...Breakthrough begins with You! Damon Walton Breakthrough begins with You! Introduction Your next breakthrough begins with you! This book is about effecting a radical change in your life. Is about getting out the rut of the day to day life to go to the next level. I was one of the millions of people who needed a change in one's life. This book about providing a radical change in every aspect of life one has from the professional to the personal. What prompted me to write this book was based on life experiences I had with breakthroughs. I like most people, have a life where it consist of barriers and breakthroughs. I will talk about the common barriers we all face and how to break through them to achieve success in our daily lives. Some of you are wondering how I can help you and why me. To answer your first question, is to read the book. Read the following chapters with an open mind and don't pass judgment. The answer to the second question is that I applied the same advice to my life. Am I a celebrity, famous author, or a self-help guru? No, I am not but I am an ordinary person who effected change in my life through some radical yet common-sense principles. I am not writing this book to become a millionaire or to be famous in my right but effect change in our daily lives. We tend to listen to those who share a common background. Hopefully, my message will resonate with those who are looking for a breakthrough in their daily lives. We all are yearning...
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...A systematic way for designing breakthrough products or services includes two main steps. These two lead to considering of meaning first and technology second. This innovative method of creating a step forward product is clearly different from the common ones. It is so because such companies look for the original approaches not by analyzing the habits of consumers but by interpreting other very meaningful sources. They are called the interpreters. This concept includes people who can help for the companies to perceive the situation from the different perspectives. For example, the interpreters could be designers, psychologists, architects and many other experts who have explored the field. These people are very valuable for the company in order to create the new meaning of the product which attracts the customers more than the old one. In that way, consumers get a product which is above their expectations. Especially this ability to astonish the customers ensures the success for the company in the huge rivalry. However, often it is a complicated task to find the right interpreters. It is so because the companies need to look at the problem from the different angles and perceive it unusually. So it is essential to analyze the whole user’s experience. It means that not only the product is important but also its presentation or environment around it. The companies have to understand that there are a lot of factors which impact the customers’ decision. After this analysis the companies...
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...disruption, you just do not have the forecasting models that can predict proper price points. 2. Identify at least two strategies that you used in addressing the challenge described above. Identify one strategy that worked and one strategy that did not work. To finally get a handle on profits/ losses/ etc., I initially raised the price of the ultra-capacitor to minimize the losses and to set a price-point different from the default set by the model in 2012. This allowed me to devote a minimum of 3 million per year in process improvements for price reductions of $0.50 per year. The remaining funds went to energy density research until the breakthrough. I then shifted money to self-discharge for ultra-capacitors as that was the second desire from customers. No money went to NiMH until self-discharge for ultra-capacitors had breakthrough and then I shifted money to process improvements for NiMH so as to keep prices low and milk the rest of that market. 3. Based on what you experienced in this simulation as well as what we have covered in class, identify at least one specific piece of advice would you give to an innovative CEO. Your response should be clearly related to the readings and any readings referred to should be cited. My biggest piece of advice is to forecast five and ten years out in order to identify the needs of the customer and potential disruptors. Find unresolved problems from the customer’s stand-point and resolve them without overshooting. Use “associational...
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...disruption, you just do not have the forecasting models that can predict proper price points. 2. Identify at least two strategies that you used in addressing the challenge described above. Identify one strategy that worked and one strategy that did not work. To finally get a handle on profits/ losses/ etc., I initially raised the price of the ultra-capacitor to minimize the losses and to set a price-point different from the default set by the model in 2012. This allowed me to devote a minimum of 3 million per year in process improvements for price reductions of $0.50 per year. The remaining funds went to energy density research until the breakthrough. I then shifted money to self-discharge for ultra-capacitors as that was the second desire from customers. No money went to NiMH until self-discharge for ultra-capacitors had breakthrough and then I shifted money to process improvements for NiMH so as to keep prices low and milk the rest of that market. 3. Based on what you experienced in this simulation as well as what we have covered in class, identify at least one specific piece of advice would you give to an innovative CEO. Your response should be clearly related to the readings and any readings referred to should be cited. My biggest piece of advice is to forecast five and ten years out in order to identify the needs of the customer and potential disruptors. Find unresolved problems from the customer’s stand- point and resolve them without overshooting...
