Fingle A Bagel

1) Fingle A bagel is collecting data from internal as well as external sources. The internal source is the point of sale system which tells the managers the total amount the company needs to collect in order to have break even or make profit. The point of sale system also helps in the daily accounting where the managers match sales reported with bank deposits and any error can be detected easily. External data collection source is the Fingle A bagel’s loyalty card. The card is an excellent way for the company to learn more about the buying habits of its loyal customers. With this method Fingle A bagel collects a wealth of customer data to analyze and use in targeting its marketing efforts.
2) Keeping track of cash, sales revenue and expenses on a daily basis definitely reduces the load at the end of the month and reduces the chances of making errors. Such an accounting system can also help in sticking to a budget as well as help making sure that the budget is accurate. By doing this we are actually training ourselves to be more observant and getting into the habit of remembering details and little awareness and organization will surely lead to less frauds in the company as everything will be under a watch.
3) Fingle A bagel might want to track ROI (return on investment), ROA(return on asset) and debt to equity financial ratios because they can provide small business owners and managers with a valuable tool with which to measure their progress against predetermined internal goals, a certain competitor, or the overall industry.
4) I do not think that Fingle A bagel’s loyalty card had any effect on its current loyal customers as they already are regular customers. But it might have helped Fingle A bagel to “increase” its loyal customers by offering a free bagel sandwich, coffee or fruit drink after a collection of certain points. This might have attracted many people towards Fingle A bagel’s products. The benefits of the loyalty program are-
Current loyal