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Summary BUS687 WK2 Journal.docx Week Two Journal BUS 687: MBA Capstone Week Two Journal This week, we dove into making decisions for Hisco's first quarter budget plan and complete a quarterly business review (QBR). This week's objectives posed many ch$4.99
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Summary BUS687 WK2 Journal.docx Week Two Journal BUS 687: MBA Capstone Week Two Journal This week, we dove into making decisions for Hisco's first quarter budget plan and complete a quarterly business review (QBR). This week's objectives posed many ch
BUS687 WK2 J Week Two Journal BUS 687: MBA Capstone Week Two Journal This week, we dove into making decisions for Hisco's first quarter budget plan and complete a quarterly business review (QBR). This week's objectives posed many challenges. However, through the use of the required and recomm...
bus687 wk2 journaldocx week two journal bus 687 mba capstone week two journal this week
we dove into making decisions for hiscos first quarter budget plan and complete a quarterly business
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Week Two Journal
BUS 687: MBA Capstone
Week Two Journal
This week, we dove into making decisions for Hisco's first quarter budget plan and
complete a quarterly business review (QBR). This week's objectives posed many challenges.
However, through the use of the required and recommended materials and the class zoom
, 2
meeting, I understood better the many aspects that go into making decisions and the effects they
may have on the company's overall plan strategy. I also had to conduct a QBR on quarter one.
The QBR is a qualitative and quantitative review of the plan's outcomes. Analyzing and
digesting the plan's outcomes properly and using the data to conduct the QBR posed a challenge
at first efficiently. Gratefully, the class zoom meeting helped me understand what each of the
charts, graphs, data, and information meant. Overall, there was a lot to learn this week, and I
think I finally have a good grasp of the course learning objectives' concepts.
Learnings
This week's learning objectiveswere to make decisions and complete a budget plan for
quarter one. One of the most important things I learned through this week's objectives is ensuring
you have the materials, labor, and production lines needed to produce the number of products
you are requesting. Before, I did not see the relationship between those three factors, but the
professor and my classmates helped me grasp a better understanding during the class zoom.
Biery's (2013) article,"What are Your Financial Statements Telling You?" aided in my
understanding of reading the financial statements correctly. With this knowledge, I was able to
see and understand what decisions I made in my plan affect the company positively or negatively
when about its financial health.
Biery (2013) stated that many businesses could have a lot more cash if they paid more
attention to the balance sheet's account receivables. The account receivables is money owed to
the company by its consumers, and the longer they go unpaid, the more cash that is tied up. After
realizing this, I took a look at the term days and average collection days for my quarter one
budget plan. The term days were set to 60, and the average collection period was set to 64. I soon
realized that these days caused the company to be sitting on money for more than half of the
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