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...The Four Types of Financial Statements Aaron Ellyson University of Phoenix The Four Types of Financial Statements In today’s business environment an employee’s ability to read, follow, and interpret financial statements is an integral part in ensuring a business is properly positioned to succeed and operate profitably. Understanding what the numbers represent, how business decisions influence those numbers, and what categories comprise the data shown on these statements will enable employees to help drive their companies with cost conscience motives and personal responsibility for their actions. The four basic financial statements are as follows: income statements, retained earnings statements, balance sheets, and statements of cash flow. These reports allow the user to get an in depth analysis of how mindful a business’s employees are with decisions and the direction of how successful or unsuccessful a company will be. An income statement provides insight into the successes and areas of opportunity a business has over a specified period. This report provides a breakdown of the earnings and expenses related to the business’s operations during that period. Any expenses incurred during this period are deducted from the revenues and net gains or losses are totaled. Retained earnings statements are interrelated to an income statement because they cover the same specified period. The information covered in this report provides an explanation of what earnings have been generated...
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...for the prediction of financial performance beyond a time horizon of three to four years and should not be solely relied upon for this prediction. As the topic bond article suggested, and as the general consensus of the class suggests, I would agree that more information is required to make performance predictions with any confidence, as environmental events that are not taken into account with financial ratios may neutralize any confidence in predictions out past three or four years. The Authors of the article “Financial Ratios: The Prediction of Corporate ‘Success’ and Failure” (Houghton et al.) have found that an accuracy percentage significantly greater than chance was demonstrated with using financial ratios of the last five years to predict failure of an organization in the next year, however did not find similar accuracies in predicting financial success (increased EPS) in the next year. This was found true in all three groups tested of varying financial backgrounds. The authors attribute this to limitations in environmental predictability and human information processing, as suggested in Brunswick’s Simple Lens model Other issues that may affect the accuracy of predictions based on stand alone financial ratios are the industries in which the organization operates, as the nature of these industries may drive different preferred ratio values, Technological breakthroughs that may change market demand, and as Bryon Mcquinn cited from “Financial and Managerial Accounting...
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...• Different personality from J. Welch - Easygoing, friendly, natural charisma (lead by example) cf. Jack Welch :Brash, Impetuous, abrasive, feisty (dictatorship) Jeff, breakthrough in the CEO Factory? CEO Process Implementation Long Term Planning CEO Candidacy Programme for an emergency, 1994 CEO Candidates 24 survived Management Development and Compensation Committee Appraisal on Personality and ability(1-2 yrs) 8 Board members collective interviews Management Ability Test (3-4 yrs) Job rotation in divisions - One of final three candidates - designate backup Decision Merit (TO/Profits) check and CEO interview - young, expansive thinking Time consumed 6 years 5 months 1. Tracing Young Turks - Scanning high - potential cases 2. Global Mgt Capability - Leadership, Strategy - Human Resource 3. Crisis Capability - Adversity - Venture, New Area 4. CEO Candidate - CEO School - Competency 5. CEO Cultivation Team - Professional Support - Mentor by J. Welch Immelt’s Narratives • Repositioning the portfolio and diversification – From a process oriented company to creativity and fundamentals – Emphasizes organic growth rather than deals, divesture (Necessity after Welch’s era) • Innovation Management – “Imagination Breakthroughs” for sustainable growth • New Ethical policy (Core Value) and its connection to personnel - 8 Values and 4 Actions (‘Integrity’) • Changing the culture – Outsiders to high...
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...Sarbanes, Maryland Democrat, and U.S. Representative Michael G. Oxley, Ohio Republican. As a result of SOX, top management must now individually certify the accuracy of financial information. In addition, penalties for fraudulent financial activity are much more severe. Also, SOX increased the independence of the outside auditors who review the accuracy of corporate financial statements, and increased the oversight role of boards of directors.1 The first order of business is to ensure that the composition of the Executive board members is in full compliance with SOX. Michelle, Gene One Chief Financial Officer, has to ensure that the accounting reports also need to be in full compliance with SOX. She has to develop a realistic timeline required to ensure the financial disclosures of Gene One will replicate the purpose of SOX as described in Newsweek by “improving the confidence of fund managers and other investors with regard to the veracity of corporate financial statements.”2 These audits take time and are very public matters, so as an immediate action, an internal audit should be done to identify shortcomings. Once these items are identified and corrected, the external audit should be conducted by an independent auditor. Those reports will be communal information and will assure the public of our financial stability. That...
