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Personal Wellness Angela Has Been Working for a Local Small Business Called

question 172

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Personal Wellness
Angela has been working for a local small business called Personal Wellness for the last three years. It is a retail business that sells sporting goods equipment. When she started her job, she noticed several things as causes of the business not doing as well as the owners were expecting. Angela has been thinking of starting her own small business because she feels she has learned a great deal through working for Personal Wellness.
Due to her education, attention to detail, and organization skills, Angela's manager asked her to create a business plan for Personal Wellness. The manager hoped that this plan would help organize, structure, and focus the business. As part of the plan, Angela suggested that Personal Wellness contact a group of senior and graduate students to provide management counseling for the company as she is concerned that her leaving the company may be detrimental to the slow, but forward, progress that the company is making and her connection with the owners is strong. Angela's most immediate concern is keeping the business from failing.
-Refer to Personal Wellness. When Angela suggested that the company contact a group, what type of group was she referring to?

Definitions:

Variable Costs

Expenses that directly fluctuate in relation to production or business operations volume.

Maintenance Hours

Maintenance hours tally the time spent on maintaining and repairing equipment, machinery, or systems, crucial for ensuring operational efficiency and longevity.

Return On Investment (ROI)

A financial ratio used to measure the profitability of an investment, calculated by dividing the net profit from the investment by its initial cost.

Residual Income

The income that remains after deducting all required costs of capital and operating expenses from net income.