Assignment Instructions/ Description
Week Two Discussion and Answers. Paragraph format for each question
Cleaves, Cheryl, Margie Hobbs, Jeffrey Noble. Business Math, 11th Edition. Pearson Learning Solutions, 12/2016. VitalBook file.
1. Read Ch. 8 of Business Math. Consider the following as you read:
Understand discounting and invoicing terms?
2. Read Ch. 9 of Business Math. Consider the following as you read:
How to evaluate markups based on cost and selling price?
3. How to evaluate markdowns.
4. How to evaluate the unit selling price of perishable goods.
5. Discussion Topic/Add thoughts to the bottom discussions as well.
Do you really want to be the boss and not grasp basic pricing, discount calculating as well as accounting and the finances involved with your business. Maybe in the past we felt that we could get by with just understanding what we were selling and leave a lot of what made the business work to the accountants and finance people. This could work. But it would work better if you were more well rounded and became a numbers guru yourself! In this current economy, the days of just understanding your product is not enough anymore.
There is a certain amount of importance attached to understanding mathematical concepts in business, but even more the analytical thinking that mathematics requires. There's nothing more important than gathering information that we understand and using this information to solve a problem. Rather than "jumping to conclusions", there is a logical process that can produce better results! Do you see people at your job using logical conclusions or jumping to conclusions?
7. Recall the readings and activities you have completed this week and describe the one or two points that were least clear to you. What questions do you have that would help you understand these points better?You can talk about Mark ups and Mark downs.
8. Why it is beneficial to use the following methods in business?
· Evaluate markups based on cost and selling price.
· Evaluate markdowns.
· Evaluate the unit selling price of perishable goods
Post a Comment