Question 1:- Write a mission statement for a business that you would like to start. The mission statement should state the area of business you will be in and what aspect of the business you value highly. Also find two company mission statements. Answer: A mission statement for a self-startup business. EUPHOTECH: To supervise all your mapping issues from introducing to implementation of the project. It gives a simple access to non-specialized individuals to be acquainted with innovation and come closer to virtual products & motivate them to start their own business in technical field. Two company mission statements are as follows: GOOGLE: To organize the world’s information and make it universally accessible and useful. NASA: To pioneer the …show more content…
Create numeric cost estimates for each of the costs you listed. Calculate the net present value and return on investment. Include a break°even analysis. Assume a 10 percent discount rate and a five-year time horizon. Answer: One Time Expense Worksheet Website Launching Project Cost Initiation Cost $3000 Design & Development Cost $2000 Requirement Gathering $1000 Software tools / Domain Cost $4000 User Guidance $1000 Frontend & Backend Requirements $4000 Hardware $1000 Supplementary items 0 Total One Time Expense:- $16000 Recurring Expenses Website Launching Project Cost Application Software Maintenance $3500 Additional Data Storage $2000 Cumulative Correspondences – Client communications $3000 New Software or Server or Hardware leases $2000 Materials $1500 Supplementary items
Likewise, a quote in an article regarding mission statements, in my opinion, sums up the idea of what a mission statement should be about perfectly; “Mission statements usually provide a lighthouse that the company culture can look back to when the company loses track of itself” (Reeves, 2015).
A mission statement express the core purpose of an organization and its reason for existence. Mission statements are vital to an organization because they communicate and set the foundation of the purpose of their existence. They shape the attitudes and behaviors of the members of the organization and the perceptions of the public (Hess, 67).
A mission statement should define the organization, why they exist, who they are serving, and what products and services they offer (Aguinis, 2013). Aguinis (2013) includes eight components for a good mission statement. These components are products or services offered, customers being served, benefits to their products or services, technology being used, growth and profitability, managerial philosophy, public image, and self-concept of business by the employees and stockholders (Aguisis, 2013).
Objective 1: Improve services in the region area where the nonprofit organization is located by 40% by the end of the year. The health services within the organization needs improvement. To evaluate, we will need to determine how much funding available to improve services and to order new medical equipment. Each facility administration will keep account of the number of medical equipment supplies over the course of each year. Each facility will need to be addressed and examined to see what the needs are in each facility. To measure improve services, we will have surveys to give to the patients and families to ask how they feel bout new current healthcare services. The improve services will have better hands on medical help and quality and efficient medical technology equipment. Data will be
The allowances given were underestimated and there wasn’t enough money budgeted to cover the amounts of the actual bad debts, 6% was too small.
MANEKA WEERASINGHE - BSBPMG522 - TASK 1 - DETAILED PROJECT PLAN Project 1 (part B)
A mission statement is a powerful message that companies or organizations set to be the focus and reason behind why or how they manage things. They are used to help their potential members, employees, or buyers understand their passion. It is of great importance that the mission statement is upheld or it becomes ineffective. These statements are written differently, but they are used for the common objective. The mission statement at Spring Hill College is a well written statement that uses effective style, has a clear focus, and can be interpreted by a varying audience.
Everybody that is in business is there to make a profit (some firms are just tax shelters) and there are only so many products and services available. What sets the competition apart is how they execute their business practices. This is where a mission statement becomes the “blueprint” for doing business. “The mission statement needs to be longer than a phrase or sentence, but not a 2-page document” (David, 2003). This document not only points the managers in the right direction, it also gives the employee a sense of why they are working for this company. In addition, the mission statement not only gives purpose and direction, it should also give motivation and pride not only to the employees of the company but also their customers. The bottom line in any business is to make a profit and in order to do this; the business must find a way for their customers to spend money in their firm. Whole Foods Market ® incorporates many of the guide lines discussed in the readings; however, their mission statement exceeds the two page recommended length.
Emotional intelligence is a new way of thinking about success in life and especially in leadership. Emotional intelligence (EQ) is the ability to identify, use, understand, and manage emotions in positive ways to relieve stress, communicate effectively, empathize with others, overcome challenges, and defuse conflict. Emotional intelligence impacts many different aspects in daily life, such as the way we behave and the way we interact with others. The benefits of higher emotional intelligence are it easier to form and maintain interpersonal relationships and to fit in to group situation. And it’s also better of understanding their own physiological state which can include managing stress effectively and being less likely to suffer from depression.
Discounted Cash Flow Method takes the forecast free cash flows during forecasted horizon. Then we estimate the cost of capital (weighted average cost of capital) and estimate continuing value (value after forecast horizon). The future value is discounted to the present value. We than add back cash ($13 Million) and non-current assets and deduct total debt. With the information provided several assumptions had to be made to obtain reasonable values (life period of 30-years, Capital expenditures not to exceed $1 million dollars, depreciation to stay constant at $1.15 Million and a discounted rate of 10%). Based on our analysis, the company has a stand-alone value of $51 Million at the end of fiscal year end 1990 with a net present value of cash flows of $33 million that does not include the cash and non-current assets a cash of and non-current assets.
Does the mission statement include the four items listed as part of a good mission statement? For each of the four items, tell how the company has addressed the item in its mission statement.
This project belongs in the engineering-efficiency category; therefore, it has to fit at least 3 of 4 performance hurdles, which are 1. Impact on EPS; 2.Payback; 3.Discounted cash flow and 4. Internal rate of return.
Obviously, this case aims to evaluate Joanna’s analysis. Throughout the analysis, we will estimate the cost of debt, cost of equity, and cost of capital through different financial analysis models.
Star Appliance is looking to expand their product line and is considering three different projects: dishwashers, garbage disposals, and trash compactors. We want to determine which project would be worth doing by determining if they will add value to Star. Thus, the project(s) that will add the most value to Star Appliance will be worth pursuing. The current hurdle rate of 10% should be re-evaluated by finding the weighted average cost of capital (WACC). Then by forecasting the cash flows of each project and discounting them by the WACC to find the net present value, or by solving for the internal rate of return, we should be able to see which projects Star should undertake.
To test the financial feasibility and plan acceptability, there must be information on the magnitude, and share of estimated project cost that are reimbursable. This information can be derived from cost allocation. Also where cost sharing is required in the multipurpose planning process cost allocation can be applied. Cost allocation also provides information necessary for allocating the real expenditures ensuring that the cost account are maintained in line with plan formulation and allocation principles during the subsequent c...