Unit 3 M1- explain the importance of cost‚ revenue and profit for a business organisation 1. Cost Profit is the different between the selling price and the production cost. Product cost include not only the cost of manufacturing a product but also all the other costs incurred in the process of producing or delivering a product or service. 2. Revenue The revenue of a business is‚ the income from its operations. It is important for the business to make the gap between costs and revenue
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Over the years‚ magazines have been publishing advertisements that try to appeal audiences with a certain acquired taste. For an example‚ Vogue magazines have been influencing American society since 1890 and have evolved to reflect modern women. Vogue has gone through many changes and has created a market for women’s magazines. The common market that Vogue tries to sell are mainly clothing‚ make up products‚ and cigarettes. In each era of magazine until today‚ you see a variety of changes of the
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Another controversy dealing with the negative parts of the nonprofit organizations is the tax exempt policy. Many of the organizations get a reduced tax amount or no tax amount when they are purchasing resources or product through their organization. Many people believe these organizations should be required to pay taxes because the taxes they do not pay go towards the taxes of everyone else. Each American is required to pay a tiny bit more on their taxes‚ but the money the organization saves
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Cross is one of the most important and well known non-profit organizations in the United States. If the Red Cross wants to continue to be one of the largest and a well contributing non-profit organization then they need to find a smart and well suited way to invest their money for the future growth of the organization. There are many ways that they can invest their money but I believe that I have found the most suitable way for a big non-profit organization like the Red Cross is to invest of a variety
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1. About non-profits: Briefly describe what type of organization qualifies as a “non-profit” or community benefit organization. An organization that will qualifies as a non-profit organization would be an organization serving homeless individuals with healthcare‚ meals‚ shelter and social services. An example of a non-profit organization in Fresno‚ CA is the Poverello House which offers all the services said above. How does society benefit from having a healthy community of CBO’s? Society
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All Firms Should Produce at MR=MC In economics‚ the point of profit maximizing and loss minimizing is called MR=MC. This point is where marginal revenue equals marginal cost‚ meaning that cost does not exceed revenue and revenue does not exceed cost. This is a profit-maximizing zone‚ meaning that total cost is not the lowest‚ but is farthest away from the total returns. The optimal point of production for the firm is at the point MR=MC. Marginal revenue is defined as the change in total revenue
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CHALLENGES FACING NIGERIAN DISCOUNT HOUSES IN THE MEDIUM TO LONG TERM ABSTRACT The paper traced the emergence of discount houses to the need for an institutional arrangement for the facilitation of the trading in short-term securities at both the primary and secondary segments of the money market. The British example was seen as the model with countries under the British influence including Ghana‚ Zimbabwe‚ and Nigeria adopting the system to deepen‚ the money market. The discount house operations
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handled right. Are you handling your restaurant right? Let us run a fast diagnostic check up. What do you need in order to increase your restaurant profit margin? Increased patronage is one possibility. The more people that come to your restaurant‚ the higher your sales and profits will be. Another possibility for improving the restaurant profit margin is to promote the most profitable items on your menu. Identify the most profitable items and promote them well. Do everything you can to ensure
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Staff Retention in Non-Profit Organizations: Reducing Turnover by Developing Successful Human Resources Management Strategies Willa Haskins Empire State College Abstract Staff turnover and retention rates are concerns for all employers‚ especially in the current economy (Opportunity‚ 2010). However‚ research and statistics show that the non-profit sector consistently experiences high turnover rates (Mizell‚ 2005). High turnover rates during economic hard times can have a serious detrimental
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from this bakery good? Total Profits = Total Cost – Total Revenue Total Cost = Presource * Qresource and Total Revenue = Price * Qsold Total Cost = ($40 * 5 units of labor) + ($60 * 7 units of land) + ($60 * 2 units of capital) + ($20 * 1 unit of entrepreneurial ability) = $200 + $420 + $120 + $20 = $760. Total Revenue = $2 * 400 loaves of banana bread = $800. Total Profits = $800 - $760 = $40. The firm will continue to produce as it is earning economic profits. If this firm is typical of
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