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Pages:
3 pages/β‰ˆ825 words
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2 Sources
Style:
APA
Subject:
Mathematics & Economics
Type:
Essay
Language:
English (U.S.)
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Assignment: Start-up Budgeting. Value Chain Management

Essay Instructions:

Write a three to four (3-4) page paper in which you:
Summarize the type of manufacturing company you plan to start up and determine how you will design the value chain for your manufacturing company.
Describe the type of budget you plan to implement in your company, and outline the budgeting review steps necessary to ensure that your company reaches the financial forecast.
Select at least four (4) specific benchmarks you will utilize in your company. Explain the benchmarks selected and their benefit(s) to your company.
Explain the type of cost system you plan to implement in your company, and identify any major challenge(s) in implementing your cost system. Suggest a way to overcome the identified challenge(s).
Integrate at least one (1) quality resource using in-text citations and a reference page in your assignment. Note: Wikipedia, Investopedia, and similar Websites do not qualify as quality resources.
Format your assignment according to the following formatting requirements:
This course requires use of Strayer Writing Standards (SWS). The format is different than other Strayer University courses. Please take a moment to review the SWS documentation for details.
Include a cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date. The cover page is not included in the required page length.
Include a reference page. Citations and references must follow SWS format. The reference page is not included in the required page length.
The specific course learning outcomes associated with this assignment are:
Analyze the management accountant’s role in the organization.
Analyze the advantage of budgeting, the preparation of a master budget, and other forms of planning.
Discuss the allocation of costs to divisions, plants, departments, contracts, and products.
Compare and contrast the various management uses of variances.
Use technology and information resources to research issues in cost accounting.
Write clearly and concisely about cost accounting using proper writing mechanics.
Grading for this assignment will be based on answer quality, a logic/organization of the paper, and language and writing skills, using the following rubric.

Essay Sample Content Preview:

Budgeting
Student’s Name
Institutional Affiliation
Manufacturing
The proposed company is to manufacture luxury electric automobiles. The founders have agreed to name it Cougar. Its headquarters will be located in Maryland, Washington DC. The company aims at building a stronger market position in the capital as well as other states. This is the result of the rising need for energy efficient and eco-friendly vehicles as well as the increasing demand for customized luxury automobiles in the United States (Durbin, 2015).
The company which will be owned and managed by four partners who are former employees at Tesla Inc. is expected to be incorporated in Washington DC. The four partners will equally own the company and are expected to bring their vast experience in finance, management, manufacturing and marketing.
The company aims at manufacturing various luxury and SUV cars designed for government officials, business executives and celebrities not only in the United States but also across the world. The company will utilize the current technology to manufacture its products.
Value Chain Management
For companies to have a competitive advantage in their respective industries, they must produce high quality and value products (Porter, 1985). Therefore, the company will utilize Porter’s ideologies to design its value chain, which will contain both primary and support activities aimed at creating value to its products.
The primary activities will involve the following: Product Designing, Resource sourcing, production, marketing and distribution as well as customer care. The product designing stage will be the most crucial one since it is the activity where unique features are introduced to the company’s products. Resourcing sourcing will involve creation of strategic alliances with suppliers that will ensure that the company has the correct materials and are of high quality at lower costs. The production stage will depend on two factors; customer orders and anticipated customers. The customer order products will be produced according to specifications of customers while anticipated customers will be produced and customers are looked for after the product is ready. Various channels will be used in marketing and distribution. Media advertising and show rooms will be used for marketing whereas retailers will be utilized for distribution.
The support activities are those activities that help customers after sales such as servicing and explaining the functionalities of some features where the customer is missing some. This will be done by establishing a customer care centre that will be open for 24 hrs.
Company Budget
The company will utilize a Master Budget to forecast its financial activities. This will be used to provide the overall picture of the company’s financial activities and health. It will inc...
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