Business Essay Example for Free

Business EssayA. 1. As I began my journey as a new business owner of a computer company I needed to define my companys goals, decide which direction I wanted to take the company to and create a mission statement that will outflank represent my company. Since the company was new I needed to take after after up with something catchy and promising that would invite potential nodes to find out more about the products we offer. Since thither were more participants in this game and from my professional experience I learned that staying on the same course and making advancements is more beneficial than trying to change directions e genuinely time. In this case I remained concentrate on the same two groups for the remaining 3 bikes. Instead of changing and adding more products ein truth quarters like most of the other participants I kept my two models (one for each group) and made necessary department of corrections and modifications based on the trade needs. I verified the requ irements of each group, the priorities and the price range each client is willing to pay. Since there are no specific techniques mathematical functiond in this part of the business synopsis I used my own judgment in making sure that I create the best product with the items that are most consequential to the potential client group.As stated above I initially created two products (one for each group) and after the first round they both passed 70% unless in the scientific group it was non chosen as one of the best. In the second round I was given an option of reviewing products of my competitors and the only difference was the big monitor and an upgraded keyboard. I added those options to my products and in the next round both products did in truth well. I had to make sure that in the nest round I take a shit up with the new upgrades and add them to my products to make sure that I keep up with the new technology. level after making the upgrades the prices did not change a str ia and the two groups still chose my product as one of their choices and my products were receiving 100% in both categories.Out of all the categories my market performance would produce heavy(p)r results if I was not afraid in estimating more clients and produce more computers in both categories. all quarter I ended up loosing clients and sales due to shortage in inventory. My market performance, trade effectiveness and human resource management remained slightly low make up though I was very close to my competitors. As far as my salary package I paid my employees the most but I only contributed 2% of their salary versus 5% that everyone else was contributing. I believe that salary is more important than the retirement contribution. I upgraded health benefits but kept the contribution the same.2.I would not change the targeted markets I have selected because my decision was a success. I wanted to make sure that my company will have equilibrise between high paying clients and no t as a great deal demand and those where the profits are not as high but the demand is much higher. My analogy was right on target because with the Mercedes I was making higher profit but the number of machines was not as high as the market for general domain where the profit was significantly lower. After being chosen by both markets as a preferred factory I had to make sure that I am keeping up with current technology and by adding extra features the price difference is not too high so that I would loose my lower profit clients. With that business idea I was fit to survive my aspiration and climb up to the top.3.When it comes to the sales locations I selected I believe that I have done complete research to make a good decision. Since I have chosen Mercedes for scientific computers and general public I wanted to make sure that I coer United States since Mercedes mainly operated in the US and their main headwaters are in Germany. Therefore I chose NY as one of the first offices along with France in Europe. My next choice was Tokyo since they have the most advanced technology and I can use that as my selling point to generate more business. My last choice was South America even though the expenses were not as high but it is less demanding since the poverty is significantly high. As expected, choosing my locations in this order was a success.4.Marketing research could definitely be improved since I was not as prosperous as I was hoping to be. Most of my business was coming from direct sales and not as much from other advertising. I did not want to invest large amounts of money on the usual magazines since the stipend was very high and I was concentrating on more common papers such as scientific discipline Magazines and business papers. Maybe I should have been more adventurous and invest in more popular magazines but I was afraid that I would suffer financially. Also I was not able to come up with a very catchy advertising line to attract potential clie nts and was scoring or so low on the advertising review.B.One of the most important decisions I made was to invest in foreign markets. Since Mercedes is from Germany and its factories are in the US I felt as investing in a European market would be a good idea simply because I come from Europe and I know that Mercedes is in demand as well as there are a sell of companies in need of a highly developed machine that can make their discoveries and creations a lot easier. I was a little hesitant about opening offices in Tokyo since their technology is very advanced and cost is very high. But because of that I decided to stand with competition flavour to face and use this to my advantage.By creating same quality machines for a little lesser cost I was able to survive and beat most of my competition. South America had smaller expenses but the demand was not very high directing the high number of less fortunate individuals. If investing in the outside(a) markets required large funds I would concentrate on the US market and possibly South America. Unless I discovered high turnaround and my enthronisation would not affect my companys future I would consider this option.Throughout my entire game I was very cautious and I was afraid of heavy investment simply because my funds were very limited and I did not want to jeopardize my company over greed and quick wealth. After reviewing my financial reports I was able to determine if additional investment is workable and how my this would effect the company overall. Heavy investment would depend on how the financial statements looked, careful review of the international markets and position of the company in the global market. If the company would not be as successful at the end of the 4th quarter as I wanted it to be I would most apt(predicate) find another route to expand my borders.