Biz Cafe experience - HOMEWORK PDF

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Daniel F. Vera Girard Draper Contemporary Business Practice May 4, 2015 Biz Cafe experience

I learned a lot of things using Biz Café, mostly about a business. It provides a brief overview of the basic parts to running a business. During the first decision, I didn’t know what to do because it was my first time into a program like this. Then, after going through all the decision I start to understand that every part of the business has to be in equilibrium. As a manager of my coffee shop, I understood the stress of trying to know the right thing to do because if I didn’t make the right decision for the business it would have ended in a fatal loss of profit. For instance, a thorough understating of a business situation will help you make better decisions. I enjoyed Biz café because I got the opportunity to learn more about the decision-making process for each simulated week. I gained a practical understanding of how various factors interact and affect each other. By exploring management, marketing, operations, and accounting decisions.

I mostly worked with Jahaira through messages because we don’t live on campus. We decided every detail for each weekly decision. We couldn’t work with Caitlin because she never replied the messages, even though we waited for her, she replied after we have already made the decision for the week, so we basically had to work without her. Caitlin doesn’t work with us too much, but she helped us with the name of the coffee shop. In conclusion, I did all the weekly decision with Jahaira using our phones.

Daniel F. Vera Girard Draper Contemporary Business Practice May 4, 2015

What is a Trust?

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A group of companies that merge with the purpose of reducing competition and controlling prices in the market an arrangement under which the owners of several companies transfer their decisionmaking powers to a small group of trustees there are two ways to form a trust 1) Vertical Integration-company owns all the companies in the supply chain 2) Horizontal Integration-company owns many companies that sell the same product

The History of Trusts The formation of trusts rose during the Industrial Revolution - The largest trusts formed were the steel industry by Andrew Carnegie, and the oil industry by John D. Rockefeller - The U.S. government began to see these trusts as a threat to the national economy and passed Antitrust laws What is an Antitrust Law? -prevents unfair business practices -protects consumers from high prices -the three main ones are the: 1) Sherman Antitrust Act 2) the Clayton Antitrust Act 3) the Federal Trade Commission Act...