For this marketing course I'm taking we need to do a group project marketing a new product via a marketing and business plan. My areas in the project are the detailed financial projections and the powerpoint presentation. So, I have no idea what these financial projections are to entail, so I do some research on the topic and find that much of it has to do with my old buddies the financial statements: the balance sheet, income sheet and cash flows sheet. I get them all figured out on spreadsheets with functions built in and everything, using the general financial data that was provided to me by another group member. I show them to the rest of the group who don't like some of the figures and wonder why I need such complex spreadsheets for this project. The answer "i researched it, since it wasn't in the book or any of the other class materials, and well, this is what I came up for as us needing," does not phase them one bit.
So the ladies take my data and whine about the figures to which I say "I was working within the parameters that were set forth to me, and this was the best I could do under those parameters. We can change the basic figures if you want and have something better to work with." This also was unacceptable to them, so they said that we should start with my projections and work forward from there. Fine with me.
I pull up the spreadsheets and say "all you have to do is tell me what you want to spend on each expense and how many products we should sell and it will all fall together fast." They are unhappy with this answer, but humor me, halfheartedly. First, they won't touch the idea of how much product we will sell, they want to cover expenses. I protest but give in knowing that it will all come together in the end. So I go down the list of expenses "how much will we spend on advertising, how much on delivery expenses, etc etc etc." after about 6 they throw a fit saying this is all unnecessary and overly complex. I tell them no, it's as easy as it gets, all we do is input the data and the spreadsheet tallies everything for us. FInally, after 20 minutes of arguing how complex this whole spreadsheet thing is and being told by every group member that they don't know what a balance sheet, income sheet and cash flows sheet is and how to read them. I tell them just to tell me how much money they want for each thing and it will all work out. Instead, two of them (who prfessed the most strongly their ignorance on the financial statements) take printed copies of the original spreadsheets and a couple ancient calculators and inform me that they are going to figure everything about them on their own by hand because it will be quicker and easier.
An hour goes by.
Two.
Three and a half.
They spend all they're time on the income statements the proudly proclaim that they have projections that give us profit within five years. Wonderful. Did you keep in mind that the income statement makes no allowance for you corporate taxes? NO. So did you really make any profit? NO. finally, are they listening to me? of course not. The other half to the financial projections, which I have no part in anymore? we aren't doing them. "They're too complicated"
And what, you ask, is the crowning moment of all this? I looked through my contacts list on my PDA at everyone I knew, and there is no one who will listen to me complain about this.
I hate my life.
Topic: I am so PISSED! (Read 1676 times)