...Evaluation of Corporate Performance – PetSmart, Inc. PetSmart is the largest pet retail chain that caters to all type of pet needs for the lifetime of the pet. The company employs 52,000 and currently has 1,289 stores. It also has more than 196 in-house pet hotels that specializes in boarding cats and dogs. PetSmart carries more than 11,000 products that include food, bedding, leashes, toys, training products and many books on all type of pets. PetSmart is a solid company and would be a good investment for the conservative investor. This company has a great web presence and offers over 10,000 products from their website http://www.PetSmart.com . This website offers a very convenient way for consumers to order their products online and have them delivered to their home without having to go to the physical store. This is important because not only does PetSmart have to compete with the chain stores such as WalMart and Kmart and Target, they also have to compete with online stores as well. PetSmart also has to compete with the common grocery store chains as well. PetSmart falls in the category of Specialty Stores. When evaluating this company I also had to look at the market sector that it falls into. Market Grade stated that PetSmart was ranked fifth in the Specialty Store sector. In first place was Ulta Salon, Cosmetics & Fragrance, Inc. followed by Bed Bath and Beyond, Inc. and coming in third was Winmark Corporation and in fourth place was Lumber Liquidators...
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...office for a five-year contract. B. Background & Purpose of this document: In order to determine which submitted proposals represent the best overall value, a comprehensive and thorough evaluation of each is required. In considering the concept of ‘best value’, an approach that assesses many relevant factors from a holistic perspective is required and largely mandated by the Federal Government. This method of evaluating many primary factors and sub-factors increases the odds that the government agency will match successful contract bidders with the contracts that they are most qualified for, based on experience, capabilities, and a proven track record. For the purpose of this discussion, the group was tasked with identifying three sub-factors for four primary evaluation factors that were pre-determined. The primary evaluation factors that were considered in support of the program management solicitation project are as follows: 1) Corporate Experience; 2) Past Performance; 3) Management Approach; and 4) Technical Approach. C. Summarized table of Evaluation Factors and Sub-factors: The table below represents a summarized table of the sub-factors that have been assigned to each of the pre-determined primary evaluation factors. Evaluation Factor #1: CORPORATE EXPERIENCE This evaluation factor assesses the experience that a bidder is likely to add to the solicited project. The experience of the bidder should be commensurate, or similar to the requirements of the contract...
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...change the company’s structure and corporate culture in order to create a truly international enterprise. He reformed in corporate governance and the new management system for resource allocation and performance measurement is based on economic value added (EVA). 2) Problems & Causes (in 2002) a. The effect of Main bank (Tokyo-Mitsubishi bank) Main bank is a cross shareholder, so they can interfere on company’s operation, performance and financial. For example, some corporations invited senior bank managers as executive or non-executive board members which would be a part of corporate governance. Since main bank is the largest debtor, they will concern on company’s risk and possibly to manage company to avoid financial risk to make sure they could get money back result in confused of company’s goal. b. The obstacle of reform Conflict with minority shareholders and stake holders AGC is global company with many joint ventures in many regions. In order to reform, a lot of function, company’s structure and corporate culture have to be drastically changed. For example, reduced of board of directors and management role, incentives, unfair resource allocation and performance measurement would result in conflict of interests and resist from local management level. 3) Choices Mr. Ishizu decided to implement EVA as a tool for resource allocation as well as for performance evaluation for managers and above. 4) Evaluation...
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...Corporate planning of commercial bank: Planning is a pre requisite of every management function . the performance of all other functions like planning, organizing , staffing, directing & controlling is preceded by performance of planning function. So corporate planning is the primary function of any corporate management . it is combination of the activities in the management process which consist of formulation of the objectives & the action to be taken for their achievement. Corporate planning is a bridge between the present & future of the bank . it also provides the framework for decision making . According to koontz & weihrich : Corporate planning involves selecting mission & objectives & the action to achieve them ; it requires decision making ,that is choosing from the alternative future course of the action . Nature of the corporate planning : The essential nature of corporate planning can be high lighted by examining the four major aspects : 1) Its contribution to the purpose & objectives. 2) Its primacy among the manager tasks . 3) Its prevasiveness . 4) The efficiency of resulting plans . Every corporate plan must contribute to the achievements of bank objectives. Importance of corporate planning by commercial bank : 1) To face the challenge of market environment : The commercial bank have to function in changing market environment . there is change in technology , income levels, policies of domestic...
