...to scrutinise a number of courses offered in four different disciplines within a business school and identify how these courses relate with decision making. The conclusions are presented in tabular form. IVEY Business School and The University of Pennsylvania were my source of information. There school of Business offers many different courses all of them lying under or comprising of the different disciplines that are found in business school. Some of these include: i. Business, Economics and Public Policy Course Relation to Decision making Focus Computerized support Intro to Business Economics Explores the economics and politics of public policy to provide the student with an analytic framework. Policy issues relating to taxation, social security, low-income assistance. High Financing and Managing Government Covers cost-benefit evaluations which influence decision making. Role of public policy in affecting the efficiency of markets and the distribution of resources in society. High. Economic Analysis of Law Teaches students how to think as an economist about legal rules and evaluate alternative legal rules. Interpretation of legal rules Moderate Behavioural Economics, Markets, and Public Policy Applies insights from psychology to the study of economic phenomena and decision making. How psychology plays out in markets, where consumers and firms interact and compete. Moderate Managerial Economics The application of microeconomic theory to management problems To understand...
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...Technological University Syllabus for New MBA Program effective from Academic Year 2011-12 MBA I Semester I Accounting for Managers (AFM) 1. Course Objective: The objective of the course is to acquaint the students with the language of Accounting and to develop in them the ability to evaluate and use accounting data as an aid to decision making. The main purpose is to assist the students in developing skills in problem solving and decision making in the financial area. Emphasis is laid on analysis and utilization of financial and accounting data for planning and control. 2. Course Duration: The course duration is of 36 sessions of 75 minutes each i.e. 45 hours. 3. Course Contents: Module No: Module Content No. of Sessions 70 Marks (External Evaluation) 17 I II Fundamentals of Accounting Basic understanding of accounting, Accounting Concepts, Conceptual framework of financial statements, Accounting Policies, Journal Entries and preparation of accounts - Trial Balance to Balance sheet and profit and loss Account, Recognition of Income and Expenses, Provisions, Contingent Liabilities Accounting Standards and Applicability: Disclosure of Accounting Policies (AS-1), Valuation of Inventories (AS-2), Depreciation Accounting (AS-6), Income Recognition & Accrual Income (AS-9), Accounting of Fixed Assets (AS-10), Accounting for Intangible Assets (AS-26), Accounting for Investments (AS-13), 7 7 17 III IV V Preparing and Understanding Financial Statements : Corporate...
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...known: the transmission of knowledge’)-Oxford dictionary. Information, in its mainly restricted technological sense, is a sequence of symbols that preserve to be interpreted as a message. In order can be traced as signs, or broadcast as signals. Information is several kind of event that affects the state of a dynamic system. Theoretically, information is the message (word or expression) organism conveyed. The importance of this idea varies in different context. 1.1: Understand the need to manage information and knowledge within organizations: 1.1.1 The main features of information management: A management information system (MIS), or information management system, is particularly critical to businesses that work in conjunction with other businesses. An MIS has four key features. Data Gathering: MIS help to store data perfectly. The MIS stores the in order to one of two database systems. The first type of database consequently puts that information into graphs. Report Invention: MIS serves to generate reports.. When encouraged by the user, the system compiles the details required, inserting data into the pattern, and then printing the details for the business. Convenience and Integration: This purpose provides two vital outcomes. Organizations can inform the system to provide information in...
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...Management in business and organizational activities is the act of coordinating the effort of others to achieve a desired goal. The coordination of these efforts is carried out using the available resources efficiently and effectively. The continued sustainability of business depends on effective management of the present combined with imaginative visions for the future. On one hand, one need to optimize processes, organizational structure, staffing procedures, and the like, to be faster, more cost efficient, and responsive to current markets. To achieve organizational objectives, businesses must access their vision, encourage innovations, and be willing to adjust or change strategies, products, and markets. The functions of management relate to those activities that help in the value addition and also in achieving the goals and objectives of the organizations. Some of these functions can be production, purchasing, selling, advertising, financing and accounting. Managers are seen as members of these organizations to perform these functions for the organization to help accomplish the goals and objectives. Managers are therefore needed by organizations for their skills and abilities to perform these functions. Manager which has already been found out performs many various roles in business organization. Very often they arise as a result of existence of certain behavior patterns which function in external and internal environment of the company and are related with position of...
