...basic rules: understand the management cycle that links strategy and operations, and know what tools to apply at each stage of the cycle. the Management System by Robert S. Kaplan and David P. Norton NOT LONG AFTER ITS SUCCESSFUL IPO, the Conner Corporation (not its real name) began to lose its way. The company’s senior executives continued their practice of holding monthly one-day management meetings, but their focus drifted. The meetings’ agenda called for a discussion of operational issues in the morning and strategic issues in the afternoon. But with the company under pressure to meet quarterly targets, operational items had started to crowd strategy out of the agenda. Inevitably, the review of actual monthly and forecast quarterly financial performance revealed revenues to be lower, and expenses to be higher, than targeted. The worried managers spent hours discussing how to close the gap through pricing initiatives, capacity downsizing, SG&A staff cuts, and sales hbr.org 1808 Kaplan.indd 63 | January 2008 | Harvard Business Review 6 3 12/5/07 5:32:05 PM | Mastering the Management System campaigns. One executive noted, “We have no time for strategy. If we miss our quarterly numbers, we might cease to exist. For us, the long term is the short term.” Like Conner, all too many companies – including some well-established public corporations – have learned how Gresham’s Law applies to their management meetings: Discussions about...
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...When comparing Managerial Accounting information and Financial Accounting information, which of the following, related to Managerial Accounting information, would be true?(It is concerned with estimates of the results of future activities) 2.In which account are the costs of manufacturing a product (that is ready for sale) accumulated until such time as the product is sold? (Finished Goods Inventory)3. Fardohnya Industries, Inc. reports the following information at 12/31/2012: -Acquired $75,000 cash by issuing common stock -Paid $70,000 cash for materials used in the manufacture of 200 units of product -Paid $16,000 cash for administrative salaries -Paid $35,000 cash for factory wages -Recognized depreciation on factory equipment, $5,000 -Collected $160,000 cash on sales made during 2012 -Recognized depreciation on office furniture, $3,500. Fardohnya makes all sales for cash. There are no credit sales. What is the total product cost?(110,000)* Product costs consist of materials used, labor applied, and overhead. Fardohnya, therefore, has a total product cost of $110,000 ($70,000 + $35,000 + $5,000).4. Fardohnya Industries, Inc. reports the following information at 12/31/2012: -Acquired $75,000 cash by issuing common stock -Paid $70,000 cash for materials used in the manufacture of 200 units of product -Paid $16,000 cash for administrative salaries -Paid $35,000 cash for factory wages -Recognized depreciation on factory equipment, $5,000 -Collected $160,000 cash on sales made during...
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...Global Expansion Strategies of Two Korean Carmakers- Case Analysis B6110: Supply Chain Optimization and Outsourcing January 27, 2012 Two Korean Carmakers- Strategic Situations Daewoo and Hyundai are two Korean carmakers who enjoy many structural similarities. Yet the two are direct competitors in the Korean automobile industry, where they are jostling for position, pushing for economies of scale, and hoping to sure up a competitive advantage. Both Daewoo and Hyundai look to international expansion as their recipe for success. Each has formulated a specific expansion strategy in the past based on its particular market situation. Both Daewoo and Hyundai now look to international global expansion for future success. Expansion & Supply Chain The direct competition with each other in the Korean car market had an enormous influence on each firm’s past globalization strategies. The Korean automobile industry has been dominated by Hyundai since the 1970’s. By 1993, Hyundai had established a 50% market share in the Korean market, whereas Daewoo only held 20% (Bowon, 2005, p. 148). In 1993, Hyundai also enjoyed 58% of the market share of automobile exports by Korean companies, whereas Daewoo’s exporting efforts had failed (Bowon, 2005, p. 148). Moving forward from 1993, Daewoo and Hyundai took into account their competitive position against each other when deciding how to conduct their global expansion strategy. “Daewoo focused on expeditiously achieving...
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...Mastering Finance Business Partnering The missing pillar in building Finance leadership February 2011 kpmg.co.uk ii | Section or Brochure name Contents Introduction The Role of Finance Business Partners Preparing Finance for Business Partnering Aligning Finance Business Partners with the Business Building an Effective Finance Business Partner Team Developing Effective Finance Business Partners Summary 1 2 3 4 6 8 10 © 2011 KPMG LLP a UK limited liability partnership, is a subsidiary of KPMG Europe LLP and a member firm of the KPMG , network of independent member firms affiliated with KPMG International Cooperative, a Swiss entity. Foreword from CIMA Even for finance functions that have already transformed their efficiency and the quality of management information they provide, delivering business partnering effectively can be a challenge. Senior business partnering roles - as described in this report - are hard to fill. As a result, there is a real demand for management accountants who, in addition to the core finance and accounting skills, can offer commercial insight and strategic thinking combined with influencing and, ideally, leadership skills. At CIMA, we like to describe a management accountant in a business partnering role as the navigator at the side of the CEO, the captain of the enterprise. These navigators support business leaders with information and analysis about the organisation’s position and course. They contribute to strategic decision making...
