...flexible budgeting processes. There are advantages and disadvantages of each method of evaluation or projection of growth and it is recommended that the leadership of Competition Bikes, Inc, (CBI) consider all options presented to optimize future corporate growth. The CEO of Competition Bikes, Inc. requested a review of current budgetary information (“Year 8”) projection for the upcoming business year. Areas of analysis and management intervention have been reviewed based on data provided by CBI. Competition Bikes, Inc.’s “Year 9” budget (pro forma) has been based on financial information provided based on a current trend analysis from three previous years and focusing on “Year 8” financials. A master budget was created to plan and control revenues and costs for future growth and corporate development for “Year 9.” The benefit to CBI leadership in reviewing “Year 9” financial plans allows for decision-making on planning, coordination of operations, and benchmarking for an evaluation of actual performance at the end of “Year 9.” To review, a static budget does not change after it is developed, however, a flexible budget is one that summarizes revenues and costs from different volumes compared to similar ranges to like companies. Since a flexible budget is more complex and difficult to predict due to variances in costs compared to a fixed budget, it is necessary to answer questions when selling items with...
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...Subject- Report on decision concerning Rob Parson's promotion according to the performance evaluation. Herewith enclosed is a report on the decision to be taken whether to promote Rob Parson. The decision is based on the performance evaluation of Rob Parson and effects it would have on the organisation. I have addressed all the potential problems followed by the recommendation based on the evaluation of the options. The report is submitted for your consideration and necessary action. Regards, Andrew Felton, Management trainee. Executive Summary The internal environment at Morgan Stanley is one of teamwork, employee development, dignity and respect. Rob Parson's external performance has been noticeable. The rate at which he has been getting business for the firm is avid by the fact that his efforts were instrumental in helping this company reach from the 10th position to the 3rd position in the market. While his performance is comprehensive, he developed a hostile environment around him. Companies values have been violated to a greater extend by his behaviour in the present working environment. With this reputation which he holds and according to the performance evaluation carried out it is recommended not to promote him at this point of time. word...
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...course of action to be adopted by Video Inc. I hereby attach the recommendations after analysing present Video Inc.. finances and the course of action to be adopted for the business. The report presents a overview of current problems on Video Concepts, Inc.. The various option available in future have been analysed upon the basic objective of economics that is profit maximization. Based upon the current trend of revenues, it is recommended that you should accept the alternative of hiring someone to manage the business and find a job for yourself preferably in corporate. Video Concepts, Inc Summary Situation Analysis Video concepts is facing stiff competition from Blockbuster ahich has certain adavatages like Problem: Should Chad continue with the current business and if yes should he continue being the manager or hire someone else and find himself some other job Options • Raising price of overnight rental to $2.49 per night • Hiring someone to manage the business and find another job for himself • Sell the business Criteria • Return on time and capital • Future prospects of video rental business • Personal Satisfaction Evaluation of Options Option 1 Option 2 Option 3 Recommendations Word Counts: 350 Table of Content SITUATION ANALYSIS | 2 | THE PROBLEM STATEMENT | 5 | OPTIONS | 5 | CRITERIA FOR EVALUATION | 6 | EVALUATION OF OPTIONS | 7 | RECOMMENDATIONS | 9 | ACTION PLAN |...
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...Advertising Research? How do we create an advertising campaign? 1. creative strategy: a statement or concept of what a particular message or campaign will say – a big idea Absolute Vodka MasterCard “there are some things in life money can’t buy” 2. advertising appeal and selling proposition 3. creative execution: art direction and copy Why Advertising Research? Advertising research contributes throughout entire advertising planning process Short history of advertising research 1960’s vs. today 3 4 Process of Research Contribution The Market Successful advertising planning builds on research-driven analysis of the marketplace Current and potential future trends Forces shaping the marketplace How market forces affect own and competitive brands and advertising 5 6 1 8/28/2012 The Consumer Effective advertising based on thorough understanding of Forrester Segmentation: Involvement With Social Technologies target audience Three dimensions of target audience analysis: Consumer trends How consumers interact with brand/product/service Relationship between consumers and brand/product/service 7 8 Creative: development and evaluation Research helps throughout creative development Identify strongest essential message Identify strengths and weaknesses of alternative approaches Select most powerful approaches for placement in media (the Research Contributions: Media Research helps answer...