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...outsourcing solutions to small and medium sized businesses in the U.S. It also has a subsidiary in Germany, even though it generates less than 1% of Paychex total revenue. The Service Revenue mainly comprises of Payroll and Human Resource portfolios of the services and products they provide. Payroll service revenue serves as the Backbone for Paychex. Paychex revenues exceed $2.3 billion in fiscal 2013, mainly included payroll processing, payroll tax administration services, employee payment services and other ancillary service. With headquarters in Rochester, New York, the company has more than 100 offices serving approximately 570,000 payroll clients as of May 31, 2013. 2. Would you still consider them a breakthrough company? Why or why not? In my point of view, it still a breakthrough company. It has a strong outlook for the revenue generated from Payroll services, and and implemented new technologies like implementation of ‘MMS’, which has shown growth in its software as a solution. In the other hand, Paychex also has expanded Insurance offerings – including workers compensation and health benefits. Its clients in this segment have increased over 100,000 and the service revenue has risen by 49%, and expected strong future expectations from it. With over 11$ billion as assets and 51,000 clients, Paychex continues to be a leader in 401(k) recordkeeping. Paychex HR Solutions now serves 502,000 client employees, more than our next three competitors combined. And in recent years, Paychex...
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...RMB Business in Hong Kong Financial Services and the Treasury Bureau 22 November 2010 1 RMB business in Hong Kong • 2004: Banks offer renminbi services including deposit taking, currency exchange, remittance, debit and credit cards, personal cheques • 2007: Mainland financial institutions may issue RMB bonds in Hong Kong • 2009: Trade settlement and finance 2 Latest developments • 11 Feb: Elucidation of supervisory principles by HKMA • 22 Jun: Expansion of the RMB trade settlement scheme • 19 Jul: Revised Clearing Agreement on RMB business • 17 Aug: Pilot scheme for eligible institutions outside the Mainland to invest in the Mainland’s interbank bond market 3 Expand RMB trade settlement scheme • Expanded RMB trade settlement scheme to cover 20 provinces and cities • Their trade transactions with any part of the world can be settled in RMB • Enterprises in the relevant Mainland provinces and cities can settle merchandise imports, service trades and other current account transactions in RMB • List of eligible enterprises on the Mainland that can settle merchandise exports in RMB expanded 4 Revised Clearing Agreement • Banks can open RMB accounts for companies and organisations, including financial institutions • Removed restrictions on RMB interbank transfers between personal accounts and corporate accounts • Banks can convert RMB for corporate customers for purposes other than for trade settlement, given that they do not square the corresponding...
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...employs about 8000 employees worldwide and estimated revenue for 2010 is US $ 19.9 billion (Acer, 2011). The roots of Acer Inc. were planted in the year 1976 and today Acer became one of the world’s prominent PCS & Notebook providers. In the year 2009, Acer ranked 2nd worldwide in total PC shipment and also ranked 2nd in notebook market for over third year (Acer annual report, 2009). Acer is emerging as strong IT products provider company while most of its business relies on European market (Datamonitor, 2010). Recently Acer announced its ICONIA series of tablets including dual screen laptop come tablet with navigation jog which is a breakthrough product line any company has offered yet (Acer, 2011) and also introduced world’s first dual sim supported smartphone equipped with snapdragon processor (Datamonitor, 2010). The financial analysis of Acer Inc. tells us about the economic condition of the company in the market. Ratios 2006 2007 2008 2009 2010 Ability to Payoff Debt Current ratio(%) 1.46 1.34 1.24 1.29 1.38 Quick Ratio(%) 1.22 1.08 0.97 0.997 1.1237 Gross Profit 10.8 10.2 10.4 10.1 10.2 Operating Profit Ratio 2.1 2.2 2.5 2.6 2.8 Ability to Operate Inventory turnover (times) 12.01 13.6 13.6 10.07 13.6 Earning Ability Return on assets(%) 5.2 5.09 4.42 3.37 5.08 Return on equity(%) 13.5 16.7 14.1 12.2 16.06 Return on Capital Employed 9.5 10.1 14.5 13.79 15.43 Net Profit ratio (%) 2.91 2.8 2.15 1.98 2.4 Leverage...
