...Codman & Shurtleff, Inc. Introduction and Issues Codman & Shurtleff was launched in 1838, focusing on the design and fabrication of surgical supplies. Years later, Johnson & Johnson acquired it in 1964. Today, Codman & Shurtleff, Inc. is still one of many subsidiaries of Johnson & Johnson. It continues to supply the medical profession with surgical tools, equipment, implants, disposable materials and many other medical supplies. This case discusses the planning and control system of Codman & Shurtleff, Inc. It focuses on the reporting relationships, five and ten-year plans, financial planning, and budget revisions and reviews. One major issue is that the company is dealing with an unfavorable profit objective. They are currently two million dollars short of their projection for the year. The weakening of the dollar, a poor mix variance and unexpected high start-up costs have all contributed to the underperformance of the company. In order to understand the position of Codman & Shurtleff, this paper will analyze the culture and the organizational structure of Johnson & Johnson, as well as Codman & Shurtleff. It will also analyze how well the company coordinates their financial planning and what problems they may encounter as the company implements changes in order to adhere to the corporate mission statement. Analysis The Culture of Codman & Shurtleff, Inc. / Johnson & Johnson Per the case, when Johnson & Johnson acquired Codman, they...
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...Johnson & Johnson relies on decentralized management system and its autonomous operating subsidiaries to compete in high-competitive health care markets. The planning and control system has benefits and detriments. The system creates a decentralized culture which is necessary for their success. The center of the control function is the Executive Committee comprising the chairman, president, chief financial officer, vice president of administration, and eight Executive Committee members with responsibilities for company sectors. In some ways, each subsidiary reports to a member of the Executive Committee. However, each company develops its own plans and strategies. In addition, those strategic plans remain fixed over a five-year period. Therefore, the managers are not only effectively delegated but also strongly accountable for their actions. They set their targets by themselves. Then, they move toward the goals based on their own decisions. So, there is no excuse for them to miss the objectives. That’s why Roy Black states that decentralized management is “unequivocal accountability for what you do.” Five- and Ten-year plans at Johnson & Johnson let them have long-term views and learning opportunities. It is in the fast-moving, complex, high competitive health care businesses. It is hard to make a prediction for the future and so the view point is likely to be short-tem focus. It might have adverse effect on long-term corporate performance. At Johnson & Johnson...
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...CODMAN & SHURTLEFF : Planning and control system Introduction Define the situation. JJ and CD .. The teams, etc 1. The Johnson & Johnson planning and control system efficiency Definition : Management & Control System Management control system can be defined as a critical function in organizations. (K. A Merchant & Wim A. Van Der Stede, 2007). In other words, it can also be described as the process by which an organization secures to achieve its performance. Major roles of control systems - Motivate organisation members to act consistently with organizational objectives - Integrate the different parts of an organisation - Proper interchange/flow of information within the organization - Enable strategic plans implementation (L.D. Benyayer, 2014) Evaluate the planning and control system use at Johnson & Johnson Strengths - Decentralized Management o Decentralization, split by business unit – easier to control and have a better view of each unit o All subsidiaries report directly to executive committee members. o Subsidiaries are managed by locals, which enables the organization to gain proper knowledge of the local market, cultural affinity, norms and values. o Each director has to analyze their own business unit strategy and is in charge of monitoring. Allows them to get a grasp of the bigger picture instead of solely working through their day-to-day activity. - Long term approach...
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...The George Washington University School of Business MANAGERIAL ACCOUNTING Course Syllabus Professor Yun Zhang Phone: 202-994-7532 Suite 601-C Funger Hall Email: yunzhang@gwu.edu 2201 G Street NW Washington DC 20052 Course Introduction Managerial accounting is concerned with the use of accounting data by managers to plan and control (evaluate) personnel and operations of the firm. The focus is on planning, decision-making, and control by the organization and on the accounting systems that managers have to assist them in their decisions about resource allocation and performance evaluation. The course is intended as an introduction for individuals who will make business decisions, evaluate business units, and evaluate others (or be evaluated) through the use of accounting systems. The course will be loosely divided into two topics: cost management systems and managerial control systems. Each topic is briefly described below. Cost Management Systems: The objective of the cost management system is to provide information about the costs of the goods and services sold by the firm. While financial accounting requires that product cost information be accumulated in particular ways for external reporting, the focus in the course will be on cost systems that aid managerial...
