Business Finance Homework Help

1 Initial post: After reading the chapter(attached below), watching the lecture, and/or listening to the podcast, what questions or reactions do you have? In your post, provide clear background referencing the TED talk, lecture, podcast, or chapter so we have a common place to start from.

2 Responses: For the replies, you can ask questions that could further the person’s thinking.

Student A: “Based on chapter 4, I can metaphorically “outcomes of change processes” like the four seasons “spring, summer, autumn, winter,” depending on the weather that develops ideas.

If I’m an ideas purveyor to build a fashion store, I need to be flexible and assess when items will be trendy. It’s based on time frames, bulletins, and weather (Since we need to know for sure when that happens, it’s possible that this year’s winter will arrive earlier or colder than last year). The vision needs to be far-reaching and capture the psychology of the customer. In addition, we have to understand what the customer needs (so we need to prepare options A, B, and C).

Take for example from Forever 21, this is a store for different ages but especially youthful and dynamic style. Besides, it is also a store with reasonable prices, so it is considered as the fashion store of every home. From experience, I know that Forever 21 had a period of severe economic crisis. The error encountered goes hand in hand with the supply chain, and they do not have the capacity to create “outcomes of change processes”, which is the reason for the total annual income deficit and bankruptcy.

Times are evolving and styles tend to change over time. Forever 21 needs to establish and offer better policies to be able to match the seasons rather than hitting price sentiment. Moreover, online business is being loved by everyone, so Forever 21 needs to promote the foundation and implement plans to have reasonable promotions for everyone. The change creates excitement from users; furthermore, they are the people who bring useful ideas to the store’s economy.

Along with change there will also be failures, but it is the in-depth experience to help us have sustainable knowledge and build a solid core that is present in an organization. Importantly, we need to have different plans in the supply chain to find the unintended consequences and solve it in the shortest time. That reduces the potential for bankruptcy. Finally, the campaigns are closely exploited and the quality comes from the product. Sometimes the change will be explosive, but sometimes it is also a terrifying gunpowder. Depending on the way of thinking, apply theorems and experience to come up with plans to support and develop it in the best way.”

Student B: “After watching the chapter 4 lecture video, what stood out for me was the need for individuals as well as employees in the workplace to have goals for change. This struck a chord for me because, for years, I’ve worked part-time as a dietary server at a retirement home to help get me through college. After college, I plan on starting my sales career. For me, this might be a rough transition to change my style of working from being a dietary server to becoming a salesman. I plan on being a solution seller and will need to sell the vision of the solutions that certain products provide to the customers. As a salesman, I’ll have to find healthy ways to handle my stress. I’ll find healthy ways where I can fully express my true feelings in the workplace as well as outside of work. In sales, we use quotas as the metric to measure success or failure. However, I’ll view my quotas every month as mere results and I won’t label it as a success or failure. If I continually don’t make quota every month, then I’ll view those results and wonder if a sales career is really the right path for me. If I continually exceed my quota every month, then I’ll view those results and will most likely decide to progress forward with my sales career. I’ll constantly analyze my results in the workplace and learn from them.”