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...testers and test software for printed circuit boards; No. 2 in semiconductors test and operation Other products include a system to test electronic products in the field; cads , models and simulations. STC is located in Minneaapolis, Minnesota with sales, service, network , offices and representatives across the US , North and South America, Europe, Africa, Asia and Australia. PROBLEM STATEMENT Was the company well-positioned to finance the rapid sales growth that was anticipated? WHERE IS STC NOW? The growth of the worldwide ATE market was tremendous between 1978 and 1984. The rapid growth of 28% per year was spurred by the rapid growth of electronic products, powered in part by technological breakthroughs in computers and miniaturization. GOAL OF THE COMPANY To be the recognized international leader in providing integrated quality management systems to manufacturers of electronic devices and equipment. SWOT ANALYSIS: Strengths • Extensive software • Right products and reliability • Excellent credit rating • Dominant share of the printed circuit board test market Weakness • Forecasting problem • Losing in competition CORPORATE STRATEGIES: Sharing Resources: • Economies of Scope – STC has diversified in different types of ATEs • Transferring Competencies – STC used their knowledge and experience in producing ATEs into producing other peripherals, software and models that would contribute to the sales of the...
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...August 20, 2010 Charlottesville, Virginia, USA. Today, M•ICP, Mongolia and M-CAM, USA entered into an agreement which will offer M•CAM’s financial and innovation infrastructure products to public and private sector entities in Mongolia and Central Asia. The combined entity will work to expand intangible asset finance and national development strategy in a way that brings lasting value to the Mongolian economy, sustainable development of Mongolia in particular. Bringing M•CAM’s innovative suite of financial solutions, including new strategies using trade credit offsets, to the Mongolian market has the potential to accelerate the market engagement strategies of this culturally rich, resource endowed Mongolia. The M-ICP (www.m-icp.com) is a newly established company in Mongolia which provides ethical, innovative business, finance, and policy advisory services to businesses, communities, government and other development stakeholders. A core mission of M-ICP is the promotion and support of global innovation and technologies, innovative financing, global innovation commons and heritable innovation knowledge in a breakthrough ways. The M-ICP founded by four Mongolian professionals and Ms. Nergui Dorj is a Founding Chief Executive Director. She is an economist, banking and finance specialist and development practitioner - graduate of Moscow Financial Academy, Australian National University and University of Wollongong, Australia. Ms. Nergui Dorj had been an active player in Mongolia’s...
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...Introduction: This essay mainly focuses on the relationship between the change of customers’ attitudes towards and expectations and financial services sector’s respond. A review of the theoretical background of business external environment and contextual environment is represented as well to give a theoretical framework. This essay consists of three major parts. The first part refers to the competitiveness of the financial services sector and the importance of organisations recognizing the influences of the external environment and how the developments in these influences can have a substantial impact on organisational success. The second part gives the theoretical framework of business external environment and contextual environment, and especially concentrates on the influence of the social environment on customer attitudes and expectations. In addition, it reveals customers and financial services sector are not isolate parts to each other, whereas they are in a two-way interaction process. The third part provides an example in particular to illustrate the ways in which organisations have recognised changes and how to respond in terms of products and services in order to achieve customer satisfaction and maintain their competitive position. With the development of economic globalization, the number and cooperation of countries’ financial organizations are getting larger and closer, so the competition is increasingly fierce. Competition here includes not only the firms that...
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...& Co., An analyst from the start, 34-year-old became the president of this bank. In 1997, he started a technology stocks investment company, which was called Galleon Group in New York. In 2009, Rajaratnam's net worth to $ 1.3 billion by Forbes global rich list among the first 559. When Galleon was established in NY, Rajaratnam said: "This is Raj Rajaratnam, only the paranoid survived." Unfortunately, this time his "paranoid" gets too far. Rajaratnam's case is the largest in the history of Wall Street hedge fund insider trading case at that time, but also the first use of the Federal Investigation Agency monitor means to obtain evidence relating to insider trading. Rajaratnam's arrest on behalf of the US government efforts to combat financial crime has entered a new phase. In this case, there are two ethic issues that can be discussed. The first is a white-collar crime; insider trading is one of them. The second is the wiretap recording, whether it is legitimate, if it is, what impact it will bring to business competition. 3.2 Theory Insider trading is a kind of white-collar crime. Definition of insider trading which is the buying or selling of a security by someone who has access to material, nonpublic information about the security. Insider trading can be illegal or legal depending on when the insider makes the trade: it is illegal when the material information...
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