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...financial resources); FM dealing with resource markets; • Integrative view: FM is the multidiscipline based on the integration of 3 disciplinairy management fields: Resource Management, Service Management, Hospitality Management. FM resources • • • • • • • Human resources Material resources Information resources Financial resources Market resources Production & Logistics resources Development resources (Innovation) FM andHospitality Management • The art of welcoming • The conditioning of behaviour • The conditioning of navigation 3 Strategic FM Challenges • What is the dominant orientation of your organization: enabling or making (facilitating or producing)? • Did your FM make the step from supporting to enabling (from reactive to pro-active)? • Did you make the next step in positioning FM: from facility management to enabling leadership (from marching along the choosen road to marking the shining path) The strategic choices • Facility or make • Example Health care • Take hospitals: – Healing patients – Or – Enabling medical professionals to execute medical interventions Context: what is the world around FM Social Economic: a New Economy Geo-Political: The world is not enough Geo-Political: shifting power positions Political-Administrative: relationship business vs. state • Turbulence by crisis • Changing Governance systems • Limited tenability of current models • • • • New Economy disintermediated prosumption multiformity networks/chains ICT convergence ...
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...MBA Class of 2013 Concentration in Finance and Financial Institutions Corporate Development: Managing Acquisitions and Partnerships (A Management Perspective) Professor: Maurizio Zollo E-mail: maurizio.zollo@unibocconi.it Office: Via Roentgen, 1 - 4-A1-09 Phone: 02 5836 2525 Teaching assistant Emanuele Bettinazzi emanuele bettinazzi@phd.unibocconi.it Learning Objectives: Acquisitions and partnerships have become fundamental tools to manage corporate growth. No company today can afford to rely exclusively on organic development processes to fill its strategic gaps. However, realizing the expected value through external growth has proved to be far from obvious: value is being destroyed just as frequently (and copiously) as it is being created. In this course, we will discuss the factors leading to success and failure in corporate development processes, focusing on four different but interdependent set of questions: • When should acquisitions be preferred to partnerships (or vice versa) in the implementation of a given strategy? • How should the value potential and the risks connected to a given development opportunity be assessed? • How can the potential be translated into actual value creation through appropriate design and execution choices in the post-transaction phase? • What are the barriers to learning how to manage corporate development processes and how to remove them to ensure a rapid development of the required capabilities? The course is designed to cater...
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...distribution system of beer from factory to consumer was a radical change by General Manger Feith. The impact of this radical change became intensely personal with the agents and management. Because the agents where the eyes and ears of Heineken and their job duties were to serve as many pubs as possible they were threaten by the sudden change. However, the organization change was a cultural shock and encountered much resistance by sales people, lower management and commercial managers. Similarly, CEO Freddy Heineken was not keen on diversification and blocked the majority of initiatives. He was too set in his ways. After all, “the study focuses on a major change in the distribution system of beer and a period of structural inertia, caused by long CEO tenure” (Beugelsdijk, Slangen, & Herpen, 2002). It took many years but finally the shape of the organization change resulted from a radical change into an incremental change. Actually, it is said that “incremental change goes on all the time-or at least it ought to” (Nadler, 1998, p. 50). In sum, the change in the distribution system of Heineken was the very first major change ever. References: Beugelsdijk, S., Slangen, A., & Herpen, M. (2002). Shapes of organizational change: The case of Heineken Inc. Journal of Organizational Change Management, 15(3), 311-326. Retrieved August 29, 2010, from ABI/INFORM Global. (Document ID: 250932601). Nadler, D. A. (1998). Champions of change: How CEOs and their companies are mastering the skills...
