Importance of Business Mathematics in Mba Essays

Importance of Business Mathematics in Mba Essays Importance of Business Mathematics in Mba Essay Importance of Business Mathematics in Mba Essay The Community Development Transportation Lending Services, Inc. , CDTLS Insert your Business Logo Here (if you have one) Insert Your Business Name Here Phone Number Here DATE Table of Contents Purpose Statement1 Executive Summary1 Business Information1 Personal Financial Statement1 Business Description2 Business History2 Personnel and Organization2 Marketing Information3 Market Analysis3 Market Research3 Competitors4 Market Segments5 Target Market5 Marketing Mix Strategy5 Products/Services5 Promotions5 Distribution6 Pricing6 Suppliers6 Marketing Goals6Financial Information6 Use of Loan Money7 Start-Up Costs7 Profit and Loss Statement7 Cash Flow Information8 Balance Sheets8 Revenues vs. Costs8 Financial Projections8 Assumptions8 Growth Projections 9 Appendices9 Purpose Statement State the purpose of your business: what products you intend to manufacture, what services you intend to provide, and so on. Give a list of your goals for the business, with measurable, definite outcomes. Explain how you’ll measure your progress on each goal. * First goal, dates, measurements * Second goal, dates, measurements * Third goal, dates, measurementsIf you are starting a business and need to borrow money, state the amount of loan money you need, how much capital you have, how long you’ll need to pay the loan, the purpose of the loan, the results of the loan, and the collateral you’re putting up. Executive Summary Give a brief, concise overview of your business plan, including the company’s name, location, history, management, products, growth projections, and so on. Give the name, address, phone number, fax number, and e-mail address of a contact person inside your company. Business Information In this section you’ll give an overview of your business.Give your company’s name and location. Describe the building (you can also include a scanned photograph of it). State the nature of the business and what kind of business it is (partnership, private, public, whatever). Give the anticipated date the company will be open for business. List the names of the owners and how to contact them (addresses, phone and fax numbers, e-mail addresses). Personal Financial Statement If you are starting a business, briefly explain your current finances. You will need to include the last 3 years’ personal tax returns and authorize the lender to obtain a personal credit report.Business Description Give a detailed account of your business. List and explain the good characteristics of your business that will help you succeed. * First characteristic * Second characteristic * Third characteristic List the hours your business will be open. Give a brief overview of how you see daily operations running. Explain your accounting processes and quality-control systems. The types of information you give depend on what kind of business you run. Business History Give a history of your business. Who founded it and when? Why? Give the purchase or startup prices and reasons.Explain the market growth or sales trends that made this business possible. Personnel and Organization Overview the organization of your business. Explain how many people work for the company, what their job descriptions are, and their qualifications. You may want to include employee’s resumes. Explain your training and advancement programs. List departments/divisions, and so on, with responsibilities, and numbers of employees. * First department, responsibilities, # of employees * Second department, responsibilities, # of employees * Third department, responsibilities, # of employeesMarketing Information In this section you’ll describe the market your business competes in and your strategy for competing. Fill this in completely, as it can help you keep your goals in mind as you proceed with your business. Market Analysis Give concrete information about the market you intend to compete in: current situations, trends, projections [pic] Market Research Explain the market research you’ve done about each product and/or service you intend to provide. Give and explain industry analysis, customer information, and market share and suppliers. CompetitorsGive the names, locations, sales, and market share of your competitors in this market. [pic] List the competition’s strengths and weaknesses. Strengths * Competitor’s strength * Competitor’s strength * Competitor’s strength Weaknesses * Competitor’s weakness * Competitor’s weakness * Competitor’s weakness List your business’ strengths and weaknesses, and the advantages