Which financial concepts are covered in Phase 3?

Budget management and cost analysis are foundational elements in financial training, particularly in a business context like Jersey Mike's. These concepts help individuals understand how to allocate resources effectively, monitor expenses, and ensure that the financial health of the business is maintained. Budget management involves creating a plan for spending based on expected revenues, while cost analysis focuses on evaluating the costs of various aspects of operations, helping in strategizing for efficiency and profitability.

The other concepts are also significant but may not align with the specific focus of Phase 3. For instance, profit sharing and employee bonuses relate more to employee compensation and motivation rather than direct financial management. Brand development and advertising costs pertain to marketing strategies, which are essential but distinct from the financial management aspects covered in Phase 3. Similarly, market positioning and sales forecasting focus on pricing and market strategies, rather than the core financial principles of budget management and cost analysis needed for overall business operations.