Gulliermo Furniture Store Paper
University of Phoenix
In this scenario we are going to look at Guillermo Furniture Store Inc. and how the way of the mom and pop business has fallen victim to 21st century technology and ways that Guillermo can be able to compete in the market place in 3 areas: 1. Budget and performance 2. the area of ethics and 3. accounting information needed to make the necessary business decisions that need to be made.
All through the history of civilization, we have thrived on the entriprenuial spirit where one can dream of starting a business and in turn expect to either reap the rewards from the profits it makes or fall by the waistside by either internal or external decisions made that will affects its ability to make a profit. In the case of Guillermo furniture store, we start off with a very profitable business in a resort area of the world. However, like most businesses, technology caught up with it. “In the dawn of the computer age, the stakes weren’t as high and the market wasn’t as large, so I’d suggest that companies were more likely to take risks on innovative technologies that might appeal to only a small subset of the population. Today with everyone using technology I suspect that businesses fund proposals all assume a large potential audience which in turn causes the ideas to be more vetted on their business chances than their technological innovation.”(Engst 2009)
The use of technology made it to where Guillermo was able to use his budget and performance reporting effectively once he mastered it. Probably in the olden days Guillermo was the only business in town of his type and he really didn’t have to rely on anything other than word of mouth from the townsfolk when they traveled abroad or the tourists that came in to tell him of what was going on in other areas of the world on the area of competition. By smartening up and using the technology available to him, he was able to...