Jump to navigation Jump to search Financial planning is the task of determining how a business will afford to achieve its strategic goals and objectives. Usually, a company creates a Financial Plan imately after the vision and objectives have been set. The Financial Plan describes each of the activities, resources, equipment and materials that are needed to achieve these objectives, as well as the timeframes involved.
Analyze the factors that contribute to the process of project selection. Technological factor Advances in technology can help improve productivity of labor, also as reduce transportation costs, distribution costs, communication costs and production costs.
Examples of it include changes that affect the production and distribution of mfrd business plan product or services. Economic factor Economic factor affects the overall consumption and investment in a business. A stable economy attracts firms that wish to do business.
An unstable economy however increases business risks and even deters investment. Examples of it include national income, taxation policy, foreign exchange policy, inflation rate, etc.
Physical factor It refers to the physical location and natural environment which directly affects the economic development of the countries or a region. A favorable physical environment with well-planned infrastructures likes the airport and transport facilities can attract firms.
Social and cultural factor Social factor affects the productivity and labor supply. Examples of it include the population structure, language ability, education level, etc.
Cultural factor affects trhe taste and preferences of costumers. Examples of it include whether a country encourage women to go out and work and emphasis on virtue of hard work. Political factor This is related to the political system, laws and regulations of a country.
Political systems can be classified as authoritarian and democratic. Laws and regulations' examples include licensing laws, customer laws, and labor laws, and licensing regulations.
A country with sound legal system and stable political condition can attract investments as mfrd business plan enhances investors' confidence. Develop outline project specifications for the implementation of a new product, service or process.
Hiticha Group is a well-known multinational organization which specialized in manufacturing electronic products for the retail market. With the organizational commitment from top management to the team members, it lays the fundamental structure for the project manager to develop and execute the project plan.
Produce a specification for an agreed project to implement a new product, service or process. Scope of the Project: Hiticha Group head-quarter is based in Japan with more than 10 overseas branches.
We are tasked to create a theme that chosen embraces grandeur and glamour at a beach environment, where the party will start from evening till the end. The underlying mission is to create an environment, filled with special activities. We hope to provide all guests and staffs with the experience of an extraordinary starry beach night and indulge in the wonderful and splendid performances organize by our company.
Our objectives for this project are to provide our new client an extraordinary Annual Dinner and Dance, and to make an impression in our client for future engagements for our services.
This project will be the critical stepping stone for our company to gain more market share. The top management of the company will select the most suitable project manager to lead this project. The project manager is desirable to be tactful with clients, positive and committed, and experienced in managing a team to organize the larger scale projects.
The importance of leadership is to organize the project team and amplify commitments in the team members. The project cycle is the basis for the project manager to develop the project plan.
The Business aspect involves all the operational functions that relating to the overall business management of the project issues from the perspective of customer management, justification of the project.
Whereas, Budget aspect involve events related to the requisitioning of the project funds and its management throughout the life of the project implementation. Whereas, Technical aspect identifies the list of activities and events required to provide the optimum technical solution in the most efficient way.
The technical aspect spans from the determination of what our client wants to validation the project solution that satisfies our clients.
The below illustration will give a more concise concept on the three aspects from our company perspective on this project. The milestone project with Hiticha provides us with the opportunity to break-through our currently status and to advance into the multi-national company market.
It is very much critical that we can clinch this project. It is expected to cater for about guests. While we are aiming at a forty percents profit from the entire project, we will attempt to assist our client in reducing their cost.
The first payment will be made to us when we sign the official contract, while the second payment will be the day after the event. With the first installment being received, we will have sufficient cash flow to carry out this project. One of the deciding factor for the project to be considered as successful lies on the satisfaction of our clients.Billy started MFRD in October He was drawn to MFRD for the 24/48 work schedule and the retirement plan.
The most memorable day of his career was the day of the Good Friday tornadoes. Here is a quote from that plan: "As we strive for excellence, the MFRD must become united and transform the way it approaches and does business.
May 29, · This is a solution of MFRD-UNIT2-Managing Financial Resources and Decisions that describes about Developing business. MFRD-UNIT2-Managing Financial Resources and Decisions. Unit Title capital base and have provided attractive returns to promoters,thecompanyneed much more capital to expand as per the plan.
Edexcel BTEC level 2 Extended Diploma in strategic Management and Leadership (QCF) Guildhall College (MFRD) and Business The project cycle is the basis for the project manager to develop the project plan.
The Business aspect involves all the operational functions that relating to the overall business management of the project issues. The World's most comprehensive professionally edited abbreviations and acronyms database All trademarks/service marks referenced on this site are properties of their respective owners.
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