...VANITA YADAV C.V. BAXI CORPORATE GOVERNANCE FAILURE AT SATYAM “Why do you want to quit Satyam,”1 the panel member asked the 30-year-old employee being interviewed. Satyam Computer Services Ltd (“Satyam”) was India’s fourth-largest computer services company; however, many employees had left and applied for new jobs after news of a US$1.4 billion corporate fraud at Satyam became public in December 2008. 2 Satyam’s governance failure had severely shaken its stakeholders and the global business community, and the business press worldwide referred to Satyam as “India’s Enron”.3 Satyam was listed on the New York Stock Exchange (“NYSE”) in 2001 and on Euronext Amsterdam in 2008. 4 It boasted a large number of clients, including many Fortune 500 companies.5 The founder of Satyam Computer Services, B. Ramalinga Raju (“Raju”), was a highly regarded entrepreneur and an eminent fixture at prestigious corporate events in India.6 In 2007, he was honoured with the Ernst & Young Entrepreneur of the Year award, yet a mere two years later, on 7 January 2009, Raju made the calamitous confession that he had falsified accounts on a grand scale over a long period of time. His shocking announcement sparked a big debate over whether India possessed adequate guidelines for corporate governance. 7 How did Raju commit a fraud of such magnitude? How could a successful company, twice awarded the Golden Peacock award for corporate governance excellence collapse in such a manner? 8 Where did the internal...
Words: 8868 - Pages: 36
...Success and Failure Patricia Barton November 25, 2001 Table of Contents Introduction Factors Contributing to Failure ERP Success Stories Conclusion References Introduction What is Enterprise Resource Planning (ERP)? “Enterprise Resource Planning” is a term originally coined in 1990 by The Gartner Group to describe the next generation of MRP II software. The purpose was to integrate all facets of the business enterprise under one suite of software applications. The definition of ERP would be broadened to include almost any type of large integrated software package.[i][1] Webopedia provides a generalized definition of ERP as “a business management system that integrates all facets of the business, including planning, manufacturing, sales, and marketing.”[ii][2][iii] Some of the more well-known ERP software developers include SAP, Oracle, and PeopleSoft. This paper will look at both successful and unsuccessful ERP implementations and what contributed to their success or failure. Many lessons have been learned by failed ERP projects, as evidenced by the volume of information available. Many of the failures occurred in 1999, in an attempt to manage Y2K issues, which may suggest that the companies had pressing needs which forced the implementation. Apparently, late adopters are benefiting from the mistakes of their predecessors since the most current research describes successful implementations. What constitutes an ERP implementation failure? There are...
Words: 4437 - Pages: 18
...Marketing The slogan "More saving. More doing." was introduced by The Home Depot in the March 18, 2009 circular, replacing "You can do it. We can help." which had been used since 2003. Other slogans used in the past 25 years include "The Home Depot, Low prices are just the beginning" in the early 1990s and "When you're at the Home Depot, You'll feel right at home" in the late 1990s and "The Home Depot: First In Home Improvement!" from 1999-2003 RISK FACTORS BEHIND CORPORATE FAILURE 1 LACK OF BOARD EFFECTIVENESS Ineffective boards suffered from limitations on skills and competence, as well as on the nonexecutive directors’ (NED) ability to monitor and control senior executives effectively. For instance, the board director who was responsible for refining at BP at the time of the Texas City refinery explosion had no refining experience. Independent Insurance’s NEDs did not have insurance industry expertise. 2 BOARDS' RISK BLINDNESS This is characterised by a board’s failure to engage with important risks, such as risks to reputation and “licence to operate”, to the same degree that they engage with reward and opportunity. For example, Railtrack’s licence to operate depended on the UK government, but the company outsourced track maintenance, despite the fact that this was one of its core responsibilities to its customers. 3 POOR LEADERSHIP ON ETHOS AND CULTURE Double standards were perceived in cases such as Maclaren’s dealing with its US and UK push-chair (baby stroller)...