your business has. Strengths * Our strength * Our strength * Our strength Weaknesses * Our weakness and how to overcome it * Our weakness and how to overcome it. * Our weakness and how to overcome it. Advantages First advantage * Second advantage * Third advantage Market Segments Describe the market segments you plan to compete in. Give the demographics, geographical areas, and other information about the customers you want. Match your products’ features to the customers’ needs and wants. Target Market State the primary market you want to compete in. Give the demographics, geographical areas, and other information about the customers in that market. Describe and profile the businesses you want to sell to. Marketing Mix Strategy Give a narrative description of how you intend to market your products.List the different marketing methods and how much you will rely on each one. List each product or service and how much you will market it. Products/Services List what you will sell. Describe customer service plans, market positioning, inventory control, and quality standards for each product or service. * First product * Second product * Third product * Promotions Explain how you will promote your business. List what types of advertising you’ll use (media, direct sales, sale promotions, publicity campaigns, and so on). Distribution Explain how you plan to distribute your products or services.Will you use direct distribution? An established channel? Give facts about your business sitelocation, parking, security and so on. Give a floor plan of a store or warehouse. Identify any resellers, retailers, wholesalers, or suppliers you plan to work with. Pricing Explain your overall pricing policy. Estimate the average purchase amount. Describe sales terms and conditions. Explain any credit plans you intend to offer. Suppliers List the name, location, product, amount, and agreements you have with each of your suppliers. * First supplier * Second supplier * Third supplierMarketing Goals Give a list of your marketing goals for the business, with measurable, definite outcomes. Explain how you’ll measure your progress on each goal. * First goal, dates, measurement * Second goal, dates, measurement * Third goal, dates, measurement Financial Information In this section, you’ll describe the financial aspects of your business, including start-up costs and loan use (for beginning businesses), profits and losses, cash flow, and more. You should include current balance sheet and other legal financial documents if necessary. Use of Loan MoneyIf you are starting a business and giving this plan to the loan company, be sure to include information about how you intend to use the loan money: equipment, inventory, salaries, rent, facilities, and so on. | | | | |Use |Description |Amount | | | | | |First use |Explanation of use |$0. 0 | | | | | |Second use |Explanation of use |$0. 00 | | | | | |Third use |Explanation of use |$0. 00 | Start-Up Costs Explain the costs of starting the business.Give the amount of capital you put into the business, and where it came from. [pic] Profit and Loss Statement Attach a detailed profit and loss statement. Explain sales, cost of goods, operating expenses, and so on, that contributed to profits and losses. Show second and third years’ pro formas on attached sheet. Cash Flow Information Attach a detailed statement of cash flow in any business accounts. Show the beginning balance, sources of income, expenditures, ending balances. Show first year of cash flow on attached sheet Balance SheetsAttach current balance sheets. Explain current assets, fixed assets, liabilities, and equity. Show pro forma balance sheets for all years. Revenues vs. Costs List fixed and variable expenses against your income. Analyze how much you need to make to cover your costs. Financial Projections In this section, you will make financial predictions based on your company’s current performance and your marketing and business planning for the future. This will explain your numbers on your profit and loss statements and cash-flows. AssumptionsList and explain what you based your projections on (economic and market trends, competitors’ actions, new products, and so on). Be sure to explain what you took for granted as you began your projections. * First assumption * Second assumption * Third assumption Growth Projections Give areas of growth, estimates of the extent of growth, and factors influencing growth. List both internal (personnel, divisions, new products) and external growth (new markets, increased sales, geographic spread). * First factor * Second factor * Third factor Appendices Attach any balance sheets, resumes, spreadsheets, and so on.