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...Chapter 1: A new framework for implementing corporate sustainability Key points: ▪ Sustainability performance is the effect of corporate activity on the social, environmental, and economic fabric of society. ▪ A balance between economic progress, social responsibility, and environmental protection, sometimes referred to as the triple bottom line, can lead to competitive advantage. ▪ The evaluation of social, economic, and environmental impacts of organizational actions is necessary to make effective operational and capital investment decisions that positively impact organizational objectives and satisfy the objectives of multiple stakeholders. ▪ The financial payoff of a proactive sustainability strategy can be substantial. ▪ To become a leader in sustainability, one needs to articulate what sustainability is, develop processes to promote sustainability throughout the corporation, measure performance on sustainability, and ultimately link this measurement to corporate financial performance. ▪ Corporate citizenship is an important driver for building trust, attracting and retaining employees, and obtaining a “license to operate” within a community. ▪ Corporate citizenship is much more than charitable donations and public relations—it’s the way the company integrates sustainability principles with everyday business operations and policies and then translates all of this into bottom-line results. ▪ For sustainability to be long lasting and useful...
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...Chapter 1: A new framework for implementing corporate sustainability Key points: ▪ Sustainability performance is the effect of corporate activity on the social, environmental, and economic fabric of society. ▪ A balance between economic progress, social responsibility, and environmental protection, sometimes referred to as the triple bottom line, can lead to competitive advantage. ▪ The evaluation of social, economic, and environmental impacts of organizational actions is necessary to make effective operational and capital investment decisions that positively impact organizational objectives and satisfy the objectives of multiple stakeholders. ▪ The financial payoff of a proactive sustainability strategy can be substantial. ▪ To become a leader in sustainability, one needs to articulate what sustainability is, develop processes to promote sustainability throughout the corporation, measure performance on sustainability, and ultimately link this measurement to corporate financial performance. ▪ Corporate citizenship is an important driver for building trust, attracting and retaining employees, and obtaining a “license to operate” within a community. ▪ Corporate citizenship is much more than charitable donations and public relations—it’s the way the company integrates sustainability principles with everyday business operations and policies and then translates all of this into bottom-line results. ▪ For sustainability to be long lasting and useful...
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...Research Paper Management accounting: An instrument for implementing effective corporate governance Mayanja MK and Van der Poll HM Department of Management Accounting, Unisa, Pretoria, 0003 South Africa. Accepted 28 September, 2011 Management accounting is not given sufficient emphasis, at the board level, as a provider of timely and relevant information to facilitate the execution of good corporate governance. Without management accounting information corporations in Botswana may find it difficult to create sustainable corporate governance. A qualitative approach using questionnaires and interviews were used to establish the extent to which management accounting tools are applied by the directors in the target companies. The research was carried out amongst listed companies on the stock exchange and the parastatal companies in Botswana. Furthermore documentation, for instance annual financial statements from the companies were reviewed. Most directors in the companies do not fully utilise the tools of management accounting in decision making. Management accountants have also failed to provide the relevant information to the board. To execute their duties efficiently, directors may need to call for the management accounting reports from the senior management level up to the board level and regularly use these reports to facilitate decision making. Key words: Management accounting, corporate governance. INTRODUCTION Management accounting, which was traditionally intended...
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...1. What are the key elements of Morgan Stanley’s 360ο performance evaluation process? The first key element, which is also the name giver for the new evaluation process, is the 360 degree feedback. The new system is based on the idea that a professional should be evaluated by colleagues from all levels of hierarchy, be it superiors, peers or subordinates. This is an innovation, compared to the previous system, according to which the evaluation of a professional was performed by a group of professionals, superior to him/her in the hierarchy. The 360 degree title refers to the periphery of a circle that encompasses the individual, which is exactly the sum of professionals, of all ranks, who can provide constructive feedback to the professional, as opposed to just their supervisors’ opinions which only makes up for a portion of their surrounding professionals, which can thus be described as “part of a circle, but not all”. The aim of 360 degree feedback is that the one-sided perspective of the supervisors is eliminated. This perspective is usually formed by the special nature of the relationship of a given professional to their supervisors. That relationship is usually similar to that of a parent to a child or an authority to the people. The relationship between a parent and a child is characterized by the child’s tendency to execute to its parent’s orders, either out of respect or out of love. It is also characterized by a child’s tendency to ask perks from its parent, and...
