Case 1: Client Acceptance and Risk Assessment
Client Acceptance Factors
Integrity of Client Management: Evaluate the honesty, ethical values, and reputation of the client’s management and ownership.
Nature of the Client’s Business: Understand the industry, operations, and business practices of the client.
Financial Health: Review the client’s financial stability.
Independence: Assess any relationships that could threaten the auditor’s independence.
Auditor’s Expertise: Determine if the audit firm has
Read MoreOnline Shopping: Convenience vs. Challenges
Online Shopping: A Double-Edged Sword
Advantages of Online Shopping
Convenience
Online shopping offers unparalleled convenience, allowing you to shop from home at any time.
Variety
Access a vast array of products from around the world, beyond local limitations.
Price Comparison
Easily compare prices across retailers to find the best deals and save money.
Accessibility
Provides accessibility for individuals with mobility issues or those in remote areas.
Challenges of Online Shopping
Lack of Tangibility
Inability
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