Essay on Understanding Work Duties in Business Management

Profit is often expressed as Earnings per Share (EPS) and is calculated as operating income divided by total amount of common shares (Ross, Westerfield, Jordan, Thompson, & Christensen, 2007, p. 51). EPS has two

Profit is the money that a business earns in revenue, minus investments, and the cost of salaries.

Fixed costs are what it costs a company to run before they make any products irrespective of the level of activity e.g. rent & rates, insurance, salaries, utilities.

Management is the basis of how any given organization operates and how each activity preformed is organized that makes each day possible and profitable for the overall good of the company. Power

Business and Management is a course I believe that I have the qualities and skills to create a successful career in this area. Ever since I can remember, I recall always wanting to organise everyone and give them certain tasks to do. In fact, even when I was just playing with my friends. I remember how I used to organise all the plays and concerts that we did. I have been inspired by my own Father a director of a successful business organization which has been managed by him over years and also supporting him is a team of well qualified marketers who really know how to move the margins of the companies supply and demand of goods worldwide. This is a field which we encounter in our everyday life which involves with the buying, selling,

The information necessary to determine a company’s profit as a percentage of sales can be found in the company’s income statement.

All the costs by a company can be broken into two categories, fixed costs and variable costs. Costs that are independent of output are called fixed costs. Fixed costs remain constant throughout the relevant range and are usually considered sunk for the relevant range. Buildings and machinery are included inputs that cannot be adjusted in the short term. They are only fixed in relation to the quantity of production for a certain time period. The cost of all inputs is variable, in the long run.

Management is usually the people that hold the business together. Whether it is making schedules, making sure the books are right or even helping out when needed, management is an important aspect of every business. According to Web Finance (2014), “Management is the organization

Profit is the difference between income and expenses, and reflects how well or not a company controls costs (McClintock, 2017). Earning a profit is important to all businesses because profitability impacts whether a company can secure financing from a bank, attract investors to fund its operations and grow its business. Companies cannot remain in business without turning a profit (Johnson, 2017). Sometimes the only way to make profit is through cost saving

Management in business is the coordination of people to accomplish set goals efficiently and effectively. It comprises of planning, organising, staffing, leading, and controlling an organisation. Management itself is also an academic discipline, a social science whose object of study is social organisation in order to accomplish a mutual goal.

The ability to manage the business is an index of good management which not only ensures profits for its owners but also assures continues operation.

Profitability is the main objective of all businesses. Business will not be able to survive if there is no state of providing a financial gain. Hence, it is especially significant to know and calculate the present and past profitability and forecasting future profitability. Income and expense are being used in computing in computing profitability. Income is what was being produced from the activities of the business. For instance, if raw materials and end products are produced and sold, income is achieved. On the other hand, expenses are the expenditure of assets accumulated or depleted by the activities of the business. For instance, seed corn is an expense of a farm business since it

On the other hand, fixed costs remain constant with little regard to the level of production being realized. A good example of fixed costs is rent. Of course there are exceptions, but whether or not a company is using the full capacity of the facility it is renting, the rent will still become due. However, a positive characteristic of fixed costs is that they usually remain constant; and so everything that

First, profits are the result of corporate contribution to society. If the business provides the community with the necessary products and services in an efficient way, then the business will earn profits. Therefore, profit is

Cost behavior is the way in which different production costs are affected by the change in the level of production. Cost behavior categorizes costs into three types; namely fixed costs, variable costs and semi variable. Fixed costs are those, which will not change with the level of activity but within the relevant range. Fixed costs are going to be incurred even at zero production (e.g. rent expense). However, fixed costs per unit decrease with increase in production (Wong 2014).