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Essay / Research Paper Abstract
A 5 page paper discussing and illustrating how close attention to financial analysis and planning can increase corporate operational efficiency and profitability. The key to arriving at the optimum mix of price and product lies in an approach to financial analysis and planning that gives the organization increased competitive advantage. Bibliography lists 5 sources.
Page Count:
5 pages (~225 words per page)
File: CC6_KSfinCorpPlan.rtf
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Unformatted sample text from the term paper:
merely opening a business and waiting to welcome customers are long over. Todays business environment is more competitive than at any other time, and all businesses are obliged to
operate as efficiently as possible. Such efficiency of operation can be gained only with minute attention to the performance of every product and process within the organization.
Example of the necessity of close financial analysis and planning can be found in the convenience store industry. The industry had been lucrative for
many years, but that situation has changed in recent years. A Hypothetical Example As a regional convenience store chain, QuickStop faces growing competition,
which this time around does not arise only from other convenience store chains. In addition to that source of competitive pressure, the entire industry is facing increased competition from
"superstores," membership warehouse retailers and even large grocery stores that have added gasoline pumps to their parking lots. QuickStop raised prices in the
previous year in an attempt to increase profits. Customers reacted badly, and now QuickStop is considering raising prices again in the face of still-falling sales. These events can
be explained through review of the "4 Ps" of marketing and an analysis of elasticity of demand. QuickStop operates in an industry that can be described as operating within
the definition of monopolistic competition, defined by the presence of many sellers in a highly competitive market; independent action of firms; multiple dimensions of competition; and relative ease of entry.
These qualifications describe the convenience store segment of retailing. The 4 Ps also constitute the marketing mix. They are product, price,
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