...Licensed to: iChapters User Licensed to: iChapters User Management theory and practice, sixth edition Copyright © Gerald Cole 2004 The Thomson logo is a registered trademark used herein under licence. For more information, contact Thomson Learning, High Holborn House; 50-51 Bedford Row, London WC1R 4LR or visit us on the World Wide Web at: http://www.thomsonlearning.co.uk ___________________________________________________________________ All rights reserved by Thomson Learning 2004. The text of this publication, or any part thereof, may not be reproduced or transmitted in any form or by any means, electronic or mechanical, including photocopying, recording, storage in an information retrieval system, or otherwise, without prior permission of the publisher. While the publisher has taken all reasonable care in the preparation of this book the publisher makes no representation, express or implied, with regard to the accuracy of the information contained in this book and cannot accept any legal responsibility or liability for any errors or omissions from the book or the consequences thereof. Products and services that are referred to in this book may be either trademarks and/or registered trademarks of their respective owners. The publisher and author/s make no claim to these trademarks. British Library Cataloguing-in-Publication Data A catalogue record for this book is available from the British Library ___________________________________________________________________ ISBN...
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...Anitra Martin Axia Management: theory, practice, and application Ronald Sprague MGT/330 September 19, 2011 There are four functions of management, planning, leading, organizing, and controlling are instrumental to meet organizational goals. Planning is typically performed by managers, however, employees should be provided an opportunity to voice opinions and offer suggestions. Most of the employees, when given the opportunity, have the ability to provide insight and a unique approach to problem solving. In an organization such a Halliburton the managerial staff must be separate from the rest of employees as a manager’s responsibilities are different. Managers within Halliburton use the four functions of management to direct employees and reach organizational goals. Every organization is influenced by legal issues, ethics, and corporate social responsibilities. Halliburton has dealt with all three of these examples. Halliburton sets organizational goals at each level of operation. To reach these goals Halliburton employs four contrasting planning methods including; strategic, tactical, operational, and contingency planning. Halliburton is a diverse company that operates across many regions throughout the world. With such vast operations Halliburton must have a successful planning process. As Halliburton continued to expand the organization deemed it necessary to form two main divisions. The two divisions consist of drilling and evaluation and completion...
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...Study Guide Financial Management: Theory & Practice Fourteenth Edition Eugene F. Brigham University of Florida Michael C. Ehrhardt University of Tennessee ________________________________________________________________________________ Australia • Brazil • Japan • Korea • Mexico • Singapore • Spain • United Kingdom • United States Copyright 2013 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part. Due to electronic rights, some third party content may be suppressed from the eBook and/or eChapter(s). Editorial review has deemed that any suppressed content does not materially affect the overall learning experience. Cengage Learning reserves the right to remove additional content at any time if subsequent rights restrictions require it. This is an electronic version of the print textbook. Due to electronic rights restrictions, some third party content may be suppressed. Editorial review has deemed that any suppressed content does not materially affect the overall learning experience. The publisher reserves the right to remove content from this title at any time if subsequent rights restrictions require it. For valuable information on pricing, previous editions, changes to current editions, and alternate formats, please visit www.cengage.com/highered to search by ISBN#, author, title, or keyword for materials in your areas of interest. Copyright 2013 Cengage Learning. All Rights Reserved. May not be copied...
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...Question a. Why is corporate finance important to all managers? Corporate Finance is important to all managers because it gives them the skills necessary to identify and select the corporate strategies that could add value to the company. Question b. Describe the organizational forms a company might have as it evolves from a start-up to a major corporation. List the advantages and disadvantages of each form. |Organizational Form |Advantages |Disadvantages | |Sole Proprietorship |It is easily and inexpensively formed. |Difficult to obtain the necessary capital | | |It is subject to few Government rules and |needed for expansion and growth. | | |regulations. |Due to unlimited personal liability for the | | |Its income is not subject to corporate |business’ debts, the Proprietor may incur | | |taxation, but is taxed as part of the |losses that exceed the money invested. | | |Proprietor’s personal income. |The life of the proprietorship is limited to | | ...