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...* Wal-Mart Plastic Bags FUNSAM es la empresa que le distribuye bolsas plásticas a Wal-Mart, Por otra parte en su proceso de producción reciclan el recorte, que viene a ser un 8 %. En el mismo momento que sale del proceso de fabricación se mete a la recicladora y vuelve a ingresar a la máquina. FUNSAM posee una capacidad de almacenaje en los silos de 300 toneladas, el material viene a granel. * Pedido: Walmart realiza el pedido a funsam. * Extrusión: Una vez que los detalles de la bolsa están totalmente definidos con el cliente, el pedido pasa a extrusión, primer paso en la cadena de transformación de la granza de polietileno en una bolsa o film de plástico, Como insumo principal en el proceso utilizan resina de alta densidad de la cual un 90% es Alathon L5005 del fabricante Lyondell-Equistar y el 10% restante es E-924 de Formosa, directamente importado del fabricante. El uso de Master Batch es garantizado a una concentración del 70% de TIO2 (Dióxido de Titanio). * Comprobación de programación y materiales: se comprueban las mezclas de material y aditivos necesarios para conformar el pedido: alta o baja densidad, con o sin polietileno lineal, deslizante o antideslizante, con o sin pigmento de color, superficie porosa o lisa, etc. * Pigmentación: La granza de polietileno es transparente, por lo que es necesario añadirle pigmento para conseguir el color deseado en el material. El pigmento se mezcla con la granza en las tolvas de las extrusoras. Se añadirá...
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...| Johnson & JohnsonSubmitted to:Submitted by: Date: 31st December, 2014 | | | | | | | | Index Particulars | Pg.Nos. | Introduction(about co., credo, history, subsidiary holdings, product) | 03 | Strategic framework | | Environmental analysis(PESTEL,Porter,SWOT,competitor, value chain) | | Business level strategy | | Corporate level strategy | | Strategic acquisitions | | Corporate governance | | References | 12 | Introduction Johnson & Johnson is an American multinational pharmaceutical, medical devices, and consumer packaged goods manufacturer founded in 1886. It is headquartered in New Brunswick, New Jersey and being listed among the Fortune 500. The corporation includes some 250 subsidiary companies with operations in over 57 countries and products sold in over 175 countries. Johnson & Johnson and its subsidiaries (the Company) have approximately 128,100 employees worldwide engaged in the research and development, manufacture and sale of a broad range of products in the health care field. The Company conducts business in virtually all countries of the world with the primary focus on products related to human health and well-being. Our Credo: Credo,a deeply held set of values that have served as the strategic and moral compass for generations of Johnson & Johnson leaders. * We believe our first responsibility is to the doctors, nurses and patients, to mothers and fathers and all others who use our products...
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...Constructive Discharge Under Title VII and the ADEA Finnegan, Sheila. The University of Chicago Law Review. Chicago: Spring 1986. Vol. 53, Iss. 2; pg. 561, 20 pgs This material is copyrighted by the University of Chicago Law Review. Further electronic distribution of this material is a violation of this copyright. COMMENTS Constructive Discharge Under Title VII and the ADEA Consider two employees who are victims of sexual harrassment. The first employee is fired after she refuses to accede to the repeated sexual demands of her supervisor. The second employee is also propositioned,but considers the workingenvironmentso intolerable that she resigns before any adverse action is taken against her. Each woman then sues her employer under Title VII of the Civil Rights Act of 1964.1 Both employers may have violated Title VII.2 Even so, because of the way in which their employment was terminated the two employees may be entitled to different remedies. The first employee-who was fired-would presumptively be entitled to backpay for the wages lost after the date of firing.3In contrast, the 1 Pub. L. No. 88-352, ?? 701-716,78 Stat. 253 (1964) (codifiedas amendedat 42 U.S.C. ?? 2000e to 2000e-17 (1982)) [hereinaftercited as Title VII]. Section 703(a) of Title VII provides: (a) It shall be an unlawfulemploymentpractice for an employer(1) to fail or refuse to hire or to dischargeany individual,or otherwiseto discriminate against any individual with respect to his compensation,terms...
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...JOURNAL OF MANAGEMENT ACCOUNTING RESEARCH Volume Fifteen 2003 pp. 95–116 Practice Developments in Budgeting: An Overview and Research Perspective Stephen C. Hansen The George Washington University David T. Otley Lancaster University Wim A. Van der Stede University of Southern California Abstract: Practitioners in Europe and the U.S. recently have proposed two distinct approaches to address what they believe are shortcomings of traditional budgeting practices. One approach advocates improving the budgeting process and primarily focuses on the planning problems with budgeting. The other advocates abandoning the budget and primarily focuses on the performance evaluation problems with budgeting. This paper provides an overview and research perspective on these two recent developments. We discuss why practitioners have become dissatisfied with budgets, describe the two distinct approaches, place them in a research context, suggest insights that may aid the practitioners, and use the practitioner perspectives to identify fruitful areas for research. INTRODUCTION udgeting is the cornerstone of the management control process in nearly all organizations, but despite its widespread use, it is far from perfect.1 Practitioners express concerns about using budgets for planning and performance evaluation. The practitioners argue that budgets impede the allocation of organizational resources to their best uses and encourage myopic decision making and other dysfunctional budget games....
