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Accounts - Spending Pattern

Essay by   •  July 7, 2011  •  Essay  •  482 Words (2 Pages)  •  883 Views

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The existing customers may also be re-assessing their spending pattern. The recession will affect the Mill as they are paying workers too much and the increase in electricity and gas can put them out of the business as this means monthly bills the short and long term of the business. The products/services, technology and training has not been used affectionately. Lack of competition allows a company to set prices relatively high, to the point that people decide they will go without the product or service. Firstly, the company gave employees too many benefits, especially wages. This could not only increase the cost of product, but also decrease company's profit. According to Gaebler Ventures (2010), it claimed that labour cost is one of the highest expenditures of company, particularly new businesses. The financial strength of the business will not go a long way as the funds they do not have enough funds to compete with will make the company pay the workers less income. The business may cut employees, and more work will have to be done by fewer people. This will mean that the less stuff they have the more work on the employees and they will suffer as hours become longer, work becomes harder, wage increases are stopped and fear of further layoffs persists. (Clark 2007).The environment of the Mill keeps changing as it is being affected by many factors such as socio-economic status. The mill has not planned what they want to achieve in other companies surrounding them. (Gopal 2009). The rise in prices makes customers less interested in giving the Mill business. The existing customers may also be re-assessing their spending pattern. The recession will affect the Mill as they are paying workers too much and the increase in electricity and gas can put them out of the business as this means monthly bills the short and long term of the business. The products/services, technology and training has not been used affectionately. Lack of competition allows a company to set prices relatively high, to the point that people decide they will go without the product or service. Firstly, the company gave employees too many benefits, especially wages. This could not only increase the cost of product, but also decrease company's profit. According to Gaebler Ventures (2010), it claimed that labour cost is one of the highest expenditures of company, particularly new businesses. The financial strength of the business will not go a long way as the funds they do not have enough funds to compete with will make the company pay the workers less income. The business may cut employees, and more work will have to be done by fewer people. This will mean that the less stuff they have the more work on the employees and they will suffer as hours become longer, work becomes harder, wage increases are stopped and fear of further layoffs persists. (Clark 2007).

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