Will Bury Business Proposal
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Final Business Proposal-Will Bury
L Lewis
ECO/561
November 7, 2011
Instructor Joe Krupka
Final Business Proposal-Will Bury
Through the current economic condition, remaining competitive and growing profit is essential to sustaining a vital business. Mr. Will Bury has developed proprietary technology that will allow him to convert printed text into a digital format for reading, or audio for listening. Since Mr. Bury holds the patent on his digital and audio converting technology, his company fits the criteria of a monopoly. In addition, he is not clear on how to market or price his product, (University of Phoenix, 2003). This proposal will endeavor to provide essential ideas for improving revenue, attaining ideal production levels, regulating fixed and variable costs to maximize profit, and finding methods to lower costs. This proposal will address several key economic concepts, and benefits of a strategic plan. This proposal will incorporate suggestions proposed by instructors and peers (no changing indicated).
Current Fixed and variable cost:
Currently, Mr. Bury has fixed costs that include a portion of his mortgage and utilities, (his business operation is out of his home). His variable costs include royalty fees for copyrights of book titles, his time, and any resources he uses to transform the text to place them in a digital and audio format. In order for Mr. Bury to maintain his lead he must constantly improve the technology of his product. Furthermore, Mr. Bury will need to employ additional employees to run the transformation process for his product. They will also assist in seeking, and safeguarding the company’s copyrighted information and resources suitable for conversion.
While this will increase his variable costs, it will also allow Mr. Bury to increase production, thereby increasing revenue. In retrospect, he will likely need to secure a factory to operate his business. The factory will contain space that will allow additional...
L Lewis
ECO/561
November 7, 2011
Instructor Joe Krupka
Final Business Proposal-Will Bury
Through the current economic condition, remaining competitive and growing profit is essential to sustaining a vital business. Mr. Will Bury has developed proprietary technology that will allow him to convert printed text into a digital format for reading, or audio for listening. Since Mr. Bury holds the patent on his digital and audio converting technology, his company fits the criteria of a monopoly. In addition, he is not clear on how to market or price his product, (University of Phoenix, 2003). This proposal will endeavor to provide essential ideas for improving revenue, attaining ideal production levels, regulating fixed and variable costs to maximize profit, and finding methods to lower costs. This proposal will address several key economic concepts, and benefits of a strategic plan. This proposal will incorporate suggestions proposed by instructors and peers (no changing indicated).
Current Fixed and variable cost:
Currently, Mr. Bury has fixed costs that include a portion of his mortgage and utilities, (his business operation is out of his home). His variable costs include royalty fees for copyrights of book titles, his time, and any resources he uses to transform the text to place them in a digital and audio format. In order for Mr. Bury to maintain his lead he must constantly improve the technology of his product. Furthermore, Mr. Bury will need to employ additional employees to run the transformation process for his product. They will also assist in seeking, and safeguarding the company’s copyrighted information and resources suitable for conversion.
While this will increase his variable costs, it will also allow Mr. Bury to increase production, thereby increasing revenue. In retrospect, he will likely need to secure a factory to operate his business. The factory will contain space that will allow additional...