Some Questions on Business Administration

Explain the challenges of outsourcing

There are various challenges that face outsourcing decisions irrespective of how well the program is organized, budgeted, or staffed. First there is a challenge of dispersed location whereby, many firms engage consultancies in different geographical areas that adds additional complications to the scheduling and delivery of work. Mostly, the outsourced work has to be localized in various languages which also calls for specific resources costing the organizations time and money. Secondly there is a challenge of lack of control where by organizations that outsource some of their activities are left with little or no control over those activities. Also, organization often are incapable of keeping up with the quality and consistency of the outsourced activities across the channel. Furthermore, evaluating the results and findings of the firm-focused information regarding outsourced activities is hard or impossible to get. These challenges prohibit the firm from obtaining the actual insight of outsourcing.

What is a balance sheet? How does it support business?

A balance sheet refers to financial statement which sums up a firms liabilities, assets, and shareholders equity at a given time. These three segments offer investors an insight as to what the firm owes and owns, and the amount invested. A balance sheet keeps the firm owners informed about their business financial standing. It tells a business owner if the business meets the requirement for additional credit or loans. It also supports a business by providing warning signs so that business owners can solve any issues before the ruin the business.

Identify a source of business financing.

One of the sources of business financing is equity financing which involves exchanging a section of the ownership of the firm for a economic investment in the firm. An equity stake in a firm can be in form of membership units or preferred or common stock if it is a limited liability firm. Equity financing is a means of raising finances to meet liquidity requirements of a firm by selling a firms cost in exchange for money. The section of the stake is dependent on the promoters ownership in the firm.

Should a start-up organization invest in an IS immediately? Why or why not

It is not necessary for a start-up business to invest in an information system immediately. It should consider waiting until it is sure that the IS will offer the organization the actual benefits since it requires a lot of time and money.

What is database management?

This is a computer-software application which interacts with other applications, end-users, and the database to capture and evaluate data. It is used to maintain accurate records on a computer afar what is practical to do with a normal spreadsheet program. A database management system is useful when information is a huge amount that would become impossible in spreadsheet form, the information is prone to numerous changes, or when records are for ongoing use.

References

Ciampi F. (2009). Emerging Matters and Challenges in Business & Economics: Identified Contributions from the 8th International Conference. Firenze University Press.

Gill P.S. (2010). Database Management Systems. I. K. International Pvt Ltd.

Kumar V. (2017). Balance Sheet MADE Easy eBook. Vinod Kumar.

Rigby G. (2011). Sources of Finance for Start-up and Expanding Businesses: An Instant Guide. Harriman House Limited.

Whiteley D. (2013). An Introduction to Information Systems. Palgrave Macmillan.