...were in search of common ground to conduct business transactions. As a result of global accounting needs, in 2001 the International Accounting Standard Board (IASB) was given the go ahead by major constituents of the world’s capital markets to develop a single set of high quality accounting standards. This crisis gave birth to the Financial Accounting Standard Board - IASB convergence program (Bahusova, 2009). IASB, along with the FASB, had an open debate in December of 2008 on revenue recognition concerning the changes in customer contract and the obligation between them and the seller. The debate focused on uniform standards for both United States companies that use GAAP and other non- foreign companies using IFRS (Mintz, 2009). The two bodies wanted to achieve continuity on revenue recognition for similar contracts, regardless of the company’s origin. This advancement would increase the quality of revenue recognition, not only for customers and sellers, but for those who use the financial statements to make an informed decision (Mintz, 2009). IFRS is based on a principle method which requires trust and confidence from professionals when faced with a decision. IFRS uses fewer applications of rules, which can lead to professionals looking for ways to interpret the rules to their own...
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...Transaction processing systems c. Enterprise collaboration systems 2. Give examples of how Internet and other information technologies support business processes within the business functions of accounting, finance, human resource management, marketing, and production and operations management. SUMMARY • Cross-Functional Enterprise Systems. Major e-business applications and their interrelationships are summarized in the enterprise application architecture of Figure 7.2 . These applications are integrated cross-functional enterprise systems such as enterprise resource planning (ERP), customer relationship management (CRM), and supply chain management (SCM). These applications may be interconnected by enterprise application integration (EAI) systems so that business professionals can more easily access the information resources they need to support the needs of customers, suppliers, and business partners. Enterprise collaboration systems (ECS) are cross-functional systems that support and enhance communication and collaboration among the teams and workgroups in an organization. Refer to Figures 7.4 and 7.8 for summary views of the e-business applications in EAI systems and enterprise collaboration systems. • Transaction Processing Systems. Online transaction processing...
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...1. Introduction In recent decades, Aston Martin has developed to be an iconic marque symbolized with luxury and elegance since 1913 (Aston Martin, 2015). However, Aston Martin has slowed down the market demand in Europe and North America (KPMG, 2013: 12). Nevertheless, Aston Martin plans to do an investment to expand the global market (Tift, 2015), Meanwhile, because Turkey is the fastest rising country for luxury cars, it seems advisable to target Turkey as a potential developing market (Porturkey, 2013). This report will attempt to evaluate the expansion of Aston Martin in Turkey with macro PESTLE analysis, followed by SWOT analysis, a market entry strategy and concluding recommendation for future marketing strategies based on the previous analysis. 2. PESTLE analysis 2.1. Political Turkish politics has become more stable and 50 political parties has compete in freedom, Turkey's political development is moving towards the EU accession process, the rule of law and civil liberties have been actively improved (Abylkassymova et al, 2011: 8; World Bank, 2015). Moreover, Turkey has significantly low trade barrier due to its customs union with the EU, Foreign companies are attracted by low income tax of 20%, which is an important driver of foreign direct investment(FDI) (Abylkassymova et al, 2011: 11). Furthermore, Turkey is a place where relatively easy to begin a business, as reported by the World Bank’s Doing Business Report 2015, which ranks Turkey above Italy and...
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...the Sale and Office Administrative Lotus start to do Performance Appraisal System last three year ago. The System serves as a measurement of employee Performance on the Sale team in the Company. B. ABC Maintenance Pte Ltd ABC Maintenance Pte Ltd, ABCMPL was established in 1996 by two brothers, start as a family business and incorporated as private limited in 2001. They are providing refuse removal service, recycling and general cleaning service. They started with a few trucks and open top containers has now over 35 garbage trucks, many numbers of refuse compactors and containers and over 250 devoted employees. They are currently serving over 400 customers, including government organizations, hotels, shopping malls and industrial buildings. The company value in human resource to fulfill the requirement of the customers to satisfied them. 1.2 PERFORMANCE APPRAISAL SYSTEM For a Performance Management system to be meaningful in the company, a systematic approach that involves a range of activities undertaken to get the best performance from people to achieve agency and team objectives and...
