...2011 STUDENT CASE COMPETITION The Student Case Competition is sponsored annually by IMA® to provide an opportunity for students to interpret, analyze, evaluate, synthesize, and communicate a solution to a management accounting problem. TransGlobal Airlines By Shane Moriarity, Laura Hopkins, and Andrew Slessor “We are facing a major change in our firm’s operating environment,” the CEO of TransGlobal Airlines declared at the opening of a hastily called executive committee meeting. “We need to adopt a survival strategy, now! Noah built the ark when the weather was fine. He didn’t wait for the rain to come.” 44 44 S T R AT E G I C F I N A N C E I August 2010 T ransGlobal Airlines is the government-owned, national flag carrier of a small republic. While nominally a democracy, the country in which TransGlobal is located has been ruled by the same president for more than 40 years. During this time, tight controls were placed on all aspects of the economy. Increasingly, the country’s wealth was concentrated in the hands of a few powerful supporters of the president. The economy stagnated, and basic infrastructure fell into disrepair. Recent violent protests, however, have led the aging president to announce his retirement. He has scheduled an election to be held in three months’ time. At stake in the election will be the presidency as well as all the seats in the legislature. Several political parties have been organized and are fielding...
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...Kentucky's law requires seat belts to be worn at all times. However, this doesn’t include those with disabilities or conditions that make it hard to wear a seat belt. In order to be excused from wearing a seat belt, you must have a note from your physician in the vehicle with you in case you are pulled over by a law enforcement officer. KRS 189.125 law also states that any vehicle being operated that was made and sold before 1981 can be operated without the requirement of the use of a seat belt since they were built before seat belts were required (http://www.lrc.ky.gov). This means an old truck, an antique car, or any vehicle like that can be driven without the driver or passengers wearing a seat belt. Another things the law says is that any child under 40 inches in height are to be properly secured in child restraints like a car seat (http://www.lrc.ky.gov). According to the law, any and all children less than 40 inches tall are to be in a car seat. This piece of the law includes babies and toddlers who are too small to sit upright in a normal seat belt in the cars back...
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...fountain in the courtyard by Toms’ headquarters outside Copenhagen. Designed in 1962 by the famous Danish architect Arne Jacobsen, the headquarters, like the company, was an iconic piece of Danish history. For decades, Toms had been a Danish household name and local market leader within the confectionery industry. Today, however, it was time to look ahead. Toms, like most other companies, had gone through the financial crisis with a solid focus on the cost base. However, as a small player in the global confectionery industry, the company could only go so far with cost cutting alone. Instead, Toms needed to make a thorough analysis to capture the opportunities that lay ahead. That morning, Møller had called together his management team to discuss Toms’ fiveyear strategy for the chocolate confectionery business under the following headline: In the spring of 2012, Toms took a significant step forward by acquiring the German chocolate company Hanseatische Chocolade GmbH. Overnight, Toms added sales of 360 million Danish kroner. However, the management team agreed that this was only the first step in Toms’ path. As Møller and the management team watched the day’s first truckload of cocoa beans approach the factory loading dock, they began reflecting on the past, present and future of Toms as a chocolate confectionery company. How should Toms profitably grow its chocolate confectionery business? Toms’ ambition was to find focused growth as a strong niche player. Until 2012, the...
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...Burgess Hill, West Sussex, UK. Yannis Katsoulacos is a Professor at Athens University of Economics and Business, Athens, Greece. Abstract Purpose – The purpose of this article is to establish a strategic management framework that supports the integration of corporate social responsibility principles and stakeholder approaches into mainstream business strategy. Design/methodology/approach – A top-down and bottom-up approach was used to develop the proposed framework. The top-down approach focused on analyzing the main strategic management theories including social responsibility movements to identify complementary concepts and create a relevant topology. The bottom-up approach was based on empirical research on the views of business companies on corporate social responsibility, a review of best practices and case studies mainly in Greece. Findings – The paper describes a stakeholder-oriented integrative strategic management framework linking the main strategic management theories across value, responsiveness and responsibility dimensions. A mathematical model is presented describing the synergistic development of advantage-creating knowledge and advantage-creating stakeholder relations in accordance with the criteria of the resource-based theory. Research limitations/implications – The proposed management framework is based on the results of research projects and is not fully developed and tested. The approach will be refined, exploiting results from ongoing research including...
