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Growing a Web-Development Company (Scenario)

question 10

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Growing a Web-Development Company (Scenario)
Vincent and Alice are partners in a one-year-old web development business called Spy-der Web Execution. Vincent comes from a graphic design background and specializes in the look and feel of web projects. Alice comes from the computer gaming industry and is a highly experienced programmer and web developer—with a particular leaning toward Wordpress as a website backbone.
So far they have brought in less business than they had anticipated—about 25 percent less. As a result, they are operating at just a little below break even, and it is costing them about $500 a month to cover expenses (including rent on a small office space where they meet clients) . The situation is disappointing and was not anticipated by either Vincent or Alice.
As with many businesses like this that are easy to get into with little investment, they did not do a full feasibility study or business plan. They are unsure about how to divide up their responsibilities (who is responsible for what) , and therefore neither person is proactively going after new business, managing each project's budget, and determining even if they are making money on the work.
You are now in the role of advising the partners about a number of issues.
-One of the activities the two partners have engaged in effectively is keeping abreast of what is happening in the marketing world as well as what web developers around the world are creating and the related technological innovations along the way.This is a great example of ________.

Definitions:

Accumulated Depreciation

Represents the total depreciation expense allocated to a fixed asset since its purchase, reducing its book value over time.

Industrial Crane

A type of heavy-duty machinery used for lifting and moving heavy or large objects in industrial settings.

Equipment Sale

The process of selling machinery or technology, typically used for business operations, possibly as a way to liquidate assets or upgrade facilities.

A legal right granted to the creator of original works, providing exclusivity to use, distribute, and modify the work for a certain period.