...Chapter 1 Managerial Accounting and the Business Environment Solutions to Questions 1-1 Managerial accounting is concerned with providing information to managers for use within the organization. Financial accounting is concerned with providing information to stockholders, creditors, and others outside of the organization. 1-2 Essentially, managers carry out three major activities in an organization: planning, directing and motivating, and controlling. All three activities involve decision making. 1-3 The Planning and Control Cycle involves formulating plans, implementing plans, measuring performance, and evaluating differences between planned and actual performance. 1-4 A line position is directly related to the achievement of the basic objectives of the organization. A staff position is not directly related to the achievement of those objectives; rather, it is supportive, providing services and assistance to other parts of the organization. 1-5 In contrast to financial accounting, managerial accounting: (1) focuses on the needs of the manager; (2) places more emphasis on the future; (3) emphasizes relevance and flexibility, rather than precision; (4) emphasizes the segments of an organization; (5) is not governed by GAAP; and (6) is not mandatory. 1-6 A number of benefits accrue from reduced setup time. First, reduced setup time allows a company to produce in smaller batches, which in turn reduces the level of inventories. Second, reduced setup time allows a company to spend...
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...Keys to building trust to employees Any positive working relationship is based on trust. An environment of trust assumes that both parties will be safe, and it carries with it an implicit message that you have each other’s best interests in mind. That is why employees can accept criticism and even anger from a boss they trust. The employees know deep down that the boss really means to help. Trust is an interesting quality because, once it is lost, it is hard to recapture. Many professional relationships gasped their last breath with the words “I just do not trust you anymore.” Therefore, to have optimum working relationships, all parties must feel a sense of trust. The question then is, how do you develop trust between people in the workplace? After all, when you have people from various backgrounds coming to work together, they usually don’t have a history with each other, and there’s no base of trust to begin with and grow upon. That is the reason managers need to be proactive and create an environment of trust apparent to all. This article includes ways to do that. Limit Lecturing To ensure that employees will make good decisions, managers often begin to lecture. If you reflect on this, you will soon realize that lecturing and telling your employees what to do implies that you do not have faith in their decision-making abilities. This can result in their becoming defensive. In addition, the employees can lose faith in their own confidence to make decisions. If people do...
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...strategy is a game plan that enables a company to attract customers by distinguishing itself from competitors. The focal point of a company’s strategy should be its target customers. 1-2 Customer value propositions fall into three broad categories—customer intimacy, operational excellence, and product leadership. A company with a customer intimacy strategy attempts to better understand and respond to its customers’ individual needs than its competitors. A company that adopts an operational excellence strategy attempts to deliver products faster, more conveniently, and at a lower price than its competitors. A company that has a product leadership strategy attempts to offer higher quality products than its competitors. 1-3 A person in a line position is directly involved in achieving the basic objectives of the organization. A person in a staff position provides services and assistance to other parts of the organization, but is not directly involved in achieving the basic objectives of the organization. 1-4 The Chief Financial Officer is responsible for providing timely and relevant data to support planning and control activities and for preparing financial statements for external users. 1-5 The three main categories of inventories in a manufacturing company are raw materials, work in process, and finished goods. 1-6 The five steps in the lean thinking model are: (1) identify value in specific products and services; (2) identify the business process that delivers value;...
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...carried, by his own admission, "a pen and a punch" as an inspector (wo years ago. Oh, the outward appearance hasn't changed much—tattoos and mirrored shades continue to be his trademarks. But the "Iron Maiden" T-shirt is now cleverly concealed beneath his sharply pressed shop coat provided by the company. He's a team leader now, qualified and sanctioned by his peers. He prefers to be called a team motivator, however. "I'm part of the team; I don't have a team. Let people maintain their own personality." —CM Today publication 41 workers. There is a pervading attitude that "if you give them an inch, they'll take a mile," because they don't really want to work. The idea, for example, that a worker in the plant would have the power to stop the line in order to eliminate a problem was heresy. Wouldn't such permission lead to widespread line-stoppage for every whim? Not, according to Toyota, if you instituted a system of worker responsibility and accountability. American companies might think they had a tight rein on employees, but with little responsibility resting directly in the workers' laps, there was also little accountability. And what were the workers being held responsible for? In the first instance, quality. In Japanese companies, quality was part of the process, not something added on in the inspection phase. American industry focused on "quality control." Generations of business-school graduates had learned that high quality equaled high cost. GM was not different...
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...Assessment The Purpose and Goals of the Diocese of Coventry Multi Academy Trust The Core Mission of the Diocese of Coventry Multi Academy Trust is to build a better future for all within our Academies who in turn will positively impact their communities. We are a self-governing non-profit charitable trust. Harris Church of England became a sponsored academy within this trust in 2014. Is a smaller than average secondary school. Entries have fallen since the school was placed in special measures by Ofsted in March 2013 but are now recovering in January 2014. Significant changes followed to senior leadership and governance. A new chaplain was appointed in 2016 as a shared arrangement with another diocesan school. Extra pupil premium funding is received for a third of entrants, which is above average. The proportion with special education needs is slightly below other schools. The commitment is that all Academies within the Diocese of Coventry Multi Academy Trust will be recognised for their distinctive and inclusive Christian ethos and for the impact that this has on raising educational standards. Each Academy will demonstrate its Christian distinctiveness by providing an inspirational and holistic education which enables all children and staff to develop and achieve to their full potential. We currently have 12 academies in our Trust. We will achieve our aims by ensuring that Academies within the Trust are: Transformational, Aspirational, Sustainable, Motivational, Purposeful ...
