...[pic] CHAPTER 1 NOTES COURSE OBJECTIVE A: Learn the terminology used to describe, categorize, and analyze the costs of doing business. This chapter gives an context to managerial accounting, showing you areas where decisions are needed to keep an organization moving toward its objectives, and satisfying the requirements of stakeholders. A number of business-wide factors have an impact on decision making: • Globalization of business: more markets, but more competition. o Strategy: a game plan to distinguish your business from its competitors. Needed to manage global competition. o Organizational structure: ▪ Decentralization: delegation of decision-making. ▪ Organization chart: chain of command and responsibility. • Line position: directly involved in the organization’s primary mission (its product or service). • Staff position: supports line positions, with only indirect involvement in mission. ▪ Business process: the steps needed to carry out a task. ▪ Value chain: the major business processes that create your product or service. • Lean production: Lean thinking model. “Pull” products through production in response to customer demand. o Push” Production: keep everyone busy, produce as much as possible. ▪ Creates excess inventory. ...
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...INSTITUTE OF BUSINESS MANAGEMENT STUDIES Term End Examination/ Supply Chain Management. All Questions are compulsory. Total Marks : 100. Q.1 Consider the supply chain involved when a customer order a book from Amazon. A. Identify the push/pull boundary & two process each in the push & pull Process? Answer : In Amazon’s original operations design the push/pull boundary existed betwixt the retailer (Amazon) and their distributor. Amazon ordered product from the distributor and the customer order arrived. Today, Amazon has six warehouses where it stocks an inventory of items it is confident that will sell. In this scenario, the push/pull boundary exists between the customer and the retailer. All supply chain processes can be broken down into four process cycles that connect the five stages of the supply chain; the customer order cycle, the replenishment cycle, the manufacturing cycle, and the procurement cycle. The customer order cycle connects the customer with the retailer; this connection is made as the book, perhaps Supply Chain Management, is selected and paid for by the customer. Processes in the pull phase are the order fulfillment, shipping, customer returns, and customer billing. Processes in the push phase are production, stock replenishments, shipping, and payment. B. How do you characterize the competitive strategy of high end dept. store chain Such as Nordstrom? What are the key customer needs that Nordstrom aims...
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...Chapter 1 Lecture Notes Chapter theme: This chapter describes the larger business environment within which management accounting operates. It is divided into nine sections: (1) globalization, (2) strategy, (3) organizational structure, (4) process management, (5) the importance of ethics in business, (6) corporate governance, (7) enterprise risk management, (8) corporate social responsibility, and (9) the Certified Management Accountant. I. Globalization 1 A. Import/Export Data i. 2 Imports into the United States (in billions) 1. The data reveal an enormous increase in import activity from 1995 to 2007. In particular, imports from Canada, Mexico, and China skyrocketed. ii. Exports from the United States (in billions) 1. The data reveal an increase in exports to Canada and Mexico. Interestingly, the increase in exports to China pales in comparison to the growth rate in imports from China. iii. 4 Internet Usage 1. The internet fuels globalization by providing companies with greater access to 1 3 4 geographically dispersed customers, employees, and suppliers. 2. While the number of internet users continues to grow, as of 2008, more than 78% of the world’s population was still not connected to the Internet. This suggests the Internet’s impact on business has yet to fully develop. II. Strategy A. Definition 5 i. A strategy is a ―game plan‖ that enables a company to attract customers by distinguishing itself from competitors. B. Customer value propositions i....
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...Chapter 1 Managerial Accounting and the Business Environment Lecture Notes Chapter theme: This chapter serves four main purposes. First, it explains the differences and similarities between financial and managerial accounting. Second, it describes the role of management accountants in an organization. Third, it explains the basic concepts underlying Lean Production, the Theory of Constraints (TOC), and Six Sigma. Fourth, it discusses the importance of upholding ethical standards. I. Globalization A. Import/Export Data i. Imports into the United States (in billions) 1. The data reveal an enormous increase in import activity from 1990 to 2004. In particular, imports from Canada, Mexico, and China skyrocketed. ii. Exports from the United States (in billions) 1. The data reveal an increase in exports to Canada and Mexico. Interestingly, the increase in exports to China pales in comparison to the growth rate in imports from China. iii. Internet Usage 1. The internet fuels globalization by providing companies with greater access to geographically dispersed customers, employees, and suppliers. 2. The number of internet users more than doubled during the first four years of the new millennium. 3. As of 2004, more than 87% of the world’s population was still not connected to the Internet...