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...world's largest company. It is three times the size of the No. 2 retailer, France's Carrefour. Every week, 138 million shoppers visit Wal-Mart's 4,750 stores; last year, 82% of American households made at least one purchase at Wal-Mart. "There's nothing like Wal-Mart," says Ira Kalish, global director of Deloitte Research. "They are so much bigger than any retailer has ever been that it's not possible to compare." At Wal-Mart, "everyday low prices" is more than a slogan; it is the fundamental tenet of a cult masquerading as a company. Over the years, Wal-Mart has relentlessly wrung tens of billions of dollars in cost efficiencies out of the retail supply chain, passing the larger part of the savings along to shoppers as bargain prices. New England Consulting estimates that Wal-Mart saved its U.S. customers $20 billion last year alone. Factor in the price cuts other retailers must make to compete, and the total annual savings approach $100 billion. It's no wonder that economists refer to a broad "Wal-Mart effect" that has suppressed inflation and rippled productivity gains through the economy year after year. However, Wal-Mart's seemingly simple and virtuous business model is fraught with complications and perverse consequences. To cite a particularly noteworthy one, this staunchly anti-union company, America's largest private employer, is widely blamed for the sorry state of retail wages in America. On average, Wal-Mart sales clerks -- "associates" in company parlance -- pulled...
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...The review of a business model Bachelor assignment THE REVIEW OF A BUSINESS MODEL Research on changing the business model for a Dutch tour operator Leon van der Heijden ‐ June 2010 University of Twente Faculty: School of Management and Governance Education: Industrial Engineering & Management Drienerlolaan 5 7522 NB Enschede www.mb.utwente.nl Supervisor: Dr. K. (Kasia) Zalewska‐Kurek Co‐reader: Dr. J. (Joris) M.J. Heuven Mensink Capital B.V. World Trade Center Amsterdam A Tower – Level 5 Strawinskylaan 509 1077 XX Amsterdam www.mensinkcapital.nl Principal: Drs. H. (Hugo) J.T. Mensink Author: L. (Leon) E. van der Heijden Willem‐Alexanderstraat 39 7511 KJ Enschede l.e.vanderheijden@student.utwente.nl Frontpage: Smith, Alan (2009). The Movement. www.businessmodelgeneration.com Management summary The travel industry is one of the largest and also one of the fastest changing industries in the World. The emergence of the internet has radically changed the way business is conducted throughout the industry. This research focuses on a Dutch tour operator which is having trouble adjusting to the fast changing business environment. This tour operator did not make the transition to online direct selling but still sells its products via retail partners only. Due to fierce competition of online ...
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...Op-Ed Who pays the bill and who makes the profit in treating chronic disease? .............................. Lack of financial incentives means prevention is often ignored John Roberts Bellingham, WA 98226 Correspondence to: Dr Roberts jcroberts@hinet.org “A courtyard common to all will be swept by none” goes a Chinese proverb. Sadly, this ancient saying remains true in the modern American medical system. At the start of the third millennium of Western culture and progress, the suffering of medical illness arguably may be higher than in the centuries past. Until the last 50 years, illness—often combined with poverty—was a greater shortener of lives. But death, compared with today, came more quickly. In practice, an internist sees the local viewpoint of national statistics: 90 million Americans alive with chronic disease who spend more than 60% of the country’s health care budget.1 Of the 20 or so patients that many physicians see each day, one, maybe two, might not have a chronic disease. Almost every one of these patients has needs far beyond what a doctor can provide. And much of the reason is inferred from two questions: “Who pays the bill?” and “Who makes the profit?” At a policy level, the “epidemic” of chronic illness is as much a philosophical debate as it is a medical problem. If people live longer, they get illnesses of aging—dementia, loss of vision and hearing, organ failure, and cancers. In addition, chronic illness today may not...
