Please provide a simple outline of your signature assignment. The outline should include a cover page, the title of your paper, and the topics of your paper, including a reference page. Write the firs

I NEED AN OUTLINE OF THIS WORK

*****Please provide a simple outline of your signature assignment. The outline should include a cover page, the title of your paper, and the topics of your paper, including a reference page. Write the first portion of your paper - this would be the short introduction of your business with a minimum word count of 150 words.

In week 1 of this course you were asked to identify a business that interests you. Throughout this course you completed several assignments pertaining to your identified business. The signature assignment will pull together these assignments and you will submit a paper that addresses the following:

1. Explain your business (150 WORDS)

2. Explain how business statistics are important to your business. Elaborate on your five chosen statistics are important from week 1. (350 WORDS)

Well, going through this really hard time is very hard to think about a new business or creating a new one. I think we have to re-invented or re-creating the existing ones in this hard time of economy status that we are presenting right now. I’ve always wanted to be around fashion business, I used to work with it before and I want to keep working in that area. As everybody knows the time is not appropriate to invest in anything else if not something that will make you good or comfortable in these isolation days. From now on we can expect to happen anything in the business society, everybody is struggling to keep up with their business and jobs, it’s a sad time but not the end. So, thinking of the future that anyone knows yet what can happen from now on, but for sure things will change, ways of thinking and consuming fashion will change too, it has to, based in what’s going on in our planet now.

The business I decided to get involved in is already on the market and it has very big competition, but I ensure that fashion industry will be always like this until you bring something new and on trend. My business will work with fashion clothing and style appropriate for life changing which is what we are going through at the present. It will be a fashion brand ( I didn’t create the name yet) which sells finest outfits style that is functional and cute embracing the woman to keep positive outlook while they are working from home or even girls that just like to be comfortable and cozy dressing it with style inside home or even outside. As I mentioned, many brands already work with this type of style, but I want to bring difference for my brand and work with 100% of sustainable and upcycle materials that last longer for affordable prices, our products will vary according to our customers needed to be quite comfortable and positive in their choices , such as cozy and style activewear, work home clothing and women’s outdoor apparel. I want to bring the positive impact and thinking of our brand, our customers are not only wearing the brand but also helping the environment of the planet which we are needing the most in this hard that we are going through.

My business is still working on some new ideas, it’s not mature yet but I’m still working on it. I believe that the 5 statistic that mentioned in the article would be important for my business are:

1. Small business Statistics: the big challenge of running a small business

It is important to understand the business and know the challenge that the business will face during its progress such as better performances and profitable fails. From the statistics already existent in the market it can determinate the proper action to take in the future.

1. Small business financing statistics: Capital most small business need

According to the statistics I can study how much my business will need and where the financing come from, with some statistical capital information I can decided what is the best to avoid mistakes and get the right term of funding.

1. Small business Credit Score: the most well know credit score

Credit Score is very important for any type of business to get a loan, and as I can see right now most small business are facing very hard time in their financing and those are important factors such as payment history that could change decisions of lenders approval. So, from my point of view those statistics and information will help my business to pay attention on the negative factors that could stay in the credit reports.

1. Entrepreneurs and the economy statistic

The article just confirmed what I was thinking before, Small business is very important for the economy and it creates a lot of jobs. It’s a good thought that could be relevant and encourage who are thinking to start a business or keep up with their business.

1. Startup Statistics: Failure and Success.

I think those are important statistic for the progress of my business, before starts the business is relevant to understand the market statistic data and the risk that the business could take during the progress of the business, making future predictions and also analyze the business data, so based on these information is possible to set decisions and conclusions for future business, it also help to control the business finance and running the business if that needed apply for loan. Working with sustainable growth could be very tough, it demands strong and proactive team that have ability to understand the market using statistical data based on the past to makes change for the future and manage the actual economy situation of the business.

Reference:

Schmid, G. (2019, Sep. 5). Small Business Statistics: 19 Essential Numbers to know. Retrieved from https://www.fundera.com/blog/small-business-statistics

1. In week 3 you identified two variables that are important to an area in your chosen business. Elaborate on the significance of your chosen variables .(300 WORDS)

My business is sustainable fashion clothing online store working with upcycle material that last longer and for affordable price as I mention the first week. Fashion online business is very competitive platform, so the two variables that are very important to analyze would be Price and Costumers.

Price will be a component to analyze in my business, when it comes a competition analyzing the competitors price I can find the average market of my products and it can help me stablish the best price, once I want to make it more affordable for my costumers , so this analyze could give some of data to maximize profit margins, and show the risks that can affect the sales and the business based on the production costs. The second variable will be Customers, which is very important to analyze the average of people that are buyers of sustainable clothing and also it can help me to analyze which product attract more or less sales.

The regression analysis will estimate and quantify the relation between these two variables, for example exanimating these two variables it can give me future prediction such as what is working the best for the business estimating sales based in economic growth, also the numbers of shoppers that are interest in sustainable clothing, age and income which will help to make accurate and better decisions for the business.

1. In week 4 you completed a sales forecast for the chosen business. Provide a written rationale for your sales forecast with detailed explanations. Integrative your spreadsheet with the sales forecast into the Word document. The narrative should be no less than 350 words and the spreadsheet forecast should not exceed 1 page.