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...30253 (770) 777-9311 www.musically.infinite@sounds.com November 16, 2012 A. Executive Summary 4 A1. Business Identification: 4 A2. Mission, Goals and Objectives: 5 A3. Keys to Success: 5 B. Company Summary 9 B1. Industry History: 9 B2. Legal Form of Ownership: 11 B3. Location and Facilities: 11 B4: Management Structure: 15 B5. Products and Service: 17 C. Market Analysis 19 C1: Target Market 19 C2: Industry Analysis 20 C3: Competitive Analysis 22 D. Market Strategy 25 D1: 4Ps. 25 D2: Price List- 28 D3: Selling Strategy- 29 D4: Sales Forecast- 30 E. Implementation Strategy 33 E1. Overall Strategy- 33 E2. Implementation- 36 E3. Control Plan- 2 F. Financial Statements and Projections 41 F1. Revenue and Cost Estimate- 41 F2. Forecasted Profit and Loss Statement 42 F3. Forecasted Balance Sheet- 44 G1. Financial Projections 45 G1a- Breakeven Point- 46 G1b-Financial Position: 48 G1c-Capital/Investment Needs: 49 References 509 A. Executive Summary A1. Business Identification Musically Infinite, LLC will operate as a Music Production Company providing a state of the art music production studio for creating, recording and mastering of recorded tracks. This production company will also provide state of the art video studios for videography, which has proven to be an invaluable asset to artist branding in the 21rst century. Musically Infinite will operate a remote location whose sole purpose is to serve as a data warehouse for the storage...
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...Supply Chain Management Certificate This “practical” interactive certificate series is designed to provide participants with a detailed look at global supply chain management with a focus on Purchasing, Inventory, and Warehousing. This certificate addresses issues in terms of today’s global supply chain and its supply chain streams and flow process, so practitioners can know how to make the most of this powerful tool. You will have the opportunity to explore a variety of global supply chain management areas in depth, extrapolate their logistics meanings, and apply the techniques needed to make it all work for your organization. Mastering the supply chain’s dynamics is no longer extraneous to survival in today's global environment—it's essential. Because logistics affects 30% or more of the value added to your product, it offers abundant areas of opportunity and exciting possibilities for lowering the bottom line. Where you may not be able to control the outside influences, ambiguities, and contradictions of the global economy at large, you can have a profound influence on controlling those internal logistics factors that substantially affect your profitability or cost containment efforts. Course Schedule Global Supply Chain Basics and Technology (Day 1) Global Logistics Basics and Functionality (Day 2) Essential Aspects of Purchasing (Day 3) Inventory ManagementPractices (Day 4) Mastering Warehouse Mechanics (Day 5) WHO SHOULD ATTEND • Logistics, supply chain, procurement...
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...business management software—usually a suite of integrated applications—that a company can use to store and manage data from every stage of business, including: Product planning, cost and development Manufacturing Marketing and sales Inventory management Shipping and payment ERP provides an integrated real-time view of core business processes, using common databases maintained by a database management system. ERP systems track business resources—cash, raw materials, production capacity—and the status of business commitments: orders, purchase orders, and payroll. The applications that make up the system share data across the various departments (manufacturing, purchasing, sales, accounting, etc.) that entered the data. ERP facilitates information flow between all business functions, and manages connections to outside stakeholders.[1] Enterprise system software is a multi-billion dollar industry that produces components that support a variety of business functions. IT investments have become the largest category of capital expenditure in United States-based businesses over the past decade. Though early ERP systems focused on large enterprises, smaller enterprises increasingly use ERP systems.[2] Organizations consider the ERP system a vital organizational tool because it integrates varied organizational systems and facilitates error-free transactions and production. However, ERP system development is different from traditional systems development.[3] ERP systems run on a...
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...The Long Conversation: LEARNING HOW TO MASTER ENTERPRISE SYSTEMS Oswaldo Lorenzo Peter Kawalek Boumediene Ramdani cquiring large-scale Enterprise Systems (ESs) such as SAP or Oracle is typically a huge investment for any firm. The cost of an ES with sophisticated multi-modules can run into the millions of dollars. A study of total costs of ES ownership by the Aberdeen Group reveals that companies with turnovers between $1–$5 billion pay an average of $5,920,785, and companies with turnovers between $50 and 100 million pay an average of $1,081,869 for a complete ES package, which includes the configuration and implementation of software, after-sales service, and maintenance.1 ESs promise much, but are expensive, complex, and threaten the status quo of relationships in an organization. Hence implementation is frequently fraught with difficulties. Change management costs can mount as old systems are discarded or modified, staff is trained, old processes are set aside and new procedures adopted. Subsequently, organizations seek a rapid return on their investment by designing project plans that minimize risk. In the early years, few ES implementations lived up to their expectations and today many organizations continue to struggle to achieve the results expected and desired from ESs. How can companies reach a point where their expectations are met or exceeded? Far from offering a quick fix, or providing a fast track to an order of magnitude improvement, ESs are better understood...
