...Rusty Rims IT Strategic Plan, Part 2 Before you begin this assignment, be sure you have read the “Rusty Rims Case Study” and the feedback you received on your IT Strategic Plan Part 1 assignment. Also, be sure you have read the chapters in the textbook that have been assigned to this point. Purpose of this Assignment This assignment gives you the opportunity to apply the course concepts to complete the development of an Information Technology Strategic Plan (ITSP) to support the strategic direction of Rusty Rims Distribution Company (RR). This assignment specifically addresses the following course outcomes to enable you to: identify, define, and explain the concepts of information technology governance and management apply best practices in information technology management and governance to make, defend, and justify an IT decision IT Strategic Plan for Rusty Rims Distribution Company For the previous assignment, you developed Part 1 of an IT Strategic Plan for RR. For this assignment, you will incorporate any needed changes resulting from the feedback you received on your Part 1 assignment and you will add Part 2. Part 2 will include an IT project that you are proposing that RR undertake. This new project will be included in the IT Portfolio section of Part 2, and will be further described in a future assignment, the “IT Decision Paper.” The entire ITSP will be submitted as a single document for this assignment. Assignment First, you should make...
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...Principles of Managerial Finance Solution Lawrence J. Gitman PART 5 Short-Term Financial Decisions CHAPTERS IN THIS PART 14 Working Capital and Current Assets Management 15 Current Liabilities Management INTEGRATIVE CASE 5: CASA DE DISEÑO Find out more at www.kawsarbd1.weebly.com 372 Last saved and edited by Md.Kawsar Siddiqui Principles of Managerial Finance Solution Lawrence J. Gitman CHAPTER 14 Working Capital and Current Assets Management INSTRUCTOR’S RESOURCES Overview This chapter introduces the fundamentals and describes the interrelationship of net working capital, profitability, and risk in managing the firm's current asset accounts. The chapter then focuses on the management of three major current asset accounts⎯cash, accounts receivable and inventory. A brief discussion of general inventory management policies, international inventory management, and several specific inventory management techniques: ABC, economic order quantity (EOQ), reorder point, materials requirement planning (MRP), and just-in-time (JIT). The key aspects of accounts receivable management are discussed: credit policy, credit terms, and collection policy. The chapter also discusses the additional risk factors involved in managing international accounts receivable. Examples demonstrate the effect of changes in credit policy. Also discussed is the impact of changes in cash discounts PMF DISK This chapter's topics are not covered on the...
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..."As manager’s adviser to a possible new firm, set out the entrepreneurial new business lifecycle to help the business owners develop a strategic plan, also the options and challenges they will face in the growth and development phase ,and later on , when pursuing a “going global’ focus." At the beginning, what is Entrepreneurship? Entrepreneurship is strategic thinking and risk-taking behavior that results in the creation of new opportunities. The Entrepreneurs are either; * A classic entrepreneur is someone willing to pursue opportunities in situations others view as problems or threats. * A serial entrepreneur starts and runs businesses and nonprofits over and over again, moving from one interest and opportunity to the next. * A first-mover advantage comes from being first to exploit a niche or enter a market. What many people think is that entrepreneurial ventures and small businesses are one and the same, but they aren't. Entrepreneurial ventures are organizations that pursue opportunities, are characterized by innovative practice, and have growth and profitability as their main goals. While, Small Businesses are organizations that are independently owned, and financed; has fewer than 100 employees; doesn't necessarily engage in any new or innovative practices; and have relatively little impact on its industry.(p292) Attitude & Personal Interests of Entrepreneurs * Internal locus of control. * High energy level * High...
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...Case 2–2 Sabor Inc. In mid-April, Ray Soles, vice president of supply chain management at Sabor Inc., had become increasingly concerned about the potential shortage of supply of marconil, a new high-tech raw material for air filtration. Sabor Inc.’s three suppliers, during the last two weeks, had ad- vised Ray Soles to sign long-term contracts and he was trying to assess the advisability of such commitments. SABOR INC. Sabor Inc. of Cleveland, Ohio, produced high-quality consumer and industrial air-conditioning and heating units. An extensive network of independent and company-owned installation and sales centers serviced customers throughout the North American market. Total company sales last year totaled $800 million. AIR FILTRATION AND MARCONIL Sabor Inc. for decades had sold air humidification and air filtration units along with its prime units in air heating and cooling. Until three years ago, air filtration had accounted for about 7 percent of total corporate sales and had been sold primarily as add-ons to a new air cooling/ heating system. However, with the advent of marconil, air filtration had started to increase significantly as a percentage of total sales. Marconil, a new high-tech product developed as part of the U.S. space effort, had a range of unique properties of high interest to a variety of industries. In the case of air filtration, when processed by a Sabor Inc. developed and patented process, marconil could be transformed into a thin, very light...
