...leadership, the ability and willingness for each member to work together and the capability of the group to solve problems. In the following composition, we will examine the dynamics of your organization and explore ways to improve the productivity of the group. The distribution center is an integral part of any organization. A DC (Distribution Center) operates as an expense center and does not have the ability to generate any profit on its’ own. The building is given an allotted budget for the year and is responsible for staying within the parameters of that budget. Many different factors can affect a building’s ability to successfully meet that budget and productivity is one of the biggest ones. Productivity obviously drives the number of cartons that are processed and the more that are processed, the better that is for the budget. Wage hours are also directly impacted by productivity. If each teammate has high productivity, it will take less wage hours to accomplish the volumes than the budget allows for. There can also be a downside of high productivity, too. The faster a team travels the more potential...
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...ROSS DOGGY CARE MARKETING PLAN Student: Jackelinne Bartel Professor: Andrew Moore Class: Marketing Management MARKETING PLAN OUTLINE 1. Executive Analysis 2. Situation Analysis 2.1 Market Summary 2.2 SWOT Analysis 2.3 Competition 2.4 Product (Service) Offering 2.5 Keys to Success 2.6 Critical Issues 3. Marketing Strategy 3.1 Mission 3.2 Marketing Objectives 3.3 Financial Objectives 3.4 Target Marketing 3.5 Positioning 3.6 Strategy Pyramids 3.7 Marketing Mix 3.8 Marketing Research 4. Financials, Budgets, and Forecasts 4.1 Break-even Analysis 4.2 Sales Forecast 4.3 Expense Forecast/Promotional Budget CONCLUSION REFERENCES Executive Summary Ross Doggy Care is a dog foster-family arrangement in Rossy Sloth's home. Customers are able to leave their dog at the Sloth's home when they go on vacation. The dog is surrounded by people all day, have their own bed, are taken for walks twice a day, and have a one acre fenced backyard to explore. Ross Doggy Care is a superior alternative to a kennel because the dogs get attention all day, have plush facilities, and have ample opportunities to exercise. The guest dogs will typically even sleep in the children's rooms (in the bed under the sheets if they choose). Basically, the dogs become a temporary member of the household. Ross Doggy Care is able to offer this specialized attention because they are equipped to handle only eight dogs at once. Ross Doggy Care will compete directly...
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...produce a product. It plays an important role in the business to predicting the profitability of a product. Traditional costing is also well known as the conversional method costing, which refers to the allocation of manufacturing overhead costs to the product manufactured (Harold, n.d.). Traditional costing assigns manufacturing overhead on the basis of volume of a cost driver, such as direct labor hours, production machine hours or direct material hours, all of which are needed to produce an item and the number of units produced. Different from activity- based costing, traditional costing is emphasis on costing information of external financial report in the business, because it provides the value of cost of goods sold. Many manufacturing companies use traditional costing system in order to divide the total cost of a product by the direct labor cost. Generally, the traditional costing method users make the assumption that the volume metric is the underlying driver of manufacturing overhead cost. Hence, under traditional costing method, accountants regard manufacturing costs only to product. Whereas, some cost such as administrative expenses are allocated as non-manufacturing cost and they are also associated with product of an item, which still cannot be assigned into traditional costing method. ABC concept ABC system is used for the internal decision making in the business. It helps managers with decisions which may have possibly impacts on the fixed costs and the variable costs...
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...non-tax deductible expenses, the partnership may show taxable income, but have no cash. Each individual will have to pay taxes on the taxable income from the partnership reported on the individual’s tax return; even though no income is distributed to the partner from the partnership. PROS * In a general partnership, where two or more parties are co-owners, having multiple owners can make it easier to borrow additional funds because the combined credit rating is higher and the perceived risk (on the part of the lender) is lower. * Partners share duties, tasks, and responsibilities. * In a limited partnership, where an investor’s responsibilities are limited by their investment, you can raise capital while retaining the majority of decision making rights. (Silent partners have no decision-making rights.) * Unlike a loan, the investments is only repaid when the company profits. CONS * Partners are liable for debts and other claims including the debts of...
