Business Essay Example for Free

Business EssayA. 1. As I began my journey as a new tune owner of a computer guild I needed to define my political partys goals, decide which direction I wanted to take the company to and create a mission statement that will crush represent my company. Since the company was new I needed to come up with something catchy and promising that would invite potential clients to find out more or so the products we offer. Since there were more participants in this game and from my professional experience I learned that staying on the same path and making advancements is more beneficial than onerous to transfigure directions every(prenominal) time. In this case I remained focused on the same two groups for the remaining 3 rounds. Instead of changing and adding more products every quarters like near of the other participants I kept my two models (one for each group) and made necessary corrections and modifications based on the market needs. I verified the requirements of each group, the priorities and the price range each client is willing to pay. Since there are no specific techniques used in this part of the art analysis I used my own judgment in making confident(predicate) that I create the best product with the items that are most Copernican 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% merely 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 deviation was the larger monitor and an upgraded keyboard. I added those options to my products and in the next round both products did very well. I had to make sure that in the nest round I keep up with the new upgrades and add them to my products to make sure that I keep up with the new technology. Even after making the upgrades the prices did not change a lot and the two groups still chose my product as o ne of their choices and my products were receiving 100% in both categories.Out of all the categories my market performance would produce larger results if I was not afraid in estimating more clients and produce more computers in both categories. Every quarter I ended up loosing clients and sales due to shortage in inventory. My market performance, marketing effectiveness and human resource management remained slightly low even though I was very close to my competitors. As far as my requital 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 bearinged markets I stick out selected because my decision was a success. I wanted to make sure that my company will have balance between high paying clients and not as much demand and those where the gets 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 public 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 qualified to survive my competition and climb up to the top.3.When it comes to the sales locations I selected I believe that I have through with(p) enough research to make a good decision. Since I have chosen Mercedes for scientific computers and general public I wanted to make sure that I cover 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 on with France in Europe. My next choi ce was Tokyo since they have the most advanced technology and I can use that as my selling point to picture more business. My last choice was South America even though the expenses were not as high but it is less(prenominal) 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 sure-fire 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 universal magazines since the fee was very high and I was concentrating on more common papers such as Science 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 clients and was scoring somewhat low on the adverti sing review.B.One of the most important decisions I made was to invest in international 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 lot 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. hardly because of that I decided to stand with competition face 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 considering the high number of less fortunate individuals. If investing in the international 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 possible 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 likely find another route to pass my borders.