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...forensic investigations and arrests top of executives in Siemens. Based on the case, the investigators believed that Siemens has a culture of corruption, that endorsed by senior managers in order to win contracts. The way of bribe used is by the managers will bring the money in their suitcases with confident that they are doing “business as usual”. Case Chronology Started in 1970s until 2007, Siemens has being alleged for a series of scandal include accusation of bribery given to government officials in numerous countries around the world. The actions included one of the former executive of Siemens was accused for handling $77 million in bribes while another situation is they bribing the labour union. However, in the end, Siemens was found guilty and being fined for $800 million by U.S authorities under Foreign Corrupt Practices Act. Response to the scandal, the customers of Siemens were delay their order, Nokia Corporation postponed their planned to make joint venture with Siemens, Siemens profit started declined, top executives were forced to resign and...
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...easy and convenient 6 Using e-banking tools are safe 8 Transaction of money is easy with E- banking tools. 10 Privacy protection provided E-banking tools 12 Regression (ATM) 14 Regression (Internet Banking) 17 Regression (Mobile Banking) 19 Problems in E-Banking in Bangladesh 22 Grievance Settlement in e-banking 22 Increased Customer Expectations in e-banking 22 Security Problems Solving 23 Capacity/Scalability related Problems 23 Commonly Used Procedures of Handling Grievance 23 Internal Machinery to Handle Customer Complaints 24 Recommendations 25 Conclusion 25 Part-A Introduction: This is an era of electronic banking. E-banking refers to systems that enable bank customers to access accounts and general information on bank products or services through a computer or other intelligent device. E-banking offers speedier, quicker and dependable services to the customers for which it may relatively satisfy better than manual banking system. The rationale of this report is to recognize the impact of variables of e-banking on customer pleasure in Bangladesh. Gradually electronic banking is gaining much importance in Bangladesh. Customers‟ liking is necessary for the banking sector to elevate profitability, business expansion and accomplishment. Now-a-days banking sector is being modernized and expanding its hand in different financial events every day. At the same time the banking process is becoming faster and easier. In order to survive in the competitive field of...
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...International Journal of Business and Manegement; Vol. 7, No. 14; 2012 ISSN 1833-3850 E-ISSN 1833-8119 Published by Canadian Center of Science and Education Service Quality Management in Hotel Industry: A Conceptual Framework for Food and Beverage Departments Ala`a Nimer AbuKhalifeh1 & Ahmad Puad Mat Som1 1 School of Housing, Building and Planning, Universiti Sains Malaysia, Penang, Malaysia Correspondence: Ala`a Nimer AbuKhalifeh, School of Housing, Building and Planning, Universiti Sains Malaysia, Penang, Malaysia. Tel: 60-4-653-3741. E-mail: ana11_hbp046@student.usm.my Received: March 8, 2012 Accepted: May 15, 2012 Online Published: July 16, 2012 doi:10.5539/ijbm.v7n14p135 Abstract URL: http://dx.doi.org/10.5539/ijbm.v7n14p135 Service quality has been an important subject of research involving food and beverage (F&B) departments of hotels. Despite a substantial number of studies on service quality, the reasons why guests revisit a hotel and why a high-quality service from the F&B department is needed have remained unanswered. This paper aims to review existing literature on service quality management in the F&B departments of hotels, its process, and the effective service quality management framework. This paper discusses famous models, and explains Parasuraman’s dimensional framework of service quality management in the area of F&B and its application to the hotel industry. The conceptual paper suggests application of the dimensional model in the F&B department...
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...Chapter 07 Activity-Based Costing: A Tool to Aid Decision Making Solutions to Questions 7-1 Activity-based costing differs from traditional costing systems in a number of ways. In activity-based costing, nonmanufacturing as well as manufacturing costs may be assigned to products. And, some manufacturing costs—including the costs of idle capacity—may be excluded from product costs. An activity-based costing system typically includes a number of activity cost pools, each of which has its unique measure of activity. These measures of activity often differ from the allocation bases used in traditional costing systems. 7-2 When direct labor is used as an allocation base for overhead, it is implicitly assumed that overhead cost is directly proportional to direct labor. When cost systems were originally developed in the 1800s, this assumption may have been reasonably accurate. However, direct labor has declined in importance over the years while overhead has been increasing. This suggests that there is no longer a direct link between the level of direct labor and overhead. Indeed, when a company automates, direct labor is replaced by machines; a decrease in direct labor is accompanied by an increase in overhead. This violates the assumption that overhead cost is directly proportional to direct labor. Overhead cost appears to be driven by factors such as product diversity and complexity as well as by volume, for which direct labor has served as a convenient measure. ...
