...The financial service terms form is part of your Financial Service Agreement with The Toronto-Dominion Bank and its affiliates. The financial service terms document helps explain what the services are provided by the bank with detailing the use and important information about their accounts. When a person signs the financial service agreement any existing agreement between the bank and the person who signs the agreement, for any particular product or service is replaced by this new agreement. There are few exceptions in which replacements of the existing agreement are not replaced. These exceptions are “any provisions whereby you have indicated who may deal with your joint account or whether your joint account has a right of survivorship remain valid until replaced with a new joint ownership record; and all provisions dealing with the specific terms of a particular product or service, including term, interest rate, amount of investment or any other terms particular to the product or service provided to you by us, to the extent that such provisions are not contained in the Agreement, remain valid until expiry or renewal.” It is not necessary that all the services mentioned in the contract will be used by the signatory. Person can request for new services later on, and if the bank introduces any new services then the signatory will be informed. There are seven parts of the Financial Service Terms, in which it is clearly stated what the services in your agreement are. The first...
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...and investment rates.4 During times when economic activity weakens, monetary policy can push its interest rate target (adjusted for inflation) temporarily below the economy's natural rate, which lowers the real cost of borrowing. This is sometimes known as "leaning against the wind." 5 To most economists, the primary benefit of low interest rates is its simulative effect on economic activity. By reducing interest rates, the Fed can help spur business spending on capital goods—which also helps the economy's long-term performance—and can help spur household expenditures on homes or consumer durables like automobiles.6 For example, home sales are generally higher when mortgage rates are 5 percent than if they are 10 percent. A second benefit of low interest rates is improving bank balance sheets and banks' capacity to lend. During the financial crisis, many banks, particularly some of the largest banks, were found to be undercapitalized, which limited their ability to make loans during the initial stages of the recovery. By keeping short-term interest rates low, the Fed helps recapitalize the banking system by helping to raise the industry's net interest margin (NIM), which boosts its retained earnings and, thus, its capital.7 Between the fourth quarter of 2008, when the FOMC reduced its federal funds target rate to virtually zero, and the first quarter of 2010, the NIM increased by 21 percent,...
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...Strategic Alliance is when two or more independent companies come to terms of agreement on what the other company can gain by converging there assets. The converging of these parties within the agreed terms based on service level agreements, form a business strategic alliance. Service Level Agreements (SLAs) and a given set of objectives define the terms of the alliance from each party. The author states that the terms are typically based on operation performance metrics to measure the terms of the success of the strategic alliance. 2) What percent of corporate Alliances are successful measured by the Cost of Capital. What are the reasons for such results? The intention and meaning behind a Strategic Alliance is for both companies to be more successful as partners in a joint venture more then they would have separately. The author of the article states that corporate alliances are a 50/50 chance of success and goes on through some reasons behind the lack of success for one or both parties. Much of the failure of one party or another is due to the traditional organization and management. The operational performance metrics, from the Service Level Agreements that form the terms in which the alliances are joined, are dated in nature because of the focus on meeting the metrics versus looking the overall strategy and vision. The lack of focus on the vision by company’s leaders causes them to manage their business individually and downwardly. Stemming through to middle management...
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...Forbes.com: How LinkedIn Has Turned Your Resume Into A Cash Machine Table of Contents | | | |Page Number | | | | |Terms of Reference |2 | | | | | | |Introduction |3 | | | | | | |Section 1: | | | | |Creating Mission, Vision and Values |4 | | | | | | |Section 2: | | | | |Implementing Mission, Vision and Values ...
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...Study Report ¹ SUBMITTED TO PROF. NEIL COHEN School of Business and Public Management The George Washington University BY Anil Kumar Cheerla FINA 6224 FINANCIAL MANAGEMENT WASHINGTON, DC January 26, 2011 Q1: Consider which comparable peers are good matches and use them to perform a multiples analysis, calculating and defending an estimate of Crocs value. Soln: Comparable companies analysis – Done to determine appropriate valuation multiple for Crocs, Inc. • • Selected peer group based on industry, business and financial characteristics Included explosive growth stocks such as Lulelemon & Under Armour having similar prospects for growth and ROIC as Crocs, Inc. and some mature, stabilized businesses with stable industry growth rates – Nike, Deckers & Timberland. This mix will help us provide valuation from an aggressive sales growth and maturing sales context. Some characteristics used in selection include – o Primary or at least significant portion of business revenue comes from footwear & apparel – analogous to Crocs primary business o Has product appeal to large group of customers o Has distinct product attributes (innovative/creative) and differentiation from competition o Has wide range of distribution channels o CAGR Sales growth, COGS to Sales & Significantly less debt exposure on their balance sheets o Have characteristics of high octane growth and show signs of maturity and stabilizing long-term growth similar to well established footwear brands. • ...
