Business Studies Question (1 Viewer)

[atar90plus]

Hello
I want to ask you guys a question relating to business: If you had any type of business what are your social, personal and financial goals in relation to that business

 

[powlmao]

That is very broad.

Care to define more what you want

 

[SuperHornet]

financial- Profit maximisation, increased market share
social- good reputation achieved through community sponsorship and environmental sustainability of business operations

 

[uniquee]

Financial: Profitability
Social: Large Customer Base, Reputation.

 

[krnofdrg]

Hello
I want to ask you guys a question relating to business: If you had any type of business what are your social, personal and financial goals in relation to that business

Personal- What am I going to get out of this business? (Would it help me advance my career). For example, many people get jobs at some firms as a stepping stone to get into much more prestigious firms.

Financial- Profitability (Main goal for shareholders and owners), Liquidity, Return on Capital, Growth and Solvency?

Social- Well being for society, Environmental sustainability, Well being for my employees and also stakeholders

 

[atar90plus]

Well the question is relating specifically on a tutoring business

 

[uniquee]

Well the question is relating specifically on a tutoring business

Then personal: Ensure that my students are getting the most out of my service, do whatever I can do to help them maximise their marks.

 

[atar90plus]

How about improving customer service? What category does it fit to ?

 

[powlmao]

How about improving customer service? What category does it fit to ?

All three really.

Social- It is the right thing to do by your customers
Personal- You want to be close to your customer
Financial- It will increase your profits in the long term

 

[atar90plus]

Another goal that I thought of is for teachers to have a relationship with the students so like the students are not scared to ask questions if they need help or to make the students feel enjoyable to come to the tutor place and not leave. So what do you guys think and if it is good what category do you think it may go to ie: social, personal or financial.

 

[atar90plus]

Just to let you guys know, the tutor is James An college parramatta that these Q's are based on

 

[uniquee]

Another goal that I thought of is for teachers to have a relationship with the students so like the students are not scared to ask questions if they need help or to make the students feel enjoyable to come to the tutor place and not leave. So what do you guys think and if it is good what category do you think it may go to ie: social, personal or financial.

wouldn't that be a personal goal?

 

[atar90plus]

Ok Thanks. Another question that I am stuck with : Identify the location of the business and an explanation is to why the location was chosen?

I am a bit stuck for this question because first of all the business is a franchise and then so I spoke to the manager at James An Parramatta and he said the people he dealt with gave him a few locations to choose from and he just picked one out. So I am not really sure what to right for this question and the word limit for this question is 150 to 200 words

 

[uniquee]

Ok Thanks. Another question that I am stuck with : Identify the location of the business and an explanation is to why the location was chosen?

I am a bit stuck for this question because first of all the business is a franchise and then so I spoke to the manager at James An Parramatta and he said the people he dealt with gave him a few locations to choose from and he just picked one out. So I am not really sure what to right for this question and the word limit for this question is 150 to 200 words

does it have to be factual?
or can you make it up, if so just say "center of economic life in parramatta, there are no competitors close by, thus there will eventually be customers inquiring on what James An, offers" etc.

 

[OzKo]

Ok Thanks. Another question that I am stuck with : Identify the location of the business and an explanation is to why the location was chosen?

I am a bit stuck for this question because first of all the business is a franchise and then so I spoke to the manager at James An Parramatta and he said the people he dealt with gave him a few locations to choose from and he just picked one out. So I am not really sure what to right for this question and the word limit for this question is 150 to 200 words

Parramatta is a transport hub for Western Sydney. Evidently it is easier to pull in students who aren't local because of accessibility.

 

[atar90plus]

Well yes. But I do not think the teacher will bother checking with the owner coz there is like 22 people in our class doing different businesses

does it have to be factual?
or can you make it up, if so just say "center of economic life in parramatta, there are no competitors close by, thus there will eventually be customers inquiring on what James An, offers" etc.

 

[atar90plus]

Just want to ask: What is market Share/

 

[OzKo]

Just want to ask: What is market Share/

What % of the targeted consumer base are customers?

 

[atar90plus]

What is an example of a marketing mix for a tutoring business?

 

[uniquee]

The 4 P's you should be able to do it.