... |5 | | |and Recruiting | | | |Lecture Outline | | | |Workforce Planning and Forecasting |In Brief: This chapter explains the process of | | |Strategy and Workforce Planning |forecasting personnel requirements, discusses | | |Forecasting Personnel Needs (Labor Demand) |the pros and cons of methods used for recruiting| | |Improving Productivity Through HRIS |job candidates, describes how to develop an | | |Forecasting the Supply of Inside Candidates |application form, and explains how to use | | |Forecasting the Supply of Outside Candidates |application forms to predict job performance. | | |Talent Mgmt. & Predictive Workforce Monitoring | | | |Developing an Action Plan to Match Projected Labor Supply and Demand |Interesting Issues: The Internet has changed | | |The...
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...Strategies Submitted by Minnie Mouse Research two corporations that have had different outcomes (one successful and one unsuccessful) with their diversification strategies. Compare and contrast each corporation’s diversification strategy and evaluate the reasons for each one’s success or failure in the venture. Compare and contrast the two businesses—core business, their size, financials, global presence, use of e-business (marketing, sales, etc.). A great example of companies that utilized completely opposite paths in the business world is Wal-Mart and Kmart. Recently, Kmart is on an endless downhill spiral while Wal-Mart has risen to the top of the retail industry and is their financial strength is strong. Wal-Mart is the largest business enterprise in the world as well as the nation’s biggest employer and the number one retailer in the U.S. There are over 5000 Wal-Mart stores and they report sales over three-hundred billion dollars. Two million people are employed by Wal-Mart in twenty-eight countries in the world. Fortune magazine’s 2010 Most Admired Companies Survey ranks Wal-Mart among the top ten retailers. Kmart is now the #3 discount retailer behind Wal-Mart and Target. There are 1,300 Kmart stores located in 49 US States as well as Puerto Rico, Guam, and the US Virgin Islands. Compare and contrast their outcomes (one successful, one unsuccessful). Kmart and Wal-Mart both began in 1962 and they both sold the same...
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...QDC1 Study Questions Quality Management: Ch. 9-10, Operations Management Click for Skillsoft Module: The Who, What and Why of ISO 9000:2000 Click for Skillsoft Module: Six Sigma: Reducing Variation to Improve Quality List the types of graphical charts used in operations management. Flowchart, Check Sheet, Histogram, Pareto Chart, scatter diagrams, control charts, run charts, cause and effect diagrams Which charts are important in statistical process control (SPC)? Control Charts Describe the uses of functional flowcharts. Diagrams show steps in a process Describe the uses of histograms. Empirical Frequency distribution; shows the frequency of an occurrence of a variable Describe the uses of run charts. Used to track results over a period of time Describe the uses of control charts. used to track results over time Describe the issues management faces when implementing quality and incorporating improvements into daily operations. Lack of companywide definition of quality, lack of a strategic plan, lack of customer focus, poor intra-organizational communication, lack of employee empowerment, view of quality being a quick fix, emphasis on short-term financial results, inordinate presence of internal politics, lack of strong motivation, lack of of time devoted to quality initiatives, Lack of leadership Identify procedures that lead to process improvement. customer satisfaction, achieving higher quality, reducing waste, reducing cost, increasing productivity...
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...Planning and Controlling the Supply Chain ISCOM 471 December 24, 2012 Planning and Controlling the Supply Chain Within the many different organizations in todays business world there are some key factors that will establish the profitability, growth, and longevity of a company. Some of the things we will discuss will be that of how my chosen corporation American Express applies some of the forecasting techniques to better develop the company. There will also be the analysis of production plans, master production schedules, and carrying inventory and how it relates to the overall American Express budget. Along with all the above we will also compare and contrast how planning usage differentiates between a service organization such as American Express and a manufacturing organization. Lastly we will also compare and contrast the use of material requirements planning system concepts. When it comes to forecasting it is first important to determine the different types of forecasting and how they are classified. In forecasting there are four basic types which are qualitative, time series analysis, casual relationship, and simulation. The first forecasting type qualitative is "subjective or judgmental and are based on estimates and opinions", (Chase, Jacobs, & Aquilano, 2006). Some of the main characteristics of qualitative forecasting are market research which is encompassed by collecting data by surveys and interviews which help determine market hypothesis. This research...
