10_InClassActivity_BudgetingAtAdvancedTechnologies

10_InClassActivity_BudgetingAtAdvancedTechnologies - ACC...

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ACC 333 (Farrell) Class 10 Fall 2011 Page 1 of 2 In-Class Activity - Budgeting At Advanced Technologies Five years ago, Jack Cadence and two colleagues left their positions with a large industrial firm to start Advanced Technologies Company (ATC), a software design firm. Cadence, the major owner, obtained venture capital, and ATC began work on the design of a unique software package to make cloud computing easier for firms. Market acceptance of the completed software package has been quite good, and Cadence has been able to raise additional capital to operate during the initial stages of product marketing. Cadence focuses his efforts on managing the company, while the other two minority owners focus on product design and development. ATC has now began development of a new software package which will allow more effective usage of the power of cloud computing. Because of the continued sales growth of the initial software product and the ongoing development of new products, Cadence hired several highly experienced marketing, sales, and production managers, and has allowed them to build staffs for their departments.
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