Financial Detective College Essay Sample
A business is characterized based on its economics and strategies. For a business to be successful, these two aspects have to be considered carefully. Economics and firm strategies differ depending on the type of industry the company is operating in. There is a comm. Belief that while other industry players may require a string asset base, there are other payers whose service do not require the asset base but may require knowledge base. Such players include consulting firms who rely on information and knowledge. In the other part is the case of the airline firm whose main purpose lies in transport. It is therefore important that such a company ensures that its asset base resonates well with the expectations’ of the industry.
Financial strength is important aspect of any firm success. As a result, one has to understand the economic implication of financial prudence in a firm based on its expenditure as opposed to its income. While it is easy to spend, a company may find it difficult to replace the spend cash if it does not has a strong return on investments formula (Financial detective, 51). This is the strategy that will ensure the company does not have any losses as it seeks to recoup the amount spend on its expansion strategy. There is also the aspect of planning in business success. This is an important aspect of firm economics as it offers the best way of understanding the importance of firm management and achievement of its goals. Here is a general understanding the performance of the firm is only as a result of the good planning and carefully though our plans. There is a general understanding that one has to ensure the need to embrace diverse approaches in ensuring that the firm achieves its economic targets. These approaches vary based on the company’s approach in generating profits and staying competent in the industry. For the beer manufacturers, it is important that such companies institute strategies that fit into the consumer patterns. These are approaches aimed at ensuring the there is a general understanding of the need to embrace the general understanding of the company base on its financial returns.
There is also the aspect of taxes that a company has to put into consideration. Taxes are the most demanding aspects of financial investments as they increase with profits generated. It is therefore important to note that with the existing parameters, in industries, it is nearly impossible to archive the different approaches in financial establishment as companies seek to achieve a level playing field among themselves. For pharmaceutical firms, the concept is different as they both concentrate of the need to meet the strict consumer habits that may not be evident in other industries. The impact of prescription drug manufacturing in the industry is as a result of strict regulations. Prescription drug manufacturers are driven by market performance and not their projections. This is because the companies are fully regulated by the number f prescriptions being made available for drugs. It may therefore require the firm to deal in other form of prescription drugs instead of its mainstream brands due to a rise or fall in market influence on the products (Financial detective, 53).
There is a need to address the importance of this approach in any financial establishment as a way of instituting better approaches in the industry. During its formation, drug industry faced a lot of opposition from different quarters. It has been viewed as a powerful global bureaucracy where unelected members are empowered to decide the fate of democratic laws. This meant that member countries had to change laws that contradict the drug industry agreement or face economic sanctions. This made 35 states to reject its membership. The free trade that drug industry advocates for has been confirmed to be detrimental to the economies of developing countries.
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