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...Indicators (both cover and leading) are fragmented into 4 areas of focus: Financial, Customers, Operational and People. These indicators are checked on a regular basis and prearranged as a Scorecard for determining current company status. Strategic management is a continuous process that evaluates the business and industries in which the organization is involved, appraises its competitors, and fixes goals to meet all the present and future...
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...of Corporate Information Technology from the time of his arrival at Alcan: his observations on the current state of IT management, his appointment to the position of Chief Information Officer and the development of his new strategic plan for IT management. Part A presents the main features and challenges of IT management at Alcan up until the middle of 2006.. Students are encouraged to reflect on the characteristics, implications and challenges represented by IT management in a large global organization. To which quadrant It belongs to In order to identify the class in which Alcan belongs to, we need to understand the specific business characteristics Rate of change in Alcan: Alcan belongs to the aluminium industry which involves mining and manufacturing: 1. Typically this kind of an industry is a stagnant and slow moving in terms of technological adoption and new process introductions 2. It depends on macro economic scenarios and industry performance is effected directly with the international pricing fluctuations 3. Slow rate of growth 4. Customer needs and preferences are not shifted rapidly 5. Dependent on government regulations 6. Competitive landscape is international – Internally Alcan is the market leader and it provides at cheaper rates compared to other international competitors due to its lesser COGS and operational expenses 7. As it is vertically integrated and there is no problem with the supply of raw materials ...
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...Robert S. Kaplan David P. Norton O S T everal years ago, we introduced the concept of a “Balanced Scorecard” for motivating and measuring business unit performance.1 The Scorecard, with four perspectives—financial, customer, internal business processes, and learning and growth—provided a balanced picture of current operating performance as well as the drivers of future performance (see Exhibit 1). Can Business Operate with a Balanced Scorecard? CO Some argue that managers cannot operate with multiple measurements of business-unit performance. While they recognize that aggregate financial measures (such as operating income, return on investment, and economic value added) are not perfect by themselves, they claim that financial measures at least are well understood and provide clear, unambiguous, and objective goals on which all organizational participants can focus. Such people feel that multiple measures—some financial and some non-financial—are confusing and lead to ambiguous, often conflicting, signals about what the organization values. PY We disagree. Imagine entering the cockpit of a jet airplane and observing that there is only a single instrument. How would you feel about flying on that plane after the following discussion with the pilot: Reprinted by permission of Harvard Business School Press. Adapted from The Balanced Scorecard by Robert S. Kaplan and David P. Norton. Copyright ©1996 by the President and Fellows of Harvard College;...
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...ENGINEERING ADVANTAGE Developing growth strategies to become a market leader S T R AT E G Y Introduction A business will not become the market leader by chance. It takes careful planning to build an organisation that outperforms its competitors. In business, these plans are called strategies. A business strategy can take many forms. For IMI, a leading engineering business, its strategies focus on growing the business within the niche markets in which it operates. A niche market is a relatively small and often highly specialised segment of a market. IMI is a global engineering business focused on the precise control and movement of fluids in critical applications. IMI has five platform businesses which use its expertise in valve and fluid engineering in different markets: • Fluid Power – specialists in motion and fluid control technologies, custom engineered for critical applications requiring precision, speed and reliability. • Severe Service – highly engineered valves and controls that enable vital industrial and energy production processes to operate safely, cleanly and more efficiently. • Indoor Climate – experts in hydronic distribution systems and room temperature control which deliver energy efficient indoor climate systems. • Beverage Dispense – specialists in innovative beverage cooling and dispense solutions that contribute to increased sales and lower operating costs. • Merchandising – specialists in bespoke point of sale merchandising solutions which improve...
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...Chadwick, Inc. needs to focus its business strategy by first addressing the following questions: How do customers see us? What must we excel at? Can we continue to improve and create value? How do we look to shareholders? The Balanced Scorecard is a set of measures that gives top management a fast but comprehensive view of the business. It details both financial and operational measures by focusing on four parameters: Innovation and Learning Perspective, Internal Business Perspective, Customer Perspective, and Financial Perspective. By adopting the Balanced Scorecard, Chadwick, Inc. will create a report that includes financial measures of results already taken together with operational measures that are the drivers of future financial performance. Innovation and Learning Perspective Chadwick will fulfill its company value through its ability to introduce its new products, improve operating efficiencies to generate its revenue. Well-trained employees brings value to a company, and a good training program can improve the employees’ performance. The best measurement of training is return on investment (ROI). Chadwick, Inc.'s goal is to create an increase of new drug innovation; measured by comparing after-training results to previous pre-training results, setting a benchmark at 5%. The Research and Development department (R&D) plays a important role by getting feedback from the market, customers, and specialists. It will use the feedback to create future products to...