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...requirements for B.Tech. Project B.Tech. By Katum Yomcha (2010IPG-50) Divyank Shekhar Singh (2010IPG-34) Pradeep Kr. Meena(2010IPG-109) ABV INDIAN INSTITUTE OF INFORMATION TECHNOLOGY AND MANAGEMENT GWALIOR-474 010 2013 CANDIDATE/S DECLARATION We hereby certify that the work which is being presented in the B. Tech. Project Report entitled “Relationship Marketing Index Using Holistic Approach”, in partial fulfillment of the requirement for the award of the Degree of Bachelor of Technology and submitted to the institution, is an authentic record of our own work carried out during the period from May/2013 to September/2013 under the supervision of Prof. Deepali Singh. I/we also cited the reference about the text(s)/figure(s)/table(s) from where they have been taken. The matter presented in this report has not been submitted by us for the award of any other degree elsewhere. Date: Signature of Candidates Katum Yomcha Divyank Shekhar Singh Pradeep Kr. Meena (2010 IPG 050) (2010 IPG 034) (2010 IPG 109) This is to certify that the above statement made by the candidate is correct to the best of our knowledge. Date: Signature...
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...management Studies, Motilal Nehru National Institute of Technology, Allahabad, India. ABSTRACT “The future lies with those companies who see the poor as their customers." C. K. Prahalad Strategic Guru Rural India is characterized by low per capita income, low productivity, low literacy and low rate of industrialization along with absence of basic amenities. The unprivileged class is set back by a lack of educational opportunities that could empower them to confidently pursue economic progress and overcome the debilitating effects of low literacy and rigid social hierarchies. The Indian rural retail opportunity is currently estimated to be in excess of Rs. 1400 billion (approximately US$34 billion). The figure is likely to touch Rs. 1800 billion (approximately US$ 43 billion) in 2010 and go up to Rs. 2400 billion (approximately US$ 58 billion) by 2015, according to CII - YES BANK Study on the Rural Retail Sector15. India’s rural markets are growing at double the rate of urban markets. The retail revolution is going to act as a catalyst. So, the new concept that is hitting the market today is the "Rural Retailing". KEYWORDS: Rural India, Rural retail, rural market, Retail revolution, Kirana stores. ______________________________________________________________________________ INTRODUCTION 1. THE RETAIL REVOLUTION In this land of 15 million retailers, most of them owning small mom and pop outlets, we also have a modern retail flourishing like never before. The rural revolution is driven by...
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...inputt fg integratiof afd use ol employee data, wh ch wil reduce the admrn strat ve blrrden oI keeping detailed records and should aid and enhance dec srons about stclegic d rections Need for an HRIS in Decision Situations ll you read the above memos again. you w ll recogn ze iha! each one has a request lor HRI\4 nfornraton lhal wil be used n a decston stlaton The inlormatror rcquested n Memo I wil help the egal depa(menl delermne the compafys potertal labr ty vad n a workplace gender disc(m nat on s tLat on Thrs rlomat on rnay help to determrne whether the company shoLr d decide lo rect ly lhe silual on in lerms ol an nforma sett e' mertwth the lemale statf membels orto defend the company's prornonon procedLrres as rnent dec de to change its payroll procedLres as incourtrlnecessaryTheinlormalionreqLiredrMemo2rnayhelplheHRdepartwe as ts d slr but on of benefits nloma ton to remote company localons The nlormatron need€d to respond to Memo I wl rmpact decis ons by lhe HR deparlment to change recrLlitrnent afd seleclion programs Obvious y, the response to N4emo...
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...Indian Aviation Industry Name: .................. Guide: Prof. ......... Roll Number: ..... Session: .............. Dept.: B.Com PREFACE This training manual introduces Aviation Industry.The module is meant to give all its users a firm grounding on Aviation Industry. The manual starts with the key concepts of basic Information of Aviation Industry.A major portion of this material revolves around goals & objectives of Aviation Industry. The next part of this manual covers Air facts. Final part of this book deals with benefits of Aviation Industry. The material also offers in-depth coverage of the issues related to uniqueness of aviation industry. It contains related examples and real life scenarios. Target Audience * Enrolment Operators * Enrolment Agency Supervisors * Registrar’s Supervisors * Introducers * Technical Support Staff Dependent or Related Modules To read this manual, no prior knowledge about Aviation is required. This is the first Module of the training program on Aviation and is common for all participants. All the following modules presumes that this module has been completed by the participant. ACKNOWLEDGEMENT At the successful completion of this project, I would like to express my sincere gratitude to all the people without whose support this project would not be completed. At the onset, I would like to thank my institute “St. Xavier’s College, Kolkata, the Principal Rev. Fr. Dr. J. Felix Raj S. J. and...