Words: 766 - Pages: 4
...The current issue and full text archive of this journal is available at www.emeraldinsight.com/0263-5577.htm IMDS 106,9 Enterprise resource planning success An exploratory study of the financial executive perspective Alan R. Peslak Penn State University, Dunmore, Pennsylvania, USA Abstract Purpose – To explore the views of top corporate financial executives on the success of implementation of enterprise resource planning (ERP) systems as well as the variables associated with ERP project success. Specifically, relationships between dependent variables cost and budget performance on the independent variable overall project success are studied. Variables influencing cost and time performance are also explored. Design/methodology/approach – An analysis of secondary data obtained from the 2003 financial executives international comprehensive survey-based research on technology issues for financial executives. Multiple regression analysis and other statistical methods are used. Findings – The findings indicate that ERP implementations are generally viewed as moderately successful by top financial executives. In addition, both cost and time were significantly correlated with an overall view of success with cost performance holding higher influence. Several variables were found to significantly correlate with cost and time performance. Research limitations/implications – The study can be used as a basis for further exploration on the influences on ERP success as well as serve as a preliminary model...
Words: 6621 - Pages: 27
...digital goals. We found that despite the and technologies—especially when engaging organizational and talent challenges, executives with customers—C-level executives in a recent remain optimistic about digital business. McKinsey survey say they are stepping up their 1 own involvement in shaping and driving digital 1 he online survey was in the T field from April 2 to April 12, 2013, and garnered responses from 850 C-level executives representing the full range of industries, regions, and com any sizes; 8.6 percent of p these executives have a spe i c fic technology focus. To adjust for differences in response rates, the data are weighted by the contribution of each respon- dent’s nation to global GDP. 2 n the 2012 survey, we asked I about three digital-business trends: big data and advanced analytics, digital marketing and social-media tools, and flexible delivery platforms. See Brad Brown and Johnson Sikes, “Minding your digital business: McKinsey Global Survey results,” May 2012, mckinsey.com. They report, for example, that their companies are strategies. This is vital to the success of digital using digital technology more and more to engage programs, as survey respondents most often cite with customers and reach them through new a lack of senior-management interest as the channels. What’s more, growing shares report that reason for an initiative’s failure. Respondents their companies are making...
Words: 3116 - Pages: 13
...encourages me in my professional choices and future carrier and my professor Mr. Parmantier who helped me complete this dissertation. F inally, I would like to express my gratitude to Mrs. Jalabert, SBM MONACO Finance Director for her time spent answering my questionnaire. 2 MSC IS&BCFinancial SYSTEMS FUTURE Challenges in growing complex environment DISS Glossary BI: Business Intelligence BSC: Balanced Scorecard CFO: Chief Financial Officer CPI: Cost Performance Indicator CPM: Corporate Performance Management CR: Corporate Reporting CRM: Customer Relationship Management EPM: Enterprise Performance Management ERP: Enterprise Resource Planning FASB: Financial Accounting Standard Boards IASB: International Accounting Standard Board IFRS: International Financial Reporting Standards IIAA: International Institute for Analytics IIRC: International Integrated Reporting Council IT: Information Technology ICR: Integrated Corporate Reporting KPI: Key Performance Indicator ROI: Return On Investment SAP HANA: In-memory...
Words: 9593 - Pages: 39
...losses or bad publicity. After a series of discussions, we decided to take a very successful company and find how we can help to make it even more successful. The reason for such approach is that it becomes more difficult to find any serious issues, but at the same time the reality of such case increases as in the real world, in most cases, we are employed by well functioning companies, where these serious issues are not so evident. Table of Contents Nordea Profile 3 Selection of evaluation method 5 Bank & Capital Markets Risk Radar 6 Nordea Bank evaluation 7 Global financial shocks 7 Credit shocks and exposures 9 Reputation risks 10 Compliance and regulatory risk 11 Global market liberalization and consolidation 12 Geopolitical shocks 13 IT risks 15 Corporate governance and internal controls failures 16 Competition from non-bank banks and specialists and Increasing pressure on margins 20 Identification of issue, challenges and opportunities 21 Expansion in Baltic Countries and Poland 22 IT Development 26...
Words: 8895 - Pages: 36
...Essay on Providian Trust : Tradition and Technology (A) 1.Business context / Key Business drivers: Providian Trust is one of the Top 10 leading trust companies that activate in delivering financial and fiduciary services. Providian runs its business using its 216 subsidiaries network. The main origin of their earnings resides in commercial and residential mortgages, as well as consumer and corporate loans. The CEO of the company, Stephen Walsh, is facing the conflicting situation that was created under Michael LeBlanc’s command. LeBlanc is the senior vice president of Trust, Investment and Treasury and is responsible for leading the company’s reengineering project that is meant to result in the successful implementation of Select One’s main software system-Access Plus-which is already used by Providian’s competitors. The alarming scarcity of control and discipline inside the trust division is one of the key factors that triggered the necessity of creating and implementing this project. |2. Initiative Objectives |Initiative Benefits | |-improve front&back offices’ way of managing the |-increase control over customers’ accounts | |accounts | | |-centralize trust information |- better and more efficient reporting system | |- reduce time...