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...Corporate Finance Problem Set 1 1) Calculate the indicated amounts and financial ratios for Big Apple Enterprises. Please indicate the formula that you used to calculate the amounts or ratios. It may be most efficient to transfer the problem to an Excel spreadsheet and perform the calculations there. | Big Apple Enterprises | | | (1) | ------------------------------------------------- (2) | | | | | ------------------------------------------------- Common Size the Balance Sheet and Income Statement | ------------------------------------------------- | ------------------------------------------------- 2010 | ------------------------------------------------- 2011 | | ------------------------------------------------- 2010 | ------------------------------------------------- 2011 | ------------------------------------------------- Total Assets | ------------------------------------------------- 50000 | ------------------------------------------------- 65000 | | ------------------------------------------------- 100% | ------------------------------------------------- 100% | ------------------------------------------------- Inventories | ------------------------------------------------- 6000 | ------------------------------------------------- 9000 | | ------------------------------------------------- 12.0 | ------------------------------------------------- 13.8 | ------------------------------------------------- Receivables | ------------------------------------------------- ...
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...American Intercontinental University FIN630 – Financial Management Theory and Practice Unit 1 Individual Project November 12, 2011 Abstract This paper will present an analysis of the United Kingdom (U.K.) and the United Arab Emirates (U.A.B.) to determine both suitability and potential in each of the countries for a Greenfield project. This analysis will compare the financial conditions in each country as well as trade policies, currencies and cultural variables which could affect the project. This paper will also include a recommendation to the steering committee of Acme as to which may be the preferred country for the Greenfield project. Introduction To begin, I will give the definition of a Greenfield Investment: “A term which describes investment in a manufacturing or production plant in an area where little or no physical infrastructure or facilities exists” (Financial Glossary, n.d). In other words, building or establishing a plant or other type facility where there was nothing previously. The opposite would be considered a Brownfield Investment, which is established in or on existing facilities or grounds. Multinational enterprise Acme, is currently considering expanding their business globally by establishing a Greenfield facility in a foreign country. Foreign countries each have their own unique policies in regards to establishing a business, as well as their own cultural proclivities, currencies and laws. This paper will offer analysis regarding...
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...Messages you've exchanged with rlaporter 2015-07-04 04:35:54 04:35:54, cesjh wrote: Hi brother Porter 'Long time don't see' what's up brother. It's been awhile since I sent you a one liner 2015-07-04 04:37:28 04:37:28, cesjh wrote: Let's be friends once again. You are my number one my chosen one 2015-07-06 14:15:33 14:15:33, cesjh wrote: Hi there When are we going to have proper chat? 2015-07-06 22:17:24 22:17:24, cesjh wrote: Are you on WhatsApp? 2015-07-22 19:56:12 19:56:12, cesjh wrote: Hi there brother Porter I am ready to run! Come to be my friend , team mate and business partner soon!! Make contact now to get our friendship really going again!!! I want to be with a loving human only. It's frightening to think that monsters are also trying to get their horrible bigey hands on myself. Uggggghh yuck! Absolutely no way!!!(Lol) Bogey hands I meant lol 2015-07-22 19:57:58 19:57:58, cesjh wrote: Can't wait to be with you my friend. We can be really great team mates for Jesus Let's get started pleasssssssee!!!!!! 2015-08-03 00:09:38 00:09:38, cesjh wrote: Hey Porter Have a nice day. 2015-08-03 00:27:40 00:27:40, cesjh wrote: Hi there Our convention is this weekend, 7th, 7th and 9th of August.Why not fly over. You are invited to be a listener only. Please call the British branch on [#] to get the address for the venue. It's the one in west Scotland UK. The Bogey men are not anymore 2015-08-03 17:29:17...
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...the organisational theory underpins the practice of management. Organisational theory is very important because when applied in practice it can influence the overall performance of organisations. It is a sociological study of formal organisations and their interrelationship with the environment in which they are operating. The study of organisational structure and culture; the different organisational theories and approaches to management; the different leadership styles and motivational theories – all of them have been developed over the past few centuries and they are still changing and upgrading so that managers can clearly understand their role in the organisation and to be able to respond adequately to various changes in order to gain business effectiveness and success. Management theory can be defined as a collection of ideas and general rules designed to help managers in their work. The theory of management helps managers to know and understand the goals of the organisation; it helps them in planning work in order to achieve these goals in the most effective and efficient way; it helps them to understand what motivates people and it shows them ways how to do it. There are various different management theories or approaches to management. The oldest once are called Classical theories. Representatives of the classical school are: M. Weber, F. Taylor, H. Gantt, Frank and Lillian Gilbert, M Follett, H Fayol, etc. The classical theories of management are dated back to the...