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...INTERNSHIP REPORT ON ORGANIZATIONAL STUDY AT HINDUSTAN COCA-COLA BEVERAGES PRIVATE LIMITED by 1. Rahul Singh 12MB5121 2. Shamim Akhtar Shaikh 12MB5141 3. Subhash N H 12MB5093 4. Sumi Paul 12MB5162 5. Vartika Dwivedi 12MB5175 | | …………………………………………………………………………………….. | | II SEMESTER MBA Guide Prof. Sivadas Nambiar Internship Report submitted to the University of Mysore in partial fulfilment of the requirements of II Semester MBA degree examinations – 2013 Ramaiah Institute of Management Studies #15, New BEL Road, MSRIT Post, M S Ramaiah Nagar Bangalore – 560054 [Certificate from the Company] [On the company’s Letter Head] CERTIFICATE This is to certify that ………………………….. [Group member names], MBA students of Ramaiah Institute of Management Studies, Bangalore, have successfully completed an “Organizational Study” at [company name] from 25 July 2013 to 24 August 2013. For [company name], [Authorized Signature & Seal] [Name] [Designation] [Certificate from the Guide] Ramaiah Institute of Management Studies Bangalore - 560054 CERTIFICATE This is to certify that this Internship Report on Organizational Study at HCCBPL is a bonafide study of Rahul Singh(12MB5121), Shamim Akhtar Shaikh(12MB5141), Subhash NH(12MB5093), Sumi Paul(12MB5162), Vartika Dwivedi(12MB5175), carried...
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...strategy | c. | specifies the roles new products play in the organization's overall plans | d. | describes the characteristics of products the organization wants to offer and the markets it wants to serve | e. | is accurately described by all of these | ____ 2. The first stage of the new-product development process is: a. | screening and concept testing | b. | establishing the new-product strategy | c. | exploring opportunities | d. | developing a business analysis | e. | the building of a prototype | ____ 3. A manufacturer of office furnishings is finding it difficult to compete with cheaper imported merchandise. Which of the following is a potential source of new-product ideas that would allow it to compete more effectively? a. | current retailers who carry the manufacturer's equipment | b. | its foreign competitors | c. | the company's employees | d. | customers who have requested its catalogs | e. | all of these | ____ 4. Which of the following stages of the new-product development process is the first filter in the new-product development process and serves to eliminate new-product ideas that are inconsistent with the organization's new-product strategy or are obviously inappropriate for some other reason? a. | applied diffusion | b. | introductory diffusion | c. | business analysis | d. | test marketing | e. | idea screening | ____ 5. In the _____ stage of new-product development, preliminary demand, cost, sales, and...
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...ANNUAL REPORT 2013-14 GROWTH IS Growth is Energy l Growth is Value Growth is Happiness l Growth is Life... Growth is Energy Growth is Value Growth is Happiness Growth is Life... Late Shri Dhirubhai Ambani Founder Chairman G rowth, in all its facets, has been a distinguishing factor at Reliance, ever since our inception. Our philosophy envisions growth as a universal concept, that represents multiple possibilities and touches all aspects of life. This explains why we have put in motion some of the most ambitious plans, aligned to the needs of India as it develops into a world-force. The continuing expansion of our key business verticals places us at a vantage point with reference to the aspirations of India. We have taken strategic decisions in key areas that will drive our growth and also create better outcomes for our youthful nation. Strategy at Reliance is about making prudent choices, balancing risks and return, building competitive advantages and envisioning the future through the power of innovation. Innovation has always been a cornerstone of our operations. It has enabled us to make significant technology-driven breakthroughs that add value to existing businesses, and create new ones. We are partnering with leading global institutions renowned for excellence to strengthen our experience and expertise. From the manufacturing landscape to high-growth consumer service sectors, Reliance is making progress possible each day. We are helping the country...