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...small business, a person must have a well written business plan. A business plan is an “a formal document that describes a business concept, outlines core business objectives, and details strategies and timelines for achieving those objectives” (Kelly & McGowan, 2012).A business plan consist of marketing: products and services offered, demand from customs, market and location, advertising and marketing plan and pricing strategy, Financial Management: amount needed to start, expected cash flow, projected income and balance sheet, etc...Operation: daily management, hiring and personnel policies, insurance coverage and leasing agreement (Gordick, 2003). Within a small business, a small business owner must be able to keep track of the money that is coming in and going out. Using the different financial source and equation to operate your business is essential in owning and operating a small business. Understanding the concepts will help you own, operates and sustain a small business. NPV and payback is a concept a small business owner must understand, when making decision in a small business. NPV or net present value method is a dynamic investment appraisal and a discounted cash flow method (Rudolf, 2002). “The basis for the net present value method is the assumption that one euro today is worth more than one euro will be worth tomorrow” (Rudolf, 2002). In a small or any business the owner want the capital in more than the capital going out in a business. The net present value...
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...Best Snacks Problem Solution Lashanna Dipiano MMPL/550 May 12, 2011 Phillip Norris Best Snacks Problem Solution Best Snacks, Inc is a 150 year old company that has been held publicly for more than 100 years. Although the company has enjoyed many years of success, it has recently failed sustain its success due to the lack of innovation and creativity over the last 5 years. In today’s business environment innovation is necessary to sustain success and is an integral part of the business model. The ability to learn faster, better, and more cheaply than the competitor can mean the difference between maintaining market leadership and barely surviving (Davila, Epstein& Shelton, 2006). To regain its long held standing as a leader in the snack industry Best Snack, Inc must implement a plan that focuses on creating a culture that cultivates innovation, developing management systems that are aligned with the new strategy, and creating a new product line that will bring the company back to the forefront in the snack industry. Describe the Situation Issue and Opportunity Identification Best Snacks, Inc has been a leader in the snack industry for many years. As the snack industry began to change to meet the demands of a consumer market that is more health conscious, Best Snacks has failed to meet the challenge. Best Snacks has been slow to adapt to change and stray away from its tried-and-true research, development, and marketing activities (University of Phoenix, 2006). The...
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...comes directly from the general manager. Each functional expert maintains technical responsibilities over the development, maintenance and revision of their operative field. Both success and failure fall directly on the project manager. Outline the process steps that your company would take in order to develop the motorcycle. Provide a rationale for the response. 1. Team Assembly Project success depends on team performance. By assembling or building teams, it positions the project to succeed. The team will be defined by which skills are needed, if needed skills are available and accessible or ensure the needed skills are onboard. 2. Project Objective The project object will describe the project outcomes. It gives a clear and explicit directions for the project team. In this case, the motorcycle touring class explicitly states the objective: produce larger motors, specific designed to excel long distance with engines larger than 1100cc, targeting males between 25 and 60 in global markets, price ranges from $55,000 to $100,000 and to within the next five years. 3. Project Scope The scope is work that must be completed to achieve the final scope of the project, namely the products, services, and end results (Kerzner, 2013, p. 521). The scope will clearly establish a beginning and an end, including the project deliverables to develop the motorcycle. By developing a Work Breakdown Structure, it will aid the...