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...Supply Management Outsourcing Purchasing is common to all organizations with any kind of supply function. It is one of the basic processes of supply management. As time has gone by, the term ‘purchasing’ has taken on a broader definition. As companies become more independent, more competitive, and start growing towards the future in technology, specifically e-commerce, purchasing becomes a strategy. Purchasing became “strategic sourcing.” Strategic sourcing has become a huge responsibility for the supply manager. There are a few activities that strategic sourcing accomplishes for the manager. It allows the manager to strategize the spending habits of the company, it forces the manager to strategically look in to the supply market for any changes, trends, and what other firms are offering, and it provides a method to develop a sourcing strategy that fits the company’s strategy to lower costs and risk, while bringing in a profit. Profit is produced through mastering or at least competently managing the five M’s; machines, manpower, materials, money, and management. Part of that strategy is where and how to source these 5 M’s that will meet the cost strategy of the company. This brings up the most strategic question a firm can ask of a supply manager; to make or buy? To meet the company’s needs that will consequently meet the current demand, should the company in-source or outsource? What should the company outsource? What are the functional areas of supply management...
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...turnover and cash flow, and other indicators. Analyzing the financial information of LV, the project has a more accurate characteristics inherent objectivity, which can be quantified that during these years LV is great in revenue, sales growth rate, and the cash flow. LV can benefit a lot from the financial aspect. (B) Customer Connection Balanced Scorecard in the measurement of the customer aimed at providing enterprises with a long-term profitability of the customer base. In LV, customer connection is very important, and LV has done a lot of efforts in building a close and friendly connection with their customers for measuring customer satisfaction, customer retention, new customer acquisition, customer profitability and in the target market share and so on. The customers are limited, so LV can still do lots of efforts to communicate with them and get more information about their interests and hobbies to enhance the connection between brand and customers. (C) Internal Business Processes Balanced Scorecard in the internal business processes is the emphasis on customer satisfaction and their financial goals of those internal...
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...SOLUTIONS Multiple Choice Questions: 1. Which of the following statements about finance, accounting, and financial management is most correct? a. Accounting is of no value in decision making. b. Accounting provides the theory and concepts necessary to help managers make better decisions. c. Financial management involves the measurement, in financial terms, of operational events that affect the resources and financing of an organization. d. The primary role of finance is to plan for, acquire, and use resources to maximize the efficiency and value of the enterprise. e. Financial management is of no value in decision making. 2. Which of the following statements about the role of finance in healthcare organizations is incorrect? a. Over time, the finance function has become increasingly focused on strategic issues, such as joint venture decisions. b. Today, the most critical finance function is cost identification. c. The finance function often supports cost containment efforts and third-party payer contract negotiations. d. The primary activities of the finance function can be summarized by the four Cs: costs, cash, capital, and control. e. In times of high profitability and abundant financial resources, the finance function tends to decline in importance. 3. Which of the following is not a hypothesized benefit of integrated delivery systems? a. Information systems that track all aspects of patient care can be developed more easily. b. Integrated...
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...the scorecard. The scorecard can provide top management with a fast but comprehensive view of the organizational unit. THE CUSTOMER PERSPECTIVE Philips set operating efficiency as its strategic theme. To get more customers to buy the Philip’s products by attract customers with new products, make a promotion every festival time and give free gift for who are buying the Philip’s products. The customer and market segments should be identify by the customer perspective in which the business unit will compete. The revenue element for the financial perspective objectives is make by the customer perspective. So, the achievement of customer objectives should ensure that target revenues will be generated. Five typical core or generic objectives are increasing market share, increasing customer retention, increasing customer acquisition, increasing customer satisfaction and increasing customer profitability. These objectives measures the percentage market share, percentage growth of business...
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...customer-focused. Yet in times like these, when budgets are tight, some of the first expenditures to be cut are for marketing and IT, both of which are supposed to help companies better understand and serve customers. Professors Elizabeth Demers of the University of Rochester and Baruch Lev of New York University confirmed these conclusions in a study last year. They found that while investors implicitly capitalize product-development and R&D expenditures, considering them assets that are potentially useful over a long period of time, they expense marketing and customer-acquisition costs. This apparent contradiction stems too often from the fact that business strategies in general and marketing in particular don't look at their customers in terms of quantifiable value, so they don't develop metrics to measure the return on investment in terms of the value of their customers. It's still typical for most companies to organize marketing plans around the 4Ps: product, price, promotion, and place--the traditional view espoused in most marketing textbooks. In addition to leaving out the customer, this focus makes it difficult to measure ROI for marketing activities, and therefore makes getting funding for them difficult. The measurements that do exist tend to be "soft" metrics --say, an average customer-satisfaction rating that moves from 4.1 to 4.5 on a scale of 1 to 5, where 1 is not at all satisfied and 5 is totally satisfied. That's a nice jump, but it's hard to convince senior management...
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