George’s Trains Business Scenario
After completing a model train for his nephew sometime time shortly after World War I, George Olieux began a small business of repairing model trains for individuals. This later, assisted in the growth of his current business George’s Trains, which became a store front business owned and operated by George Olieux in 1962. George’s Trains is now a business that specializes in the sale, repair, and trading of model trains of all makes and models. The organization is a family owned business that bases its business values on honesty, fairness, and integrity (George’s Trains, 2018). The company has a staff that is knowledgeable about model railroading alongside the various train models and other important aspects …show more content…
This information is highly important and enables owners and managers to be aware of short term efficiency, and gain full understanding of the business health, alongside a comprehension of short time financial obligations and their ability of being met (Jackson, 2016). George’s Trains company grew overtime and by following through with its business values the company grew in business, in regards to both numbers and reputation. To have positive working capital practices a capital budgeting method must be in place. The three most used methods of capital budgeting are net present value (NPV), internal rate of return (IRR), and the payback method (Byrd, et.al, 2013). The manner in which George’s Trains conducted business attracted many new customers and helped the company build a successful business that is still running today and has even expanded to online as well. Yet, even with a strong, well-defined business and reputation, there are always areas that could use improvement. Next, we shall examine the pitfalls of George’s …show more content…
The advice provided included George’s Trains description of working capital process, along with an explanation of different capital budgeting process methods. Adding to this information, there were discussions on the recommendation of George’s Trains. Finally, there was a provision of cash flow statement template to help George’s Trains to enable the owner in tracking how the companies are operating, where they get the money from and where the money is
After completing a model train for his nephew sometime time shortly after World War I, George Olieux began a small business of repairing model trains for individuals. This later, assisted in the growth of his current business George’s Trains, which became a store front business owned and operated by George Olieux in 1962. George’s Trains is now a business that specializes in the sale, repair, and trading of model trains of all makes and models. The organization is a family owned business that bases its business values on honesty, fairness, and integrity (George’s Trains, 2018). The company has a staff that is knowledgeable about model railroading alongside the various train models and other important aspects …show more content…
This information is highly important and enables owners and managers to be aware of short term efficiency, and gain full understanding of the business health, alongside a comprehension of short time financial obligations and their ability of being met (Jackson, 2016). George’s Trains company grew overtime and by following through with its business values the company grew in business, in regards to both numbers and reputation. To have positive working capital practices a capital budgeting method must be in place. The three most used methods of capital budgeting are net present value (NPV), internal rate of return (IRR), and the payback method (Byrd, et.al, 2013). The manner in which George’s Trains conducted business attracted many new customers and helped the company build a successful business that is still running today and has even expanded to online as well. Yet, even with a strong, well-defined business and reputation, there are always areas that could use improvement. Next, we shall examine the pitfalls of George’s …show more content…
The advice provided included George’s Trains description of working capital process, along with an explanation of different capital budgeting process methods. Adding to this information, there were discussions on the recommendation of George’s Trains. Finally, there was a provision of cash flow statement template to help George’s Trains to enable the owner in tracking how the companies are operating, where they get the money from and where the money is