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...Tessa Pittman Business 620 Supply Chain Management Professor Young Liberty University Supply Chain Management I. Definition and reasons for the rapid growth of logistics II. Managing Supply Chain III. Different disciplines of Supply Chain Definition and Reasons for the rapid growth of Supply Chain Supply chain management also known as logistics, can be defined as the involvement of the management of information and how that information flows between and among stages in a supply chain to maximize total supply chain effectiveness and profitability. There are four basic components of supply chain management. They are as follows: 1. The supply chain strategy, which is the strategy for managing all the resources required to meet the demands for products and services. 2. Supply chain partners which encompasses of the partners chosen to deliver the finished products. 3. Supply chain operation and this is the schedule for production activities, and 4. Supply chain logistics which is the product delivery processes and elements. Supply-chain management also refers to merging at the corporate level of purchasing, transportation, warehousing, distribution, and customer service functions, rather than dealing with each of them separately at division levels (Salvatore, 2012, p.338). Supply chain management in general can be described as...
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...associated risk within the Supply Chain Author: Mathijs Cornelis van Itterzon What are the consequences of a tsunami in Japan, with respect to the price of Apple stocks? If we ask a regular person this question, one may answer that it doesn’t have that much influence at all. Mainly because people have never heard of the company ShinEtsu, which is responsible for manufacturing thin silicon wafers for Apples products (Der Spiegel, 2011). What many people do not know is that when this Japanese manufacturer has been overwhelmed by a natural disaster risk of stock-out may appear and may harm other partners within the supply chain. One of the major customers is Foxconn in Taiwan which manufacturers Apple’s iPhone and iPad. Still we rely that Apple controls their supply chain well in order to produce sufficient iPhones for the market. Taiwan’s Foxconn is able to produce the iPhones and iPad due to the efficient and ‘justin-time’ delivery from the Japanese manufacturer. Natural disasters like the tsunami in Japan may disrupt the continuity in the supply chain with all the associated consequences. Risk management and mitigation strategies are suitable solutions, which may prevent a supply chain breakdown because one will get insight in high-risk situations, such as the situation in Japan and hence consider how to reduce the associated consequences (Chopra & Sodhi, Managing Risk to Avoid Supply Chain Breakdown, 2004). The current globalization of supply chains may have increased the...
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...Toyota Recall: Five Critical Lessons Posted by Michael Connor • January 31, 2010 • Printer-friendly by Michael Connor Toyota’s announcement of a technical fix for its sticky gas pedals – which can lead to sudden acceleration problems - is not likely to bring a quick end to the company’s current recall nightmare. Having already halted sales and production of eight of its top-selling cars in the U.S. - and recalled more than 9 million cars worldwide, in two separate recalls – Toyota faces the prospect of billions of dollars in charges and operating losses. The Toyota brand, once almost synonymous with top quality, has taken a heavy hit. While all the facts are not yet in, it’s clear that Toyota’s crisis didn’t emerge full-blown overnight. Fixing the problem and ensuring that something like it doesn’t happen again will require an all-out effort, from assembly line to the boardroom. Even then, there are no guarantees. Maintaining a good corporate reputation in the 21st century is tricky business indeed. Toyota’s case offers a number of valuable lessons for other business people and companies to consider. Here, for starters, are five: Aggressive growth can create unmanageable risk. Toyota’s desire to supplant General Motors as the world’s number-one car-maker pushed it to the outer limits of quality control. “The evidence that Toyota was expanding too much and too quickly started surfacing a couple of years ago. Not on the company's bottom line, but on its car-quality ratings...
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...competitive markets * There is no need to do anything. If you are on the left hand side of k*, the economy will grow. * True only for perfect competitive markets meaning * If needed human capital is available at any scale and quantity (no role for human capital in the Solow model though because we always divide everything by population) * There is a possibility of technology transfer * Government provides essential services * No need for development policy * Because again a country grows naturally if it’s on the left of k* and all countries converge to the same point But no evidence of convergence * Regressions: yes, but shaky * There was evidence of regressions, initial wealth was negatively related to GDP growth but we saw that the regressions were subject to many problems like OVB, reverse causality * Historical growth 1960-1990 * World: 1.7% (double after 43 years) * East Asia: 3.3% (double after 23 years) * South Asia: 1.9% (double after 38 years) * Sub-Saharan Africa: 0.2% (double after 348 years) Difference between OECD and rest of the world: * Convergence in graph b (OECD sample). Low initial wealth, high growth rate. * But in the rest of the world, there is no convergence or negative relationship between initial wealth and GDP growth. Rather, there is a positive relationship meaning the richer you are, the higher your growth rates. Growth Convergence and Absolute Income Divergence...
