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Breaking Down M Business

In: Business and Management

Submitted By watsdeiz
Words 688
Pages 3
Breaking down My Business
Deizjane Watson
American Intercontinental University

In this paper the author will describe the organization. He will describe the basic legal, social and economic environments of the organization. The author will describe the management structure. Also, he will describe the operational and financial issues. Finally the author, will identify the impact of the potential change factors including the role of technology.

Breaking down My Business
I have chosen to write about my clothing boutique “Placar”. Placar is a boutique that sells unique business clothing. The store is designed to catch the eye of the fashionable business individuals. It is a smaller, unique New York and Company.
The basic legal environment is a sole proprietorship business. There is one owner who accepts all profits and loss of the company. The business and owner’s personal tax return are one and the same. If the owner decides to sell there are no meetings held because the owner makes all of the business decisions. The owner is consider the business.
It is a neighborhood business staying trendy is the most valuable method for the business to remain ahead of the game in the social environment. Staying aware of all the national, state, and city laws and policies of buying and selling merchandise is what it takes to avoid legal challenges. Knowing the competition’s rates and what sells well is an economic tool.
The store operates hours are 12p to 8p, 5 days a week. There are 3 employees, 1 full-time, 1 part-time, and a manager. The manager is there throughout the shift daily, the full-time employee is there daily, and the part-time employee is available for call-ins and days off for the full-time employee. The manager ensures pricing is correct, new clothing is displayed, old clothing is placed on sale or given to charity organizations, and employees are maintaining a professional demeanor while at work.
Management ensures all employees go through training classes. All employees have to take customer service classes to gain knowledge on new selling techniques, influential or suggestive sells, and dealing with irate and indecisive customers. There is a monthly meeting given to provide the employees with feedback on the progress being made as sales representatives.
The financial issues are any profits or loss incurred by the business, the owner is accountable for. All unsold merchandise are a loss for the company. The good thing is by giving the clothes to a charity organization the owner is getting of the money spent back. When merchandise is damaged that is a loss, unless the merchandise was damaged upon arrival to the store.
The business has several potential changes that can affect the absolute bottom line. The social effects are not staying in tune with the new trends. The legal entities are not being aware of changes in laws, especially new small business tax laws. The economy can play a major role in the outcome of the financial year for a business. If there is a decline in the jobs, there is no money for luxuries. Politics play a part when the United States decides to stop doing when business with specific countries. A lot of merchandise is bought and sold in other countries. Technology plays a major role because most orders are placed through the internet if there was a problem with orders being placed electronically, it would drastically effect the business.
In conclusion, Placar, is designed to catch the eye of the fashionable business individuals. The basic legal environment is a sole proprietorship business. It is a neighborhood business staying trendy is the most valuable method for the business to remain ahead of the game in the social environment. The manager ensures pricing is correct, new clothing is displayed, old clothing is placed on sale or given to charity organizations, and employees are maintaining a professional demeanor while at work. Management ensures all employees go through training classes. The financial issues are any profits or loss incurred by the business, the owner is accountable for. The business has several potential changes that can affect the absolute bottom line.…...

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