...FIT FOOD – Summary of the author’s sample response 1. WHAT WENT WRONG? DID THE COMPANY SET ITSELF UP TO HAVE PROBLEMS? Factors that created an environment that encourages negative behavior: unreasonable pressures for performance – combined with… a lucrative incentive program and a “no excuses” management style Division managers were motivated to take steps to boost performance in the short run at the expense of the long run. OTHERWISE KNOWN AS “operating myopia” Examples of earnings management or gamesmanship: Drink Division 1. 2007: Shipping moratorium, build-up of reserves, and the prepayment of some discretionary expenses. o Aggressive accounting or fraud? o Fraud legally defined as willful manipulation with the intent to deceive o Are shareholders deceived because of these actions? 2. 2008: Early-order program, reduction of reserves. o Early order program not uncommon – can represent legitimate sales using volume discounts and extended credit term o Using reserves to manage earnings – not uncommon o Eventually develop a noticeable pattern and results in negative comments from financial analysts and potential negative impact on share price 3. 2009: Re-build-up of reserves. o Question external audit procedures – not clear what justification was used to convince the auditors that the changes were justified Cookie Division 1. 2008: Early-order program, shipping around the clock at the end of a quarter, ship unordered products, fraudulent orders with subsequent...
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...FIT FOOD – Summary of the author’s sample response 1. WHAT WENT WRONG? DID THE COMPANY SET ITSELF UP TO HAVE PROBLEMS? Factors that created an environment that encourages negative behavior: unreasonable pressures for performance – combined with… a lucrative incentive program and a “no excuses” management style Division managers were motivated to take steps to boost performance in the short run at the expense of the long run. OTHERWISE KNOWN AS “operating myopia” Examples of earnings management or gamesmanship: Drink Division 1. 2007: Shipping moratorium, build-up of reserves, and the prepayment of some discretionary expenses. o Aggressive accounting or fraud? o Fraud legally defined as willful manipulation with the intent to deceive o Are shareholders deceived because of these actions? 2. 2008: Early-order program, reduction of reserves. o Early order program not uncommon – can represent legitimate sales using volume discounts and extended credit term o Using reserves to manage earnings – not uncommon o Eventually develop a noticeable pattern and results in negative comments from financial analysts and potential negative impact on share price 3. 2009: Re-build-up of reserves. o Question external audit procedures – not clear what justification was used to convince the auditors that the changes were justified Cookie Division 1. 2008: Early-order program, shipping around the clock at the end of a quarter, ship unordered products...
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...1.0 INTRODUCTION In this assignment of Student in Enterprise Programme (SIEP), I have choose one company based on criteria that have been stated in guidelines to conduct a training for 10 days in order to complete the task given in this assignment. After much consideration, I has choose a company named Honda Malaysia Sdn. Bhd (Private Limited Company) which a partnership company between Honda Motor Co. Ltd. of Japan, DRB-HICOM Berhad and Oriental Holdings Berhad. This company origin is from Japan. Private Limited company describe as a company that offers limited liability, or legal protection for its shareholders but that places certain restrictions on its ownership. These restrictions are defined in the company's by laws or regulations and are meant to prevent any hostile takeover attempt. As a first step for UMK students, the Faculty Entrepreneurship and Business have created a subject called Student in Enterprise Programmed (SIEP) where all students University Malaysia Kelantan business faculty must enroll in the subject. SIEP is an exceptional project to be carried out by the students for 10 days. Students can choose any company to do business and work there to gain experience in business and how to run a business. SIEP is the early exposure of students to the business world. Through this project, students can gain experience and have greater knowledge concerning the world of business. I personally gained many benefits through this assignment and get to know more...
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...A STUDY OF FACTORS INFLUENCING TOURISM INTRODUTCION: Tourism faces a challenging change in its framework conditions: The geopolitical as well as the economic situation require new strategies. Technological innovations, demographic change and a powerful costumer have to be met in politics, marketing and planning. New destinations, new products with prices on a level, which would have been incredible some years ago, compete with the established tourism offer. There are a number of factors affecting tourism. They are: Economic Factors * Cost of certain vacations can act as a travel barrier * Economic prosperity can encourage people to take more trips * Good economic time, people have more discretionary income – money left over after paying taxes & basic living expenses Technological Factors * Methods of transport have become faster & more fuel efficient = more cost efficient – cheaper for people to travel * The more tourist facilities (infrastructure) a country has, the greater a success it achieves as a tourist destination * Developments in information technologies have also had a great impact. Example: internet – people are aware of more travel options and can book trips instantly. Political Factors * Tourists avoid areas of political unrest * If a region is politically stable it can influence the #’s of visitors * Reports of terrorism or high crime rates can keep people away Demographic Factors * Demography...
