b. Yes. In my opinion, Saks’ zero-tolerance policy for employee theft was reasonable and effective way for internal control. Even though the case presented only one instance when Fierro was caught stealing, the fact that he was caught already tends to lead someone/management or gives the management a notion to believe that he had probably stole before or will probably do it in the future. The zero-tolerance policy might seem harsh, however it has its advantages that are hard to calculate. The
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Example of Audit Plan ID 1 2 3 4 5 6 7 8 9 10 11 12 Task Name Preliminary discussion March Start Wed 17/04/06 April May June July August September October November December B M E B M E B M E B M E B M E B M E B M E B M E B M E Audit planning meeting Mon 29/04/06 Audit tool development Audit analysis tool development Implement data collection Mon 06/05/06 Wed 15/05/06 Thu 01/08/06 Data analysis Mon 02/09/06
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this group are Saks Incorporated, the Neiman Marcus Group, and Nordstrom. Through e-commerce strategies we will be able to see the similarities and differences in these firms’ core competencies and business strategies. Background Since 1998, Saks Inc. has opened forty-seven new stores. Their capital spending has increased to over $1.4 billion and they have upgraded or remodeled the majority of their stores. Saks Inc. has also reorganized into two distinctive groups; the Saks Department Store
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Week 4 You Decide 1. Who specifically should Premier Portraits target with the new branding message? With the quality of the prints that Premier Portraits is going with I would recommend them market the new branding to high-end personal photographers that would service the higher end clients such as corporate big wigs and sports personal. These types of people are the people that can afford to spend the added cost and are also the people that would appreciate the added touches.
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Auditor Independence “Independence” refers to a person not being influenced or controlled by other people but free to make his or her own decisions or example, an independent auditor does not have any business dealings with the clients’ companies. Owing to many incidences of financial scandals worldwide, it is now crucial to ensure that financial statements of companies are properly audited by auditors. Corporate reporting should comply fully with financial reporting standards and
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Message | : | Key facts of the case Comptronix Corporation provided contract manufacturing services to original equipment manufacturers in the electronics industry. The company was formed in the early 1980s and suffered several years of losses until receiving an infusion of capital from a venture capitalist in 1987. The company went public in 1989. Three of the senior executives at Comptronix fraudulently issued financial statements for 1989, 1990, and 1991, before confessing
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international expansion is the luxury specialty store, Saks Fifth Avenue Saks Fifth Avenue has an extremely high brand loyalty and enjoys stores in the best locations in New York City. However being an upscale store, it is constantly under the threat of economic slowdowns, product substitutions and of course competition! Therefore a market expansion strategy across international shores would present an ideal opportunity to Saks Fifth Avenue to build on its brand equity and continue its conquest
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base that Saks Fifth Avenue has. By addressing this issue half of issues at Sears would be solved because it cost more to get new customers than it does to retain customers. 2. Where did the “ELF” concept come from? Was this the first use of elves or personal shoppers? In not, how are personal shoppers used in other companies? The Elf concept came from the personal shopper idea. This concept had mostly been exclusive to high end retailers such as Bloomindales and Saks Fifth Avenue. Stores
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APPLICATIONS – NORDSTROM Diagnosis Company Background Industry: Retailer (Upscale US department store chain). Founder: John W. Nordstrom and Carl F. Wallin. Headquarters: Seattle, Washington, US. Product: Footwear, clothing, accessories, handbags, jewelry, cosmetics, and fragrances. Number of location: 112 full-time stores, 69 Nordstrom Rack clearance stores, 2 Jeffrey Boutiques and 1 clearance stores Connecting with customer 1) Maintain "no question asked" return policy. 2) Sales representatives
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up the sales properly – therefore, still needing an employee to finish up the transaction for them – sometimes frustrating customers, and costing the company more money to still hire more employees and fix those machines. Another instance, Saks Fifth Avenue, has been downsizing their company by
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