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...This paper is not to be removed from the Examination Halls UNIVERSITY OF LONDON AC3091 ZA (279 0091) BSc degrees and Diplomas for Graduates in Economics, Management, Finance and the Social Sciences, the Diplomas in Economics and Social Sciences and Access Route Financial Reporting Thursday, 17 May 2012 : 2.30pm to 5.45pm Candidates should answer FOUR of the following SEVEN questions. All questions carry equal marks. Workings should be submitted for all questions requiring calculations. Any necessary assumptions introduced in answering a question are to be stated. Extracts from compound interest tables are given after the final question on this paper. 8-column accounting paper is provided at the end of this question paper. If used, it must be detached and fastened securely inside the answer book. A calculator may be used when answering questions on this paper and it must comply in all respects with the specification given with your Admission Notice. The make and type of machine must be clearly stated on the front cover of the answer book. © University of London 2012 UL12/0007 D01 PLEASE TURN OVER Page 1 of 11 1. The income statements for the year ended 31 December 2011 and the statements of financial position as at 31 December 2011 for J Plc, L Ltd and R Ltd are given as follows: Income statements for the year ended 31 December 2011 J Plc £’000 2,900 (600) 2,300 (650) 180 1,830 (720) 1,110 (150) 960 1,500 2,460 L Ltd £’000 2,100 (900) 1,200 (480)...
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...of the gross domestic product. The GDP is very important because it measures the condition or the status of a country’s economy. It signifies the monetary value of all goods and services within a time span of a year. The compilation of this data amount is considered to be the most reliable of financial statistics. This data is used to determine if the U.S. economy is growing more quickly or more slowly than the quarter or the year before. GDP is also used to compare the size and growth rate of the economies throughout the world. Economic production and growth has a large impact on nearly everyone within that economy. When you have a strong economy it will show through low unemployment and wage increases within businesses. A significant change in GDP most often has a major effect on the stock market. An unhealthy economy typically means lower profits for companies resulting in lower stock prices. Negative GDP growth is also one of the factors used to determine whether an economy is in a recession. There are basic methods for calculating the GDP that include the income approach and the expenditure approach. The expenditure approach calculates GDP by combining consumer goods, business goods, imports and exports and government goods. It focuses on finding the total output of a nation by finding the total amount of money spent. With the income approach, GDP is determined by calculating the total the income received by all producers in the country. Consumption is the largest part...
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...ASSIGNMENT NO. 1 CHAPTERS 1-3 CHAPTER 1: Problem 1.1 for Self-Study: What are the Differences between Financial and Managerial Accounting? Answer: Financial Accounting - deals with reporting to people outside the organization - the users of the financial accounting reports include shareholders (owners) of a corporation, creditors (those who lend money to a business), financial analysts, labor unions, and government regulators. - Uses historical or current data Managerial Accounting - focuses on the activities inside the organization - many companies call it finance or corporate finance - no required rules and regulations such as Generally Accepted Accounting Principles or Financial Reporting Standards - can and does use projections about the future - managerial accounting information must meet a cost-benefit test or the benefit from providing information must exceed the cost of obtaining the information - new initiatives such as activity-based costing and the balanced scorecard must pass the aforementioned tests Problem 1.2 for Self-Study: Match the concept with the definition. Concept Definition Cost a. Costs directly related to a cost object Opportunity cost b. A sacrifice of resources Expense c. Costs not directly related to a cost object Cost Object d. Any item for which a manager wants to measure a cost Direct Costs e. A cost charged against revenue in an accounting period Indirect Costs f. The return that could be realized...
