What is the relationship between cost of doing business, company tax rates, and business start ups.
My personal opinion about the learning experience that I had in this entire process will be discussed in the following segment: So far my learning experience has been quite good and it can be also said that my learning experience was also quite positive. Mainly learning experience depends upon the several factors. My learning experience is entirely based on the past two assignments that have been already submitted. In the assignment 1, a business research has been conducted on the relationship between the cost of doing business, business start-ups and the tax rates of the companies (Bryman and Bell, 2015). However, a critical analysis has been undertaken for presenting some with regards to the topic. In this particular study, it has been learned that there is a direct relationship between the cost of doing a business and also business start-ups. It has been learned that the cost of doing business depends upon the several factors such as the consumer base, the size of the business and the cost of input of goods to a great extent. On the contrary, it can be also said that identifying the learning experiences might make an individual feel great about themselves but describing the basic reasons for feeling great can be really hard most of the times. However, the value of this particular experience cannot be quantified in words but from the business research point of view, it can be said that proper knowledge about the costs of doing a business is absolutely necessary. It has been also learned that company taxes play an important role in the business start-ups. Throwing light on the above-mentioned statement it can be said that before conducting the business research it was not known that how much company taxes are vital for a start-up business. Hence, the value of this learning experience cannot be quantified in words.
There are many ways in which this specific learning experience can serve me but four of the elements will be highlighted where the learning experience will serve me at an exceptional rate:
The entire study in the assignment 1 and 2 highlighted about the business research and it will be quite helpful and it is also completely related to my course. The learning experience with regards to my course will serve me in the following ways: It has enhanced my leadership skills while conducting the research, I also came to know about the social responsibility and the ethics that is required during forming a start-up and in future this particular learning experience will also serve as developing my managerial proficiency.
Program: The learning experience will also serve as one of the important elements in my entire program because an understanding about the research planning process will be demonstrated, and also I will be also able to address the particular issues that take place in the business research report.
The entire learning process will be as one of the main elements in my future career when I will open my own business. No other learning will be helpful as this assignment as it has provided me the hands-on experience and also imparted I a lot of knowledge in terms of business which is otherwise was not at all possible if this entire study was not conducted. In my future career, I will be able to evaluate and contrast different business research methodologies and then apply them to a particular project with regards to my business.
In general life also this learning experience will be one of the life saviors because I have gathered a huge amount of knowledge from my previous business research that can be applied even in the general life.
The objectivity with regards to the learning process will be highlighted in this section in terms of hearing, reading, seeing and also the activities that were carried out by me for successful completion of the entire business research process. Firstly, I conducted the entire business research in the assignment 1 and assignment 2. In assignment 1, a Literature review about the entire business report has been carried out and it included a lot of vital elements in it such as the description of the business environment, main sources of finance of the business structures, the current trend in Australia with regards of the business start-ups where highlighted. Furthermore, the literature review was divided into two main parts: The relationships between the start-ups and the company tax rates and the relationship between the business start-ups and cost incurred for conducting business (Zikmund and et al, 2013). In assignment 1, it has been concluded and also learned that there is an important relationship between the business start-ups, costs of carrying out a business and also between the company taxes. On the other hand, it has been also learned that there are some of the project limitations with regards to opening a start-up that must be considered by an entrepreneur. In the 2nd assignment, the research proposal with regards to the business was discussed from that assignment it has been learnt that the different types of policy reforms in the areas that are measured generally under carrying out the business and it has been also found out that there is a deep relationship between the cost-effectiveness of the start-up and the tax rates.
The knowledge that has been gathered from reading and hearing the lectures during the class are as follows: Firstly, the college provided me the opportunity to select one of the most relevant research topics for conducting the entire business research. Several case studies were also presented so that relevant knowledge about the subject matter was gained. Lessons from the class taught me that business research is basically a field of the practical study which an organization obtains a certain amount of data and analyzes it so that they can manage their firm in an effective and efficient manner. It has been also informed and learned from seeing and hearing from the class that business research contains customer feedback, financial data, competitive analysis and research of the product/services.
The business research was quite helpful in my entire learning process that will be discussed in this section. Firstly, in the assignment 2, there were several financial data that has been presented in the entire research proposal from that it has been learned what costs money to the business and what are the areas from which a business can acquire a huge amount of money. It has been also learned that if the data are reviewed by the managers then they can find the employees, products that are most effective and efficient and also can judge the areas from which the unnecessary costs of the business are arising. Secondly, it has been learned that there is a significant relationship between the company tax rates and the start-ups. Thirdly, conducting the business research also made me realize that research proposal is quite necessary as it will be outlining the objectives of the business along with the procedures and methods that will be used in each and every part of the project. Lastly, it has been also learned that by conducting a business research an individual can gather a lot of primary information with regards to their start-up. Moreover, the secondary information about the business can be gathered from the different sources. It is the type of information that can be obtained easily.
The reason for conducting the activities in the assignment 1 and assignment is basically to gather an insight into the business research closely. Firstly, the business research activities that were conducted in the assignment 1 and 2 are not only necessary for me as a student but it will serve as one of the vital elements during my professional life in future. The particular activities in assignment 1 and 2 suggested some of the components that were crucial for finding out the diseases of the business along with the cure. The research was also mandatory for confirming that my ideas were supported by the previous researchers and their studies or not. Secondly, the specific activities in both of the assignments also suggested that in future whenever I open my own start-up then it can be successful as a previous research has been already conducted on this subject matter. Fourthly, the activities in both of the assignments were also quite important for proving the lies and supporting the truths that will benefit an entrepreneur and a business in future (Eriksson and Kovalainen, 2015). Fifthly, the specific activities in the assignment 1 and 2 also highlighted how it can be quite helpful for the future managers or an entrepreneur who is willing to open their own start-up. Sixthly, the specific activities were also carried out because it can help a business in their decision-making process to a large extent. The activities will serve an entrepreneur in following ways: They will have a crystal clear assessment about their potential competitors, adopting an approach that is suitable for their product and the business possibility for surviving in a particular geographical region.
The entire learning i.e.; the business research will help me to a large extent in my future profession and the reasons will be explained in this following segment:
Firstly, the business research should never be underestimated. If I want to start a successful business that is a start-up in the future then business longevity will be enjoyed because I have already conducted a proper business research so it will help me to understand the target market, determining the problems of the customers and potential competitors will also be highlighted. However, the business research can be also carried out at the different stages of the life cycle of a business (Collis and Hussey, 2013). Secondly, the business research will also serve as important elements with regards to what exactly my consumers want and it will also inform me how the departments are working and then it can be further contrasted against the projections for identifying if any adjustments need to make in the business. Thirdly, it will also help me to understand the emerging challenges and trends that the firm might face in the present times as well as in the future also. The calculations in business research will help the firm to understand the above-mentioned elements and act accordingly. Lastly, with the help of the business research, I will be also able to realize how strong my firm is and the best possible way for marketing the main potential consumers. Overall, it can be concluded that business research will be the oxygen of my profession as it will give me the main elements that are required for a business/start-up to survive in the marketplace.
Collis, J., and Hussey, R. (2013). Business research: A practical guide for undergraduate and postgraduate students. New Jersey: Palgrave macmillan.
Eriksson, P., and Kovalainen, A. (2015). Qualitative methods in business research: A practical guide to social research. London: Sage.
Zikmund, W. G., Babin, B. J., Carr, J. C., and Griffin, M. (2013). Business research methods. London: Cengage Learning.