FOLLOW THE WEEK 4 ON ANOTHER ATTACHED EXCEL PAPER

The business that I created is sustainable fashion clothing online store working with upcycle material that last longer and for affordable price. The brand works with 100% of sustainable and upcycle materials that last longer for affordable prices. Considerig the nature of brand that it is not only cheap but promotes conservation of the eneviromemnt. There is growing demand for the greener products as people are becoming aware of the need to protect and conserve environment (Wicker, 2019). Therefore, sustainable fashion online store is expected to continue recording increasing. In this assignemnt that demand forecastinng of the sales, three asssumptions will be made:

Assumption 1: The brand for the sustainable fashion clothing online store will be CloSustain. This name that is borrowed from two terms which are clothing and sustainable which means it is clothing fashion that will seek to sustain and conserve the environment.

Assumption 2: Single selling price is expected to apply to the product for the predicted period of the time. The selling price is expected to be $4 per unit. This lower selling price to attract more customers and continue increasing salles each more for CloSustain Brand.

Asssumption 3: Sales will be forecasted for the next 36 months, that is from 2020 to 2021. In order to make this forecasting, historical sales data is expected. As result of this historical sales units for January to December are assumed to be the following: January 2000 units, February 1950 units, March 2100 Units, April 2050 Units, May 2160 units, June 2190 units, July 2090 units, August 2200 Units, September 2250 units, October 2260 Units, November 2280 Units and December 2350 Units. This historical data will be used as basis for creating model that will be used in sales forecasting for the next 36 months.

Reference

Wicker, A. (2019).Fashion’s growing interest in recycling clothing. Retrieved from https://www.voguebusiness.com/companies/fashion-brands-recycling-upcycling-resale-takeback-sustainability

1. Describe how you might use decision models in your business (week 5). MINIMUM WORD COUNT IS 200 WORDS

( THIS ONE IT HAS TO CHANGE AND MAKE IT MORE CLEAR AND ANSWER EXACLY WHAT THE QUESTION IS ASKING )

In the earlier assignment, sustainable fashion clothing online store was developed that works with upcycle materials that last longer and at an affordable price. Sales forecasting for 2020-2022 was conducted using the regression model. Regression decision models help in predicting sales that are expected to be made at the point in time. Historical data is used to come up with the regression model and using the independent variable, it easy to establish sales expected to be made future. This provides critical information on material resource planning. MRP will help to ensure raw materials are readily available to produce required units of the clothing for a predetermined period of time and to meet customer demand (Vonderembse & White, 2013). This helps to avoid the incidence of the stock out which might have a significant effect on the business.

In developing the decision model for the sales forecasting, it is necessary to take into consideration several factors to ensure the model has the lowest margin of error. This will help to ensure the actual sales do not vary much with forecasted sales using the model avoiding problem of lumpy demand (Vonderembse, & White, 2013). This primarily considers knowledge that is required in building a good decision model. This can be answered by analytically considering the criteria for selecting a good forecasting model.

There are 6 criteria for building good decision model that would have knowledge about them. First, accuracy of the model in giving correct forecast that can be used in decision making (Edupedia World, 2015). Second, simplicity in the use of the model and interpretation of the results. Third, consistency where the model should provide be useful over time without significant variability of predictions (Edupedia World, 2015). Fourth, plausibility which requires an understanding of the model and confidence in the model. Economy which looks at cost implication of the model and managerial effort demanded in by the model is another factor (Edupedia World, 2015). Finally, it is flexibility which requires the model to be able to adjust to changes.

Reference

Edupedia World. (2015). Introduction To Demand Forecasting. Retrieved from https://www.youtube.com/watch?v=IEDswC0xvd8

Vonderembse, M. A., & White, G. P. (2013). Operations management. Bridgepoint Education.

1. Describe how a continuous simulation model can benefit the business strategy decisions for your chosen business. Provide realistic examples (minimum 200 WORDS)

Continuous process simulation is analytical tool that is used in making prediction of the behavior of the real system which input and output variables or basically dependent and independent variables which are used in the model are continuous variables (Williams, 1997). In other words, variables changes in respect to time. On other hand, process simulation is analytical tool that is used in making prediction about the behavior of the actual system where integers or binary variables are utilized in simulation (Williams, 1997).

In my sustainable clothing business, both continuous process simulation and process simulation can be used depending on the type of the prediction that is desired to be made. This is critically important because it ensures that production and operation of the business is not interrupted when simulation is conducted to determine adjustments that can be made in any given process or segment of the interest. In my business, continuous process modelling can be used in product development and coming up with the new design. This is because in fashion clothing business, customers are attracted by the new designs and therefore it has to a continuous process to keep customers and determine the design that customers would like as time continuous.

Finally, process simulation can be utilized in CloSustain business in making prediction of the expected customers that are expected to make the purchase. In other words, this a way of making computation of the expected customer demand. This helps in estimating the desired inventory level and production capacity of the CloSustain to keep inventory level at minimum level.

Reference

Williams, E. J. (1997, July). Discrete-Event Process Simulation for the Continuous Simulation Model Builder. In Summer Computer Simulation Conference (Pp. 362-370). Society For Computer Simulation, Etc.

The total word count for this paper is 1750 words which is approximately 5 pages, double spaced, Times New Roman 12 pt. The cover page and the reference page is extra, so your paper should be a total of 7 pages minimum.