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...ANSWER TO QUESTIONS: 1. How would a consumer’s level of involvement, need for cognition, and level of information search affect the purchase of a new car? THEORY: The consumer buying decision process is a five-stage purchase decision process which includes problem recognition, information search, evaluation of alternatives, purchase, and post-purchase evaluation. The problem recognition occurs when a buyer becomes aware of a difference between a desired state and an actual condition.After the consumer becomes aware of the problem or need, he or she searches for information about products that will help resolve the problem or satisfy the need. Repetition, a technique well known to advertisers, increases consumers’ learning. Repetition eventually may cause wear-out, meaning consumers pay less attention to the commercial and respond to it lessfavourably than they did at first. A successful information search within a product category yields a consideration set (aka evoked set), which is a group of brands that the buyer views as possible alternatives.Purchase selection is based on the outcome of the evaluation stage and other dimensions.After purchase, the buyer begins to evaluate the product to ascertain if the actual performance meets expected levels. Cognitive dissonance is a buyer’s doubts that arise shortly after a purchase about whether it was the right decision. REALISTIC: During the daily using a car or a public transportation, he will realize if he need to buy a new...
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...------------------------------------------------- ASSIGNMENT ------------------------------------------------- ------------------------------------------------- SUBJECT STRATEGIC MANAGEMENT ------------------------------------------------- ------------------------------------------------- TOPIC THE NATURE OF STRATEGIC MANAGEMENT ------------------------------------------------- ------------------------------------------------- SUBMITTED TO MR. SAJJAD UL AZIZ ------------------------------------------------- ------------------------------------------------- SUBMITTED BY ANEEZA JAMIL ------------------------------------------------- ROLL NO. # 13 ------------------------------------------------- M.PHIL (Semester 2) ------------------------------------------------- ------------------------------------------------- ------------------------------------------------- ------------------------------------------------- MINHAJ UNIVERSITY LAHORE ------------------------------------------------- STRATEGIC MANAGEMENT DEFINATION: “Strategic management can be defined as the art and science of formulating, implementing, and evaluating cross-functional decisions that enable an organization to achieve its objectives”. As the definition implies, strategic management focuses on integrating management, marketing, finance/accounting, production/operation, research and development, information...
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...Table of Contents Executive Summary Part 1 Executive Summary Issues Identification Part 2 Issues Identification Environmental & Root Cause Analysis Part 3 Environmental & Root Cause Analysis Alternatives and/or Options Part 4 Alternatives Recommendation Part 5 Recommendations Implementation Part 6 Implementation Plan Monitor & Control Part 7 Monitor and Control Part 8 Conclusion Part 1 Executive Summary Navistar was a worldwide leader in the manufacturing medium and heavy trucks for 17 consecutive years in the North America market. Navistar’s premium conventional trucks were produced at the Chatham assembly plant, which had almost 14 years experience in producing Navistar’s premium line since 1983. Navistar had forecasted increased industry demand for heavy and medium trucks in 1998. Especially, the Chatham assembly plant’s customers had strict requirements to the truck’s quality and delivery date. As the assembly supervisor in Chatham, Andy Ramsz encountered the interior trim quality and delivery problem for the truck. Andy had begun to gather data on the interior trim supply problem and he got the crucial reasons for these problems occurred. These reasons absolutely affected the Navistar’s internal supply process, increased the extra cost as well as reduced the efficiency of the supply management. According to the reasons identified for the trim supply problem, my decision is to set up the improved procedure focused on problems identified...
