Essay on Helping A Friend With Business Planning

Essay on Helping A Friend With Business Planning

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Many companies fail because they did not plan their future. Investors must plan everything before they start their companies. They also must study the market and answer the three basic questions; what they are going to produce, how they are going to produce it and for whom they are going to produce it. Investors must also plan how they are going to run their companies and the rules and concepts they are going to use. Another thing investors must have or acknowledge is that they must have knowledge of how the systems and markets work. I will help my friend to start his company again and to make it one of the biggest countries in the world. I will increase his customer base, sales and profits.
The first thing I plan to go search for entrepreneurs with successful ideas and use these ideas to make the product that will has great success. Then I plan to answer the three basic questions of production. Then I will study the product to see if it will be successful in the market. I plan to see if the product has a lasting utility or a lasting capacity to be useful and provide satisfaction. Thus, I will try to make the marginal utility of the product go up and increase as you buy more of the product. Then I will turn to a very important aspect which must be solved before the company start to work, labor. I will plan to hire all kinds of labor; I will hire unskilled labor, semiskilled labor, skilled labor and professional labor. I will hire some professional labors to work on the machines that needs great experience and to manage the company, skilled labor to work on the machines that needs experience and do not need to be supervised all of the time, semiskilled labor to work with uncomplicated machines and unskilled labor to do the jobs ...

... middle of paper ...

...reak-event point; in which the company's total costs equals the total revenues, then the company will be losing a lot of money. I think that if this system is implemented at the company, the company will be successful and will make a lot of profits. I will even use a market demand curve, to show my friend the quantities demanded by everyone compared to all possible prices (I will even use it to determine the best price that suits the company and the customers or the consumers.
I think that this system will be very successful and will earn the company a lot of money and that the customer will be satisfied with the quality and the price of the product. I hope that I have benefited my friend and that he and his workers learned something useful about economics from me. I also hope that this system works and that it will be widely spread all over the world.

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