Business Finance Homework Help

1. “Suppose you company is going to lauch a New Product into market”. In this task why its is important to have interfuctional coperation for new product design? What are the symptoms of a possible lack of interfunctional cooperation?

2.” When firms are making process selection decisions, they must consider the environmental impact”. Discuss the three areas of decisions that affect environmental impact?

“Post at least two response to your peer’s post”.( I will send my peer’s post to respond to them )

REPLY TO:

First one

1A) interfuctional coordination can be defined as the cooperation of the various internal business functions to achieve the overall goals of the company.?Several employees from a wide range of departments and a variety of skills form a well-structured team, they organize their project together through face-to-face meetings, which saves them long cycles of coordination by email or video conferencing.??when developing a new product, the requirements are highly complex which call for more flexible workflow with the quickest possible reaction.?interfuctional coordinate works to meet serious challenges, take advantage of the diverse skills, knowledge, and experience of employees from many different departments.???1B) The lack of interfuctional cooperation affect the performance of the team, may create a toxic work environment, and continue to cause more problems. it also makes it hard to keep track of the big picture and coordinate rapidly.???2) Sustainability is the performance that meets the needs of the present without compromising the ability of future generations to meet their own needs.??Sustainability including people, planet and profit. It helps businesses to understand that the long term sustainability of an organization required more than just financial equity.??to achieve sustainability, we need to comply with social and environmental conditions, economic decisions are part of a strategy to make more money while getting closer to social and ecological sustainability.??Environmental impact assessments will serve as the basis for decision making and provides valuable input for analyzing the alternatives for projects, this can help avoid unnecessary and significant impacts and lead to more sustainable projects.??In business sustainability, companies react to social and ecological concerns, business not only about economics but also about environmental and social goals, in order to achieve these goals companies implement sustainability using sustainability management systems.?Good companies don’t just deliver financial returns but also help society meet some of its most challenging problems. focus on innovation for sustainable business models with things that have deep societal content such as clean energy.

Second one

1- Inter-functional cooperation is important in selecting the “right” new product that can be produced and sold at a profit.?If the new-product design approach is market-pull, there is the possibility of concentrating solely on “what you can sell” and selecting products that are incompatible with existing production facilities. Additionally, the new product may not be profitable.?If the new-product design approach is technology-push, there may be technical superiority but non-salable or unprofitable products and rough new product design we can offer only that product to the customers which we will be able to make with complete confirmation to specification. This can happen only if we will involve along with marketing, research and development or quality, production and supply .?That there is no unification of a vision, that there is no desire to cooperate to achieve a specific goal or group of goals, and that any individual should prefer to achieve this goal on his own, and that there is no exchange of experiences, cultures and skills.?Interfunctional cooperation is important for new product design because it takes into account multiple disciplines and point of views that can aide in the success of the overall design. For example: marketing may have an idea for a product design, but engineering may say the product in its current form may not be feasible to produce due to cost constraints. Engineering may have an idea that produces a technical advantage, but marketing may have no way of introducing it to the market, or the market may not be ready for it. When the different functions of the organization can work together to create a new product design, it cuts down on the time spent on getting products approved and to the next phase. The symptoms of lack of interfunctional cooperation are lack of communication and/or lack of understanding of what value the other parties add to the process. Lack of respect and cross-functional rivalry may also deter the success of interfunctional cooperation??2- Environmental impact is the process of evaluating the potential impacts (positive or negative) of a proposed project on the natural environment. The goal of this process is to give decision makers a way to decide whether to continue or stop the project. It is also training on what will be implemented before any project or the main activities or what will be pledged to ensure that no means can harm the environment in the short or long term. Therefore, it is the process through which the environmental impacts resulting from an activity are predicted and described. Decisions that affect environmental impact are the modification and improvement of project designs.?Confirm the optimal use of resources?Improving the social impact of projects?Define, measure and mitigate key project impacts?Inform the executors of making decisions and assessing the situation?Preventing irreversible damage to the environment