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Ongko Furniture Store Concepts Essay

822 words - 4 pages

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Ongko’s Furniture Store Concepts
Lynda C. Mitchell
FIN/GM571
Dr. Doug Gilbert
16th August 2010

In the field of finance, there are concepts, principles and laws that guide corporations, and assist with understanding routine financial practices and situations that is multifaceted. After reading the Ongko”s Furniture scenario, there are many finance concepts and principles involved. This paper will detail those concepts showing how they relate to Ongko’s Furniture.
Briefly, Ongko’s Furniture is a one-owner operation in Bali Indonesia. This location provides Jaya Ongko (the owner) with the timber needed to craft his creations. With inexpensive labor and high quality furniture, Ongko supplies handcrafted premium furniture to the surrounding countries in Southeast Asia, and more than 20 countries globally (Ongko’s Furniture Scenario, University of Phoenix, 2010). Ongko may have missed some golden opportunities to advance the company.
The first principle that applies to Ongko’s Furniture is the principle of self-interested behavior. According to Emery, Finnerty, and...

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