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...There are several approaches that may be used to develop the budget. Managers typically prefer an approach known as participative budgeting. Discuss this form of budgeting and identify its advantages and disadvantages. Ans. Also called bottom-up budgeting or self-imposed budgets, where the initial flow of budget data moves from lower levels of responsibility to higher levels of responsibility. Each person with responsibility for cost control will prepare his or her own budget estimates and submit them to the next higher level of management. These estimates are reviewed and consolidated as they move upward in the organization. Budget estimates prepared by lower-level managers should be scrutinized by higher levels of management. Without such a review, participative budgets may be too loose and allow much "budgetary slack." The result will be inefficiency and waste.. Advantages: 1. Individuals at all level of the organization are recognized as members of the team whose review and judgments are valued by top management. 2. Increase feeling of unit-level ownership in the budget 3. Leads to greater support for the budgetand a greater understanding of goals 4. Greater accuracy of budget estimates. Budget estimates prepared by front line managers can be more accurate and reliable than estimates prepared by top managers who are removed from day to day activities and who have less intimate knowledge of markets and operating conditions...
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...1. Executive Summary 1.1 Business Introduction Cocoa Delights has been known to be a youngest gourmet chocolate manufacturers in early 21st century. Founded in 2000, cocoa delights has 15 stores chain in Melbourne, Australia in 2015. Product line includes Australian made highest quality chocolates with wide varieties. 1.2 Mission Statement Cocoa Delights is committed to becoming the leader in the Australian market for premium quality chocolate and maintaining a company culture which fosters and encourages continuous improvement. Our mission is to provide Australian consumers with the highest quality chocolate on the market whilst maintaining the promise to trade fairly with both local and overseas suppliers, promoting sustainable behavior and reducing our ecological footprint. 1.2.1 Dimensions of Mission statements and purpose By reviewing Marketing plan of December 2010, I received key marketing objectives to understand company’s mission purpose and vision. According to plan, a mission should: 1. To increase revenue by 6% yearly over the next three years. 2. To become the gourmet chocolate market leader within five years. 3. To become established as the national retailer of choice for chocolate connoisseurs within the next three years. 4. To increase our share of the dark chocolate market by 15% over the next three years. 5. Establish Cocoa Delights as Australia's most respected chocolate maker. 1.2.2 Strategic...
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...Situation Analysis The Creature Nannie is in their first year of operation. The service has been well received and marketing is now critical to its continued success and future profitability. The Creature Nannie offers the finest foster care for canine companions. The basic market need is a place to leave your dog when you travel that is a loving, caring environment that the dog will look forward to. Market Summary The Creature Nannie possesses good information about the market and knows a great deal about the common attributes of our most prized and loyal customers. The Creature Nannie will leverage this information to better understand who is served, their specific needs, and how The Creature Nannie can better communicate with them. Market Analysis 2001 2002 2003 2004 2005 Potential Customers Growth CAGR Dog Owners 9% 17,876 19,485 21,239 23,151 25,235 9.00% Other 0% 0 0 0 0 0 0.00% Other 0% 0 0 0 0 0 0.00% Total 9.00% 17,876 19,485 21,239 23,151 25,235 9.00% Market Needs The Creature Nannie provides foster care for dogs in the Eugene area. The dogs get to stay in the Sloth's home with a one acre fenced in yard to roam. The Creature Nannie seeks to fulfill the following benefits that are important to their customers. Selection--The Creature Nannie provides many options for dog owners. Accessibility--The Sloth's home is located in Eugene and operating hours for drop off and pick up are quite flexible. Customer service--The patron will...