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...SDO Project (08/1501/94) Changing Management Cultures and Organisational Performance in the NHS (OC2) Research Report Produced for the National Institute for Health Research Service Delivery and Organisation programme April 2010 prepared by: Russell Mannion (University of Birmingham), Huw Davies (University of Dundee & St Andrews), Stephen Harrison (University of Manchester), Frederick Konteh (University of York), Ian Greener (University of Durham), Ruth McDonald (University of Nottingham), George Dowswell (University of Birmingham), Kieran Walshe (University of Manchester), Naomi Fulop (King’s College, London), Rhiannon Walters (King’s College, London), Rowena Jacobs (University of York), Paula Hyde (University of Manchester) Address for correspondence: Professor Russell Mannion Health Services Management Centre University of Birmingham Park House 40 Edgbaston Park Road Birmingham B15 2RT Queen’s Printer and Controller of HMSO 2010 1 SDO Project (08/1501/94) Contents Acknowledgements ....................................................8 1 Introduction .......................................................9 1.1 Aims and objectives of the study ..................................... 9 1.2 Research design and project overview .............................10 1.3 Structure of the report ..................................................11 2 Policy and Organisational Culture in the NHS: An Overview ..........................................................
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...Citation; Kotter, J. (2011). What Leaders Really Do.? Harvard Business Review Press pp. 37-55. Annotation Kotter contends that leadership and management skills are essential. The author points out when any one of these skills is neglected or performed improperly the organization can suffer. Kotter asserts that most American corporations are over-managed and poorly led. He argues that management tries to establish security and order, whereas leadership has the goal of promoting change and fluidity within organizations. As Kotter saw it in Management and Leadership Behavior, during planning and budgeting manager establishes agendas, sets timetables and allocates resources. Manager focuses on control and the solving of issues by taking actions...
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...School of Telecommunications, Ohio University Independent Study with WILL HOYT on “Humor in Management” Spring 2002 Introduction This literature review on humor in management explores the issues of effectiveness of humor in the workplace. The primary focus is in management processes. Humorous managers are more effective, so to say. But there are some techniques and tips for turning your humor into managerial success. Not every type of humor can be appropriate. The “What” section of this study deals with a general background about humor. Questions like why we should use humor, whether we should use it at all, etc. will be answered in the “Why” section of this paper. And finally, the “How” section will explore some basic rules on how to use humor in the workplace appropriately. There will be some suggestions even for managers who lack a sense of humor. So, enjoy and remember the most important aspect of humor in the workplace: Your employees should laugh with you, not at you! WHAT Humor is a quintessentially social phenomenon, since every joke requires both a teller and an audience. A sense of humor is a different and positive perspective on events and things. It can be utilized as an instrument to develop an atmosphere that is conductive to motivation. Laughter itself has physical, emotional, and moral benefits. Humorous people tend to be more adaptive, more capable of handling stress, more intelligent and more analytical. They are also more open, articulate...
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...1.0 Introduction To be a successful manager, you’ll have to master a number of skills. To get an entry-level position, you’ll have to be technically competent at the tasks you’re asked to perform. To advance, you’ll need to develop strong interpersonal and conceptual skills. The relative importance of different skills varies from job to job and organization to organization, but to some extent, you’ll need them all to forge a managerial career. Throughout your career, you’ll also be expected to communicate ideas clearly, use your time efficiently, and reach sound decisions. 1.1 Objectives Broad Objective: To identify the managerial skills necessary to be a successful manager. Specific Objectives: To learn about Technical Skills of a manager. To learn about Interpersonal Skills. To learn about Conceptual Skills. To learn about Diagnostic Skills. To learn about Communication Skills. 1.2 Scope This report highlighted different managerial Skills. I have included the important terms and conditions of Managerial Skills. I have tried to understand the implications of the Managerial skills necessary to be a successful manager. 8 1.3 Methodology The study is based on both secondary and primary sources. Most of the information used in this report is from secondary sources. The secondary sources which have been reviewed are: books, journals, reports, and data from various official and unofficial sources...
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...| |Course: MGMT-591-10687 Leadership & Org Behavior | |Instructor: Professor Michael Carr | |Date: September 14, 2013 | | | The Life Styles Inventory (LSI) is a self-assessment diagnostic instrument that measures 12 key thinking patterns, or "styles". The LSI promotes performance change and improvement by increasing personal understanding of one's thinking and behavior. By responding to 240 inventory items, individuals learn exactly where their strengths lie and where they need to focus their development efforts. The results of the self-description are plotted on a circular graph for easy visualization of how the individual thinks and behaves in the 12 LSI styles. This profile acts as a personalized developmental needs assessment, calling attention to the individual's strengths as well as areas needing improvement. My primary thinking style is humanistic – encouraging. My score within this style is in the high area, falling into the 80th percentile. According to the LSI, humanistic people are accepting of themselves...
