Expected revenues and expenses for the first year

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Reference no: EM132965

Question :

Yuan Xi has just opened a company that imports fine ceramic gifts from China and trades them over the Internet. In planning his business, Xi did the subsequent:

1. Listed his expected revenues and expenses for the first year of operations

2. Evaluate that he would keep his expenses low and prepare enough revenues in the first four months of operations so that he could have a positive cash flow by the fifth month

3. Decided that he wanted the company to provide him with income for a good lifestyle and funds for retirement

4. Prepare a complete list of goals, procedures, objectives, and policies relating to how he would find, buy, sell, store, and ship goods and collect payment

5. Decided to focus his business on providing customers with the finest Chinese ceramics at a favorable price

6. Decided to expand his website to add ceramics from other Far Eastern countries over the next five years

7. Decided to exclusively rely on the Internet to market the products match each of Xi's actions to the components of the planning framework: goal, mission, strategic objectives, tactical objectives, operating objectives, budget and business plan.

Reference no: EM132965

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