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...Hong Kong Budget Airline Industry Analysis By Jaeyeong Ahn 1155032046 Xie Jianting 1155001899 Shi Weiran 1155002072 Tan Jiayi 1009609441 Gao Jingya 1155001997 TABLE OF CONTENTS 1. Introduction 2. Budget Airline Industry 2.1 Definition & Pricing Model 2.2 Common Practices to Lower Overall Costs 2.3 Development of Budget Airline in America, Europe and Asia 3. Hong Kong Market Analysis 3.1 Competitive Landscape 3.2 Major Budget Airlines in Hong Kong 3.3 Market Analysis 3.4 Target Customer Analysis 4. SWOT Analysis of Budget Airlines 4.1 Strengths 4.2 Weaknesses 4. 3 Opportunities 4.4 Threats 5. Analysis of Success Factors in Budget Airline Industry 5.1 AirAsia’s Success in Asia 5.2 Oasis’s Failure in Hong Kong 6. Conclusion 1. Introduction In September 2013, Hong Kong Express Airways announced its plan to transform itself into a budget airline. Meanwhile, Jetstar, an Australian budget airline, has applied for an operating license in Hong Kong under the belief that there are abundant opportunities for growth in the budget airline industry. However, Hong Kong-based airlines Cathay Pacific and Dragonair strongly insist that the market is saturated, and that new entrants into the market will harm the airline industry as a whole. The purpose of this report is to analyze the prospect of budget airline industry in Hong Kong and to determine if...
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...indiscriminate across-the-board budget cuts are imposed on government programs to force reductions in spending and meet budgetary goals established by statute. If sequestration does occur, $1.2 trillion in budget cuts will begin on January 2, 2013, and continue through the following nine years (FY 2021). Generally, sequestration spending cuts are divided equally between eligible defense and non-defense programs. There are, however, some domestic entitlement programs – Social Security, federal retirement programs and Medicaid – that are exempt from sequestration budget cuts. In addition, the Government Accountability Office (GAO) issued a decision on May 21, 2012, extending exemption from sequestration to U.S. Department of Veterans Affairs (VA) spending. In issuing its decision, the GAO determined that the Statutory Pay-As-You-Go Act of 2010 exempted VA spending – with the exception of limited administrative expenses – from the impact of sequestration by overruling language within the Balanced Budget and Emergency Deficit Control Act of 1985, which limited cuts on veterans’ medical care to 2%. The GAO decision affirmed an April 2012 opinion by the Office of Management and Budget (OMB) which similarly concluded that sequestration budget cuts do not apply to VA spending. While not exempt from sequestration, other programs are limited to a fixed percentage of cuts; Medicare cuts, for example, are limited to 2%. It is also important to remember that the Budget Control Act of 2011...
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...STANDARD OPERATING PROCEDURE introduction 1981 Delima enterprise was founded by Encik Zayed in conducted trading and supplying related product including manpower supplies to oil and gas industries. 2004 - Delima Enterprise incorporated as Delima Enterprise Sdn. Bhd. - 2 principal shareholder and controlling directors : Encik Zayed and Puan Hashimah (Husband and wife) 2006 - Company submitted application for banking facilities and required company’s Audited Financial Statements for the last 2 years. - There are so much mistake happened during the last two years founded by the auditor and Cik Amy (Finance Executive) ANALYSIS : Choose to develop in-house accounting system or outsourcing the system EVIDENCE: In survey 73% of company outsourced some or all of their information system and most outsourced to several companies to increase flexibility, foster competition and reduce cost SOLUTION : Outsourcing (purchase)the integrated system such as SAP software,UBS. ANALYSIS : Choose to implement manual or auto pre number document & record keeping. EVIDENCE: As for big company,SimeDarby Bhd they have a proper documentation with...
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...divisions it has become very difficult to provide data migrations, network support, technical support, and training. Management has also determined that technical solutions need to be implemented in order to stay competitive. Several of their competitors have implemented ERP with integrated CRM solutions. Additionally their competitors have begun to implement eBusiness solutions which allow for web based supply ordering, service call entry and meter click reporting. The current technological environment of Bandon Group, Inc. is severely fragmented, which makes it virtually impossible to migrate towards an eBusiness solution (Summer, 2005). Step 8: Determine feasibility of an ERP system An ERP system facilitates database control in a company, which allows the data transfer process to be uniform and united throughout the various divisions and departments. The foremost advantage of an ERP system is bringing down the costs and saving the valuable time which would have otherwise been wasted in procedural maneuvers and unwanted delays (Info Entrepreneurs, 2009). ERP is a merger of three important components; business management practices, information technology and specific business objectives....