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...ugfgfhhjjkk hlklgfgfCreative Toys Case Creative Toys Inc. 1. If Inventory were to be written down in the 4th quarter instead of the 2nd quarter, it could cause the company to be compromised. One of the reasons that the allowance occurs in the 2nd quarter is because Browne realizes that it will make expenses appear too high, but, it will reduce the impact of the lack of future sales. However, if inventory were established in the 4th quarter, where they are expected to increase quite a bit, the transition would be easier. This is the reasoning behind Gurchick’s insistence of waiting for the 4th quarter. On the down side, if sales do not increase as expected, the company would be in substantial trouble. They will have a great deal of over stated income, which will be caught by auditors. They will make adjusting journal entries for this, which will decrease net income. If this decrease is too substantial then the books will be in the negative. Browne understands that the Chatter Chick was over produced, and is prepared to deal with the consequence. Gurchick prefers to take a gamble and hope for the best. 2. The corporate culture at Creative Toys is probably quite tense at this point. With Browne and Gurchick disagreeing over the course of action, the employees at this point are most likely wondering what the outcome of the decrease in demand will be and whether the company will be able to make it through this. I think that everyone is probably quite worried and tense at this...
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...Organisation Culture Research Commonwealth Bank Australia Executive Summary Organisation culture is a unique combination of the set of values that the members of an organisation believe in. It is a very important determinant of the conditions prevailing in an organisation and the culture says a lot about the values, beliefs and structure of a company. The essence of the culture of an organisation is captured by seven primary characteristics. These are measured on a high to low scale and they are very commonly used to provide a synthesized picture of an organisation’s culture. Eventually, this serves as a basis for the feeling of the shared understanding that members have about the organisation at hand, the way in which the members are expected to behave and the way in which things are done (Lok & Crawford, 1999). Commonwealth Bank has a good employee friendly organisation culture and is more or less a blend of the seven characteristics of organisation cultures. However, it is always better to avoid the flaws in each type of culture and adapt to only the meritorious attributes of these cultures. For this purpose, it is significant to analyse one’s own corporate environment and then figure out which blend of cultures suits best to the organisation as whole. The Bank focuses greatly on the incentivising the performance of the employees, in making the organisation more people oriented, getting a perfect mix of both innovative and stable organisation, in improving the collaboration...
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...Domino’s Pizza Demand and Forecast ECO550 Rigo Benitez Dr. Atia Yasmeen Strayer University Demographics and Independent Variables Analysis Domino’s Pizza is planning to open a store in Annandale, VA, a median-size town about 10 miles outside of Washington D.C. Domino’s Pizza will do a demand and forecast to determine if it’s a good decision to open the store. The independent variables are population, mean household income, and pizza price as the independent variable. Annandale’s census population was 41,008 at the 2010 census, down from 54,994 in 2000 due to the splitting of the western part form Wakefield and Woodburn CDP's. The population and household income should help determine if people are willing to pay the pizza price and how much is the demand for pizza. The population helps determine the demand for pizza because of the law of the demand, the larger population the larger the demand. The household income will help also because the more disposable income the more people will buy a common good. Pizza is a common good that people will buy more often if they have more disposable income. The following chart display the variables used to determine pizza demand. Testing Coefficient of Determination Analysis Using Data Regression Analysis tools on Excel, the following results are used to determine the pizza demand in Annandale and if Domino’s Pizza should go ahead with the decision open the store. Domino’s Pizza Final Analysis to Open the Store The...
