...10 Appendices 12 Table A 12 Table B 12 Table C 13 Chart A 13 Financial Accounts 14 Executive Summary This report provides an overview of the financial position of Symantec Corporation (SYMC), a global provider of security, storage, and systems management solutions. The followings areas are considered: * The Debt and Equity position of the company are analysed. The various sources of financing used by the company are examined and evaluated by looking at the various debt instruments utilised by the company. * The possible value to be gained for investors is gauged by looking at the potential for market capitalisation. * This report also looks at the area of corporate governance, broadly within the Security Software Services industry. * Finally, the report assesses the future outlook in terms of growth, and the challenges and opportunities facing the company in the years ahead and its evolution stratagem. Introduction Symantec Corporation, currently number 391 on the Fortune 500 listing, operates within five segments: Consumer, Security and Compliance, Storage and Server Management, Services, and Other; hence Symantec is incontrovertibly diversified within the IT industry. The Company conducts business in three geographic regions: Americas, EMEA, and APJ. Symantec has remained financially viable throughout and since the burst of The Information Technology Bubble in 2000. (Galbraith & Hale, 2004) Great emphasis is placed on future-maturity;...
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...creation of inroads with two large domestic manufacturers that use capacitors in both consumer and industrial products. Lester electronics went public in 1984 and earns $500 million in revenues annually. The distribution agreement with Shang-wa Electronics has thus far been accommodating and successful for both parties. This agreement gives LEI the exclusive right to sell Shang-wa capacitors in the United States for 65 years as long as LEI maintains a minimum annual purchase of $1 million. Shang-wa cannot knowingly sell to any individual or company that will distribute the products within the United States. The Board of Directors has recently approved to move forward with a partnership and enter into a Lester & Shang-wa merger. This paper will further explore this merger while researching other companies who have faced issues comparable to LEI to ameliorate various possible alternative financing options. Juniper Networks, Inc. Juniper Networks is a publicly traded company that delivers products for building networks that are tailored to meet the specific needs of their users which enable communications over a single IP network. Juniper’s clients consist of enterprises, service providers, governments, and...
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...structure and framework).With that being said than who is John Thompson? John Thompson is one of the few African-American executives in the technology industry, grew up in South Florida as the son of a teacher and a postal worker. He’s known as unflappable and skilled salesman. In his private life, he’s an avid hunter and wine aficionado (Kopytoff, 2014). The beginning of Thompson’s career was at IBM where he worked there for almost 28 years as General Manager. As General Manager, Thompson was responsible for the sales, services and support operation of all IBM products and services throughout Canada, Latin America and the United States. After leaving IBM he was hired at Symantec Corp. in 1999 as their Chairman and CEO for 10 years. When Thompson was hired at Symantec, one of the first things he did was he advised Symantec to sell off some businesses that were not going to...
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...Case Studies Solutions Case Studies Solutions,Article Writing,Assignments,Research Work,Home Work MenuSkip to content Home How We Work ? Refund Policy How to Order ? Disclaimer Contact Us Finance Cases List POSTED ON MARCH 8, 2013 Hello, If u want us to solve any case study from below list, do contact us anytime, We are here to provide the experience, expertise, and professionalism that you are looking for , Our tutors are available 24/7 to assist you what you need, Click Here to submit your Order. ======================================================================================= Acquisition of Consolidated Rail Corp. by Benjamin C. Esty Airbus A3XX: Developing the World’s Largest Commercial Jet by Benjamin C. Esty American Chemical Corp.by William E. Fruhan, John P. Goldsberry American Home Products Corp.by David W. Mullins AQR’s Momentum Funds by Daniel B. Bergstresser, Lauren H. Cohen, Randolph B. Cohen, Christopher Malloy Arundel Partners: The Sequel Project by Timothy A. Luehrman AXA MONY by Andre F. Perold, Lucy White Beta Management Co. by Michael E. Edleson Butler Lumber Co. by Thomas R. Piper Cartwright Lumber Co.by Thomas R. Piper Citigroup 2007: Financial Reporting and Regulatory Capital by Edward J. Riedl, Suraj Srinivasan Clarkson Lumber Co. by Thomas R. Piper Cooper Industries, Inc. by Thomas R. Piper Cost of Capital at Ameritrade by Erik Stafford, Mark L. Mitchell Debt Policy at UST, Inc. by Mark L. Mitchell Dell’s Working Capital...
