Bus 687 Week 2 Q1-22 QBR (1).pdf - Student Audris Hung...

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Page 1 of 5 Student: Audris Hung Q1-22 QBR 5 Key Learnings from Quarter One of this Quater's primary learnings was that price plays such an essential part in a company budget. Also, while deciding the price of a product, the company must consider the impact of price on market share. Increasing the price means that Hisco would be losing market share. As the Financial Manager for Hisco, I decided to expand our reader's costs by a small amount to ensure our market position. Second, I learned that studying and analyzing the competitor could help us make better decisions. Improving our current reader is in the best interest of Hisco so we could create a competitive advantage against our competitors. Creating a better reader could help Hisco market the product as a premier and more effective database reader. Hisco was able to implement Project 2 during this quarter, which ensures that our readers are 30% faster than they are right now. After implementing Project 2, Hisco saw an increase in market share, which put the company at 32.92% above Matek but below Redex (Malshe & Agarwal, 2015). Third, another learning this Quater helps with how to plan and budget by utilizing previous data. Hisco must be ready to respond quickly as conditions in the market can change. While working on accounts, managers must be aware of how much cash flow is available, and in Hisco case, the line of credit is essential because we cannot exceed the given budget. Moreover, following the budget help us in determining the best price for our reader. We must adhere to the suggestion that Stan Sloane (Hisco's Owner) gave us not to increase or decrease the cost from 20%. Fourth, I learned that saving money, in the long run, can be more beneficial for the company. Mr. Ferris suggested implementing solar panels that would save Hisco 20% on the electrical bill, which will add money to our overhead and increase our budget in other areas, which can be utilized in marketing or manufacturing. Lastly, while working on the first Quater, I learned that each company has limitations but must use resources to its advantage. I analyzed the Cash Flow Statement, Income Statement, and Balance Sheet to understand how the company has been utilizing its resources in the past. I was hired to turn the company around because of the past failure year in sales. And as I

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