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...Unit Outline | Supply Chain Management| MKTG3308| | | Semester 1Crawley| | Sharon Purchase| Business School www.business.uwa.edu.au Insert document version showing unit code/location/your initials/date, eg Statistics 160 on-campus, prepared by Jane Smith on Sep-21 would become 530160/Crawley/JS/20.11.08.| | All material reproduced herein has been copied in accordance with and pursuant to a statutory licence administered by Copyright Agency Limited (CAL), granted to the University of Western Australia pursuant to Part VB of the Copyright Act 1968 (Cth).Copying of this material by students, except for fair dealing purposes under the Copyright Act, is prohibited. For the purposes of this fair dealing exception, students should be aware that the rule allowing copying, for fair dealing purposes, of 10% of the work, or one chapter/article, applies to the original work from which the excerpt in this course material was taken, and not to the course material itself.| © The University of Western Australia 2009| Contents UNIT DESCRIPTION 1 Introduction 1 Unit content 1 Learning outcomes 1 CONTACT DETAILS 1 TEACHING AND LEARNING RESPONSIBILITIES 2 Teaching and learning strategies 2 Charter of student rights and responsibilities 2 Teaching and learning evaluation 2 ASSESSMENT MECHANISM 3 Assessment mechanism summary 3 Assessment details 3 Standard of Assessment 6 Special Consideration and Deferred Exams 7 Supplementary Assessment 8 Ethical...
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...Unit Outline | Supply Chain Management| MKTG3308| | | Semester 1Crawley| | Sharon Purchase| Business School www.business.uwa.edu.au Insert document version showing unit code/location/your initials/date, eg Statistics 160 on-campus, prepared by Jane Smith on Sep-21 would become 530160/Crawley/JS/20.11.08.| | All material reproduced herein has been copied in accordance with and pursuant to a statutory licence administered by Copyright Agency Limited (CAL), granted to the University of Western Australia pursuant to Part VB of the Copyright Act 1968 (Cth).Copying of this material by students, except for fair dealing purposes under the Copyright Act, is prohibited. For the purposes of this fair dealing exception, students should be aware that the rule allowing copying, for fair dealing purposes, of 10% of the work, or one chapter/article, applies to the original work from which the excerpt in this course material was taken, and not to the course material itself.| © The University of Western Australia 2009| Contents UNIT DESCRIPTION 1 Introduction 1 Unit content 1 Learning outcomes 1 CONTACT DETAILS 1 TEACHING AND LEARNING RESPONSIBILITIES 2 Teaching and learning strategies 2 Charter of student rights and responsibilities 2 Teaching and learning evaluation 2 ASSESSMENT MECHANISM 3 Assessment mechanism summary 3 Assessment details 3 Standard of Assessment 6 Special Consideration and Deferred Exams 7 Supplementary Assessment 8 Ethical...
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...technologies organizations may reduce the APT threat. Advanced Persistent Threats Against RSA Tokens Advance persistent threat has become one of the most dangerous and damaging threat to hit the security arena. APTs are highly adaptable and are usually customized for each attack targeting vulnerabilities, system flaws and even humans with social engineering, spoofing, whaling and spear phishing. APTs are usually an attack against governments, military, political targets, private sector organizations and corporations [ (Curry, et al., 2011) ]. Being able to defend your network and detecting intrusions has become vital. Vulnerabilities APT attacks often use subversive methods to prevent detection. APT attacks are carried out over a long period of time and are planned in advance. Attackers spend a long time planning the attack be it social engineering or searching for access through the supply chain [ (Curry, et al., 2011) ]. Once an attacker gains access to his target network they can go undetected while they snoop around searching for the intended target. Hackers could be after an organization’s top secret information. With social engineering an easy target attackers often gain access through an employee’s account and piggyback their privileges and resources [ (Curry, et al., 2011) ]. Doing this allows the attacker time to search the network and plan an attack method of the target. Attack methods What attack methods were successful and why. The attackers...