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...Lean Project Management A research of Lean Production Delivery Systems on methods, processes and tools Zhiyuan Wang Author Note This report answers topic three This report was prepared for 49002 Project Management, taught by Elizabeth Bourke Abstract Current project management practices been found that have inherent difficulties in meeting increasingly stringent clients’ needs. However, it seems that the theories and principles of Lean Production Delivery Systems (LPDS) are the best approaches of all sorts of management theories. This assignment makes a brief Investigates and discusses of LPDS and analyses how to apply the principles, theories, processes and tools to current project management practices. This assignment concentrates on topic three and compares the difference between current and LPDS approaches in methods, processes and tools. Lean Project Management A research of Lean Production Delivery Systems on methods, processes and tools Background Before people name it Lean Production Delivery Systems1 (LPDS), many American experts call it TPS which is short for Toyota Production System (Womack et al., 1990). This production system been called as just-in-time production at the beginning state. It was created and developed by the founder of Toyota, in order to gain higher quality and lower cost, in the 1950 s. This production system became famous and been paid more attention by experts when Toyota made much profit during 1970s economic crisis while other...
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...including the lathe, is in operation. At present, Ed works a regular 40-hour week. However, due to the workload for producing part 3079, it has been necessary to schedule frequent overtime for him in order to finish necessary parts on time. Coral Snodgrass, operations manager for Space Age, has just heard from Ed’s foremen that Ed is becoming unhappy about so much overtime. As Coral knows, Ed has been with the company a long time and is an excellent, reliable employee. Skilled machinist with Ed’s experience and employment record are extremely difficult to find. Coral wonders what can be done to alleviate this problem. Recently, Space Age began using an MRP system that has helped reduce inventories greatly and improve on-time deliveries. In fact, Space Age carries no finished-goods inventory. Instead, everything in the master schedule is being produced for customer orders, so all products are shipped almost immediately. Previously Space Age had estimated that it cost $1.25 per week to store each Gemini and $1.50 per...
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...the level of performance, ratios enable financial statement users to examine how a firm has performed relative to its peers and relative to its own historical performance. A firm’s ratios can differ from its peers or its own historical performance because it has selected a different product market strategy, because its management team has become more effective at implementing its strategy, or because it has selected a different financial strategy. Of course, as we have seen throughout the course, sometimes firms can appear to perform differently because they have selected different accounting methods for reporting the same underlying economic events. For this reason, a precursor to effective financial ratio analysis is the development of a clear understanding of how a firm’s accounting decisions compare with those of its competitors, or with its own decisions in prior years. If there are important differences in accounting decisions, it may be necessary to make adjustments to the affected firms’ financial statements to ensure that ratio comparisons isolate differences in strategy or performance. Common adjustments include: treating operating leases as capital leases; adjusting LIFO inventories to a FIFO basis; changing the write-off period of intangible assets; restating reserves and charges for bad debts warranties and product returns; recognizing the possible impact of unrecognized potential contingent liabilities; revaluing tangible and intangible assets to reflect...
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...course. As part of the description, explore how your feelings about being required to take a composition course may affect your performance in accomplishing the course objectives. (1 paragraph, 5 sentences) Inventory: Explain what you learned about yourself as a writer working through the inventory exercise. Discuss two ways you want to improve as a writer and why. (1 paragraph, 5 sentences) REQUIRED JOURNAL ENTRY 2: PREWRITING Brainstorming: Brainstorm about specific positive and negative effects computers have had on your personal, professional, and academic life. Create a one-page list of your ideas. Thesis: Based on your brainstorming, write a one-sentence working thesis statement that focuses on the impact of computers related to a single area of your life (personal, professional, or academic). The thesis should be one you could develop into an essay of about one page (250-300 words), directed to readers of your local newspaper. Don't draft the essay in your journal, however. You need only your list from brainstorming and your working thesis statement. REQUIRED JOURNAL ENTRY 3: DRAFTING This entry builds on the brainstorming and thesis you developed for Journal Entry 2. Evidence: Identify three different types of evidence you could use to develop your working thesis from Entry 2. Use specific information from your brainstorming list, as well as any other ideas that come to you. (Length open) REQUIRED JOURNAL...
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...evaluation of these two reporting standards and the discussion on whether to move IFRS worldwide. This paper will outline a few of the differences between GAAP and IFRS as well as review the discussion of standardized reporting using IFRS. Introduction Historically, accounting and reporting standards in the United States have been set by the AICPA (American Institute of Certified Public Accounts) as laid out by the regulations set by the Securities and Exchange Commission (SEC). In 1973, the Financial Accounting Standards Board (FASB) was developed by the AICPA as a council for establishing standards for reporting for all United States companies. Under FASB, GAAP was reorganized into approximately 90 accounting standards offering concise methods to follow for financial reporting. This not only allowed for ease of access when reading US financials statements, but also allowed for comparison of documentation for investments, credits, and other financial decisions. On the other hand, the International Financial Reporting Standards (IFRS) were developed by the International Accounting Standards Board (IASB) based in London. Currently, about 120 nations require the use of IFRS for financial reporting by public companies. Discussions have been underway to converge the United States to the...