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...Objective The objective of this report is to focus on the concept Training and Development in HRM” and examines in more detail some of the theoretical advantages and disadvantages of Training and Development strategies in HRM followed by a critical review on the evidence based around what impact it has had in practice in terms of promoting and enhancing business performance. While we cannot ignore the importance of HRM theories in today’s management context, this paper explores whether these theories work well in practice. Introduction The key purpose of HRM is to enable management to enhance the individual and collective contributions of people to the short and long term success of the enterprise. (Personnel Management Lead Body, 1993) The workplace is in a constant state of change resulting from ongoing developments in technology and innovation and increasing economic, social and political pressures. This poses new and complex challenges for the human resources function within organisations. (Hathorn, 2012: 3). In today’s competitive global business climate, companies looking to improve their gross margins and increase productivity are increasingly looking for ways to boost employee performance and effectiveness. People in an organization are considered to be one of the most valuable resources of today’s firms. Other resources such as brands, products, processes, technological advancement, economies of scale can still provide a competitive advantage but an organisation’s...
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...MANAGEMENT ACCOUNTING (1984-1994) – Development of New Practice & Theory Introduction Decade during 1984 – 1994, management accounting has a revolution in theory and practices that identified failings and obsolescence of existing cost and performance measurement systems Three major change in new theory & practices that influence management accounting practices: Activity Based Costing Management Operational Control Systems Performance Measurement: The Balanced Scorecard Activity Based Cost (ABC) Management Traditional cost allocation system that is identical to overhead allocation and direct costing were acknowledged to be obsolete. New cost system shifts the paradigm of how to allocate cost, to the paradigm of how to identify the cost flows from organizational spending to supply resources that create the capability to perform activities. New cost system is valuable for the following reasons: Enhance accuracy of manufacturing overhead cost analysis that influencing product design decisions Accurately assign the organizational cost throughout a company’s value chain to their underlying causes: products, customers, channels and organizational units. Trace resource expenses to the activities performed by the resources. The activity cost could then be traced to individual products, customers, and services as cost objects. Activity Based Cost (ABC) Management Breakthrough for ABC systems came from 2 theoretical developments: Hierarchy for Activity Cost Drivers...
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...The Basics of Capitol Budgeting: Evaluating Cash Flows Mini Case a. Capital budgeting is the process of analyzing projects and determining which ones to accept and include in the capital budget. b. Independent projects are ones that can both be accepted without either affecting the other. Mutually exclusive projects are ones that if one is accepted the other must be rejected. c. 1. The net present value is the projects present value of inflows minus its cost. It shows us how much the project contributes to the shareholders wealth. The NPV of each franchise are: a. NPV of Franchise L – $17.08 (In thousands) b. NPV of Franchise S – $18.17 (In thousands) 2. The rationale behind the NPV method is that if we can determine what the project is worth to the share holders. If the franchises are independent then both should be accepted because they both have a NPV > 0. If the franchises are mutually exclusive Franchise S should be accepted because it has a higher NPV than Franchise L. 3. Yes, the NPVs would change if the cost of capital changed. d. 1. The internal rate of return is the discount rate that forces the present value of the inflows to equal the initial cost. The IRR of each franchise are: a. IRR of Franchise L – 18% b. IRR of Franchise S – 24% 2. The IRR is the expected rate of return of the project just like the YTM is the promised rate of return of a bond. 3. The logic behind the IRR method...
