SITUATION 1
Question 1:
Co-leadership can be vital for the future of the family’s medical products firm. Both Julie and Rob can play an integral role in managing the firm and taking things to the next level. The company requires someone like Rob, who can manage things with proper planning and motivation to make sure everything is happening according to the plan. Introverts like Rob can be good leaders because they make sure their team is doing well and not slacking off. If Rob takes over 50% of the firm he can make sure things run smoothly and there are no problems. Similarly, Julie can also play an important role in co leadership. She can be the face of the company, and her creative skills can be used to create better ideas and promotion strategies. Julie can also play a major role in creating stronger business relationships because she has good interpersonal skills. If both Rob and Julie work together, they can take the company to a whole new level, because their skills complement each other. Rob can make sure things run smoothly while Julie can make positive …show more content…
Cash budget can be used to estimate the financial budget that would be required to set up a magazine. The entrepreneur needs to predict whether $1 million would be enough to start this business, or whether they require $10 million. The magazine requires working capital, which is one of the most important parts of budgeting. Firstly the entrepreneur needs to look for places of business, like an office and a place where manufacturing will take place. This requires a lot of working capital, and all that cannot come from loans, investment is a must. Next the company needs to start hiring photographers and writers, which is the most important part of a magazine. After all the working capital, equity financing and debt financing, $1 million will surely be enough to start a small magazine (Pfefier
Question 1:
Co-leadership can be vital for the future of the family’s medical products firm. Both Julie and Rob can play an integral role in managing the firm and taking things to the next level. The company requires someone like Rob, who can manage things with proper planning and motivation to make sure everything is happening according to the plan. Introverts like Rob can be good leaders because they make sure their team is doing well and not slacking off. If Rob takes over 50% of the firm he can make sure things run smoothly and there are no problems. Similarly, Julie can also play an important role in co leadership. She can be the face of the company, and her creative skills can be used to create better ideas and promotion strategies. Julie can also play a major role in creating stronger business relationships because she has good interpersonal skills. If both Rob and Julie work together, they can take the company to a whole new level, because their skills complement each other. Rob can make sure things run smoothly while Julie can make positive …show more content…
Cash budget can be used to estimate the financial budget that would be required to set up a magazine. The entrepreneur needs to predict whether $1 million would be enough to start this business, or whether they require $10 million. The magazine requires working capital, which is one of the most important parts of budgeting. Firstly the entrepreneur needs to look for places of business, like an office and a place where manufacturing will take place. This requires a lot of working capital, and all that cannot come from loans, investment is a must. Next the company needs to start hiring photographers and writers, which is the most important part of a magazine. After all the working capital, equity financing and debt financing, $1 million will surely be enough to start a small magazine (Pfefier