...Intersect Investments Transformational Leadership Problem Solution: Intersect Investments Since September 11, 2001, financial service organizations have struggled to maintain existing clientele and gain additional customers. Intersect Investment Services is no exception. The rapidly changing climate has left Intersect Financial Services, CEO Frank Jeffers with an immediate decision to transform the financial institution. Through the volatile climate changes Intersect has managed slightly to survive and has resisted change the last four years. Jeffers realizes he must make some dramatic changes if the organization is to regain its competitive status in the market place. In this paper the subject matter will identify the organization’s decision, goals, opportunities, alternatives, risks, and optimal solution. Situation Analysis Issue and Opportunity Identification The company’s CEO, Frank Jeffers has strong convictions that the company must move in a different direction by broadening its products and services to consumers. Jeffers plans to implement a customer intimacy model to provide more value, increase customer’s trust and enhance relationships. The sales and marketing executive team has an opportunity to embrace the vision that can increase profitability and the company’s clientele base. Team members, employees resistance to change, lack of stakeholders feedback, misaligned values, and beliefs among stakeholders are factors that could prevent...
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...Strategy: Create and Implement the best strategy for your business Written by Harvard Business School Press In Strategy: Create and Implement the best strategy for your business it breaks down strategy formulation process, which should not confused business model. Strategy is described as a plan that aims to give the organization a competitive advantage over rivals through differentiation, its about understanding what you do, what you want to become and focus on how you plan to get there. While having a well thought out strategy is a step in the right direction, you must properly execute it. Strategy cannot come into fruition unless there is proper implementation and continual reassessment to stay competitive or become competitive in the market. Implementation unlike strategy, which is market-oriented, has its roots in operations. This requires continuous managerial devotion at all levels. The steps described in the text is a guide to lay the groundwork for organizational strategic success in the market they are competing in. Chapters (Chapter 1-4) strategy formulation. Strategy formulation begins with the existence of organizational goal and setting a vision. Strategy analysis begins by formulating a SWOT analysis), this analysis allows companies to make strategic choices by looking at your organization internal (Strength/Weaknesses) and external (Opportunities/Threats) and. Internal analysis focuses on organizations strength and weakness, this consists of (core...
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...1. (TCO 1) A(n) _____ summarizes your current financial situation, analyzes your financial needs, and recommends a direction for your financial activities. (Points : 1) | insurance prospectus statement budget investment forecast financial plan | (TCO 1) The main goal of personal financial planning is: Saving and investing for future needs Reducing a person's tax liability Achieving personal economic satisfaction Spending to achieve financial objectives Saving, spending, and borrowing based on current needs (TCO 1) The ability to convert financial resources into usable cash with ease is referred to as: Bankruptcy. Liquidity. Investing. Saving. Opportunity cost (TCO 1) Brad Opper has a goal of "saving $50 a month for vacation." Brad's goal lacks: Measurable terms. A realistic perspective. Specific terms. The type of action to be taken. A time frame. (TCO 1) Opportunity cost refers to: money needed for major consumer purchases. what a person gives up by making a choice. the amount paid for taxes when a purchase is made. current interest rates. evaluating different alternatives for financial decisions. (TCO 1) If a person deposited $50 a month for 6 years earning 8 percent, this would involve what type of computation? simple interest future value of a single amount future value of a series of deposits present value of a single amount present value of a series of deposits (TCO 1) Which type of computation...
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...Shanice Armistad July 15, 2015 BUS/475 Professor Kosicki Business Model and Strategic Plan Part III Business Model and Strategic Plan Part III This paper will showcase how Disney creates and executes its new methods. The balances scorecard is used in order to breakdown different aspects of the company that have been assessed. This method is used by companies of every size, small or large. The balanced scorecard is created with the consideration of goals, profit, growth etc. Disney will be able to gather accurate data but there is the possibility that the data could be unclear. Efforts will be made to put together tactical goals according to the information utilized in the balances scorecard. Financial In order for Disney to continue to grow they will have to stay focused on being a good competitor and having a competitive strategy. This will allow the company to consistently grow and create new expansions within the company. Disney’s goal is to gain a 2.5% growth rate every other month with new clientele. This will be achieved by hiring and maintain a professional and educated staff of employees that will ensure the best experiences visiting Disney World. Disney plans to add more services to increase the Disney experience starting with personal meetings via web or in person. With this added service new customers will be able to create customized packages depending on their budget and what they would like to do while visiting Disney World. Disney is expecting this...