Words: 934 - Pages: 4
...2010 INFORMATION MANAGEMENT PBSA 823 Chicken Run Group Assignment Lecturer: Mr. J. C. Coetzee 9/18/2010 Nestlé struggles with Enterprise Systems CRITERIA FOR MARKING MBA-ASSIGNMENTS 1 | Meeting the objectives of the assignmentThe extent to which: | 60 | | *1.1 | the assignment was understood and answered comprehensively | 10 | | *1.2 | independent (own) thought is reflected | 10 | | 1.3 | insight in the topic was demonstrated | 10 | | 1.4 | logical, systematic thought and reasoning is demonstrated | 10 | | 1.5 | quality research (literature study and / or empirical work) was done | 10 | | 1.6 | conclusions are logic, meaningful and substantiated | 10 | | 2 | Presentation and technical aspectsThe extent to which: | 30 | | 2.1 | the content shows a logical andintegrateddevelopment and forms a balancedholisticwhole | 15 | | 2.2 | the executivesummary reflects the content comprehensively and meaningfully | 5 | | 2.3 | the table of contents, references and list of sources are noted correctly | 5 | | 2.4 | the style and language (grammar) meet the requirements | 5 | | 3 | General quality rating | 10 | | | Evaluator’s general evaluation mark of the assignment’s quality - taking into consideration the above and other factors | | | | TOTAL | 100 | | Assignment Word Count: Chicken Run Group Members “There is nothing more determined than poultry with a plan…” Bezuidenhout, P.J. 1224 6093 Botha...
Words: 4468 - Pages: 18
...CHAPTER I INTRODUCTION 1. Background of Case Study Selection Differentiated strategy is the strategy pursued by the company to produce products that are different or unique compared to competitors' products. Researchers are interested in doing research on the company because researcher wanted to learn more about controls for differentiated strategies, both theoretical and practical. Minnesota Mining & Manufacturing Corporation (3M) is one of the companies that have successfully implemented differentiated product strategy that gives priority to innovation as a competitive advantage offered. This company believes that innovation to be the cornerstone of 3M’s future success. Current management has continued to embrace and expand these policies and philosophies. That is why researchers interested in evaluating policies and 3 M that philosophy is based on the innovation in the implementation of the strategy of differentiation 2. Motivation Motivation researchers conducted a study of control for differentiated strategies in Minnesota Mining & Manufacturing Corporation (3M) because the researchers wanted to know more about the factors that influenced the design of the system and also the policies and philosophy rooted in the innovations made by 3M Corporation. By studying and examining the existing policy and philosophy that is rooted in innovation from the company, researchers can get a clearer picture of how to do a proper evaluation and what steps...
Words: 3697 - Pages: 15
...responsibility for the content of the report. The main author was Terry Ernest-Jones and the editor was Gareth Lofthouse. The findings are based on two main strands of research: ● The Economist Intelligence Unit conducted an online survey of 122 senior executives in western Europe, 68 of whom were based in the UK. Participants were selected from large organisations with over $1bn in annual sales revenue, and from a cross-section of industries, with a particular emphasis on financial services, healthcare and pharmaceuticals, telecommunications and professional services companies. ● We also interviewed several senior executives and knowledge-management practitioners on the challenges they face in managing corporate knowledge, and on the strategies they have employed to exploit business information for competitive advantage. Our sincere thanks go to all the interviewees and survey respondents for sharing their insights on this topic. June 2005 © The Economist Intelligence Unit 2005 1 Know how Managing knowledge for competitive advantage Executive summary H ow does a company turn the reams of data it generates daily into actionable knowledge? This is a question that increasingly frustrates executives at a time when their company’s store of data may be...
