Setting Target 4. Provide Reward - Requirement for Effective Result control : - Knowledge of desired result : Org should know what result are desired - Ability to influence desired result : Employee have influence on result (Controllable) -Ability to measure Controllable result effectively : Org can measure result effectively (Measurable) Result measure should be : Precise, Objective, Timely, Understandable Chapter 3 4) Action Control : To ensure employees act in org’s best interest
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CASE 2-1 Ali Zein Kazmi February 1, 1999 THE NOT-SO-WONDERFUL-WORLD OF EURODISNEY -THINGS ARE BETTER NOW AT PARIS DISNEYLAND- 1. What are the factors contributed to EuroDisney’s poor performance during its first year of operation? Walt Disney overestimated the magic that was to be in introducing Europe's most lavish and extravagant theme park in April of 1992. The fiscal year 1992-1993 brought EuroDisney a loss of nearly $1 billion. Mickey, a major promotion tool of Disney management
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ALL ABOUT? Cost allocation deals with one of the following large areas: 1. How should fixed or overhead costs be allocated to different departments or products? 2. How should costs of shared services be allocated among various departments? 3. How should joint (common) costs of a single production process be allocated to products that emerge from this joint process? TERMINOLOGY USED: Cost allocation Cost assignment Cost apportionment Cost distribution Cost application Cost tracing REASON
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CASE 2-1 Ali Zein Kazmi February 1, 1999 THE NOT-SO-WONDERFUL-WORLD OF EURODISNEY -THINGS ARE BETTER NOW AT PARIS DISNEYLAND- 1. What are the factors contributed to EuroDisney’s poor performance during its first year of operation? Walt Disney overestimated the magic that was to be in introducing Europe's most lavish and extravagant theme park in April of 1992. The fiscal year 1992-1993 brought EuroDisney a loss of nearly $1 billion. Mickey, a major promotion tool of Disney
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Molly Nicholson Case 1-1 Starbucks 1. Identify the controllable and uncontrollable elements that Starbucks has encountered in entering global markets. Starbucks has deployed the tactic of buying real estate in strategic locations in order to keep out their competitors. Management has the opportunity to of learning to be culturally competent in order to ease into foreign markets. In the Asian market, Starbucks has catered to local tastes such as a less sweetened version of espresso and lattes. In
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13) Controllable cost: cost of food used in the casino restaurant, cost of dealer’s salary, maintenance cost Uncontrollable cost: cost of advertising campaign for the Casino, cost of accounting, cost of customer winning a jackpot 2.23) Product cost: cost assign to goods that were either manufactured or purchase for resale Period cost: cost that are expenses in the accounting period in which they are incurred Variable cost Fixed cost Manufactured cost 1. Product cost 2. Period cost 3.
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CASE 2-1 Ali Zein Kazmi February 1, 1999 THE NOT-SO-WONDERFUL-WORLD OF EURODISNEY -THINGS ARE BETTER NOW AT PARIS DISNEYLAND- 1. What are the factors contributed to EuroDisney’s poor performance during its first year of operation? Walt Disney overestimated the magic that was to be in introducing Europe's most lavish and extravagant theme park in April of 1992. The fiscal year 1992-1993 brought EuroDisney a loss of nearly $1 billion. Mickey, a major promotion tool of Disney
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retailers collect sources and buy large amounts and sell in small amounts. * MULTI-CHANNEL Retailing : * Retailers sell to consumers through multiple retail formats: Example, mail, order, web, phone, stores. * Helps manufacture reduce cost, improve cash flow. * Exclusive Distribution: Suppliers make an agreement to with few or one retailer to sell certain brand, product or a location. * Example Target retail store sells Archer Farms only or up items. * Intensive Distribution:
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least two levels of uncontrollable uncertainty instead of one. | | | C) | Technological standardization could challenge effective customization in different markets. | | | D) | International trade regulations still do not allow free trade in most markets across the globe. | | | E) | Lack of competent skills makes effective service a major challenge. | | | | | | | | 4 INCORRECT | | Which of the following would be considered to be an uncontrollable element in the foreign
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statement reconciling budgeted and actual results. 55 Operating Statement 55 Profit and loss statement 56 4.3 Write a memo and report findings to management in accordance with identified responsibility centers based on the above findings. 58 Cost center 59 Revenue center 59 Profit center 59 Investment center 59 Memo 60 Report 61 Conclusion 66 References 67 Appendix 69
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