Ibm 320 Final
IBM 320 – Business Application
Final Exam
List the question
Answer with 2 paragraphs, chart, paragraph, and company example
Minimum 1.5 pages for each question
Answer all 5 essays
Part 1: power point on blackboard
Part I: Essay (worth 50% of the grade)
Essay #1: Why is the understanding of sales forecasting critical to the success of business? What method and/or tools (at least two) can one use to forecast sales?
#1:Forcasting sales critical to business: setting up a budget for the next 12 months, understand the road map of where you intend to go, predicting expenses, capital planning, staffing levels, productivity, sales, expenses, better understand inventory, tools and methods- regression analysis, standard deviation?, Delphi method/brainstorming, expert pinion, historical demand, industry trends and growth and seasonality
Essay #2: Explain linear regression and how it can be used. Then provide three examples of how it might be used in Business.
#2: Linear regression and examples in business: predicts next likely point, developing trends, Google it, and on blackboard
Essay #3: Provide 3 clear examples of ways to use Quantitative Analysis. Be sure to provide the actual data being used to analyze the problem.
#3 provide examples of ways to use quantitative and qualitative analysis: the science and numbers behind marketing (quant) from focus groups and surveys, look at the average, standard deviation, etc. Qualitative is the ideas, perceptions, biases pertaining to market research. Example: 80% of people like blue (quant) but women like light blue (qual) Google quantitative analysis- give thoughts and ideas on the topic
Essay #4: List at least 5 critical topics that must be addressed in a Business Plan and elaborate upon their importance to the overall plan. Then list the major factors that MUST be included in a Strategic Plan.
#4 What are the 5 areas that must be address
Executive summary
Target market definition swottt Risks
Final Exam
List the question
Answer with 2 paragraphs, chart, paragraph, and company example
Minimum 1.5 pages for each question
Answer all 5 essays
Part 1: power point on blackboard
Part I: Essay (worth 50% of the grade)
Essay #1: Why is the understanding of sales forecasting critical to the success of business? What method and/or tools (at least two) can one use to forecast sales?
#1:Forcasting sales critical to business: setting up a budget for the next 12 months, understand the road map of where you intend to go, predicting expenses, capital planning, staffing levels, productivity, sales, expenses, better understand inventory, tools and methods- regression analysis, standard deviation?, Delphi method/brainstorming, expert pinion, historical demand, industry trends and growth and seasonality
Essay #2: Explain linear regression and how it can be used. Then provide three examples of how it might be used in Business.
#2: Linear regression and examples in business: predicts next likely point, developing trends, Google it, and on blackboard
Essay #3: Provide 3 clear examples of ways to use Quantitative Analysis. Be sure to provide the actual data being used to analyze the problem.
#3 provide examples of ways to use quantitative and qualitative analysis: the science and numbers behind marketing (quant) from focus groups and surveys, look at the average, standard deviation, etc. Qualitative is the ideas, perceptions, biases pertaining to market research. Example: 80% of people like blue (quant) but women like light blue (qual) Google quantitative analysis- give thoughts and ideas on the topic
Essay #4: List at least 5 critical topics that must be addressed in a Business Plan and elaborate upon their importance to the overall plan. Then list the major factors that MUST be included in a Strategic Plan.
#4 What are the 5 areas that must be address
Executive summary
Target market definition swottt Risks