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...[pic][pic] Corporate Governance and Performance An Exploration of the Connection in a Public Sector Context By Meredith Edwards & Robyn Clough Issues Series Paper No. 1 January 2005 Preface This paper is part of a major project - Corporate Governance in the Public Sector: An evaluation of its Tensions, Gaps and Potential. The project will provide the first comprehensive theoretical and empirical work on corporate governance in the Commonwealth public sector. It has been designed to enhance communication and participation in governance across government, industry, and the community by improving corporate governance literacy and making information publicly available. The project is a collaborative venture between three University of Canberra research centres and key governmental and industry partners including the Australian National Audit Office, the Australian Government Department of Finance and Administration, Deloitte, Touche, Tohmatsu, CPA Australia and MinterEllison Lawyers. This paper is the first in a series that will be produced by researchers and industry partners involved in the project. The aim of the series is to identify and explore key emerging public sector governance issues and encourage wider discussion and activity. The series has been designed for public sector practitioners and corporate governance ‘enthusiasts’ across the public and private sectors. All papers will be broadly distributed and will be available online - www...
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...define business ethics and describe three ethical issues: Human Resources Issues, Conflicts of Interest, and the Use of Corporate Resources, and how they affect the organization of Lovelace Health System. Business Ethics Business ethics, by definition is the “Moral principles defining how businesses and business should act towards each other, employees, and the public” (The Hutchinson Unabridged Encyclopedia with Atlas and Weather guide, 2009). Ethics is derived from a person’s upbringing, culture, nationality, education, peer group(s), and experiences throughout life that ultimately define the individual. It is how a person decides what is right and what is wrong. Many organizations today have put in place a code of ethics for employees to live by and must be adhered to if the employee wishes to prosper long-term with that organization. Human Resources Issues Human resources issues describe “the ethical problems that occur when people work together” (Trevino, Nelson, 2007, p. 2). The performance evaluation is very important in grading one’s performance, but it also can be the deciding factor in yearly merit increases. At Lovelace Health Systems, performance evaluations are given once a year. The evaluations can last from 15 minutes to 30 minutes at most. Throughout the year little or no feedback is given to the employee(s) concerning work performance unless the employee does something wrong and is counseled on the issue. This is an ethical problem because the human...
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...numbers and percentages of late performance evaluations for several departments within the county with late performance evaluations could cause several problems. First, they affect employee motivation when employees are waiting on evaluations to be completed for pay raises. This, in turn, may affect morale, productivity, and turn-over rates. The evaluation of employees’ job performance is an important personnel function and is critically important to the organization. Appraisals give the employees an opportunity to contemplate their performance at work. It is the time when employees look forward to a raise in the salary and a promotion. For the managers, appraisals are about reviewing the past performance of their employees and providing them with feedback along with some tips to improve. Performance appraisal is the means by which the work performance of employees is evaluated. Employee performance is assessed in terms of the quality and quantity of work he/she has put in. It is calculated in terms of the time and efforts contributed by the employees in achieving an assigned task. Reviews of employee performance taken within an organization are known as performance or employee appraisals. They aim at analyzing employee performance, identifying their potential and inabilities, in order to determine the employee training needs. They also aim at taking decisions about salary revisions and promotions of employees. Ideally, a performance appraisal should give way for...