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...9-295-121 REV: NOVEMBER 6, 2001 Microsoft/Intuit The Decision In the fall of 1994 William Gates, chairman and CEO of Microsoft Corp., was considering the possible acquisition of Intuit Corp. Intuit marketed the leading personal finance software product called Quicken. Two years earlier Gates had met with Scott Cook, chairman of Intuit, to discuss the possibility of completing an acquisition. In the interim, Cook had further consolidated Intuit’s domination of the personal financial software market with the acquisition of a firm which marketed the best-selling personal income tax preparation software called Turbo Tax, and the acquisition of a firm which provided electronic bill-payment services. Intuit was known in the software applications industry as one of the few firms that had met a challenge from Microsoft in its own market niche and won. Other firms that had once dominated their market niches in word processing programs (WordPerfect) and spreadsheet programs (Lotus), for example, had been shouldered aside by Microsoft (Exhibit 1). Many firms were being acquired as the industry consolidated. Indeed, in March 1994 Novell announced that it was acquiring privately owned WordPerfect Corp.1 (which held the second-largest share of the word processing software market), and the spreadsheet business of Borland International (Quattro Pro held the thirdlargest position in spreadsheet software) in order to put together a suite of common applications to compete more...
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...9-295-121 REV: NOVEMBER 6, 2001 Microsoft/Intuit The Decision In the fall of 1994 William Gates, chairman and CEO of Microsoft Corp., was considering the possible acquisition of Intuit Corp. Intuit marketed the leading personal finance software product called Quicken. Two years earlier Gates had met with Scott Cook, chairman of Intuit, to discuss the possibility of completing an acquisition. In the interim, Cook had further consolidated Intuit’s domination of the personal financial software market with the acquisition of a firm which marketed the best-selling personal income tax preparation software called Turbo Tax, and the acquisition of a firm which provided electronic bill-payment services. Intuit was known in the software applications industry as one of the few firms that had met a challenge from Microsoft in its own market niche and won. Other firms that had once dominated their market niches in word processing programs (WordPerfect) and spreadsheet programs (Lotus), for example, had been shouldered aside by Microsoft (Exhibit 1). Many firms were being acquired as the industry consolidated. Indeed, in March 1994 Novell announced that it was acquiring privately owned WordPerfect Corp.1 (which held the second-largest share of the word processing software market), and the spreadsheet business of Borland International (Quattro Pro held the thirdlargest position in spreadsheet software) in order to put together a suite of common applications to compete more effectively...
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...Microsoft Corporation Future Business and Economic Prospects Analysis by Team 4 Group Members: Lewis Bullock Daniel Fuller Erica Jaume Tim Trenkle Rebekah Vandegrift Date of Submission: April 21, 2013 Table of Contents 1. Executive Summary 5 2. Company Introduction 6 3. Financial Analysis 7 3.1. Statement of Cash Flow Analysis 7 3.2. Liquidity Ratios 12 3.3. Asset Management Ratios 13 3.4. Debt Management Ratio 14 3.5. Profitability Ratios 15 3.6. Market Value Ratios 17 3.7. Du Pont Equation 18 3.8. Microsoft to Industry Analysis 18 4. Weighted Average Cost of Capital (WACC) 19 5. Future Cash Flows 22 Net Income before Extraordinaries 25 Net Income Growth 25 Depreciation, Depletion & Amortization 25 Depreciation and Depletion 25 Deferred Taxes & Investment Tax Credit 25 Deferred Taxes 25 Other Funds 25 Funds from Operations 25 Extraordinaries 25 Changes in Working Capital 25 Receivables 25 Accounts Payable 25 Other Assets/Liabilities 25 Net Operating Cash Flow 26 Net Operating Cash Flow Growth 26 Net Operating Cash Flow / Sales 26 2010 – 2012 Investing Activities 26 Capital Expenditures 26 Capital Expenditures (Fixed Assets) 26 Capital Expenditures (Other Assets) 26 Capital Expenditures Growth 26 Capital Expenditures / Sales 26 Net Assets from Acquisitions 26 Sale of Fixed Assets & Businesses 26 Purchase/Sale of Investments 26 Purchase of Investments 26 Sale/Maturity...
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...solely responsible for the editorial content of such materials. 111 FINAGEN ISBN: 0−390−55204−6 Finance Contents Ross−Westerfield−Jaffe • Corporate Finance, Seventh Edition I. Overview 1 1 20 34 34 35 70 98 130 152 152 193 219 219 241 241 275 1. Introduction to Corporate Finance 2. Accounting Statements and Cash Flow II. Value and Capital Budgeting Introduction 4. Net Present Value 5. How to Value Bonds and Stocks 7. Net Present Value and Capital Budgeting 8. Risk Analysis, Real Options, and Capital Budgeting III: Risk 10. Return and Risk: The Capital−Asset−Pricing Model (CAPM) 12. Risk, Cost of Capital, and Capital Budgeting VII. Short−Term Finance 27. Cash Management VIII. Special Topics 29. Mergers and Acquisitions 31. International Corporate Finance Harvard Business School Entrepreneurship Cases JAFCO American Ventures, Inc.: Building a Venture Capital Firm 299 299 Case Harvard Business School Finance Cases Pioneer...
