Final Summary: Researching, Shopping, And Budgeting

3. Explain two methods that can be used in order to identify realistic estimations when developing a budget. [2.2]

The budgets process could help to spread resoursces that increase the skill to get best outcome.

A famous writer for the New Yorker, Malcolm Gladwell has written an article, “The Science of Shopping”, which is based on Paco Underhill’s study of retail anthropology. The intention of a retail store is obvious- that is to attract customers and convince them to perchance as much as they can. There is so much knowledge that we can study, such that how the environment affects people’s thinking. These are tiny details that we don’t usually think about. The reason of how Paco Underhill success is because he notices these details. Details determine success or failure. Paco Undnerhill—a talent and passion environmental psychologist, provides us a new point of view of the science of displaying products,

Shim, J., & Siegel, J., & Shim, A., (4th edition)(2012). Budgeting basics and beyond. Retrieved from http://wow.coursesmart.com/9781118096277/firstsection

5. How would you identify timescales, priorities and financial resources when preparing a budget? [2.3]

Staying on budget is one of the key factors that will play a significant role in ensuring the success and the completion of the project in a timely manner. In addition, budgeting will allow this project to develop a spending plan which will ensure that we do not exceed the $3,000 dollars allotted for the project. Furthermore, by having a budget plan in place, we are on the path to setting and meeting our financial goals.

Everyday thousands of retail stores throughout the United States open up their stores in the morning for the sole purpose of attracting customers and selling them merchandise. For this assignment I decided to do a store analysis of the retail giant Wal-Mart. To begin with I will evaluate the store layout and design. Next I will explain the visual merchandising techniques used that Wal-Mart uses. Finally I will discuss the problems and recommendations that I have for Wal-Mart. Wal-Mart has continually been a leader in the retail industry, and it all starts with the layout of the store.

Doll, S. (2002). Creating your project budget: Where to begin? Retrieved September 08, 2014, from TechRepublic: http://www.techrepublic.com/article/creating-your-project-budget-where

Based on the master budget, there have something wrong and unclear. All the numbers are the same, evenly quarter two have more sale than other quarter, at least less 30% than quarter two. We can easy to recognize with a few changes and we can achieve a goal $1.000.000

Personal Budget Exercise – Excel Creating a spreadsheet track personal business expenses is an excellent use of Microsoft Excel. For this exercise, you will create a spreadsheet to enter a personal budget and track actual expenses for the year. You may choose to use real data or create a fictitious budget using a monthly income amount of $2,500. Here are suggested budget categories if you are not using a real budget. At a minimum, you must have 9 budget categories: Housing (mortgage or rent) Utilities Car payment Insurance Student Loans Food Misc. Entertainment Gas Savings

Many families and single people are forced to live on a budget. The process of living within a budget takes will and determination but to reach happiness and avoid poverty, it is worth the sacrifices. There are many economic reasons, such as a new baby in the household, job loss or change, the children’s education expenses or retirement. All of these occurrences can cause financial burdens and, the need to control and tightened spending. Even the wealthy, have to budget and arrange their unrestricted expenses against their limited incomes. It is possible to live well on a tight budget but there has to be an understanding of the expenses, a good attitude and a clever plan.

Budget is the major financial and economic statement. The role of the budget is to keep track of the money coming in and the money going out. It is essential part of running any business effectively. It can help make a short and long term projections about financial situation, avert a financial crisis and plan for major financial changes.

A personal budget showing recurring and nonrecurring income and expenses, including living expenses, loan payments, savings and investment activity, and durable purchases, is a comprehensive personal budget. This type of budget shows all aspects of financial activities. It is an essential tool for managing your finances and strategizing for your financial future. With goals in mind, the comprehensive personal budget helps in determining how to effectively reach those goals with minimal financial impact. In a sense, a comprehensive personal budget is an ongoing health assessment for your finances (Siegel & Yacht, 2009).

Budgeting is crucial in the well-being of a company especially the financial health status of a company. In fact, no professionally managed firm would fail to budget, since the budget establishes what is authorized, how to plan for purchasing contracts and hiring, and indicates how much financing is needed to support planned activity. It is routine for a company to budget for its expenses. Expense budgets act as a guideline of how much revenue a company would require keeping the activities running. It is used to set the company’s targets for a certain period.

Personal budgeting is an important factor in regards to successful long term financial stability. Budgeting has many great aspects as well as showing areas of weakness. It can show the truth about your personal financial spending habits, areas that are not looked at enough, and if there are needs for a larger emergency fund. The reality of personal budgeting is that many people potentially do not keep a personal budget for one reason or another. People also don’t consider the negative effect that it could have on one personally and or how it effects the economy.