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Respond to discussion board # 1 (SB)

I am a firm believer in a company acquiring its costs for the manufacturing of a product. However, there are times that some of these companies take advantage of us as consumers. There are regulations that are set in place to protect us from some of these issues, but I feel as if they do not look out for our best interests at all times. I will use the example of vehicle manufacturers. As everyone knows very well, the last couple of years have been crazy for everyone due to COVID and the shortage of computer chips for vehicles after a factory that manufactured them burned down. Because of this unfortunate event, there has been a shortage of vehicles, and manufacturers have taken advantage of this by raising the cost of these same vehicles to sometimes near double their price prior to the chip shortage. Another example I can use is that of fuel. It seems as if every time there is a winter storm or a hurricane in the Gulf, as well as any issue that occurs overseas, the cost of oil goes up, which in turn causes the cost of fuel to go up. I believe there should be stricter regulations that prevent situations such as these or any price-gauging that occurs for any type of product.

Discussion board # 1

Do you think only top managers (CEO, President, etc.) should prepare the company budget, or do you think all employees should have a say in the company budget? Why?

Respond to discussion board # 2 (SB)

When it comes to preparing the budget for a business, my belief is that there should be a team or committee of employees that work together to develop the budget. My thoughts are that the CEO, President, Vice President, and Finance Director, ranging down to the supervisor in charge of projects, By including all these individuals, I believe that the company will be able to get input from all aspects of the business that could be valuable to the final decision on the budget. By including the managers and supervisor in charge of the project, the team can acquire essential information as to where every dollar spent on a project goes.

Discussion board # 2

The opening case in Chapter 12, "Big Data and the Internet of Things Drive Precision Agriculture," demonstrates how the effective use of data analytics can help employees and managers at all levels, in many different industries, make better decisions. Using Purdue's University College of Agriculture as an example, discuss how you think this technology could help U. S. farmers. For example, how can this technology help farmers in your area or state who use underground aquifers to water their crops more efficiently?

Respond to post # 3 (BE)

The ability for farmers to have more access to the ins and outs of their business through technology would be a great asset to them being able to best determine how to be more productive and profitable. Farmers can use this technology in to help analyze different portions of their previous year's crops and help make decisions on what would grow best and what would not which could allow them to farm a greater yield then before. Farmers are able to record data into the system and then the analysis helps to determine these decisions of what would work best for the farmer in the area in which they are growing the product. This could really be a game changer for struggling farmers who have years where some of their crops are just not growing to the level at which they need them to be. Having this historical data is imperative to make the best decisions and this technology could be great in improving the efficiency of the farming business overall.