Corporate Irresponsibility

Enron created offshore entities, units which were used to avoid taxes which raised profits for the business. This provided ownership and management with full freedom of currency movements that would keep losses off the balance sheets. These entities made Enron look more profitable than it actually was, and created a dangerous spiral in which each quarter, corporate officers would have to work twice as hard to keep up with the deception they created in the stock market . Enron created the illusion of billions in profits while the company was actually losing money. This practice drove up their stock price to new levels, at which point the executives began to work on insider information and traded millions of dollars worth of Enron stock. The executives and insiders at Enron knew about the offshore accounts that were hiding losses for the company; however, the investors knew nothing of this. Chief Financial Officer Andrew Fastow led the team which created the off-books and manipulated the deals to provide himself, his family, and his friends with hundreds of millions of dollars in guaranteed revenue, at the expense of the corporation he worked for and its stockholders.

Week 4 The Marketing Environment

Located at 4712 Broadway ave in Manhattan, VRaceWorks caters to a vast and diverse population of customers. Since we're in the Automotive Industry our marketing rays tend to grasp the attention of many different age groups starting from about 17 and older. Curiosity for cars starts developing at about 13 years of age (for males at least), therefore giving a feeling of anticipation so by the time you get your permit the ball of interest can start rolling. Modifying cars has always been a worldwide center of interest. The reason VRaceWorks gets such a strong international population is because we sell our parts with expertise and style.  We provide services for all races and ethnicities from all over the world, including North and South America and across seas into Europe and the Middle East; With every age and location comes a special interest in a certain make of a vehicle, whether it be a 18 year old teenager in New York City that owns a Honda or a 33 year old man in New Jersey that owns a BMW, We meet the needs of each and every individual that inquires about the products we sell.

Origin of Clothes worn in class (Wednesday September 22, 2010)

Tank Top - Polo Ralph Lauren  Made in India
Boxer Briefs - Polo Ralph Lauren Made in China
Socks - Polo Ralph Lauren Made in Korea

Tee Shirt - Password Jdm Made in Japan 

Jeans - Diesel Industry Made in Italy 

Sneakers - Nike Made in China
Casio - Lego Edition G Shock Made in Thailand

Week 3 Ethics

         We accept Visa, Mastercard, American Express, and Paypal as form of payment. New York Sales tax is charged on all items purchased.Our Return Policy is strict; All returns must be accompanied by an invoice. All merchandise must be returned in original packaging and in resalable condition. Refunds are not given on electrical items. A restocking fee of 25% of the item's original cost is charged on non-defective items that have been previously ordered and refused. Shipping charges are non-refundable. Order changes are only accepted if the item has not been processed and shipped. In the event a product is listed incorrectly due to typographical errors or an error in pricing, VRaceWorks has the right to refuse or cancel any orders placed on a product listed at an incorrect price. Upon cancellation VRaceWorks shall issue cash or credit to the credit card used for the transaction in the amount of the charge. Our Order Acceptance Policy is as follows; VRaceWorks reserves the right at any time after receipt of your order to accept or decline your order for any reason. All orders placed over $2000 dollars must obtain pre-approval with an acceptable method of payment, as established by our credit and fraud avoidance department. We may also require additional verifications or information before accepting any orders. Customers information including any email addresses received by VRaceWorks will only be used in connection with your order, and will not be forwarded to other entities. Periodically, We may wish to communicate with customers via email on new products and specials.
         Our Security methods are superior whether you're placing an order by phone or internet, security is our main priority. All on-line transactions are sent through our secure server and encrypted with 128-bit technology. Once information is received through the internet or by phone, trusted authorized employees will process your payment, and make certain that your information is handled with the highest level of security.

Week 2 Strategic Planning

Our Strategy is to grasp the minds of individuals that understand the sport for what it is and if they don't help our customers develop a sense of direction as far as automobile tuning is concerned. We have track lights, grids, and showcases in the store to provide great visual sighting.  We promote all of the products we sale with images and back round information online (www.b20vtec.com). We are very social with our community and very often set up events of union we like to call meets. In the meets we set up and attend we're able to have very elaborate conversations with all the people attending, usually previous customers and new comers. Each and every product we sale are extraordinary in quality, that being said the products sale themselves. We understand that the economy isn't at its best which is why we offer the best prices all around. Our store is very comfy and colorful which attracts alot of attention from people walking by to people driving. Even if your not interested in cars you'll want to have a look inside. We are open 363 days a year from 10am-8pm which makes very unique in schedule compared to many stores that close at 6pm and close on Sundays. We are very flexible and convenient to get to. Our future plans are to expand and provide the same great service thru out the New York City and hopefully the United States.  

Week 1 History and Mission statement

Started By Robert and Jismark V. in 2008, V Race Works hit the automotive scene with such intensity of power, kind of like when we learned how to manipulate electricity into light bulbs and other appliances. One thing lead to another and the stores foundation quickly emerged to greatness. V Race Works started at 4 Henshaw Place in Manhattan where the business was ran off of lower control arms, Suspension, Polyurethane lips, Rims, Tow Hooks, and Hid Lighting. The Business quickly evolved into a lifestyle, Where you had many of the younger crowd of individuals sticking the heads inside to see what exactly the store had to offer. Our Mission since day one has been to fulfill the needs of every and any customer that walks thru our doors. We are dedicated to acquire any automotive part that is asked of us. We are Automotive Enthusiast who offer large array of services such as acquiring turbo chargers and installing it with all necessary tunes for your set up to work properly under stress. We specialize in hardcore performance parts such as turbo chargers, super chargers, inter coolers, nitrous kits,cam shafts, crank shafts, pistons, rods, bearings, oil, spark plugs, etc. We also specialize in appearance and cosmetics.