Words: 7590 - Pages: 31
...ARY SUM NER School of Business, Southern Illinois University, Campus Box 1106, Edwardsville, IL 62026, USA The purpose of this study was to identify the risk factors in implementing traditional management information systems projects, describe the risk factors associated with enterprise-wide/ERP (enterprise resource planning) projects and identify the risk factors in ERP projects which are unique to these projects. Some of the unique challenges in managing enterprise-wide projects which were highlighted through the ndings included the challenge of re-engineering business processes to ‘ t’ the process which the ERP software supports, investment in recruiting and reskilling technology professionals, the challenge of using external consultants and integrating their application-speci c knowledge and technical expertise with existing teams, the risk of technological bottlenecks through client-server implementation and the challenge of recruiting and retaining business analysts who combine technology and business skills. Introduction In the past few years many organizations have initiated enterprise-wide/ERP (enterprise resource planning) projects using such packages as SAP, Peoplesoft and Oracle. These projects often represent the single largest investment in an information systems (IS) project in the histories of these companies and, in many cases, the largest single investment in any corporatewide project. These enterprise-wide/ERP projects bring about a host of new questions...
Words: 6286 - Pages: 26
...What were some of Apple’s biggest successes and failures? Describe why. Apple Inc. has been in the USA and market place for long time since 1975 until today. Apply Inc. is the leader in technology market in the USA and in the world. In very beginning Steve Jobs and Steven Wozniak invented Apply I in 1975 and surprising the sale was pretty good. Then two years later the second, Apple II was designed and within a year the company has made $3 million. This is just the result that Apply always been working on creative and new things. Back in time, the Apple Inc. was not always big success. Couple years later Apple Inc. has design the pricey and unique product with the high price such as, Apple Lisa in 1983 or Macintosh TV in 1993. Both has ended up been the worse product due as a computer specs; it is lackluster and too expensive for Macintosh TV. Another flop is back in 1996 as network computer that can play game. The failures of Apple have been due to following; 1. Pricey Products 2. Poor marketing efforts 3. Too ambitious products The following products could be considered success for Apple; 1. IPod is one of the Apple’s biggest successes, it has completely changed the music industry and we can even say it has done a revolution in the technology innovation. 2. IPhone is the biggest success in my opinion since it is affordable, very popular and useful for everyone compare to other products Apple released. Created January 2007. 3. The Apple II 4....
Words: 1096 - Pages: 5
...Page 4 Service Culture Page 4 Competition and Strategy Pages 4 and 5 Service Blueprint Pages 5 and 6 Social Media Page 7 Level Capacity Pages 7 and 8 Sustainability Strategy Page 8 SWOT Pages 9 and 10 Recommendations Pages 10 and 11 Bibliography Page 12 Background The beginning of Time Warner Cable (TWC) can be traced back to 1968 when American Television and Communications (ATC) was founded. Later, between 1973 and 1978, Time Inc. acquired 100% of ATC and Warner Communications formed Warner Cable. In 1989, the merger of Time Inc. and Warner Cable was announced, later becoming what we know today as Time Warner Cable. As noted on the company’s website 1, Time Warner Cable Inc. (NYSE: TWC) is among the largest providers of video, high-speed data and voice services in the United States, connecting more than 15 million customers to entertainment, information and each other. They currently operate in 29 states and have over 51,000 employees. Time Warner Cable Business Class offers data, video and voice services to businesses of all sizes, cell tower backhaul services to wireless carriers and managed and outsourced information technology solutions and cloud services. Time Warner Cable Media, the advertising arm of Time Warner Cable, offers national, regional and local companies innovative advertising solutions. In 2012, TWC acquired Insight Communications. As of the end of 2012, TWC had annual...
Words: 2389 - Pages: 10
...A Forrester Consulting Thought Leadership Paper Commissioned By IntraLinks Trends, Challenges, And Technology Use In A Changing M&A Environment M&A Management Tools — The Missing Link To Institutionalize M&A May 2010 Forrester Consulting Trends, Challenges, And Technology Use In A Changing M&A Environment Table Of Contents Executive Summary ............................................................................................................................................................................................2 The M&A Management Tools Market Is Still Nascent ...........................................................................................................................3 Trends And Challenges In A Changing M&A Environment ................................................................................................................4 Criteria For Successful Corporate M&A ......................................................................................................................................................8 Technology Use And Satisfaction In M&A .............................................................................................................................................. 12 Capabilities Of The Next-Generation M&A Management Tool ....................................................................................................... 15 Key Recommendations .........................................................
Words: 5842 - Pages: 24