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...TABLE OF CONTENTS I. INTRODUCTION 1 II. HISTORY OF CRM MARKET 3 Major Vendors 5 Current Offerings 6 III. DEFINITIONS OF CRM 6 IV. DRIVERS FOR CRM APPLICATIONS 9 Reasons for Adopting CRM: The Business Drivers 9 Cost Goals 10 V. THE CRM INDUSTRY 11 Size of the CRM Industry 12 Vendors 13 Technology and Service 15 VI. INFORMATION TECHNOLOGIES FOR CRM 20 Key CRM Tasks 20 IT Factors of CRM Tasks 22 VII. CONSULTANTS 23 VIII. RETURN ON INVESTMENT OF IMPLEMENTATION 24 Cost and time 24 Benefits 25 ROI of CRM Projects 27 IX. PRINCIPLES OF CRM 27 X. CRM ISSUES 28 Customer Privacy 28 Technical Immaturity 30 XI. CASE STUDIES 31 Amazon.Com 31 Dell 32 Volkswagen 33 Wells Fargo 34 XII. CONCLUSIONS 36 REFERENCES 37 APPENDIX A BASIC ASSUMPTIONS OF CRM 40 APPENDIX B COMMON MYTHS OF CRM 41 APPENDIX C LIFETIME VALUE OF A CUSTOMER 44 C1. Simple Approach 45 C2. More Sophisticated Calculation 46 C3. Effect of Loyalty Programs 47 C4. Additional Factors to Consider 49 C5. The Arithmetic of Lifetime Value 49 C6. Example: Applying Lifetime Value Concepts in Banking 51 C7. Summary and Conclusions on Lifetime Value 53 APPENDIX D VENDOR’S WEB SITE ADDRESSES 55 2 Version 3-6 March 23, 2001 CUSTOMER RELATIONSHIP MANAGEMENT Paul Gray Jongbok Byun I. INTRODUCTION Over a century ago, in small-town America, before the advent of the supermarket, the mall, and the automobile, people went to their neighborhood general store to purchase goods. The proprietor and the...
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...RE-BRANDING AND ITS CONTIBUTION TO THE COMPANY’S COMPETITIVENESS: A CASE STUDY OF ZAIN KENYA, ELDORET BRANCH BENJAMIN CHERUTICH ELD/DBM/2641 Research project submitted to The Kenya Institute of Management in partial fulfillment of the requirement for the award of Diploma in Business Management September, 2009 DECLARATION Declaration by the candidate This research study is my original work and has not been presented to any other examination body. No part of this research should be reproduced without my consent or that of The Kenya Institute of Management. BENJAMIN CHERUTICH; Sign…………………………. Date………………… Declaration by the supervisor This research has been submitted for examination with my approval as The Kenya Institute of Management Supervisor. MR. EVANS OBARE; Sign ………………………… Date……………………… Lecturer KIM Eldoret For and on behalf of The Kenya Institute of Management STEPHEN KAMAU; Sign ……………………….. Date…………………………… Branch Manager Eldoret DEDICATION I would like to dedicate this research project to my beloved fiancée Priscillah and my nephew Jackline for their encouragement. I also dedicate to my loving parents Mr. and Mrs. Samuel Mendwa for their support and love. ACKNOWLEDGEMENT First I would like to give praise and honor to the Almighty God for giving me sufficient grace and power to write this project....
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...Microsoft Corporation TABLE OF CONTENTS EXECUTIVE SUMMARY BUSINESS SUMMARY COMPANY DESCRIPTION INDUSTRY ANALYSIS COMPETITIVE ANALYSIS HISTORICAL PERFORMANCE FINANCIAL FORECASTS RISKS INDUSTRY RISK REGULATORY LEGAL RISK COMPANY RISK RISKS IN FORECASTS VALUATION DIVIDEND DISCOUNT MODEL PRICE MULTIPLES P/E P/B EV/EBITDA CONCLUSION REFERENCES APPENDICES EXECUTIVE SUMMARY Microsoft is the leading producer of software in the world. The company is made up of 5 divisions: Windows and Windows Live (Windows 7), Server & Tools (Windows Server 2008), Online Services (MSN Messenger), Microsoft Business Division (Office 2010) and Entertainment & Devices (Xbox). Microsoft recently launched Windows 7 and Office 2010. The company is showing growth in earnings for 2010. The largest divisions of the company are the Windows and Microsoft Business divisions. Sales were forecast in relation to GDP in the form of a regression. The calculation yielded a high R-square of 93.53%. GDP is expected to increase in the US at a rate ranging from 2.00% to 3.00% Year-on-Year. The Equity Valuation methods used are the Dividend Discount Model and 3 Relative Comparable measures with the industry: P/E, P/B and EV/EBITDA. DDM As Microsoft is a company in the mature phase in a mature industry, the GGM applied. The sustainable growth rate obtained was 10.79% and the required rate of return was 12.95% (calculated with a regression and single index model for β...