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...1 The Changing Role g of Managerial Accounting in a y Dynamic Business Environment McGraw-Hill/Irwin Copyright © 2009 by The McGraw-Hill Companies, Inc. All rights reserved. Learning Objective 1 McGraw-Hill/Irwin Copyright © 2009 by The McGraw-Hill Companies, Inc. All rights reserved. Define Managerial Accounting g g Managerial accounting is the process of Identifying Measuring Analyzing Interpreting Communicating information 1-3 Learning Objective 2 McGraw-Hill/Irwin Copyright © 2009 by The McGraw-Hill Companies, Inc. All rights reserved. Managing Resources, Activities, and P d People l An organization . . . Directing Acquires Resources Organized set of activities Decision Making Controlling g Planning Hires People 1-5 Learning Objective 3 McGraw-Hill/Irwin Copyright © 2009 by The McGraw-Hill Companies, Inc. All rights reserved. How Managerial Accounting Adds Value to the Organization Add V l t th O i ti • Providing information for decision making and planning. • Assisting managers in directing and controlling g g g g activities. g g p y • Motivating managers and other employees towards organization’s goals. • Measuring performance of activities, managers, and other employees. • Assessing the organization’s competitive position. 1-7 Learning Objective 4 McGraw-Hill/Irwin Copyright © 2009 by The McGraw-Hill Companies, Inc. All rights reserved. Managerial versus Financial Accounting A ti ...
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...Management Control of Project Portfolio Uncertainty: A Managerial Role Perspective Tuomas Korhonen, Cost Management Center (CMC), Department of Industrial Management, Tampere University of Technology, Tampere, Finland Teemu Laine, Cost Management Center (CMC), Department of Industrial Management, Tampere University of Technology, Tampere, Finland Miia Martinsuo, Department of Industrial Management, Tampere University of Technology, Tampere, Finland PAPERS ABSTRACT ■ This article presents empirical results on different managers’ viewpoints regarding the sources and management of project portfolio uncertainty. As a key result, this study demonstrates the versatility of uncertainties experienced by managers, the limited degree of perceived control over them, the use of an almost complete management control package in managing uncertainties, and the necessity of managers’ cooperation in the skilled use of the management control package when managing uncertainties. In addition, a further research agenda is proposed. KEYWORDS: project portfolio management; uncertainty; managerial roles; management control systems; product development INTRODUCTION ■ n their product development, large companies have adopted project portfolio management (PPM) as a means for prioritizing and selecting product development projects among various options as well as allocating resources with the value maximization, balance, and strategic alignment of the portfolio in mind (Cooper, Edgett, & Kleinschmidt...
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...Organisations in a Global Environment Henry Foyal’s contribution to the management Presented by Archan Dhakal | FIR2632 | Surya Pokrel | POK2032 | Pariyar Binaya | TIA2125 | Fahad Iqbal | BCM2092 | Purvika Fofindiwala | PCC2292 | Executive Summary Henri Fayol, the father of the school of Systematic Management, was motivated to create a theoretical foundation for a managerial educational program based on his experience as a successful managing director of a mining company. In his day, managers had no formal training and he observed that the increasing complexity of organizations would require more professional management. Fayol's legacy is his generic Principles of Management. Of Fayol's six generic activities for industrial undertakings (technical, commercial, financial, security, accounting, managerial), the most important were The Five Functions of Management that focused on the key relationships between personnel and its management. Planning was referred as drawing up plans of actions that combine unity, continuity, flexibility and precision given the organization’s resources, type and significance of work and future trends. Creating a plan of action is the most difficult of the five tasks and requires the active participation of the entire organization. Planning must be coordinated on different levels and with different time horizons where as organizing was providing capital, personnel and raw materials for the day-to-day running of the business, and building...