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...financial stable, and how to identify opportunities in a struggling company. Moreover, having an extensive knowledge of GAAP standards. For this assignment I will analyze two different company’s financial statements – PepsiCo and Coca-Cola, using three components: profitability, solvency, and liquidity. Furthermore, I will include both a vertical and horizontal analysis of said companies. Ultimately, I will address key concerns with both entities and potential solutions. Arguably, the first step in effective financial analysis is a keen understanding of key concepts and terms. Anyone can take a look at an income statement and spot top line revenue and compare that to another company, but financial stability goes beyond that. There are dozens of components to take into consideration; fiduciary responsibilities, leverage, liquidity, solvency, and of course profitability, just to name a couple. For this analysis we will primarily focus on the latter three. Liquidity – According to “Investopedia”, (2012) liquidity is: “The ability to convert an asset to cash quickly, (Investopedia, 2012).” In other words, liquidity is the amount of liquid cash an organizations keeps on hand, including their ability to liquidate current assets within a short period of time. This is expressed using a couple different ratios, I will focus on the Current Ratio and The Acid Test. Fixed assets – assets convertible after 12 months, cannot be calculated in liquidity. Solvency – According to...
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...BUS 591 Entire Course For more classes visit www.indigohelp.com BUS 591 Week 1 DQ 1 Generally Accepted Accounting Principles (G.A.A.P.). BUS 591 Week 1 DQ 2 Annual Reports BUS 591 Week 1 Homework Problems BUS 591 Week 2 DQ 1 Debits and Credits BUS 591 Week 2 DQ 2 Revenue & Expense BUS 591 Week 2 Homework Problems BUS 591 Week 3 DQ 1 Perpetual Inventory System BUS 591 Week 3 DQ 2 Inventory Valuation Methods BUS 591 Week 3 Homework Problems BUS 591 Week 4 DQ 1 Why do I need accounting BUS 591 Week 4 DQ 2 Sarbanes-Oxley Act of 2002 ............................................................................................................................ BUS 591 Week 1 DQ 2 Annual Reports For more classes visit www.indigohelp.com Annual Reports. Visit the website for Tootsie Roll (www.tootsie.com). Click on “Company Information” then “Financial Information”. Open the latest annual report and review it to find the answers to the following questions: § What are Tootsie Roll’s corporate principles? Do you agree with these principles, or do you feel there are additional principles that should be included? What was the total amount of Tootsie Roll’s assets for the most current year available? § What was the total amount of Tootsie Roll’s liabilities for the most current year available? § What is the amount of the difference between Tootsie Roll’s assets and liabilities? What is this...
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...considerations for their costing systems. Setting-up competitive prices in the market can be a result of proper costing methods. Misallocation of costs may lead to incorrect price estimates, continuous production of unprofitable products, and ineffective processing schedules. In this case study, we will discuss the costing methods Zauner Ornaments are currently using and upon conclusion, it will enable us to distinguish the advantages and disadvantages of each costing method. Case Context The case seeks to assist Zauner’s comptroller, Yu Chia-yi, in determining the best costing method for their overhead costs, in addition to understanding the following concepts: 1. differences between traditional costing systems and activity-based costing, and 2. proper allocation of overhead costs with identification of activities and its associated costs. Zauner Ornaments are launching three different products for their expansion. Yu doubts if the selling prices set by the Sales Department are enough to generate profit for each product line. Then, she analyzed the unit costs for their products to see if the selling prices can cover the product costs. Currently, Zauner allocates its factory overhead on the basis of production volume, but there is a significant loss per unit for the small colored glass ornaments. Their Operations Director, David Metz, suggests in contrast that overhead allocation based on prime costs (sum of direct material and direct labor costs) will result to lower...
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