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...International Journal of Hybrid Information Technology Vol.6, No.6 (2013), pp.281-290 http://dx.doi.org/10.14257/ijhit.2013.6.6.25 Enterprise Business Processes System Analysis and Design Geng Yushui and Sun Jianjun School of Information, Qi Lu University of Technology Jinan250353, China gys@qlu.edu.cn, 631901036@163.com Abstract At present, more and more enterprises or departments seek to extend the application of information technology to the more complicated business processes, these business processes are characterized by a number of business activities, capable of handling multiple business objects, business logic and business rules complex. Thus, the enterprise business process management system arises at the historic moment. Enterprise business processes management system is not only a software product that provides a single function, but also you can customize for the different areas of the business process according to user's actual business needs. In the process of management platform, Process simulation for the process simulation module is put forward based on probability analysis, and for the process modeling module, more collaborative process modeling technology is put forward. In the business application layer, process monitoring application based on application driven is proposed. Positioning in the implementation of enterprise business process management system for business process simulation software implementation or, as well as to simulate...
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...1 Introduction Singer (Sri Lanka) PLC is a conglomerate engaged in trading of consumer durables. It dates back its origins to 1877 where it started its first shop in Pettah. The Company was focused on selling sewing machines and as a step towards backward integration in 1963 Singer Industries (Ceylon) PLC was incorporated to assemble sewing machines. However the market for Sewing machines declined over the past years and the Company facing a financial downturn, took a critical decision to diversify into trading of consumer durables under its brand name Singer and as well as other brands which included Philips, TCL . This move enabled the Company to thrive in an era where its parent Company the Singer Corporation and subsidiaries across 100 countries collapsed due to its inability to change. Further to support the diversification Singer strategically entered into the manufacture of consumer durables thus ensuring a stable supply of products at a lower cost. Regnis (Lanka) PLC was incorporated to manufacture refrigerators, Television assembly was commenced at Singer Industries (Ceylon) PLC and a new factory in Piliyandala was constructed to manufacture furniture. With the evolvement of easy payment schemes and Hire Purchase payment systems for consumer durables the Company further took a decision to form a finance company Singer Finance Lanka Ltd. Today Singer Sri Lanka is a conglomerate with revenue in excess of Rs 11 billion and a market capitalisation of Rs 4.6 bn. It has...
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...Solutions for Chapter 12 Audit of Cash and Other Liquid Assets Review Questions: 12-1. It is important that cash and liquid asset testing be coordinated because the assets can be quickly moved and thus substituted for each other. For example, an organization could quickly move assets between cash and certificates of deposit. 12-2. General Cash Account. This is the account used to transact most of the organization's cash transactions. It is usually a high volume, but low balance account. Because of its high volume and its liquidity it is susceptible to greater risk than most asset accounts of the same size. Imprest Payroll Account. This is an account that is maintained strictly for the payment of payroll. The organization makes a deposit equal to the monthly or weekly payroll at the time the payroll checks or electronic transfers are issued. The account is used to minimize accounting costs and to isolate payroll risks to one account. 12-3. We disagree with the auditor's assessment of inherent risk of cash transactions as low. Granted, the accounting for cash and marketable securities is not overly complex. However, the liquidity of the accounts, coupled with their susceptibility to fraud or misappropriation, makes the inherent risk of the accounts at least moderate - if not high. Most organizations recognize the high inherent risk associated with the accounts and have implemented detailed control procedures to reduce control risk to a minimal level. 12-4...
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...[pic] Blekinge Institute of Technology Ronneby-Sweden School of Management June 2005 Do organizations have IT Strategies? A Study on how organizations describe their IT Strategies. Masters Thesis in Business Administration (FED 006) Author Stephen Rupia Lyabandi Executive Summary Title: Do organizations have IT Strategies? A Study on how organizations describe their IT Strategies. Author: Stephen Rupia Lyabandi Tutor: Anders Hederstierna Problem: The research problem of this study is lack of insight on how organizations describe their IT strategies in relation to other strategies. IT strategy continues to be a major challenge for Information Technology intensive organizations and managers. Over the last two decades, the way researchers on information systems have viewed and analyzed IT strategy in organizational systems has not significantly been modified. Recent studies show that one of the main problems is that the concept of IT strategy has been around for nearly two decades and although many organizations have been using it, the meaning and reference of the idea remains elusive. Those who have attempted to define it have not reached an agreement. Purpose: The purpose of this study is to define the problem and explore whether organizations...
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