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...and/or perceived relationship difficulties. These difficulties are normally centered on one’s perception of the engagement and are triggered by a rational matter (Wilmot & Hocker, 2011). The Complexities’ of Conflict: Conflict is often viewed by many as a negative act that is argumentative, inflated, redundant, and combative. However, according to Abigail & Cahn (2011) conflict is an inevitable interpersonal function that exists due to the complexities of interdependent relationships. Interdependent relationships are a natural byproduct of family, work, school, community and a host of other close knit relationships. Often these relationships are influenced by one’s social economic status as well as their social cultures and value systems (Wilmot & Hocker, 2011). Furthermore, all conflict is directly related to one’s ability to accept and agree with how an individual or entity is managing their interactions and relationship with the other interdependent party (parties) (Wilmot & Hocker, 2011). Therefore, the process of communicating and dialoging about conflicts requires its participants to engage the dilemma in a manner that is both practical and systematic (in methodology) in order to derive at common harmonious outcome (Wilmot & Hocker, 2011). Types of Conflicts: In literature there are five main type of...
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...summarize the entire project from the beginning project plan and scope information to the lessons learned from the project. It should also include other information such as the changes to the project scope if there were any, the final project budget reconciliation, and “a recap of the performance metrics taken during the project; the budget and schedule reconciliations will provide the final project metrics”, (Mastering-project-management.com, 2009). The information for the report can be written in document format or compiled in a presentation using some type of software such as Microsoft PowerPoint. It is a good idea to have the written document even if the Project Sponsor has requested a presentation. The Project Closure Report should be submitted or presented to the Project Sponsor for final approval. Another document that would be useful when closing a project would be a Project Closing Review with fewer details of items such as budget information, used to inform the other key stakeholders of the project results and closing. The review should also provide management and the project team with insights gained as a result of the project. It could go so far as to recognize the performance of the project team and\or individuals who produced exceptional results during the implementation processes. The report may also provide future project teams with valuable lessons that will increase their probability of success. Below are some of the topics that would be appropriate...
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...Abstract Ford Motor Company is an American multinational corporation and one of the world’s largest automakers based on worldwide vehicle sales. On June 16, 1903, Henry Ford founded and incorporated the business which continues to operate and is controlled largest by the Ford family for over 100 years. This paper will discuss one of Ford’s CEO’s, Alan Mulally, who is currently the company’s president and chief executive officer. This paper explores the role of leadership and how it impacts the organizational performance at Ford Motor Company. This paper discusses Alan Mulally’s leadership style and how goal setting helped Ford improve its performance. In addition, an assessment of Mulally’s leadership will analyzed on each element in communication openness including message transmission, trust, agendas, and goals. In summary, an evaluation of the effectiveness of Mulally’s leadership style will be discussed along with a recommendation on whether he should continue with his style, or pursue a different style. (Hellriegel, D., & Slocum, J W, Jr. 2011) The Role of Leadership and its Impact on Organizational Performance Leadership is an important function in any business and should establish a clear vision while communicating the vision to others. Leadership can have a significant impact on an organization’s performance. The role of leadership is the act of motivating people toward reaching a common goal. There are three types of leadership which commonly exists in...
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...Methodology In the 1900s Methodology was a system to help streamline projects to eliminate redundancies and make processes more efficient. The system included project management, total quality management, concurrent engineering, and scope change control and risk management. In the twenty century, methodology has the same results; to make processes more efficient however some of the processes have changed. The twenty-century processes are supply chain management, business processes, feasibility studies, cost-benefit analyses (ROI) and capital budgeting. Regardless of the changes in the processes, the end result is to streamline the process, reduce paperwork and eliminate duplications. Methodology has been known to lower cost and improve customer satisfaction. Based on the case study titled “Creating a Methodology”, the executive staff had many concerns about implementing an enterprise project management methodology (EPM). The executive staff knew it was necessary to continue to compete in the request for proposal (RFP) process. In addition this was a requirement from corporate to implement a methodology. The employees of the company had a routine way of doing things and they did not like a change. This was a clear indication of a company with employees whose vision is low whose believes were based on their powers and not the goals of the organization. The company headed by the John Compton has members of staff whose working system is corrupted. They all feared that they could...
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