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...ASB-1104 Introduction to Marketing Assignment 1 In view of the dynamic nature of the marketing environment, to what extent do you consider consumers to be, in practice, central to marketing activities? Name: ZHUOMING AN Student No: 500356688 Tutor: David James Introduction What is marketing? The answer is not changeless. There are some different definitions about marketing. The Chartered Institute of Marketing define that "Marketing is the management process responsible for identifying, anticipating and satisfying consumers' requirements profitably." (CIM). Taking a concern into this definition, it indicates that marketing begins before a product or service is developed. In additional, it also explain that marketing involves identifying an unsatisfied consumer need or want and determining if a profitable opportunity exists. Another definition is that “A social and managerial process by which individuals and groups obtain what they need and want through creating and exchanging products and value with others." (Kotler et al., 2005). The basic idea of this definition is that core to all marketing activities is customer satisfaction, which means marketing is an ongoing process as consumer demands and the environment is constantly changing. Products need to adapt as demands change. At the same time, marketing does not involve misleading, tricking or manipulation the customer. The Jobber also define the marketing is "The achievement of corporate goals through meeting...
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...ISSN: 2277 – 100X RIJBFA RADIX INTERNATIONAL JOURNAL OF BANKING, FINANCE AND ACCOUNTING DECISION MAKING AND THE ROLE OF MANAGEMENT ACCOUNTING FUNCTION – A REVIEW OF EMPIRICAL LITERATURE Fitsum Kidane (Phd. Research scholar), Lecturer in Accounting and Finance College of Business and Economics Mekelle University Mekelle, Ethiopia Abstract This study examines decision making and the role of management accounting function in a business organization. Using the review of literature, I identify management accountants perform a wide variety of tasks. Only a part of management accounting activity is directed at performance improvement. Some of the activities they perform are related to the statutory reporting requirements of the organization. Some of these are related to the operational requirements of the finance function itself such as processing transactions receiving money and paying bills. Literature foresees new management accounting techniques and changes in organizational and business environments having a huge impact on management accountants’ roles, yet empirical evidence on fundamental shifts in these roles remains relatively scarce. Journal of Radix International Educational and Research Consortium www.rierc.org RIJBFA KEYWORDS Volume 1, Issue 4(April 2012) ISSN: 2277 – 100X Decision making, management accountant, management accounting INTRODUCTION Accounting can be defined as "the process of identifying, measuring and communicating economic...
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...further, it is by standing on the shoulders of giants”. Discuss the ways how a modern day manager benefit from a study of the historical development of management thought. In doing this you need to specifically show how aspects of management theories from the past can be applied to contemporary management practice. The ability and means by which an organisation is run, requires for strong managerial expertise and leadership. The ability to realistically plan, organise resources effectively and efficiently, co-ordinate and control resources in this every changing, complex, dynamic environment is at the forefront of quality managerial practices. Good management has demonstrated itself more important than ever, with the peak Global Financial crisis in 2008/2009 proving that the historical theory’s and innovations in managerial practices are absolutely paramount to thriving economic prosperity. It is through the functions, approaches included in the literature of Henri Fayol’s 1949 English translated General and Industrial Management, Henry Mintzberg’s studies into managerial roles and German sociologist and economist Max Weber’s concept of bureaucracy that acknowledge and promote guidelines, expectations and accountability from managers. The extent, to which modern day management upholds and applies all three of these historical studies/ theories into modern management practices will be basis for coherent, strong, fully functioning and ultimately successful...
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...AEROSPACE MBA Syllabus & Curriculum 2015-2016 Contact: Phone: +33 5 61 29 48 64 Fax: +33 5 61 29 48 07 E-mail: aerospace.mba@tbs-education.fr TABLE OF CONTENTS Welcome to the Toulouse Business School Aerospace MBA program 3 The pedagogical philosophy 4 The general structure of the Aerospace MBA 4 Assessment guidelines 7 Team Building Seminar and Leadership Development 10 Core Management 14 Process Workshops 23 Electives 34 Corporate mission project / Professional thesis 35 Academic team 37 Administrative and Management Team 39 Appendix I: Details on Multicultural Team Project 40 Appendix II: Details on Corporate mission project / Professional thesis 41 2 Welcome to the Toulouse Business School Aerospace MBA Program Preamble The Aerospace MBA is a post-experience degree seen as a career accelerator or a means to make a career shift after a minimum of 3 years’ professional experience. This MBA is a generalist degree in business administration with a broadening management program linked to the Aerospace sector and environment. The Aerospace MBA has a minimum length of one year of full-time or 2 years of part time study in the wonderful city of Toulouse. The Aerospace MBA will require a significant amount of classroom study or structured contact. In all, the program requires a minimum of 1800 hours of personal work. This MBA program is intellectually demanding...