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...Your consideration on the report is greatly appreciated. Sincerely, Ilene Carter, Manager, Audio Products Section, Specialty Appliance Department, Technotronics, Inc. Executive Summary There is a difference of opinion regarding the production and selling operation of the new magnetic material ‘X-27’ between the Audio Products Section and the Magnetic Material Section of Technotronics. This report deals with the interdepartmental relations between the two departments and also deals with the interpersonal relations between the managers of both the sections, Audio Products Section and the Magnetic Material Section. It reflects the individual behavior towards the organization keeping in mind the vertical integration. It is recommended that the production and selling should remain with Audio Products Section for a period of 18 months as it will help the section to recover its development cost and also support the spirit of innovation in Technotronics. Table of Content Sr. No. | Particulars | Page No. | 1 | Situation Analysis | 5 | 2 | Problem Statement | 6 | 3 | Options Available | 6 | 4 | Criteria for Evaluation | 6 | 5 | Evaluation of Options | 7 | 6 | Recommendation | 9 | 7 | Action Plan...
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...Transmittal 21st August, 1961 From Diya Vice President, Sands Corporation To President, Sands Corporation Subject – Decision report after evaluating the options available for setting up a new plant either at Kimberly Street or Hampton. Sir Please find enclosed a detailed report on the current situation in the Sands corporation along with the report analyses, the current situation, the options available, the criteria for evaluation, recommendation and the action plan. It is recommended to set up the plant at the Kimberly street by the Sands corporation. Regards Divya U Executive Summary Located in the Clairmont, a large and a highly industrialized city, Sands Corporation is a aircraft, automotive and agricultural equipment manufacturing company operating with three plants. Due to an increase in government contracts there is a need for setting up a new plant, as there is no space and labor available in the existing plants. The two options available with the company for setting up the new plant are Kimberly Street and Hampton. The evaluation...
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...dismissed her in august, 2005. Since 18 months, sales were not improved and at the same time, interior design business became more competitive. With the stress of business, Rapini affected with heart attack in July 8, 2006 and doctors advised him to change his life style. Problem statement is Rapini is thinking about whether to choose best alternative ways available to continue his business or to consider doctor’s advice. Available options were selling the business, convert to home-based operation, move the business to cottage country and hire professional help. Based on the criteria of health, future financial stability for his family, future growth of business, my recommendation is to hire the professional which satisfies all the criteria. 2 TABLE OF CONTENTS: Situation Analysis………………………………………………………………... Statement of the problem………………………………………………………… The Options……………………………………………………………………… Criteria for evaluation……………………………………………………………. Evaluation of Options……………………………………………………………. The recommendation…………………………………………………………….. Action plan……………………………………………………………………….. Exhibit-1………………………………………………………………………. 3 Situation analysis: Rocco Rapini who had an experience as an installer and...
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...practices of the project management Life Cycle (PMLC)? PMLC Step | Actions by FastFit’s Project Team | Commitment | The conversation with the customer---action period | Analysis | Through the big data and summarize the solution---plan phase | Design | In the planning stage to organized the big picture of the company | Infrastructure | The basic work place and papered phase of a company | Development | After a stable operation to make a development | Certification | The last step before put a product into the market. Let the related organization to certify the quality of the product. | Launch | Put the product into a market and ready for the selling people and choose the method of selling | Release | begin raising money | Sunsetting | Into the end process and summarize the product performance in target market | Post-Project Assessment | Analysis the reflection of this product | 3. What risks did FastFit face in launching this project and how were these risks mitigated? If they did not address a particular risk sufficiently, what else would you do? Risk | Its Mitigation | hosting company risk | investigation and evaluation | High competitive | Find the way to rise the market value | Inventory management | Own a wonderful warehouse | Website design | Get a professional person to help the designing process | Comparative advantages | Because the online selling become every popular, if a company can took more...
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...how he should explain his perspective to McDonald. In order to salvage his professional carrier, Green could either compromise by changing his work style and working in conformity with Davis’ requirements or escalate to McDonald the problems and concerns faced by him and prove his point with credible data. We recommend that Green should choose to compromise as he was appointed as senior market specialist despite being less experienced. He was also under heavy financial burden. In order to become a successful manager, he should learn to deal with this kind of situations in his professional life. Contents 1. SITUATION ANALYSIS 5 2. PROBLEM STATEMENT 6 3. OPTIONS 6 4. Criteria for Evaluation 6 5. Evaluation of Options 6 6. Recommendation 7 7. ACTION PLAN 7 8. Contingency plan 8 1. SITUATION ANALYSIS Thomas Green, a 28 year old account executive at Dynamic Displays, was promoted to the position of Senior Market...