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...Unit Outline | Supply Chain Management| MKTG3308| | | Semester 1Crawley| | Sharon Purchase| Business School www.business.uwa.edu.au Insert document version showing unit code/location/your initials/date, eg Statistics 160 on-campus, prepared by Jane Smith on Sep-21 would become 530160/Crawley/JS/20.11.08.| | All material reproduced herein has been copied in accordance with and pursuant to a statutory licence administered by Copyright Agency Limited (CAL), granted to the University of Western Australia pursuant to Part VB of the Copyright Act 1968 (Cth).Copying of this material by students, except for fair dealing purposes under the Copyright Act, is prohibited. For the purposes of this fair dealing exception, students should be aware that the rule allowing copying, for fair dealing purposes, of 10% of the work, or one chapter/article, applies to the original work from which the excerpt in this course material was taken, and not to the course material itself.| © The University of Western Australia 2009| Contents UNIT DESCRIPTION 1 Introduction 1 Unit content 1 Learning outcomes 1 CONTACT DETAILS 1 TEACHING AND LEARNING RESPONSIBILITIES 2 Teaching and learning strategies 2 Charter of student rights and responsibilities 2 Teaching and learning evaluation 2 ASSESSMENT MECHANISM 3 Assessment mechanism summary 3 Assessment details 3 Standard of Assessment 6 Special Consideration and Deferred Exams 7 Supplementary Assessment 8 Ethical...
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...UMS University of Modern Sciences Project: Toyota’s Business Environment and its Recall Policy Toyota Motor Corporation is Japan’s number one carmaker. Toyota has international presence in over 170 countries worldwide. It manufactures cars, pickups, minivans, and SUVs include models such as Camry, Corolla, 4Runner, Land Cruiser, Sienna, the luxury Lexus line, and full-sized pickup trucks. It has huge financial strength, a sales turnover of 131,511 million for 1997 and sales growth of 29.3%. It is the second largest car manufacturer in the world, after General Motors. Some of the key reasons for its success include: Successful brand - Toyota has developed a trusted brand based on quality, good performance and for being environmentally friendly. Innovation - Toyota is at the forefront of car manufacturing innovation. It was the first car manufacturer to embrace lean manufacturing (known as Toyota Production System) which is a faster, more efficient process which leads to less waste compared to the traditional batch and queue method of manufacturing. It also applied JIT (Just in Time manufacturing) and smart automation. Product Development - Key to the success in the car market is new models which stimulate demand and loyalty to the Toyota brand. Toyota has reputation for producing cars which are greener, more fuel efficient, and of good performance. Toyota has sought to meet government requirements (for reducing the impact on the environment), economic...
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...Enhancing Competitiveness: Moving from Supply Chain to Demand Chain Management Dr. Pankaj M. Madhani Introduction Supply chain involves all activities associated with the flow and transformation of goods as well as the related information flows from the raw material stage, through to the end user. Supply chain is defined as the integration of key business processes from customers through original suppliers that provide products, services, and information that adds value for end users and other stakeholders. Here, a supply chain includes all the value chain processes from suppliers to end customers. As such supply chain comprises all the supply processes necessary to fulfill customer demand and is managed within supply chain management (SCM). SCM can be defined as “the management of upstream and downstream relationships with suppliers and customers in order to create enhanced value in the final market place at less cost to the supply chain as a whole” (Christopher, 1998). Hence, SCM refers to all of the processes, technologies, and strategies that together form the basis for working with internal as well as external sources of supply. As SCM focuses on the efficient matching of supply with demand it does not help the firm to find out what the customer perceives as valuable, and how this customer-perceived value can be translated into customer value propositions. Hence, supply chain efficiency by itself will not increase customer value and satisfaction as firms...
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...5/19/13 Toyota Recall: Five Critical Lessons | Business Ethics You are here: Home » Business Ethics, Economy, Featured Story, Michael Connor, Recent Stories, Regulation & Legislation » Toyota Recall: Five Critical Lessons Toyota Recall: Five Critical Lessons Posted by Michael Connor • January 31, 2010 • Printer-friendly by Michael Connor Toyota’s announcement of a technical fix for its sticky gas pedals – which can lead to sudden acceleration problems - is not likely to bring a quick end to the company’s current recall nightmare. Having already halted sales and production of eight of its top-selling cars in the U.S. - and recalled more than 9 million cars worldwide, in two separate recalls – Toyota faces the prospect of billions of dollars in charges and operating losses. The Toyota brand, once almost synonymous with top quality, has taken a heavy hit. While all the facts are not yet in, it’s clear that Toyota’s crisis didn’t emerge full-blown overnight. Fixing the problem and ensuring that something like it doesn’t happen again will require an all-out effort, from assembly line to the boardroom. Even then, there are no guarantees. Maintaining a good corporate reputation in the 21st century is tricky business indeed. Toyota’s case offers a number of valuable lessons for other business people and companies to consider. Here, for starters, are five: Aggressive growth can create unmanageable risk. Toyota’s desire to supplant General Motors as the world’s number-one car-maker...
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