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...9-403-090 REV: AUGUST 23, 2004 JEFFREY T. POLZER ALISON BERKLEY WAGONFELD Flextronics: Deciding on a Shop-Floor System for Producing the Microsoft Xbox It was March 2001 and Jim McCusker was getting restless during the long flight over to Hungary. He had just spent a few days visiting Flextronics’ North American operations in Guadalajara, Mexico, and now he was on his way to Flextronics’ central European facilities. He was planning to spend two days there before heading back to his primary office at Flextronics’ U.S. headquarters in San Jose, California. As the senior account manager for Flextronics’ relationship with Microsoft, McCusker spent much of his time traveling between the two facilities, one in Mexico and one in Hungary, that would be producing the new Xbox video game system for the 2001 holiday season. When McCusker first took charge of the Microsoft account in November 2000, he quickly realized that Flextronics had committed to an extremely aggressive schedule for producing the Xbox. The two facilities designated to build the product would have to work together very closely to achieve Microsoft’s goal of a simultaneous North American and European launch. The Microsoft Xbox was Flextronics’ first truly global project, and McCusker knew that it would be important to standardize certain elements among the Flextronics facilities. In fact, in bidding for the business, Flextronics management had committed to Microsoft that they would use the same shop-floor...
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...Preface Initiated in 1995 by Secretary of Defense, Dr. William Perry, and continued today by Secretary Rumsfeld, the SECDEF Corporate Fellows Program (SDCFP) is a long-term investment in transforming the DoD’s forces and capabilities. Annually, two senior officers with highly successful operational command and staff backgrounds from each Service are selected to receive their senior service college credit by training with Corporate America. The program’s intent is to allow officers to spend a year outside their traditional career paths to glean the best of change, innovation, and leading-edge business practices that could potentially transform DoD business and operational practices. To date, 65 corporate fellows have gone on to form a cadre of Service leaders, knowledgeable in the organizational and operational opportunities made possible by revolutionary changes in information and other technologies. To prepare for the fellowship, the fellows spend four weeks in training. Specifically, participating in lectures on current political and military topics such as strategies, technologies, and process improvement methodologies; meeting with senior DoD officials, Congressional delegates, business executives, etc; as well as taking part in a one-week graduate-level business overview provided by the University of Virginia’s Darden Graduate School of Business Administration. Following the fellows’ corporate assignment, formal outbriefs are provided to approximately forty senior...
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...BANKING A bank is a financial intermediary that accepts deposits and channels those deposits into lending activities, either directly or through capital markets. A bank connects customers with capital deficits to customers with capital surpluses. Banking is generally a highly regulated industry, and government restrictions on financial activities by banks have varied over time and location. The current set of global bank capital standards is called Basel II. In some countries such as Germany, banks have historically owned major stakes in industrial corporations while in other countries such as the United States banks are prohibited from owning non-financial companies. In Japan, banks are usually the nexus of a cross-share holding entity known as the keiretsu. The oldest bank still in existence is Monte dei Paschi di Siena, headquartered in Siena, Italy, which has been operating continuously since 1472.[1] Contents • 1. History o 1.1 Origin of the word • 2. Definition • 3. Banking o 3.1 Standard activities o 3.2 Wider commercial role o 3.3 Channels o 3.4 Business model o 3.5 Products 3.5.1 Retail 3.5.2 Wholesale • 4. Risk and capital • 5. Banks in the economy o 5.1 Economic functions o 5.2 Bank crisis o 5.3 Size of global banking industry • 6. Regulation • 7. Types of banks o 7.1 Types of retail banks o 7.2 Types of investment banks o 7.3 Both combined o 7.4 Other types of banks History Banks date back to ancient times. During the 3rd century AD...
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...Learning with Cases INTRODUCTION The case study method of teaching used in management education is quite different from most of the methods of teaching used at the school and undergraduate course levels. Unlike traditional lecture-based teaching where student participation in the classroom is minimal, the case method is an active learning method, which requires participation and involvement from the student in the classroom. For students who have been exposed only to the traditional teaching methods, this calls for a major change in their approach to learning. This introduction is intended to provide students with some basic information about the case method, and guidelines about what they must do to gain the maximum benefit from the method. We begin by taking a brief look at what case studies are, and how they are used in the classroom. Then we discuss what the student needs to do to prepare for a class, and what she can expect during the case discussion. We also explain how student performance is evaluated in a case study based course. Finally, we describe the benefits a student of management can expect to gain through the use of the case method. WHAT IS A CASE STUDY? There is no universally accepted definition for a case study, and the case method means different things to different people. Consequently, all case studies are not structured similarly, and variations abound in terms of style, structure and approach. Case material ranges from small caselets (a few paragraphs...
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