Business Proposal for the Improvement of Thomas Money Services Inc
A Business Proposal for the Improvement of Thomas Money Services Inc
Introduction
Thomas Money Service Inc., aims to provide strategic improvements that can increase profitability and turnover of the said firm. This will be done by illustrating sound strategies that place an emphasis on revenue increment, maximization of profit, pricing strategies, product differentiation of products and cost minimization. The aim of this will be to determine the best interests of Thomas Money Inc. and that of its consumers and clients. Analysis of production data from University of Phoenix is used as the model for this proposal. The information and production data are used to generate ways to increase revenue, maximize profit (through marginal revenues and marginal cost theories), finding the right price and non-price strategies and estimating the costs and revenues. Creation of barriers to entry is essential to any entity, and different ways of doing this are discussed. Cost saving strategies and product differentiations are fundamental aspects that have not been left out.
Increment of revenue and determination of the profit maximizing quantity
A two-fold strategic approach for each goal is followed to increase revenue and maximize profits. Increasing revenue is the goal and continuous effort of any company regardless of how the economy is doing. Investing in other market segments can increase the revenues of Thomas Money Inc. For instance, a subsidiary in the medical field would be an ideal investment. Here, the focus would be on construction for on new buildings, as there is a need for hospitals in the health industry, with all the construction equipment FGI has it can contract its equipment to an organization who does construction. There has been a reduction of 30% for the need for new homes and business financial services. However, investments into other already existing segments like, medical financial services are increasing. This will increase revenues and add a
Introduction
Thomas Money Service Inc., aims to provide strategic improvements that can increase profitability and turnover of the said firm. This will be done by illustrating sound strategies that place an emphasis on revenue increment, maximization of profit, pricing strategies, product differentiation of products and cost minimization. The aim of this will be to determine the best interests of Thomas Money Inc. and that of its consumers and clients. Analysis of production data from University of Phoenix is used as the model for this proposal. The information and production data are used to generate ways to increase revenue, maximize profit (through marginal revenues and marginal cost theories), finding the right price and non-price strategies and estimating the costs and revenues. Creation of barriers to entry is essential to any entity, and different ways of doing this are discussed. Cost saving strategies and product differentiations are fundamental aspects that have not been left out.
Increment of revenue and determination of the profit maximizing quantity
A two-fold strategic approach for each goal is followed to increase revenue and maximize profits. Increasing revenue is the goal and continuous effort of any company regardless of how the economy is doing. Investing in other market segments can increase the revenues of Thomas Money Inc. For instance, a subsidiary in the medical field would be an ideal investment. Here, the focus would be on construction for on new buildings, as there is a need for hospitals in the health industry, with all the construction equipment FGI has it can contract its equipment to an organization who does construction. There has been a reduction of 30% for the need for new homes and business financial services. However, investments into other already existing segments like, medical financial services are increasing. This will increase revenues and add a