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...Financial planning Process • Step 1: Determine Your Current Financial Situation • In this first step of the financial planning process, you will determine your current financial situation with regard to income, savings, living expenses, and debts. Preparing a list of current asset and debt balances and amounts spent for various items gives you a foundation for financial planning activities. • Step 2: Develop Financial Goals • You should periodically analyze your financial values and goals. This involves identifying how you feel about money and why you feel that way. The purpose of this analysis is to differentiate your needs from your wants. • Specific financial goals are vital to financial planning. Others can suggest financial goals for you; however, you must decide which goals to pursue. Your financial goals can range from spending all of your current income to developing an extensive savings and investment program for your future financial security. • Step 3: Identify Alternative Courses of Action • Developing alternatives is crucial for making good decisions. Although many factors will influence the available alternatives, possible courses of action usually fall into these categories: • Continue the same course of action. • Expand the current situation. • Change the current situation. • Take a new course of action. • Not all of these categories will apply to every decision situation; however, they do represent possible courses...
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...professional implement that would help a company to be successful? In an effort for a company to be successful, business professionals should create and execute strategic planning models which outline specific results that are to be achieved and by establishing es a course of action for achieving them. In our current failing economy, business professionals are becoming more aware of the how challenges ing it is in to starting a business and remaining successful. While most would agree that failures are personally painful and could have been conceivably too often prevented, ??????? consensus dissolves around how to take action to the problem.?????? Some business owner’s may believe think that a successful business’ is based solely on luck; while other’s business owners believe may think that their success is based on the location. of their business. Although, both concepts could be attributed to success, in this report I provide a solution that could help business owners ????? transit ??? a business toward its success. In this paper, as a business professional for Take the Time and Time it Right Greetings Card Company, I argue in support of and focus on the importance of implementing a strategic plan for the success of this business. Several business owners might disagree with my argument, because they might feel that documenting a strategic plan can could be a time-consuming and costly process. This paper outlines the importance of documenting and implementing a strategic plan. Additionally...
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...What can a business professional implement that would help a company to be successful? In an effort for a company to be successful, business professionals should create and execute strategic planning models which outline specific results that are to be achieved and by establishing es a course of action for achieving them. In our current failing economy, business professionals are becoming more aware of the how challenging it is in to starting a business and remaining successful. While most would agree that failures are personally painful and could have been conceivably too often prevented, consensus dissolves around how to take action to the problem? Some businesses owners may believe think that a successful business’ is based solely on luck; while other’s business owners believe may think that their success is based on the location of their business. Although, both concepts could be attributed to success, in this report I provide a solution that could help business owners transit a business toward its success. In this paper, as a business professional for Right Greetings Card Company, I argue in support of and focus on the importance of implementing a strategic plan for the success of this business. Several business owners might disagree with my argument, because they might feel that documenting a strategic plan can could be a time-consuming and costly process. This paper outlines the importance of documenting and implementing a strategic plan. Additionally, this paper provides...
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...Competitive advantage. It is a superior performance relative to other competitors in the same industry or the industry average. Sustainable - competitive advantage. When a company is able to outperform its competitors or the industry average over a prolonged period of time. Competitive disadvantage Underperformance relative to other competitors in the same industry or the industry average. Competitive Parity Performance of two or more firms at the same level. The firm that possesses competitive advantage provides superior value to customers at a competitive price or acceptable value at a lower price. What is strategy? Strategy describes the goal – directed actions a firm intends to take in its quest to gain and sustain competitive advantage. Strategy is about creating superior value, while containing the cost to create it. Strategy is not a zero-sum game. It is not always the case that one party wins while all others lose. Win- win scenarios: when competitors cooperate, occasionally, with one another to achieve strategic objectives, we call this co-opetition. Strategic positioning is staking out a unique position in an industry that allows the firm to provide value to customers, while controlling costs. Strategy as a Theory of How to Compete. It provides managers with a roadmap to navigate the competitive territory. A firm´s strategy can be seen as its managers’ theory about how to gain and sustain competitive advantage. (A theory answers the questions, what causes what...
