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Discussion Topic:

Once your chosen business is more established, you decide to get involved in a joint venture with a foreign firm. The contract for the joint venture gives you the right to buy the project in three years. You worry that the foreign firm has been bribing government officials to obtain an economic advantage over other companies. Do you have any reason to be concerned about the possible bribery if you purchase the venture in three years? Why or why not?

Week 5 Discussion Forum

by 
Roberta Henriques
 – Wednesday, May 12, 2021, 6:51 PM
Number of replies: 1
Hello Everyone,

The business that I am interested in starting is a restaurant that will operate in my neighborhood. Although people will be welcomed to take their meals from the restaurant, we will also offer delivery services to the clients who want food delivered to them. How much startup capital that small business is the first statistics mentioned in the article that I will consider because I need to understand the various sources that I can approach for capital of starting the restaurant. The second one is the loan approval rate for small businesses and this information is necessary if I am to consider loans as a source of capital for the business. The third factor includes the various challenges of managing small businesses. I need to learn about these challenges if I am to develop effective mitigation techniques. Fourth statistics is the most frequent reason behind failure of small business and finally how often do small businesses fail. This information will help me understand factors to avoid for the business to remain sustainable.
When it comes to business, several variables are involved and that are necessary for the success of a business. My business is a restaurant, and the best variables that I can select from it are the direct cost of materials and customers. These two variables are important to my area of business because the material will ensure that I can deliver on the objectives of my business, and therefore they are necessary. Customers, on the other hand, are essential because they will offer a market for the business. Therefore, I would love to analyze these variables because they will provide me with insight into how to conduct my business.
The main relationship is that if the restaurant has access to quality material then it is likely that the number of customers will increase because of the quality of food offered. Many customers prefer quality and delicious food and all this depends on the kind of materials delivered to the restaurant. This means that I will have to select my suppliers appropriately to ensure that I receive the most quality products in the market. This relationship also tells me that these variables are important for the success of my business.

Reference:
https://www.economicshelp.org/blog/2177/economics/opportunity-cost-definition/