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...References……….…....…………………………………………………………....7 Abstract The intent of this research paper is to determine whether the color distribution/proportion of peanut M&M’s derived from a random sample 14-ounce bag (o) is a good fit to the hypothesized distribution/proportion of an infinite population of peanut M&M’s as cited by Mars, Inc. (p). Introduction A 14-ounce bag of peanut M&M’s was utilized to observe and obtain the random sample color distribution/proportion data. According to Mars, Inc. and as shown on Table 1, p has hypothesized distribution/proportions of: Blue-0.23, Brown-0.12, Green-0.15, Orange-0.23, Red-0.12 and Yellow-0.15. Table 1 – Color Distribution/Proportion Figures via Mars, Inc. Color Milk Chocolate Peanut Crispy Minis Peanut Butter Almond Blue 24% 23% 17% 25% 20% 20% Brown 13% 12% 17% 13% 10% 10% Green 16% 15% 16% 12% 20% 20% Orange 20% 23% 16% 25% 20% 20% Red 13% 12% 17% 12% 10% 10% Yellow 14% 15% 17% 13% 20% 20% Methodology Using a goodness of fit test for the distribution of a multinomial (more than two categories) population, this study will determine whether the color distribution/proportion of peanut M&M’s derived from a random sample (14-ounce bag) is a good fit with the hypothesized distribution/proportion of an infinite population of peanut M&M’s as cited by Mars, Inc. The null hypothesis (Hₒ) or the hypothesis this paper...
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...1. How does Mr. Honda’s history with suppliers relate to Honda’s current supply management strategy? The current supply chain management strategy reflects Honda’s long-term goal of manufacturing products where they are sold, and its determination of buying parts where it manufactures vehicles. A. Increased local content is due largely to purchases Honda makes from many of the other 3 Japanese automobile firms that were established during the late 80’s. B. Focusing on 4 regional markets has allowed Honda to develop strong sales, research and development, and manufacturing operations in each region to ensure that the product mix in each region is appropriate to the needs of the region. C. Suppliers are involved in the development process to the extent that they are asked and invited to submit suggestions about how certain designs could be made better, faster, with less weight, or less expensively. Today, purchasing is done by the Honda research and development department. 2. Why is purchasing so important to Honda? The International Purchasing Division of Honda Corporation has full responsibility for coordination between Honda and its overseas plants. Honda’s purchasing department carries out the localization strategy. This strategy involves: A. Finding and qualifying local suppliers B. Developing a second source when volume doubles, or when quality or on-time delivery problems occur. C. In situations in which the goals or the philosophies of the...
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...Customer Loyalty in Indonesia (study case Honda beat and Telkomsel) Nur Endah Lizarifin Customer Loyalty Customer loyalty is the result of consistently positive emotional experience, physical attributebased satisfaction and perceived value of an experience, which includes the product or services. Customers exhibit customer loyalty when they consistently purchase a certain product or brand over an extended period of time. As an example, many customers stick to a certain travel operator due to the positive experiences they have had with their products and services. Customer loyalty is the key objective of customer relationship management and describes the loyalty which is established between a customer and companies, persons, products of brands, the individual market segments should be targeted in terms of developing customer loyalty. Four different reasons for loyalty should be promote Psychological Customer might also developing a sense of loyalty to a certain person working for a company. People can build up a good relationship with a bank advisor they have known for several years and who has always fulfilled their expectations. The fact that people develop a sense of loyalty can be described as a psychological reason to stick to a specific product. Economic In business to business markets, it might also be possible that customer loyalty results from the fact that switching to another company would lead to the company facing economic disadvantages. In this case, loyalty...
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...Creative Toys Inc. 1. If Inventory were to be written down in the 4th quarter instead of the 2nd quarter, it could cause the company to be compromised. One of the reasons that the allowance occurs in the 2nd quarter is because Browne realizes that it will make expenses appear too high, but, it will reduce the impact of the lack of future sales. However, if inventory were established in the 4th quarter, where they are expected to increase quite a bit, the transition would be easier. This is the reasoning behind Gurchick’s insistence of waiting for the 4th quarter. On the down side, if sales do not increase as expected, the company would be in substantial trouble. They will have a great deal of over stated income, which will be caught by auditors. They will make adjusting journal entries for this, which will decrease net income. If this decrease is too substantial then the books will be in the negative. Browne understands that the Chatter Chick was over produced, and is prepared to deal with the consequence. Gurchick prefers to take a gamble and hope for the best. 2. The corporate culture at Creative Toys is probably quite tense at this point. With Browne and Gurchick disagreeing over the course of action, the employees at this point are most likely wondering what the outcome of the decrease in demand will be and whether the company will be able to make it through this. I think that everyone is probably quite worried and tense at this point, and things are likely going to...