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...Syllabus Purpose Seminar/Constructive Action: Intra & Entrepreneurship/Business Planning Course Code: FLD 521 PCA Course Description Students create an intra or entrepreneurial plan for the development and growth of a beneficial and profitable venture incorporating the necessary marketing, financial, legal, organizational and administrative components. Course Objectives After completing the course, the student will be able to: 1. Apply acquired business skills (finance, accounting, marketing, management, negotiation, human relations, legal, and administrative) to create an intra or entrepreneurial business plan for the development and growth of a beneficial and profitable venture. 2. Improve on key business skills including writing, oral communications, goal-setting, and organizational leadership and planning. 3. Produce a business planning document that will enable you to successfully implement your Purpose III Constructive Action project. Course Relevance to CA The course introduces the students to business management: planning, organizing, staffing, directing, and controlling that are applicable to managing entrepreneurial or intrapreneurial ventures. This course prepares the students for real life business operations and teaches them practical application of theoretical learning. Course Prerequisite Purpose I Constructive Action Required Textbook: Stutely, R. (2007). The definitive business plan: the fast-track to intelligent business planning...
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...accountants support the strategic decisions, ways strategies can be implemented by management and strategy implementation steps that managers can take. As the Board of Directors you will be charged with interpretation of information provided by the accountants. As a board using the financial and managerial accountants’ reports and feedback will assist with the planning and execution of decision that will strategically allow all employees from management down to the front line to operate efficiently. The purpose of managerial accounting is to take historical information, such as financial statements, budgets and operations reports to create a plan focus inwardly within the company. Managerial accounting is a system of providing and measuring financial and operational information. The system is designed to motivate behaviors, guides managerial action, and support and create necessary cultural values needed to achieve an organization’s strategic objectives (Geense, 2005). Managerial accounting is comprised of 4 ideas that are the key to its definition. The ideas capture the purpose, scope, attributes and nature of managerial accounting. Cost and operational information, including some financial information define the scope. Reaching the key strategic objectives is managerial accounting's purpose. Managerial accounting by nature is a measurement process. The best managerial accounting information has three attributes its technical, behavioral and cultural (Ansari, Bell, Klammer...
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...Strategic Plan: Riordan Manufacturing MGT/498 October 2013 Riordan Manufacturing Strategic Plan Why is strategic management necessary? Strategic management, and business policies are essential for organizations to gain competitive advantage within their respective markets. Organizations like Riordan Manufacturing implement policies, and procedures to provide structure, and standardize operations in efforts to maintain proper control of production, inventory, and logistics. Developing a strategic plan focuses on the need for planning, roles of ethical and social responsibility, current competitive advantages, innovation, sustainability, internal dynamics, influence of business continuity, and assessment, and feedback. The following discussion details a strategic plan for Riordan Manufacturing. Topics include areas of environmental scanning, strategy formulation, strategy implementation, evaluation, and control. Riordan Manufacturing Effective Strategy Guidelines Riordan Manufacturing is focused on what really matters, the bottom-line performance and long-term healthy survival of its organization. Now that Riordan Manufacturing has implemented an effective competitive strategy it must evaluate and measure its performance. Measuring its performance is critical to the success of Riordan Manufacturing. By implementing an effective measurement guideline, it would help Riordan Manufacturing in tracking the progress against its goals and objectives; identify areas of improvement;...
