Database: hold information of contacts, suppliers - Allow him to contact them if about promotion deals or if there is any difficulties with equipment. Staff contact; hours, wages etc. keep on track
1 of 6
business software help Wade manage 2
Spreadsheet: financial costs can be calculated helps him with a financial plan
2 of 6
Benefits of a business software to Wade?
keep database info up to date and refer to any records. - He can then base his decisions on previous records Reduce his working hours - only wanted to supplement pension. Wade not experienced so would naturally work long hours. This is cut.
3 of 6
Why would Wade's cash flow forecast be inaccurate?
difficult to measure competitor's behaviour (new or old - 39% growing market) costs higher than expected eg tax or inflation knock-on effect with paying loans no experience
4 of 6
Problems Wade could face in forecasting his cash
seasonal business. slow inflow 5,7,12 days means slower inflow external factors; interest rates, competitor behaviour
5 of 6
Affects on BEP
VC increase/decrease 'As a result' contribution per unit increase/decreases Therefore 'BEP' increase/decreases Which means Wade should raise prices/can lower prices
6 of 6
Other cards in this set
Card 2
Front
Spreadsheet: financial costs can be calculated helps him with a financial plan
Back
business software help Wade manage 2
Card 3
Front
keep database info up to date and refer to any records. - He can then base his decisions on previous records Reduce his working hours - only wanted to supplement pension. Wade not experienced so would naturally work long hours. This is cut.
Back
Card 4
Front
difficult to measure competitor's behaviour (new or old - 39% growing market) costs higher than expected eg tax or inflation knock-on effect with paying loans no experience
Back
Card 5
Front
seasonal business. slow inflow 5,7,12 days means slower inflow external factors; interest rates, competitor behaviour
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