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...brilliant combat sequences, state of the art war technology and edge of your seat emotion for an overall great picture. I chose this film because I have always really been into war and action type movies and I thought it would be a great film to relate topics that we have discussed in class to real life situations. Working in a cubicle or a standard office is a little different than the type of work that these brave men do every day, but it is still work and they go out there and apply the same principals to get the job done and come back home just like every other person in the workplace. The barriers and challenges of diversity as discussed in Chapter 4 of our textbook discusses different types of challenges that woman and minorities might have in the workplace and even goes on to discuss examples like the four layers of diversity. Here in America we are a very diverse group of individuals and the Navy is no different. In the movie, SEAL team 7 is made of people from all different types of backgrounds that have to learn about each other and how to work around their differences to become brothers in arms working together as a flawless group of killing machines. They became very close and learned how to work together flawlessly because in their dangerous missions there is zero room for error or disagreements, you essentially trust your life to your squad. In the SEALs division there are still problems that exist however, even in today’s equal workforce women are not allowed to become...
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...Chapter 1 Managerial Accounting and the Business Environment Solutions to Questions 1-1 Managerial accounting is concerned with providing information to managers for use within the organization. Financial accounting is concerned with providing information to stockholders, creditors, and others outside of the organization. 1-2 A strategy is a game plan that enables a company to attract customers by distinguishing itself from competitors. The focal point of a company’s strategy should be its target customers. 1-3 Customer value propositions fall into three broad categories—customer intimacy, operational excellence, and product leadership. A company with a customer intimacy strategy attempts to better understand and respond to its customers’ individual needs than its competitors. A company that adopts an operational excellence strategy attempts to deliver products faster, more conveniently, and at a lower price than its competitors. A company that has a product leadership strategy attempts to offer higher quality products than its competitors. 1-4 Managers carry out three major activities in an organization: planning, directing and motivating, and controlling. Planning involves establishing a basic strategy, selecting a course of action, and specifying how the action will be implemented. Directing and motivating involves mobilizing people to carry out plans and run routine operations. Controlling involves ensuring that the plan is actually carried out and is appropriately...
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...be a collection of individual aspirations, hopes and dreams. Inspiring them to be part of a better future resulting in everybody to work harder. ii. Corporate Vision To be known globally for extending excellent and personalized services akin to that of a one stop shop which go beyond the traditional requirements of a traveler thereby exceeding the travel/tourist clientele expectations. C. Physical Facilities and Equipment (location, layout and design). Skynet Travel Corporation is located in GF and 2F TSE & SONS Building, 1743 A Mabini St. Malate, Manila. Infront of Tune Hotel. D. Organization i. Organization structure (organizational charts including the department where the student is assigned). ii. Lines of Authority Owner/...
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...Type of dispute: Workplace conflict due to promotion. Time from mediation to result: Two half day sessions. Background: Both Jessica and Alan have been working alongside one another for many years at the local newspaper. As their existing manager leaves the company, Alan is promoted, but still shares an office with the team, of which he used to be a member. Tensions arise when Alan decides to introduce a new policy, which makes little sense to the rest of the team and is likely to increase their already heavy workload. The challenge: Alan and Jessica have been close friends and professional work colleagues for many years. For this reason the biggest challenge was to identify the “spark” that ignited the disagreement and decipher the most appropriate way of resolving the conflict, so that they could regain their previous friendship. Objectives: - Allow each individual to express what is troubling them in a safe manner - Find a common ground which they can both agree on - Make a future agreement, rather than dwelling on the past - Get them working together as a team again Reason for conflict: Jessica’s position: Working at the newspaper for the longest period of time, Jessica has seen what initiatives worked well and what tended to cause problems. She was convinced that the new policy would fail, as well as increasing everybody’s individual workload. It was clear that the policy was set by senior management, but Jessica felt that Alan could have demonstrated a firmer...
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...Business Manager - Operations Excellent culture and senior management opportunity Executive salary package on offer About our Client Our client is a top tier parking operator across the West Australian market. With multiple sites across the state as well as being part a larger parent group, they are founded on market leading customer service and are going from strength to strength. Job Description This position assumes functional responsibility for overseeing the overall and strategic operations of car park sites within the state portfolio. The purpose of the role is to provide leadership, guidance and direction to line managers, area operations managers and direct reports to ensure that they are able to perform their roles effectively and efficiently. The position is the primary conduit for information, reporting and implementation of direction to and from the State Manager - WA, Clients and senior operations personnel. The Successful Applicant The successful applicant will ideally have: •Multi site management exposure•Man management experience•P+L experience •Passion for strategically developing a business unit•Tertiary qualified in a business discipline What's on Offer: •Top end salary package•Perth city based offices•Chance to work within an exciting and dynamic culture. To apply online please click the 'Apply' button below. For a confidential discussion about this role please contact Edward Ellis quoting reference number A107277957 on +61 8 9215 9511.Email...
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