In week 5 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 minimum).
2. You decide to engage in price discrimination. Decide which type of price discrimination would work best for your product/service. Be specific and consider the real applicability of your choice. Explain in detail! (300 words minimum).
3. Select one item from your business and calculate the Economic Order Quantity. When determining the numbers for the variables needed to perform the calculation, be realistic. Research what the actual numbers could be and provide and explanation/rationale for choosing the numbers. (150 words minimum). Perform the calculation and explain what the result means to your business.
4. Once your chosen business is more established, you decide to get involved in a joint venture with a foreign firm. The contract for the joint venture gives you the right to buy the project in three years. You worry that the foreign firm has been bribing government officials to obtain an economic advantage over other companies. Do you have any reason to be concerned about the possible bribery if you purchase the venture in three years? Why or why not? Provide an overview of the country’s (your choice) business practices and the consequences of engaging in questionable business practices. (300 words minimum).
5. What are the consequences for businesses in the United States that engage in false advertising? Which agencies provide oversight? How can you avoid false advertising for your chosen business? What would be the economic impact on your business if you were caught engaging in false advertising? (300 words minimum).
6. Why would you be interested in protecting your chosen business from being copied by others’? Would you want to patent your idea or would you keep it a trade secret? Explain your choice in detail! (250 words minimum)
The total word count for this paper is 1450 words which is approximately 4.5 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 6.5 pages minimum.