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...nagementpm4dev, 2007 –management for development series © The Project Management Processes PROJECT MANAGEMENT FOR DEVELOPMENT ORGANIZATIONS The Project Management Processes PROJECT MANAGEMENT FOR DEVELOPMENT ORGANIZATIONS A methodology to manage development projects for international humanitarian assistance and relief organizations © IMPACTO4DEV 2007 Our eBook is provided free of charge on the condition that it is not copied, modified, published, sold, re-branded, hired out or otherwise distributed for commercial purposes. Please give appropriate citation credit to the authors and to PM4DEV. Feel free to distribute this eBook to any one you like, including peers, managers and organizations to assist their project management activities. www.pm4dev.com The Project Management Processes PROJECT MANAGEMENT PROCESSES Project management is a process of leading a team of capable people in planning and implementing a series of related activities that need to be accomplished on a specific date with a limited budget. Because of its nature, coordinating all these activities requires a process approach. Because many times development project take on unexplored territory, assumptions about the project must be listed, evaluated, its risks assessed and contingency plans developed. It also requires a close monitoring of the budget, scope and schedule to deliver the project objectives under the expected quality. Each one of these elements needs to be managed in a systematic...
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...UNIVERSITY OF NAIROBI MASTERS IN ARTS-PROJECT PLANNING AND MANAGEMENT PROJECT MANAGEMENT Course Code: LDP 604 Course Name: Project Design, Planning and Implementation Duration: October 2013-February 2014 Assignment: Group Presentation Topic: Strategic Issues in Project Management Date: 30th October, 2013 Group Members: 1. Winnie Munene 2. Philip Abong’o 3. Bernard Tarus 4. Noel Amoit 5. Brian Kenya 6. Sam Kiarie 7. Peter Kabutu Lecturer: Mr A. Bwibo Definition A strategy is a method or plan chosen to bring about a desired future, such as achievement of a goal or solution to a problem. It can also be defined as the art and science of planning and marshalling resources for their most efficient and effective use. An issue is something that has happened and either threatens or enhances the success of a project. Issue management is the process of recording and handling any event or problem. Some of the issues can be dealt with within the project; however strategic issues may require a change in order to keep the project viable. Therefore, the following are diverse definitions of strategic issues in project management:- A strategic issue in a project is a condition of pressure, either internal or external that will have a significant effect on one or more factors of the project such as its financing ,design, engineering, construction and operation.(MBA knowledge base). Cleland D. (1989)...
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...Planning: The planning process is the first basic managerial function According to Koontz and O’donnell,” Planning is deciding in advance What to do, how to do it, when to do it, and who is to do it.” Importance of Planning: Planning is the first and most important function of the management. It is needed at every level of the management. In the absence of planning all the business activities of the organization will become meaningless. The importance of planning has increased all the more in view of the increasing size of organizations in the absence of planning, it may not be impossible but certainly difficult to guess the uncertain events of future. Planning is important because: 1. Planning reduce risk of Uncertainty 2. Focuses on objective 3. Ensures efficiency 4. Planning provides Direction 5. Planning establishes Standards for controlling Elements/Types of Planning: 1. Mission/Purpose: It describes the types of business. It defines the overall ‘working’ of the business. It is a long term plan. 2. Objective or goal: It means expected end result. It is the specification of mission. It may be qualitative or may be quantitative. 3. Strategy: It means determination of long term actions and selecting the best/appropriate options to achieve the mission/objectives. There are some considerable based on company’s strength and weakness. 4. Policy: Guidelines for managerial decisions. It’s the boundaries for doing something...
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...10 Strategy Magazine www.sps.org.uk I Issue 28 I March 2012 Were strategy errors behind the crisis? While the 2008 crash and its aftermath are inextricably linked in the public’s view with ‘greedy bankers’, the conditions for a recession were already present in other sectors. Disasters like Northern Rock and Royal Bank of Scotland were caused not by banking blunders but basic errors of strategy. By Kim Warren H ad the recent crisis been limited to banking, as most of the public believes, the downturn may have been less destructive. However, mistakes occurred in other sectors, even among otherwise successful companies. Spectacular cases may hit the media but they are only the visible tip of a large iceberg of strategy errors that damage value across all sectors. Starbucks, for example, has mostly been outstandingly successful, but its recent history shows costly errors. Not only did the company suffer a major drop in profits during 2008-09, but it also had to close more than 500 underperforming stores – stores previously opened at a cost to shareholders of hundreds of millions of dollars. Its smaller UK rival, Costa Coffee, suffered no such collapse in profits, even though its market also saw a drop in consumer confidence. Starbucks’ error is all the more remarkable because, just a few years earlier, McDonald’s publicly explained that it had made exactly the same mistake. Problems do not just show up in recessions. In 2005, eBay acquired Skype for $2.6 billion,...