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...Financial Accounting: • Communicates economic information to individuals and organizations that are external to the direct operations of the company • Stresses the form in which it is communicated • Is based on historical information It is about the balance sheet, the income statement, the financial statement of the company (the notes). The stakeholders (shareholders, clients, suppliers, the government, employees, etc.) are interested by the financial statements. Financial accounting is mainly developed for external users. What can we find in a balance sheet? What does it tell us? The past financial performance of the company. The income statement gives us an overview of the expenses and revenues of the companies, their use, and more generally, what is the wealth of the organization. Another aspect, when we prepare a balance sheet, an income statement, there are legal constraints, rules, general principles that have to be followed. Everything is strictly regulated, there are very strict rules. I.e.: the Generally Accepted Accounting Principles (GAAP): Belgian GAAP, etc. Management Accounting: Assumption: a CEO must decide whether or not he’ll produce a new product. Where will he find the required information (the price of the product, etc. and more generally, all the necessary information)? Are the financial statements helpful in this case? No, they don’t. Other example: are we going to outsource part of our production in another country...
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...Business today has evolved into a highly complex and competitive industry that requires and expects immediate action as well as results. The Global marketplace has expanded the business environment and stretched the operating parameters into new directions. Huge salaries, exponentially larger bonuses, and shareholder expectations have pushed corporate decision makers into murky waters when deciding which course of action to take. In an era of instant communication, public distrust, and a multitude of variables to consider before making a decision, leaders must have some form of guideline to help them make choices that reflect responsibility and accountability. The creation and implementation of an official corporate governance policy and internal practice will lead to these critical decisions being made with the good of the whole in mind. Corporate governance can be defined “as a relationship between a corporation and its shareholders” (Cross & Miller, 2012, p. 644). It is also a system of checks and balances between the board, management, and investors to create an efficient and functional business with long term viability and value ("Corporate Governance Best Practices," 2002, p. 8). The concept of adopting a formalized process should be fairly evident. Corporate scandals such as Enron and WorldCom devastated entire corporations as well as national and world financial crisis created by banking and mortgage industries. The government has stepped in and enacted legislation such...
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...Du’Quita Richardson April 12, 2013 Intro to Business. Period 1 Financial Planner: “Financial Planners” go over people's finances and financial goals, and then try to pick investment strategies, like annuities, life insurance policies, CD's, etc., to create options to help the client develop a portfolio that would help achieve their investment aims. Create a Sound Financial Plan:: Step 1 Establish Goals Step 2 Gather Data Step 3 Analyze & Evaluate Your Financial Status Step 4 Develop a Plan Step 5 Implement the Plan Step 6 Monitor the Plan & Make Necessary Adjustment Competitive Analysis: Competitor Analysis is an important part of the strategic planning process. This revision note outlines the main role of, and steps in, competitor analysis Why bother to analyze competitors? Some businesses think it is best to get on with their own plans and ignore the competition. Others become obsessed with tracking the actions of competitors (often using underhand or illegal methods). Many businesses are happy simply to track the competition, copying their moves and reacting to changes. Competitor analysis has several important roles in strategic planning: • To help management understand their competitive advantages/disadvantages relative to competitors • To generate understanding of competitors’ past, present (and most importantly) future strategies • To provide an informed basis to develop strategies to achieve competitive advantage in the future • To help...
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...Riordan Manufacturing Strategic Plan Why is strategic management necessary? Strategic management, and business policies are essential for organizations to gain competitive advantage within their respective markets. Organizations like Riordan Manufacturing implement policies, and procedures to provide structure, and standardize operations in efforts to maintain proper control of production, inventory, and logistics. Developing a strategic plan focuses on the need for planning, roles of ethical and social responsibility, current competitive advantages, innovation, sustainability, internal dynamics, influence of business continuity, and assessment, and feedback. The following discussion details a strategic plan for Riordan Manufacturing. Topics include areas of environmental scanning, strategy formulation, strategy implementation, evaluation, and control. Riordan Manufacturing Effective Strategy Guidelines Riordan Manufacturing is focused on what really matters, the bottom-line performance and long-term healthy survival of its organization. Now that Riordan Manufacturing has implemented an effective competitive strategy it must evaluate and measure its performance. Measuring its performance is critical to the success of Riordan Manufacturing. By implementing an effective measurement guideline, it would help Riordan Manufacturing in tracking the progress against its goals and objectives; identify areas of improvement; and ultimately compare performance against both its defined...
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