Essays on Business Performance Management Assignment

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The paper "Business Performance Management" is a perfect example of a business assignment. Incurring expenses while seeking the services of a financial advisor can be important in ensuring the right advice is obtained regarding the manner in which a business should be conducted so that high profits are achieved. Consequently, while the cost will be incurred while getting the services of a financial advisor, more income will be generated to replace the funds spent. What steps might you take when sourcing and engaging a financial advisor for a business? I will determine my scope of work and also investigate the fees required by the specialist I will investigate the competence of the specialist to assist me in the business by investigating whether he has been involved in similar advisory activity before I will establish whether I will be charged during the initial discussion and also determine whether there is an obligation to continue seeking his services in the future I will also determine whether I will be charged on an hourly basis or based on the level to which services have been sought. Assessment Activity 2 If an invoice is for $ 109.89 including GST but the GST amount is not shown how much GST was included? Let GST value be x GST=10% of the cost price Therefore, 109.89 = 110% Price before adding GST = 100*10.89/110 Hence invoice price before adding GST = $ 9.90 Hence, GST = 10.89 – 9.90 = $ 0.99 If you intend to sell a product for $ 75.50 (before GST) how much GST should you collect? Sales percentage before GST = 100%, Corresponding amount = 7.50 GST percentage = 10% GST value = 10*75.50/100 = $ 7.55 What is the difference between profit and cash flow? Profit is the revenue as a result of sales of products and services such as payment in the form of cash that is not yet received minus expenditures that have been paid in cash, expenses that should be paid in cash and expenses that are expressed in other ways.

Cash flow is the difference between the actual cash received and cash spent in the activities of a business. Assessment Activity 3 What are the steps you might take to investigate and secure capital for a business? Make personal saving which can be used to buy business requirements Seek the assistance of friends through contribution Seek financial assistance from banks and other financial institutions.

References

Cokins, G. 2009. Performance management: Integrating strategy execution, methodologies,

risk, and analytics. Hoboken, N.J: John Wiley & Sons.

Eckerson, W. W. 2011. Performance dashboards: Measuring, monitoring, and managing your

business. Hoboken, N.J: Wiley.

Hope, J., & Player, S. 2012. Beyond performance management: Why, when, and how to use 40

tools and best practices for superior business performance.

Luecke, R., Hall, B. J., & Harvard University. 2006. Performance management: Measure and

improve the effectiveness of your employees. Boston, Mass: Harvard Business School

Press.

Pulakos, E. D. 2009. Performance Management: A New Approach for Driving Business

Results. Chichester: John Wiley & Sons.

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