We Ask Admissions Officers Whats the #1 Fact You Wish Applicants Knew

We Ask Admissions Officers What's the #1 Fact You Wish Applicants Knew SAT / ACT Prep Online Guides and Tips College admissions can be confusing, with a lot of contradictory information thrown around. It's hard to separate fact from fiction, which is frustrating since the stakes are high and you may not realize you made mistakes until it's far too late. In this exclusive article, we decided to consult university admissions officers and counselors around the country to break through the noise. We asked them a simple question: "What's the #1 fact you wish college applicants knew about admissions?" The results might surprise you. #1: We Want a Well-Rounded Class, Not Well-Rounded Students We've all heard the adage of schools liking well-rounded students, so many hopeful applicants try to do a little bit of everything at once. This might be a huge mistake. Jeannine Lalonde, Senior Assistant Dean of Admission at University of Virginia, tells us: The area that students seem to divert so much applicant time and energy away from more important things is the extracurricular section of the application.When I was in school, someone came up with the phrase "the well-rounded student" and I fear that term has become and albatross that hangs around everyone high school student's neck. They think there's a check list that we use as we read and we want to see leadership, athletics, community service, something creative, something academic, etc. They think that if they don't do everything, then they must be an expert in one thing. So either be a jack of all trades, or headed to the Olympics. The fact is that the philosophy at my school and many others has evolved. We're looking to build a well-rounded class. A well-rounded class has all kinds of students in it. Really, though, academics will always come first. So amount of community service will make an admission officer forget that a student didn't challenge themselves in high school. When I read a file, most of my time is spend analyzing the transcript, reading the recommendations, and reading essays. Extracurricular activities are...extra! #2: Demonstrate Your Character - Be Someone Colleges Want In Their Community Applications aren't just about your test results and achievements. Colleges want you to be someone they're comfortable accepting in their community. Your job is to demonstrate that you have the character to be this person. Carol Barash, former English professor and admissions counselor at U Michigan, Rutgers, and Douglass College, writes: The thing that matters mostthe one thing you can control in the admissions process and for the rest of your lifeis your character. When you show up, what can people count on you for? This is really what colleges want to know. Colleges are communities, and admissions officers are building diverse communities of individuals who will coalesce and work togetherin classrooms, dorm rooms, and across the broad range of activities that make up the college community. Use the college process to explore your character: what are your strengths, your passions, and especially your commitments? Once you have a sense of where you are going, look back into your life experience and uncover the stories that are connected to that place you are going. Where are the moments when you changed, grew or made a difference? Those defining moments are the cauldron of character; those are the moments you want to write about in your college admission and scholarship essays. #3: Use the Admissions Office to Your Advantage Admissions offices seem daunting - they can decide your fate and thousands of other students in a single stroke. But you should realize that the office is made up of people who care about the school and about their students. Jeff Knox, former Admissions Officer at University of Pittsburgh, advises: The average college admissions professional is young, usually in her 20s. Students tend to think admissions committees are made up of a bunch of older curmudgeons perusing their applications and essays over bifocals.Don’t be afraid to call or email the admissions offices. They are (almost always) super nice and helpful. In my experience, I deal with a lot of students stressing out over pretty simple questions that could easily be answered with a simple phone call. Especially because colleges have different policies and preferences and because student questions are often so specific, it’s important to go to the source with many questions. Rather than guessing or trying to figure it out on your own, just contact the admissions office directly. #4: Maximize the Effectiveness ofthe Supplemental Essay Private admissions counselor and Harvard PhD Robert Kohenbelieves that students underestimate the value of the supplemental essay. Treating this as an afterthought is a big mistake: Students dedicate so much time to perfecting their personal essay that they often forget to leave adequate time for the smaller, supplemental questions that most colleges ask on the application. These essays usually ask about why the student wants to attend a particular school. It's imperative that students both spend adequate time researching the college and fine-tuning these essays. The most common mistake students make is simply repeating generic information about the university: it's in a great city, its academics are spectacular, and the campus is beautiful to boot. Instead, students should write about specific details that align with their own interests and show they've done their homework. For example, does the university offer a particular type of student group unique to that school? Does it have a particular professor the student is interested in working with, or a special research institute that speaks to the student's academic interests? It's critical that students include these types of details in their supplemental essays in order to stand out from the crowd. What's Next? Is there a burning question you want answered by college admissions officers? We'll reach out to our network. Just leave a comment below about what you want us to ask. Want to excel on the SAT or ACT? Read our famous guides to scoring a perfect SAT score or a perfect ACT score. How good of an SAT/ACT score do you need to get into your target college? Calculate your target score for the SAT or the ACT. Want to improve your SAT score by 160 points or your ACT score by 4 points?We've written a guide for each test about the top 5 strategies you must be using to have a shot at improving your score. Download it for free now: