...FIN/571 March 19, 2013 James Ciaramella Guillermo Furniture Store Concepts Paper First week (1st) individual assignment was write no more than 800 word paper explaining the finance concepts found in the Guillermo Furniture Store Concepts Paper and relate finance concepts to the context of the scenario. Following Finances Concepts and relationship with scenario assigned. Finance Finances are the studies and addresses the ways in which individuals, businesses, and organizations raise, allocate, and use monetary resources over time, taking into account the risks entailed in their projects. Finance is defined as the set of activities and administrative decisions that lead a company to finance the acquisition of fixed assets such as land, buildings, furniture, etc. and circulating such as cash, accounts and notes receivable, etc. The analyses of these decisions are based on the flows of income and expenditure and its effects on management objectives that the company intends to achieve. The definition of finance comprises several factors that are involved directly with them and some of them are such as investment, brokerage, personal financial planning, financial planners and advisers, securities analysts, agents real estate, etc. Finance Concepts at Guillermo’s Scenario 1 Guillermo Navallez, is an entrepreneur localized in Sonora Mexico. Sonora Mexico is a large furniture manufacturing location in North America. Guillermo handling his small business about furniture...
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...Guillermo Furniture Store Scenario Accounting is a daily function in many areas in our lives. Whether it is budgeting in our homes, or business, accounting services are useful and necessary. Guillermo Navallez has a very successful furniture business near his home in Sonora, Mexico. In the 1990’s Guillermo’s business was facing new competition. Rising costs and falling prices were causing Guillermo’s profit margin to shrink (University of Phoenix Guillermo Furniture Store Scenario, 2011). In this paper discussion topics will include how Guillermo can use budget and performance reports in his decision-making process, how ethics can play a role in the process, and relevant accounting information in the decision-making process. Budget Reports Budget reports help control spending. The definition of a budget is “quantitative expression of a plan of action” (Horngren, Sundem, Stratton, Burgstahler, and Schatzberg, 2008). Using a budget report, Guillermo can keep track of all business expenditures. The budget report can also reflect if there is any excessive or wrongful spending. Budget reports are also relevant accounts for business earnings based on product sales. Guillermo can have an idea of which products are best sellers versus those products that are not doing so well allowing him to make any necessary adjustments to his inventory. Performance Reports “Performance reports provide feedback by company results with plans and by highlighting variances, which are deviation...
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...The Guillermo Furniture Store Scenario Susie Smith FIN/571- Corporate Finance September 26, 2011 Danica Djordjevich, Instructor The Guillermo Furniture Store Scenario Guillermo Navallez is the owner of a furniture manufacturing company located near his New Sonora, Mexico home. This company specialized is handcraft products priced at a slight premium for the quality they represent. This scenario presents a challenge from the arrival of new competition from overseas that has entered the furniture market with headquarters a few miles from Guillermo’s location. This new competitor uses a high-tech approach and provides furniture to exact specifications at rock-bottom prices. In addition one of the largest retailers located a few miles from Guillermo Furniture Store. This factor had a impact on the company because of the growth in development, influx of people, and increase in jobs. The influence from new competition and an increase in labor cost resulted in profit margins at Guillermo shrinking as prices fell and the cost to operation increased substantially (University of Phoenix, 2011). Alternatives Three alternatives that Guillermo must meet head-on to adapt to the current changing market environment are obvious to remain competitive. The first is to continue what he is currently doing. The second alternative is to go high-tech this would produce his custom furniture at a lower cost by reducing labor cost, and the third is to consider operation as a furniture...
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...Guillermo’s Furniture 1 GUILLERMO’S FURNITURE Guillermo’s Furniture Michelle Pate Sundar Shankar Mani Vannan Osvaldo Perez Niaz Tavakoli FIN571 University of Phoenix November 2009 Guillermo’s Furniture 2 Introduction During the history of furniture, designing trends have correlated to society’s changes. Today, because we have access to different fabrics, textures and technology advancements, people have a variety of furniture to choose from. Historians have a record of the year and technique in which furniture was made. Presently, you can find hand-made furniture at auctions, historic places and museums. They have a higher value and are looked at as a work of art because they are created by an artist’s imagination. Furniture makers often use oak wood in their furniture, since it is stronger and will last longer than other wood. It would be more difficult to create custom hand-made furniture using an automated machine because it takes the art out of the furniture, though it is less expensive. It takes more time and money to create hand-made furniture and get it ready for the selling stages than to create automated furniture or become a distributor. Guillermo’s Furniture Store is going through changes and he needs to adapt new strategies that would help him overcome the market’s competitors and stay in business. Guillermo’s Furniture Store is located in Sonora, Mexico and is one of the biggest companies that manufacture furniture in North America. This area has a...
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...Guillermo Furniture Store Scenario NAME HERE ACC/561 DATE Guillermo Furniture Store Scenario Guillermo Navallez is a highly successful manufacturer of furniture in Sonora, Mexico; however, he is coming to the understanding that he no longer holds a competitive economic advantage that he once enjoyed in the past. The reason behind the lack of advantage is due in part to a new international competitor entering the market and challenging the current profit structure with furniture made from robotic production methods. Additionally, the cost of labor has proliferated and an influx of people migrating to Sonora, Mexico has altered the economic state within the area. Guillermo Navallez has several opportunities and alternatives to contemplate in an attempt to counterbalance the negative situations. Upon further analysis, Guillermo Navallez knew that a merger with another company is not a feasible option nor is expanding his management responsibilities as it would impede upon his desires to spend quality time with his family. These alternatives ultimately lead to him advancing his production system to a highly sophisticated laser lathe which would be rather expensive yet it would significantly decrease production costs. The other alternative would to become a representative for a Norwegian manufacturer who had been looking for channels to distribute in North America. Before settling on a permanent decision, Guillermo Navallez must first evaluate his current budget and performance...
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...Guillermo Furniture Store Scenario Accounting 561 University of Phoenix Introduction The business climate has changed dramatically for Guillermo Furniture over the last 10-15 years. The market share that was once seen in Sonora Mexico has now shrunk and has increased competition. The company must look to reduce cost while at the same time making a profit. The company has several options and ideas on the table, but Guillermo needs to look at the financial documentation to make sound business decisions. Guillermo Furniture has not done the best job of looking at the data and creating a business and production plan for the company. With increased competition and also the influx of machine cut furniture, the market for his product has been reduced over the years. The company must decide soon to keep things as they are, or spend the money needed to buy the appropriate machinery to produce the high quality products they desire. Although the machinery will be expensive from the start, they would eventually pay for themselves over time on the amount of labor saved. There has also seemed to be a lack of budgets and performance reports in the decision-making process. The company could use these reports in many areas to keep the company making profit, as well as shift the company in the proper direction for the future. One thing that can be taken away from the current data is that the company produced over budget on its mid-grade products, while failing to meet the...
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...Guillermo Furniture Store Scenario Bridget Burns ACC/561 Accounting Rachael Lenzmeier Jencks March 13, 2011 Guilermo Navaliez has been a furniture maker for many years. Times have changed, Guilermo needs to look at his company and make an important decision on which way to take his company. He can keep what he is doing now, invest in hi-tech, or become a broker. Guilermo should use attention directing, which means reporting and interpreting information that helps managers to focus on operating problems, imperfections, inefficiencies, and opportunities (Horngren, Sundem, Stratton, Burgstahler, & Schatzberg. 2008. p. 5). Guilermo will need to gather all relevant information, review it, and make an informed decision on which way to go. In order to make a good decision, accounting information is needed. Accounting information consists of management accounting and financial accounting. Management accounting is the process of identifying, measuring, accumulating, analyzing, preparing, interpreting, and communicating information that helps managers fulfill organizational objectives (Horngren, Sundem, Stratton, Burgstahler, & Schatzberg. 2008. p. 5). Financial accounting develops reporting for external decision makers. Some of the management accounting reports that Guilermo needs are budgets and performance reports. Budgets are used to predict the future. Budgets are estimates of expected income and expenses for a given time. Performance reports...
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...BEC970/TEAC4980 Assessment and Evaluation: Alignment Assignment Course Description: This course is designed to help newly hired front-line banking representatives learn the basics of client interaction, including transactional processing, handling client inquiries and concerns, and leveraging trigger events as well as open-ended questions to identify advice opportunities. The learning is delivered in a blended online/in-classroom/in-branch environment with hands-on practice opportunities gained through virtual modules, role-playing with colleagues, and direct client interactions in branch. The course is comprised of seven learning modules/units delivered over a nine week period, with each module delivered over a 1-week period, providing a 2-week intensive hands-on practice opportunity near the end of the program. The flow of the course includes these main topics: 1. Discovery: Learning more about you and understanding your strengths 2. Orientation: The Tools and Resources you need to succeed and where to find them 3. Client Experience: An overview of what a perfect interaction looks like 4. Transaction Processing: Understanding the mechanics of day-to-day transactions 5. Product Knowledge: The nitty-gritty of the products we offer 6. Giving Advice: Discovering needs and providing client-centric advice 7. Client Experience: Juggling it all together ...
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...organization plays a vital role in business functions. Using poor communication or the wrong type of communication channel can have major negative impacts. Good communication skills and the knowledge to identify when to use a particular communication channel is vital in sending and receiving business information. The communication channel scenarios assigned demonstrate the challenges that occur when there is error in communication. The first scenario highlights the risks of not choosing the right communication channel when dealing with important business matters. The scenario also shows what can occur when important conversations take place via e-mail rather than one on one, and how the evidence of the conversations can cause future damage. The second scenario shows how the internet has changed communication and created new challenges for organizations. Both scenarios demonstrate that it is essential to understand the different channels of communication. COMMUNICATION CHANNEL SCENERIOS 3 Communication Channel Scenario 1 In the case incident between Diana Abdala and William Korman, I side with Mr. Korman. I feel that Ms. Abdala handled the situation in a very unprofessional manner. It is my understanding that both parties initially used face to face communication as a channel for information exchange during the interview process, offer, and acceptance....
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...meeting opportunity." Have you ever heard people talk about the things they would do if they won the lottery, and yet a large percentage of these people never go out and buy a ticket. These people have exactly a zero chance of winning, while the ones who went out and bought a ticket have a chance, albeit slim, at becoming lucky. This is the scenario that came to mind when I first read the quote “Luck is a matter of preparation meeting opportunity”. However, the more I thought about the quote, the more I realized how easily this could be applied to many real life situations. The author of this quote is trying to tell the readers that preparing yourself for opportunity is the key to being lucky, or successful. In order to prepare yourself for success, there are certain steps that must take place. First, you have to believe in yourself. You must believe that you can pick the lucky numbers, or you must believe that you are capable of competing in, let’s say a marathon. Second, you have to set goals for yourself. In the case of the lottery it’s pretty easy; Goal #1, buy ticket. Goal #2, wait. In the marathon scenario, much like most other scenarios, it’s a little more complicated. You must train both physically and mentally, and make many sacrifices along the way. Finally, you must be optimistic about the result you achieve. In the case of the lottery player, they probably didn’t win. But at least they can try again in a few days, right? The marathon runner may not have won the race...
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...Perrier, Michael Butler, Frank Petty, Nicholas Deluca COM/310 Sept. 2, 2013 Love Cross Action Plan 09.03.13 All members of the team submit two recommendations from Week 4 / Week 5 for theory development that is most conducive for script development. 09.06.13 Two theories will be chosen from discussion in the class thread either unanimously or by the Team Leader (Dalene). 09.09.13 Scenarios need to be submitted via the class thread to be considered for the script. Need to include an environment, proposed characters, resolution and how it meets the theory description to be considered. Scenarios will be chosen unanimously or by the Team Leader (Dalene). 09.13.13 Due from Team Members Team Member 1 (Nicholas) - Appendix for Script 1 - Write a brief preview of how you will be acting out the scenario to represent the selected theory. Team Member 2 (Michael) - Appendix for Script 1 - Write a description of the selected theory with two reference. Team Member 3 (Arline) - Appendix for Script 2 - Write a brief preview of how you will be acting out the scenario to represent the selected theory. Team Member 4 (Frank) - Appendix for Script 2 - Write a description of the selected theory with two reference 09.16.13 Team Leader will submit the appendices 09.19.13 Team Member 1 (Nicholas) - Rough Draft script 1 Team Member 2 (Michael) - Rough Draft script 2 09.21.13 Team Member 3 (Arline) - Final Draft script 1 Team Member 4 (Frank) - Final Draft script...