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...Singh Michelle Roshanzamir 1. Problem statement Mekanism began as a small production shop that ad agencies hired to create digital media content for their clients. Over time, Mekanism evolved into a creative production company with expertise in making content go viral. Between the years of 2008 and 2010, using its storytelling creative approach coupled with a multifaceted social-media distribution system, Mekanism proved to be successful in many viral campaigns. With consumers’ ability to skip ads and the changing media landscape, more-and-more clients seemed willing to take a chance with viral advertising. Viral marketing was initially sought out by small advertisers, because of its promise to reach millions of consumers quickly and cheaply. After seeing the success of viral marketing, major advertisers began to use this promotional tool. As Mekanism began taking in business from big-name brands like Pepsi, Nike, and Microsoft, the company started to flourish, experiencing 32% year-over-year average growth from 2007 to 2010. Yet in 2010, the firm only grew 10% in billings with fewer new clients signing on with the company. This lack of potential growth made it apparent that Mekanism needed change. In order to sustain the growth of their company and fend off competition, upper management needs to define their next step. Should they stay with what is working, and mainly focus on viral marketing, or should they embrace other traditional content and media, effectively ...
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...process A budget is a financial document used to project future income and expenses. For manufacturing, budget show the predict finance about the number and the estimate cost of all items which related in production such as: overhead cost, material, labor, revenue, expenses, assets, liabilities, etc. From these predictions, it can help company picturing out the future cost and profit. The budgeting process may be carried out by individuals or by companies to estimate whether the company can continue to operate with its projected income and expenses. Purpose and advantages Budgets play an important role in the manufacturing and production process because companies will allocate each production cost to products. Spending too much money on specific activities will raise individual product costs, requiring companies to charge consumers for inefficient operations[1]. There are seven main purpose of budget. Firstly, budget can ensure the achievement of organizational objectives and push organizational planning. The reason is that a performance budget is a strategic tool that enables a company to win the competitive game. Moreover, a budget is basically a money plan, outlining company financial goals. Having a budget, company can well establish and regulate funds, set and achieve company financial objectives, and make advance decisions as to how company want company finances to function well for company. The main idea in budgeting is for company to put aside...
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...Proposal to Board of Directors A Little Cup of Joe Introduction to the Proposal’s Purpose and Content A Little Cup of Joe Corporation is a medium-sized manufacturing company with 250 employees. It directly markets one product: a unique coffee cup with a patented ball bearing sliding mechanism. Nathan Jr. and a group of 10 other executives run the company. A Little Cup of Joe Corporation has received a large sum of money from a venture capitalist. The venture capitalist and Nathan Jr. are predicting 100 percent growth in five years. To achieve that growth, productivity will need to increase at a similar rate. Therefore, this proposal provides a suggested business model update. Further, the functional areas updates are indicated to assist the business model to predict, plan, and implement future growth and profits. In this proposal, the problem of the outdated business model and functional areas is addressed with new ideas and new employees to implement them. The 100 percent growth projection in five years can become a reality with the managers’ ideas about these questions: Executive Summaries The Accounting and Finance Area is one of the main parts of A Little Cup of Joe. Having A Little Cup of Joe accounting in top shape all year round will help the business function smoothly and provide grounds for sound and promising business decisions. By accomplishing this A Little Cup of Joe will hiring experience and ethical accounting...
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...But at the same time, being a capital and technology intensive industry, it poses severe challenges in front of potential players. INDUSTRY ANALYSIS- (PORTER’S FIVE FORCES) Threat of New Entrants-Low There are high entry barriers due to high R&D investment, sophisticated technology and difficulty in financing because of very high capital intensiveness. But positive economic growth and long range forecast in emerging economies are attracting new players to enter despite huge entry barriers. Cost efficient carriers from China and other economies like Mexico and Russia are trying to sabotage the duopoly. Threat of Substitutes-Low to Medium There are not so many direct substitutes and other options like high speed rail are there but very limited in availability and used for rather short distances. For very long distances, air travel is still preferred. Also, uniqueness in design and technology of each aircraft limits the number of substitutes available but with new players coming into the picture, this...
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