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...AEROSPACE MBA Syllabus & Curriculum 2015-2016 Contact: Phone: +33 5 61 29 48 64 Fax: +33 5 61 29 48 07 E-mail: aerospace.mba@tbs-education.fr TABLE OF CONTENTS Welcome to the Toulouse Business School Aerospace MBA program 3 The pedagogical philosophy 4 The general structure of the Aerospace MBA 4 Assessment guidelines 7 Team Building Seminar and Leadership Development 10 Core Management 14 Process Workshops 23 Electives 34 Corporate mission project / Professional thesis 35 Academic team 37 Administrative and Management Team 39 Appendix I: Details on Multicultural Team Project 40 Appendix II: Details on Corporate mission project / Professional thesis 41 2 Welcome to the Toulouse Business School Aerospace MBA Program Preamble The Aerospace MBA is a post-experience degree seen as a career accelerator or a means to make a career shift after a minimum of 3 years’ professional experience. This MBA is a generalist degree in business administration with a broadening management program linked to the Aerospace sector and environment. The Aerospace MBA has a minimum length of one year of full-time or 2 years of part time study in the wonderful city of Toulouse. The Aerospace MBA will require a significant amount of classroom study or structured contact. In all, the program requires a minimum of 1800 hours of personal work. This MBA program is intellectually demanding...
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...Some of its foods include grocery, bakery, specialty, nutritional supplements, body care, books, pet products, seafood, meat & poultry, catering, coffee & tea and vitamins among others. A quick glance at the financial statements its net income after tax has been growing significantly for the last four years. The company reported a net income of 146, 245, 342 and 465 million the years 2009 up to 2012 respectively (Whole Foods Market Inc. 2013). 1. Company’s financial performance for 2010 The company did not offer any dividends to stockholders for the year ended September 2010. The stakeholders philosophy at Whole Food is customer first then the rest partake to what remains. The other stakeholders such as stockholders, employees, environment, suppliers and the community share on the remaining benefits. The company believes in meeting values of all stakeholders rather than the common approach by many firms where the needs/interests of shareholders come first. Many organizations have tended to focus on the interests of shareholders at the expense of the rest (Maguire, 2007). The company focuses on a harmony of interests approach in managing stakeholder’s expectations since they take all stakeholders to be important. In a nutshell, Whole Food Market synergizes contribution of employees and owners to provide value for the consumer. In pursuant of the philosophy, Whole Food has received awards in the best company to work for, recognized as a leader...
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...Chapter 01 The Changing Role of Managerial Accounting in a Dynamic Business Environment Chapter 01 The Changing Role of Managerial Accounting in a Dynamic Business Environment Answer Key True / False Questions 1. Controlling involves the coordination of daily business functions within an organization. FALSE AACSB: Reflective Thinking AICPA BB: Industry AICPA FN: Decision Making Bloom's: RC Difficulty: Easy Learning Objective: 01-02 Explain four fundamental management processes that help organizations attain their goals. 2. Measuring the performance of managers and subunits is not an objective of managerial accounting. FALSE AACSB: Analytic AICPA BB: Critical Thinking AICPA FN: Research Bloom's: RC Difficulty: Easy Learning Objective: 01-03 List and describe five objectives of managerial accounting activity. 3. Middle-level managers would likely be considered internal users of accounting information rather than external users. TRUE AACSB: Reflective Thinking AICPA BB: Resource Management AICPA FN: Reporting Bloom's: RC Difficulty: Easy Learning Objective: 01-04 Explain the major differences between managerial and financial accounting. 4. A controller is normally involved with preparing financial statements. TRUE AACSB: Analytic AICPA BB: Resource Management AICPA FN: Reporting Bloom's: RC Difficulty: Medium Learning Objective: 01-06 Describe the roles of an organization's chief financial...
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...coordination, and extensive communication. Organic organizations are generally flat and decentralized, with little reliance on formal authority, which enables faster decision making. Mechanistic structures are primarily hierarchical, with an emphasis on specialization, and vertical communication. Mechanistic structures also place an emphasis on control by relying on rules, policies, and procedures in conducting operations. Mechanistic structures are highly formalized and centralized and as a result are more rigid and resistant to change. Determining which structure is best is dependent on the stage of development the organization and its industry are in. Firms in mature, stable environments may find greater success with the mechanistic structure while established firms in dynamic or turbulent environments may find greater success with the organic structure....
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