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...Career Development Plan Part II - Development of Training and Mentoring Program HRM 531 October 6, 2010 Career Development Plan Part II - Development of Training and Mentoring Program InterClean has completed the staff selection process and the new sales team has been announced. The next step in moving toward the projected goals as outlined by the strategic plan is training of the selected employees. The concept associated with training is training will improve performance. This improvement will be evident in the actions of the selected employees. Trained employees will display learned changes in knowledge, skills, attitudes, and social behavior (Cascio, 2005). InterClean has accessed the training needs of the outside sales representatives and has outlined a comprehensive training and development plan that each employee in the sales department will be required to complete. Training and Mentoring Needs In order for this to be a successful proper training and mentoring must be given to the new sales team. When adjusting to a new company, employees must be willing to behave in a new way. Training will provide necessary but innovative ideas for employees. Training consists of planned programs designed to improve performance of the individual, group, and organizational levels (Cascio, 2005). A new training plan is essential after the transition to allow the employees to operate as a team. Training will allow the formation of new relationships among employees, and these...
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...Case of the Pro-Sales Agent Program Webster University Abstract Pro-Audio is a manufacturer of electronic sound processing equipment. Its leading product was an advanced digital reverb unit called PSX-360, which retails for about $12,000. It was sold primarily to major recording studios and professional musicians throughout the country though an exclusive network of approximately 50 leading professional audio retailers. Pro-Audio created the Pro-Sales Agent Program to stem the tide of discounting that seemed to be harming the overall studio equipment industry. Unfortunately, concerns have risen that include: 1) Slow sales growth, 2) retailers’ finding ways to circumvent the fixed pricing clause, and 3) is administratively cumbersome and deters the retailers’ ability to sell and deliver the product. My paper will address these concerns and provide executive leadership with options to resolve these concerns. Keywords: branding, breakeven analysis, cross-functional teams, discounting, premium price, willingness to pay. Pro-Audio Sales Agent Program The Pro-Sales Agent Program (PSAP) was created in an effort to curtail the tide of discounting that seemed to be harming the overall studio equipment industry. Certain adverse conditions included: 1) An increasing dependence on orders from two of PSX’s largest dealers. One dealer was in Los Angeles and the other in New York, and by April, these two dealers accounted for 70% of the company’s total sales of...
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...J. of the Acad. Mark. Sci. (2014) 42:361–379 DOI 10.1007/s11747-013-0364-3 ORIGINAL EMPIRICAL RESEARCH When do incentives work in channels of distribution? David I. Gilliland & Stephen K. Kim Received: 31 December 2012 / Accepted: 1 November 2013 / Published online: 7 December 2013 # Academy of Marketing Science 2013 D. I. Gilliland Aston University, Birmingham, UK B47ET incentive offers because monetary rewards offset the agent’s risk and unpredictability of its income stream (Jensen and Meckling 1976). Despite general support for this logic, researchers have been puzzled by a substantive dilemma: Incentives often do not work. Benabou and Tirole (2003); Bouillon et al. (2006), and others have found that agents do not always respond positively as incentives increase. Other findings indicate that monetary incentives are sometimes demotivational (Ryan and Deci 2000), lead to dysfunctional activities by rewarding the wrong behavior (Baker 2002; Oyer 1998), are an inefficient control mechanism (Akerlof and Kranton 2005), promote shirking rather than compliance (Gibbons 1998), and are unpredictable under turbulent industry conditions (Prendergast 1999). The idea that incentives often do not work has been substantiated in the practitioner literature as well. Kesmodel (2008) reports in the Wall Street Journal that even dominant firms find it difficult to structure effective incentive portfolios with the resellers of their products. These and other findings...
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