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Management Accounting Report - Essay Example
Author : danielle32
Finance & Accounting
Pages 6 (1506 words)
Name: Course: Date: Management Accounting Report Part A The subprime mortgage crisis of 2007-2008 affected many businesses, most in the developed and the developing economies, considering that it swept the whole economic and financial platforms of the countries affected, which then transferred the same to the developing countries, through reduced business, which in turn reduced the returns earned by such businesses from the exports to the developed countries (Hoque, 2005 p477)…
Therefore, while running a business, the management has to focus both on overcoming the current economic hurdles as presented by the existing business environment, as well as focusing on how the anticipated future challenges can be overcome. One of the most vital tools for enhancing business survival in a challenging and competitive business environment is enhanced marketing/outreach efforts (Hoque, 2005 p472). This strategy ensures that a business keep reaching new customers and markets, while ensuring that it still keeps the current market base well informed on its product or service range. Promotion and advertising are strategies that helps a business to remain relevant and competitive, considering that the more the number of people who knows about the existence of the business and its products, the higher the chances of such a business getting more customers. ...