Business Principles Of Business Owners

‘Herewith appear to be the most pressing matters; one, infective and inexperienced entrepreneurial leadership. Two, the dialectic nature between front of house and back of house, and three, a lack of general training motivation and direction in original concept.’

In this week’s discussion I will review the ten business principles as defined by Greg Fisher. I will then choose three principles to discuss. I will then explain the business principles that are utilized in my facility, as well as those that are not currently utilized. Upon describing the ones not utilized, I will then give examples on how they can possibly be implement into the facilities practice. In closing I will discuss what principles are and which ones are not important to healthcare system.

What is principle of justice in acquisition? Our book gives us an analogy concerning basketball player, Wilt Chamberlain that was used by Nozick. The idea

In a time of global commerce, new business ventures can take on many forms. What used to be local or even national companies have become world-wide. International growth of a business can be extremely beneficial but is not without its challenges. Different countries have different peoples and different cultures - different ways of doing business altogether. If a venture is to be successful, these differences must be well understood.

Luke, an ABC employee, is currently working on a land development project consisting of building an adult entertainment store in a neighborhood where Luke’s brother, Owen, lives. Luke knows that Owen has been considering selling his home but that he is putting it off expecting the real estate market to improve in a few years, yet Luke knows that the project will cause the opposite effect.

In this week’s discussion board, I will discuss three business principles, and identify their importance to healthcare. I will also discuss why I feel they are important, as well as provide examples of how my facility utilizes them.

For the purpose of this discussion, I will explore three business principles discussed in Greg Fisher’s power point which are needed to maintain safe, quality, and patient-centered care. The three business principles selected include; decide what I do, decide who I serve, and managing employees. The discussion will be written through the perspective of a nurse manger of a home care agency. Lastly, I will discuss the importance of each business principles to myself and health care.

15. How should the company resolve a claim for assault, battery and false imprisonment arising out of an altercation with one of the company’s employees and how can the company protect itself against such claims in the future?

The three key organizational principles that that I think are the most important to help guide the structure of law enforcement organizations are chain of command, span of control and unity of command. The chain of command is a chart that organizes the lines of authority from the chief of police to every subsidiary employee under his or her command. This chart benefits in operative choices in the association within the positions of a communiqué as outlined within a law establishment. The span of control limits the amount of bosses for each administrator. This standard helps in each person knowing to whom he or she must report to on a designated shift. On a personal note, it is rather agitating to have three bosses as it creates confusion (Cordner,

The purpose of business, in addition to making money, is production. I believe that production is the purpose of business because it means the production or manufacturing from components or raw materials to produce something new. When you create a product from new materials, new products are created that may make it easier for society to benefit from. Imagine a world where we could only access the materials, tools, and resources that were in walking distance of our living area. I can only imagine that it was hard back in the 1800s for people to get the medicine they needed, the food they needed, or even clothes to wear. Henry Ford has a great opinion on the fact that many people are not fit to do every job, and he touches on the idea of people producing for an exchange of goods that they need. He said, “It is self – evident that a majority of people in the world are not mentally – even if they are physically – capable of making a good living. That is, they are not capable of furnishing with their own hands a sufficient quantity of the goods which this world needs to be able to exchange their unaided products for the goods which they need” (Henry Ford, p. 500 line 30).

Starting a business is the latest trend. Just take a look at Instagram. Several profiles have the caption ‘Entrepreneur’. At this very moment, there is someone, somewhere working on an idea, a business plan or launching a startup. Entrepreneurship is on the rise like never before. The flexibility and independence that comes with being one’s own boss is attractive and worth taking the leap in starting a business. However, most people don’t know that being an entrepreneur is a grueling journey that can be very lonely and stressful at times. According to the Small Business Administration (SBA), 50% of businesses fail during the first year. Starting a business can be a scary task, but the

Small businesses are mighty minnows, reflecting the competitive spirit that a market economy needs for efficiency; they provide an outlet for entrepreneurial talents, a wider range of consumer goods and services, a check to monopoly inefficiency a source of innovation, and a seedbed for new industries; they allow an economy to be more adaptable to structural change through continuous initiatives embodying new technologies, skills, processes, or products (Ibielski 1997, p. 1).

The economic scene in the United States and Mexico in the early twentieth century was characterized by a marked trend toward the monopolistic organization of industry. In the United States, the first attempt to regulate this type of activity was the Sherman Act of 1890, which is a clear example of an emerging awareness of these anticompetitive behaviors and represents an effort to stop them to promote economic development; however, these were insufficient given the ingenuity of businessmen and their ability to violate the law through various tactics, including cooperation between businessmen and the political sector, and legal evasions using technicalities and loopholes to enable them in order to continue unimpeded.

In today’s uncertain and unpredictable business environment, the focus of business is toward efficiency. The cost of running business must correspond with the amount of revenues it generates. In other words, entrepreneurs must find an equilibrium point whereby cost is maintained at its lowest point without compromising revenues. The challenge for entrepreneurs is to keep operations lean; trimmed of unwanted fat around the sides so it can move freely, be flexible and mobile.

Businesses are established with the sole reason to provide a product or service to a customer with the intend to make a profit. The amount of time, effort, and resources spend should generate a profit. Then, the profit depends “on its effectiveness in performing these activities efficiently, so that the amount that the customer is willing to pay of the products exceeds the cost of the activities in the value chain” (NetMBA.com).