Marcus is a selfemployed marketing consultant. He is good at helping his clients with their marketing challenges. However, he is not keeping up with billing his clients regularly or keeping track of his hours. He feels that the time he spends on these functions is taking him away from activities where he has more talent and ability. His small business needs to bill clients quickly to keep the business running. In this case, which of the following actions should Marcus take?
A) Concentrate on accounting instead of counselling clients
B) Invest in an ERP system like big corporations
C) Outsource the accounting function to another firm
D) Vertically integrate the accounting function into the business

Question

Marcus is a self­employed marketing consultant. He is good at helping his clients with their marketing challenges. However, he is not keeping up with billing his clients regularly or keeping track of his hours. He feels that the time he spends on these functions is taking him away from activities where he has more talent and ability. His small business needs to bill clients quickly to keep the business running. In this case, which of the following actions should Marcus take?
A) Concentrate on accounting instead of counselling clients
B) Invest in an ERP system like big corporations
C) Outsource the accounting function to another firm
D) Vertically integrate the accounting function into the business

Quizplus · Accepted Answer

Marcus's expertise lies in marketing, not accounting or bookkeeping. Therefore it would be best for him to outsource the accounting function to another firm so that he can focus on his marketing services. This will ensure that his clients are billed regularly, and he can devote more time to activities where he has more talent and ability. Investing in an ERP system or vertically integrating the accounting function may not be cost-effective for his small business. Additionally, outsourcing will give him access to professional expertise that he may not have in-house, and will also fulfill his immediate needs.

Marcus Is a Self­employed Marketing Consultant

Marcus Is a Selfemployed Marketing Consultant