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...STRATEGIC PLANNING AT UNITED PARCEL SERVICES Reaction Paper Blank Part A Before the 1990s UPS had a small group in charge of formulating project plans (Garvin & Levesque, 2006, p. 3). However, as the company grew in size and the volume of projects, a formal strategic planning group had to be formed. When Eskew became CEO in 2002, the formation of a Management Committee was among the first accomplishments he made. The Committee was tasked to direct the company to its vision for 2007, its first centennial. Eskew's concern, that changes are needed in UPS's strategic planning process, is valid. If the company continues to form only ad hoc groups to focus on achieving a long-term vision, then the sustainable commitment in the group's members cannot be assured. Eskew believes that the only way to move forward is to stop reinventing the wheel. This belief implies that the strategic planning process has to be more systematic than it is, currently. However, the scale of goals to achieve and tasks to accomplish for the Strategic Planning process have become larger as time progressed. UPS will only be capable of transforming itself once more if it has a proportionate level of commitment. A clearer and more straightforward connection between the different components of the strategic process is needed in order to sustain the focus and chart directions. Delegating such task to a Management Committee is a positive step to address the need to link the various components...
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...Collapse Informatics: Response Paper • Collapse Informatics: Augmenting the Sustainability & ICT4D Discourse in HCI (Tomlinson et al., 2012) • Looking Past Yesterday’s Tomorrow: Using Future Studies Methods to Extend the Research Horizon (Mankoff et al., 2013) Both papers are dealing with future scenarios and stressing the likelyhood of a collapse if humanity proceeds its current way of living. The papers provide starting points to investigate in the preparation for humanity if such an event will come true. While the paper by Tomlinson et al. (2012) is introducing a completely new notion for studying, designing and devloping sociotechnical systems in the abundant present for use in a future of scarcity, the second paper by Mankoff et al. (2013) presents methods that can support the analysis of long-‐ term trends, support the identification of new...
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...Scenarios planning is the main technique to study the future, and it have been used since long time by the government planners, corporate managers and military analysts, as important tool to help them in making decision to face the uncertainty. The idea of scenario planning is to establish about possible future where it can minimise surprises and broaden the span of managers. Today the scenarios planning they have become extremely popular. ( Chermack, T. J. 2003). Scenario planning is a group‐based decision making tool, which has its roots in post‐ WWII military planning and the petroleum industry of the 1970s such as Royal Dutch Company. Unlike its cousins, forecasting and prediction, scenario planning does not attempt to project future outcomes based on data from the past. These methods can often lead to “tunnel vision”, due to their preference of one outcome over another. Scenario planning, as described by Peter Schwartz, Chairman of Global Business Network (GBN), “…is a tool for better decision making…Business and governments employ this tool because it helps them to make better strategic decisions.” (Schlegel, G. L., & Murray, P. 2010) The History of Scenario Planning Scenario planning arose out of a need to plan for futures filled with much uncertainty. This uncertainty is particularly magnified in military operations, which is why scenario‐type planning can be traced back to 19‐century military ...
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...Manuel A. Noriega – Friend or Foe? Manuel Antonio Noriega Morena was born on February 11th, 1934 in Panama City, Panama to a poor accountant and his maid. (Tyle) At the age of five, his parents allowed a school teacher to adopt him. As a teen, he attended a well known high school, the National Institute, in preparation of becoming a doctor. During his time here, he participated in various anti-US protests. When high school was over, his family could not afford to send him to medical school so instead, Noriega accepted a scholarship to attend the Chorrios Military Academy in Peru. He graduated in 1962 with a degree in engineering. For the next few years, Noriega trained obstinately at the U.S. Army School of the Americas in Fort Benning, Georgia becoming highly decorated in intelligence, counterintelligence, and jungle operations and then went on to take a course in psychological operations (Psyops) at Fort Bragg, North Carolina. In 1967, Noriega returned to Panama and joined the Panama National Guard. One year later, he was promoted to lieutenant. That same year, the leader of Panama, Amulfo Arias was removed from power by the military a short 11 days after winning his second election. Many speculate Noriega played a major part of this military uprising. Control of government power was assumed by Colonel Omar Torrijos. Torrijos already had a great deal of respect for Noriega but one incident sealed the deal. In 1969, Torrijos was out of the country, a group of...
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