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...Jim Jordan 3/10/13 Environmental Planning Risk Management and Drought In order to be able to discuss the components needed for a risk management approach to a drought, it is important to first understand what risk is. How likely is it? What can happen? What are the impacts? Questions like these are very useful in understanding what risk is, and how to evaluate the risk. By taking both the possibility of an event happening as well as the possible consequences of such an event, such as a flood for example, can help rank how big of a risk is involved. It is also important to realize that risk affects different people differently, so the risk perception and concern is different from one person to the next, so therefore the needs for reduction is different from one individual to the next. These needs can apply to any event, but are particularly important when it comes to managing a drought. A drought is defined as a deficiency of precipitation from expected or “normal” that extends over a season or longer period of time. It is important to note that a drought is not a permanent feature of climate, but instead is a temporary feature or an aberration. Aridity on the other hand is a permanent climate feature that is primarily dry, and is often found in the Southwestern part of the United States. Another distinct feature about a drought is that unlike other climate phenomena, it is a very slow onset, sometimes referred to as “creeping” or non-event. The impacts tend...
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...Business Strategy Review Questions Chapter 1 The Nature of Strategic Management 1. Distinguish between long-range planning and strategic planning. Long-range planning is used to optimize for tomorrow the trends of today, whereas strategic planning is used to exploit and create new and different opportunities for tomorrow. 2. Compare a company’s strategic plan with a football team’s game plan. A strategic plan is, in essence, a company’s game plan. Just as a football team needs a good game plan to have a chance for success, a company must have a good strategic plan to compete successfully. 3. Describe the three activities that comprise strategy evaluation. The three fundamental strategy-evaluation activities are (1) reviewing external and internal factors that are the bases for current strategies, (2) measuring performance, and (3) taking corrective actions 4. How important do you feel “being adept at adapting” is for business firms? Explain. The strategic-management process is based on the belief that organizations should continually monitor internal and external events and trends so that timely changes can be made as needed. 5. Compare the opossum and turtle to the woolly mammoth and saber tooth tiger in terms of being adept at adapting. Students’ answers will vary, but students are likely to make the argument that those species that are adept at adapting are able to survive, while those that are unable to adapt are more likely to perish...
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...Lawrence Sports has had to make some short-term decisions concerning its working capital management. In order to learn from this experience they will develop a working capital policy which will increase the predictability and efficiency of their cash. Working capital is defined as “the assets of a business that can be applied to the operations” or “the amount of current assets which exceed the current liabilities” (Answers, 2007, para. 1). Working capital management involves the “deployment of current assets and current liabilities as to maximize short-term liquidity” (The Free Dictionary, 2007, para. 1). The intent of a working capital management policy is to ensure an organization is able to continue business operations and has adequate ability to satisfy both short-term debt and upcoming operational expenses. Simply stated, “good management of working capital will generate cash, improve profits and reduce risks” (Anonymous, 2007, para. 2). Lawrence Sports, a manufacturer and distributor of sporting goods equipment, is currently facing a number working capital and cash flow management issues largely related to past due payment of their largest customer, Mayo Stores. This paper will take a closer look at Lawrence Sports’ simulation and identify the issues, goals, potential solutions, evaluate risks and define metrics to measure the success of the working capital management strategy selected to address the short and long-term financing needs of the organization. Situation...
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...Silvio Case Analysis Introduction The Silvio case reads as a classic case of a manager born far earlier than he should have been. The facts that will be analyzed paint a picture of a smart but untested manager that was set out with a noose already around his neck and tightened with little room for escape. The lack of analysis of feasibility of his original plan and a proper risk assessment led to a very difficult situation. Silvio made some key mistakes on his approach to starting up a new business in a country that already had key leaders and a culture he did not understand. This report will analyze some of those mistakes so that a clear picture can be gleaned of what not to do during a start-up in a new market. Analysis From the list below, identify and briefly discuss what you consider to be the two major issues and management problems challenging Schindler’s cultural adaptation for its operations in India. * Strategy, mode of entry The largest of the issues faced is the strategy and mode of entry that Silvio proceeded with to enter an already established market. The Swatch model of low cost standardization works because it is a simple design in a watch. This was implemented by many different production managers in the 90’s with varying levels of success depending on what they were manufacturing. This deviation may work in some situations, but in this case it is a very poor choice. The market was already flooded with low cost versions of elevators and the...
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