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...Wii Fit exceeded sales expectations by so much? The key success factor for the Wii Fit was Nintendo had adopted an excellent marketing plan including the Marketing Mix, Growth Strategies and Product Life Cycle Strategies which delivered the Marketing Concept, i.e. meeting customer’s needs and wants, exceeding customer’s expectation and achieving profitable growth for the company. 1. Marketing Mix Product - The new Wii Fit game and Balance Board with a virtual trainer Presence - Through large retailers for better penetration Price - Affordable bundle pricing which was cheaper than the other console games, e.g. Sony’s PlayStation 3 and Microsoft Xbox 360 Promotion - Demo kiosks and social media online network 2. Ansoff Matrix - Growth Strategies Present Products - Wii console game New Products - Wii Fit & Balance Board Present Market – gamers and teenagers New Market – non gamer, women, seniors, health-conscious peple including who used to have outdoor sport activities Product Development - Modified the present console game with the new Wii Fit game and Balance Board to making more sales to the present customers who have already had the Console. Market Development - Identified and developed new markets with the new Wii Fit game and Balance Board, who have already had the Wii console games for the teenagers (Present Market) in the family. Diversification - Penetrate the new Wii Fit game...
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...Evaluation Essay Wii Fit Exercising can be so monotonous sometimes, and boring! Many people love to exercise, however, for others it seems like it is a tiresome and occasionally painful process. For those who love exercising and who have made it a lifestyle, it takes a lot of hard work and dedication. Nintendo came up with a video game, Wii Fit, which was intended to make exercising fun and interesting targeting those less dedicated individuals. The primary intent of the game was for working out. As such, many gamers', including my son, bought it since they were given the idea that it was just like working out or going for a jog. The game, along with the Balance Board controller, is able to weigh, evaluate the user and guide them through exercises and yoga poses. I do question how it makes the user have a positive experience when, as you first step on the Balance Board for your initial weigh in, and each time you come back and step on the board, it makes a sound like a moan making the user feel as if they are too heavy, as it starts the process of recognizing you and recording your weight. The intent of the game is to keep the user motivated and coming back and I wonder if that sound appropriately reinforces the initial goal. Parts of each game strongly imitate exercise that could also be learned from a good exercise video or book. Wii Fit is a brilliant concept that can keep bringing people back to have fun while they exercise; however, it lacks depth and many features that...
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...Tolerances and fits. This book includes tables and calculations for easy option of fits of machine parts and determination of their dimensional tolerances and deviations. Using this tool the following tasks can be solved: 1. Selection of suitable fits of machine parts according to the international standard ISO 286. 2. Determination of dimensional tolerances and deviations of machine parts according to the international standard ISO 286. 3. Selection of preferred fits of machine parts and determination of their dimensional tolerances and deviations according to ANSI B4.1. 4. Determination of non-prescribed limit deviations of linear and angular dimensions according to ISO 2768. 5. Automatic design of a fit for the given clearance or fit interference respectively. The data, procedures, algorithms and specialized literature and standards ANSI, ISO, DIN and others were used in the calculations. List of standards: ANSI B4.1, ANSI B4.2, ISO 286, ISO 1829, ISO 2768, EN 20286, JIS B 0401 Control, structure and syntax of calculations. Information on the syntax and control of the calculation can be found in the document "Control, structure and syntax of calculations". Basic terms. It is necessary that the dimensions, shape and mutual position of surfaces of individual parts of mechanical engineering products are kept within a certain accuracy to achieve their correct and reliable functioning. Routine production processes do not allow maintenance (or measurement) of...
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...covering one specific example of a few types of SMART technologies that exist today. First of all, what is SMART technology? According to TechTerms.com, SMART stands for, “Self-Monitoring Analysis and Reporting Technology.” It is often times used to protect and prevent errors in hard drives. Put more simply, it’s basically technology that is dynamic, economical (most of the time), and engages in multiple long term solutions towards the health of humans and the productivity, through interactive multisensory technology, action based learning, and brain-body integrated exercise. This type of technology can be used through the use of SMART bands, or wearable equipment, such as the Garmin Vivofit or the Adidas Fit Smart: Fitness tracker, video game based systems such as the Wii Fit or XBOX Kinect, Personalized Apps that can be downloaded onto your smart phone, and even built-in to large workout equipment, like treadmills and ellipticals. One major type of this product is a multisensory fitness suite of products by Multisensory Products. One of the proprietary technologies within MultiSensory Fitness Inc., SMART is Multisensory Brain-Body Fitness Training, a leading technology. This type of technology is designed to create a unique workout that can be used by people of all ages and abilities. Their products combine brain and body fitness, that are designed to improve physical, sensory, and cognitive performance, all while doing it...
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