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...Chaotic Growth with the Logistic Model of P.-F. Verhulst Hugo Pastijn Department of Mathematics, Royal Military Academy B-1000 Brussels, Belgium Hugo.Pastijn@rma.ac.be Summary. Pierre-Fran¸ois Verhulst was born 200 years ago. After a short biograc phy of P.-F. Verhulst in which the link with the Royal Military Academy in Brussels is emphasized, the early history of the so-called “Logistic Model” is described. The relationship with older growth models is discussed, and the motivation of Verhulst to introduce different kinds of limited growth models is presented. The (re-)discovery of the chaotic behaviour of the discrete version of this logistic model in the late previous century is reminded. We conclude by referring to some generalizations of the logistic model, which were used to describe growth and diffusion processes in the context of technological innovation, and for which the author studied the chaotic behaviour by means of a series of computer experiments, performed in the eighties of last century by means of the then emerging “micro-computer” technology. 1 P.-F. Verhulst and the Royal Military Academy in Brussels In the year 1844, at the age of 40, when Pierre-Fran¸ois Verhulst on November c 30 presented his contribution to the “M´moires de l’Acad´mie” of the young e e Belgian nation, a paper which was published the next year in “tome XVIII” with the title: “Recherches math´matiques sur la loi d’accroissement de la e population” (mathematical investigations of the law of...
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...1st impression ISBN 87-616-1304-5 Skt. Pauls Gade 25 DK-8000 Århus C Tlf. (+45) 70 12 11 00 www.systime.dk Table of contents Introduction . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6 1. Companies and their context . . . . . . . . . . . . . . . 1.1 Introduction . . . . . . . . . . . . . . . . . . . . . 1.1.1 The national economy . . . . . . . . . . . . . 1.1.2 Business economics. . . . . . . . . . . . . . . 1.1.3 Private finances . . . . . . . . . . . . . . . . . 1.1.4 The content of this textbook . . . . . . . . . . 1.2 What is a company? . . . . . . . . . . . . . . . . . 1.3 Types of company. . . . . . . . . . . . . . . . . . . 1.3.1 Production companies . . . . . . . . . . . . . 1.3.2 Trading companies . . . . . . . . . . . . . . . 1.3.3 Service companies . . . . . . . . . . . . . . . 1.4 Company functions. . . . . . . . . . . . . . . . . . 1.4.1 Functions in a trading company . . . . . . . . 1.4.2 Functions in a production company . . . . . . 1.5 The company environment . . . . . . . . . . . . . . 1.5.1 The immediate environment . . . . . . . . . . 1.5.2 The remote environment . . . . . . . . . . . . 1.5.3 Interest groups . . . . . . . . . . . . . . . . . 1.5.4 Conflict and harmony between interest groups. 1.6 Company ownership . . . . . . . . . . . . . . . 1.6.1...
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...FARM MANAGEMENT Farm management is defined as a decision-making process whereby a decision maker who may be a farmer or a manager allocates his/her limited resources among a number of competing production alternatives to meet the farmer’s goals or objectives. The second part of this definition is similar to a definition of economics, which is often defined as ‘’the allocation of scarce resources’’. Characteristics of management Problem –solving Farm management problems fall into one of three types of production problems, each of which can be put into a form of a question: 1. What to produce? This problem involves selecting the combination of crops and livestock to be produced. Should the business produce only crops, only livestock or some combination? Which crops or crop rotation? Which livestock? The manager must then select from among the many alternatives that combination which will maximize profit or best meet some other goal. 2. How much to produce? Production is determined primarily by the number of inputs used and input level. A manager is faced with the problems of how much fertilizer and irrigation water to use, seeding rates, feeding levels, labour and machinery use, and determining the rates and levels for other inputs. Therefore the level of production and profit will be determined by the input levels selected. 3. How to produce? Many agricultural products can be produced in a number of ways. For example, beef can be produced with a high-grain ration...
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