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...areas ? we are delighted to present his CV to Al Marai. Although his age might be a concern as per the Saudi laws but he is very optimistic and interested in working with Al Marai. Please note that John has been interviewed previously by Al Marai. CR Covering Note In July 2012 I finished up my assignment as Head/Compensation & Benefits with Tatweer Petroleum in Bahrain. The drive to nationalize coupled with increasing pressure from the company?s joint venture partners to improve financial performance have led to the departure of numerous highly compensated expats, including me. I am now back in the market looking at full-time employment and consulting opportunities, e.g. the following: ? Am open to senior non-management HR roles, with emphasis on compensation and performance management development, in the USA, the Middle East/GCC, and worldwide. ? Vice-President (VP)/Director of Human Resources for small to mid-sized organizations ? VP/Director/Manager of Compensation & Benefits/Performance & Rewards ? Human Resources consulting; available for projects on an independent ?associate? basis; join ?delivery? team of a blue chip global consulting firm; conduct training workshops related to special HR strengths. I have remained in Bahrain while targeting the Middle East for employment and consulting assignments, but I am single, mobile, and available for assignments worldwide. Special Note: I have signed a contract with Petrosync in Singapore to conduct in September this year a week-long...
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...Employment of an effective, yet ethical, performance management process is critical to the long-term success of any organization. Indeed, it is perhaps the most vital function of thriving business leaders. Furthermore, the ability of a manager to develop and retain his/her talent is a direct reflection of his/her leadership skills. This paper will discuss the appraisal process utilized by the world's largest home-improvement retailer, The Home Depot concluding with recommendations for improvement. Commencing in 2004, the organization adopted a forced ranking performance appraisal system. Careful evaluation of this assessment process suggests that the compulsory classification of an arbitrary number of employees has resulted in several unintended consequences while raising ethical concerns. The following topics relative to the utilization of a forced distribution system have been evaluated. The proposed benefits of forced distribution. The impact of forced ranking on employees and managers. The results of a forced ranking model on employee retention. Application of ethical theory to the forced ranking model. SWOT Analysis. Conclusion. This review of the forced ranking methodology will assess the moral and ethical implications of the model. Additionally, it will evaluate the impact on the organization, as well as the individuals employed by the firm. The Proposed Benefits of Forced Distribution "Performance evaluation systems are one of the most pervasive...
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...ASSIGNMENT ON CORPORATE GOVERNANCE AND ETHICS SUBMITTED BY:- SREESARAN R 13MBA0097 HISTORY Halliburton Company is an American multinational corporation founded in 1919 and currently one of the world's largest oil field services companies with operations in more than 80 countries. It owns hundreds of subsidiaries, affiliates, branches, brands, and divisions worldwide and employs over 100,000 people. The company has dual headquarters located in Houston and in Dubai, where Chairman and CEO David Lesar works and resides to focus the company’s Eastern Hemisphere Growth. The company adheres to the corporate governance code for American listed companies from 1950s. Halliburton's major business segment is the Energy Services Group (ESG). ESG provides technical products and services for petroleum and natural gas exploration and production. Halliburton's former subsidiary, KBR, is a major construction company of refineries, oil fields, pipelines, and chemical plants. Halliburton announced on April 5, 2007 that it had sold the division and severed its corporate relationship with KBR, which had been its contracting, engineering and construction unit as a part of the company for 44 years. Halliburton comprises 13 product service lines (PSLs). The PSLs operate in two divisions: Drilling and Evaluation, and Completion and Production. Our Consulting and Project Management PSL works across both divisions and is the spearhead of our integrated-services...
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...note in response to a director who has told you that assessing the performance of individual directors is unnecessary and unrealistic because directors bring different skills, experience, and knowledge to the board table. Assessing the performance of individual directors could be necessary and realistic. Not only it helps individual directors to improve his / her strong personal value system and enhance his/ her specific ability, but also it helps to overcome the weakness and better understand the objective of the company, finally makes a greater contribution to the company. 2. How is a director’s performance evaluated? The process to evaluate a director’s performance could be mentioned as followed: I. Develop evaluation criteria II. Develop evaluation performance tools III. Collect necessary information IV. Process information V. Discuss results The evaluation performance tools could be: 1) Director self-assessment: based on established questionnaire developed by the board; 2) Peer assessment: directors evaluated each non-executive directors based upon an established questionnaire or set of competencies. 3) Designated evaluated: A designated specific party such as the chairman, the chair of the director’s committee, or an third-party to conduct the individual evaluation, based upon a designated list of competencies. 3. What is required to set up a formal process for director performance? * The interests of the CEO and of the company must be aligned...
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