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...ANNUAL REPORt 2011 Johnson & Johnson will continue to bring meaningful innovations to people around the world so they can live better and healthier lives. We are deeply committed and dedicated to the people who use our products, our employees, the communities in which we live and work, and you, our shareholders. Most important, we will never lose sight of who we are. ON tHE COVER Matt Cox, who has type 1 diabetes and uses the waterproof ANIMAS® VIBE™ insulin pump, swam an English Channel relay to raise money for the Juvenile Diabetes Research Foundation. Matt wants to show his son, Jack, who also has type 1 diabetes, that the condition need not hold him back in life. Read Matt’s story on page 16. CHAIRMAN’S LETTER To Our Shareholders hroughout our annual report this year, you’ll read the severe economic decline; the tightening of consumer about how Johnson & Johnson is bringing meaningful spending and health care budgets; over-the-counter (OTC) innovation to our patients and customers, and making product quality issues at McNeil Consumer Healthcare and a difference in their lives in a personal way—from the recall of the DePuy ASR™ Hip System. Brunhilde Wecker, who made a full recovery from her stroke Our company was severely tested. thanks to our new blood clot retrieval and removal device, In managing through this stretch, we relied heavily on the resolve to our own Bill Hait, an oncologist whose vision and insights of our people and on our time-tested business...
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...New Medical Devices in the US August 13 2010 Table of Contents 1. Introduction……………………………………………………………………………………………………………………………………2 2. Background and Framework……………………………………………………………………………………………………………4 2.1 Priority Medical Devices for the Netherlands…..……………………………………………………………………4 2.2 The US Vision: From see and treat to predict and prevent……………………………………………………6 2.3 Conclusions…………………………………………………………………………………………………………………………..7 3. Medical device sector in the US………………………………………………………………………………………………………8 3.1 Economic Impact…..………………………………………………………………………………………………………………8 3.2 The Sector by State…..…………………………………………………………………………………………………………10 3.3 Key Institutes: Patent Applications in the Cluster Areas…..………………………………………………….13 3.4 Conclusions…..…………………………………………………………………………………………………………………….20 4. Turning research into novel medical devices………………………………………………………………………………….22 4.1 The Medical Device Development Process…..……………………………………………………………………..22 4.2 CIMIT: A Structure for Medical Device Innovation…..………………………………………………………….23 4.3 Stanford Biodesign: Innovation as a Discipline…..………………………………………………………………..26 4.4 Conclusions and Recommendations…..……………………………………………………………………………….28 5. Summary and Conclusions…………………………………………………………………………………………………………….30 6. Acknowledgements……………………………………………………………………………………………………………………….32 7. References…………………………………………………………………………………………………………………………………….33 Appendices A1 Selection of Key Institutes A2 Results Patent Analysis A3 Research...
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...Fordham Law Review Volume 55 | Issue 6 Article 5 1-1-1987 Constructive Discharge Under the ADEA: An Argument for the Intent Standard Ira M. Saxe Recommended Citation Ira M. Saxe, Constructive Discharge Under the ADEA: An Argument for the Intent Standard, 55 Fordham L. Rev. 963 (1987), http://ir.lawnet.fordham.edu/flr/vol55/iss6/5 This Article is brought to you for free and open access by The Fordham Law School Institutional Repository. It has been accepted for inclusion in Fordham Law Review by an authorized administrator of The Fordham Law School Institutional Repository. For more information, please contact melnick@law.fordham.edu. CONSTRUCTIVE DISCHARGE UNDER THE ADEA: AN ARGUMENT FOR THE INTENT STANDARD INTRODUCTION The Age Discrimination in Employment Act of 1967, as amended 1 (ADEA), prohibits employers2 from discriminating on the basis of age against individuals forty years of age or older.' An employer may not trine of constructive discharge,7 which occurs when the employer creates discharge4 an employee within the protected group based on his age, 5 except as provided by law. 6 In addition, the ADEA recognizes the docworking conditions so intolerable that a reasonable employee would be 1. Age Discrimination in Employment Act of 1967, Pub. L. No. 90-202, 81 Stat. 602 (1967) (codified as amended at 29 U.S.C. §§ 621-34 (1982 & Supp. III 1985)), as amended by Age Discrimination in Employment Amendments of 1986, Pub. L No. 99592, 100 Stat. 3342...
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...This page intentionally left blank Business Performance Measurement Drawing together contributions from leading thinkers around the world, this book reviews recent developments in the theory and practice of performance measurement and management. Significantly updated and modified from the first edition, the book includes ten new chapters that provide a comprehensive review of performance measurement from the perspectives of accounting, marketing, operations, public services and supply chain management. In addition to these functional analyses the book explores performance measurement frameworks and methodologies, practicalities and challenges, and enduring questions and issues. Edited by one of the world’s leading experts on performance measurement and management, Business Performance Measurement will be of interest to graduate students, managers and researchers who wish to understand more about the latest developments in this rapidly changing field. Andy Neely is Deputy Director of the ESRC/EPSRC AIM Research initiative, Professor of Operations Strategy and Performance at Cranfield School of Management, and Visiting Professor of Operations Management at London Business School. Business Performance Measurement Unifying theories and integrating practice Second edition Edited by Andy Neely CAMBRIDGE UNIVERSITY PRESS Cambridge, New York, Melbourne, Madrid, Cape Town, Singapore, São Paulo Cambridge University Press The Edinburgh Building, Cambridge...
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