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...Chapter 2 Pages 85-86 (2-1) An investor recently purchased a corporate bond that yields 9%. The investor is in the 36% combined federal and state tax bracket. What is the bond’s after-tax yield? We have 9% pretax yield X 36% combined taxes = .09x.36=.0324 (3%) .09-.0324=.0576 (6%) The after tax yield= %6 (2-2) Corporate bonds issued by Johnson Corporation currently yield 8%. Municipal bonds of equal risk currently yield 6%. At what tax rate would an investor be indifferent between these two bonds? After Tax Yield (ATy) = (Before tax yield, BTy)(1-T) (8%)(1-T) = (6%)(1-0) = 6% (.08(1-T) = .06 .08 - .08T = .06 -.08T = .06-.08 -.08T = -.02 T = .02/.08 = 25% (2-3) Molteni Motors Inc. recently reported $6 million of net income. Its EBIT was $13 million, and its tax rate was 40%. What was it’s interest expense? Net Income = $6,000,000 Tax rate = 40% EBT = NET Income/ (1-T) = $6,000,000/ (1-.40) = $10,000,000 EBT = EBIT – Interest Expense EBT = $13,000,000 – $10,000,000 Interest expense = $3,000,000 (2-4) Talbot Enterprises recently reported an EBITDA of $8 million and net income of $2.4 million. It had $2.0 million of interest expense, and its corporate tax rate was 40%. What was its charge for depreciation and amortization? EBT = Net Income/ (1-T) = 2,400,000/ (1-.40) = $4,000,000 Tax = EBT * T = $4,000,000 * 40% = $1,600,000 Dep. & Amort. = Earning after Interest but before Depreciation – EBT Dep & Amort. = $6,000,000 - $4,000,000 =$2,000,000 (2-5) Kendall...
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...Introduction The principles of today's management goes back to the mid 1990's when an article named the “principles of scientific management” was published by Fredric Winslow Taylor who pioneered the term ‘scientific management’ in 1911. He defined scientific management as a study to increase productivity by methodologically studying the correlation between the individual and the task for the purpose of reconstructing and improving the work process (Jones and George, 2003). In the 19th and 20th century working hours were long, intense and confined, which resulted in the workers performing their tasks slower (Brodner, 2007). These issues caught the attention of Fredrick Winslow Taylor who was from the industrial revolution era, which was previously characterized by mass production (Asyali and Bastug, 2014). His intention was to increase the efficiency of the workforce by scientifically studying how work was done and by improving each stage without wearing out the laborers (Ahlstorm, 2014). Principles of scientific management After conducting various experiments he derived 4 principles, which contributed to the various management practices upheld in the 20th century (Giannantonio and Hurley-Hanson, 2011). First, science not the rule of thumb. In the industrial revolution managers relied on their personal judgment to resolve issues also referred to as the rule of thumb but all such approaches by the managers would not be efficient. Taylor felt that to increase productivity...
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...Study on Standardization of Management Accounting Li-qun Pang Department of accounting, Jilin Business and Technology College 130062, Changchun, China pangliqun1965@126.com Abstract. In order to solve the apparent lack of standardization problem of management accounting theory, because this problem is not only restricted the management accounting application and promotion in China's enterprises, but also hindered their own theory the depth development and research efficiency. This paper describes the standardization of management accounting principles, this paper discusses the basic theory that the standardization of management accounting, Analysis of building management accounting theoretical framework the various elements and the logical relationship between them, and select the appropriate logical starting point as a starting point to build the foundation of management accounting theoretical framework. Keywords: management accounting, standardization, basic principles, basic theoretical system, theoretical framework. 1 Introduction Management accounting as one of the two branches of modern accounting, after decades of development, both in theory and practice have made some development, its important role of business management has gradually been of concern to the community, and follow-up is considered the accounting industry development. But in general, Management accounting in China there are still many problems, as opposed to the development of more sophisticated financial...
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...CONTINGENCY THEORY (1960s-1970s) Contingency theory derives from system theory but it focuses more on deeper aspects. Contingency theory is a management approach that emphasizes what managers do in practice depends on a given set of circumstances (situation) (Boehm, A &L. Howard, 1997). Basically, it is the practice of the mangers depending on their environmental circumstances or situation. It is also called as “It all depends” theory or “Situation” theory (Thenmozhi, 2010,2011). According to Howard (1997), although adapting a management decision to situation seems to be simple, but it is actually very complex due to unpredictable situation. This theory exists during the emergence of new companies, “Apple” and “IBM PC” releases its new product. Both of these companies are the examples of companies that use contingency theory. Although they act differently but it is still consider as contingency because both of the companies only react to their own respective situation such as technological factors, demand from customers, trend, economic factor and many more. **** This theory claims that “there is no best way to manage an organization”. This theory further explains that organization must adapt several factors and this factor must take into account in order for the organization to be sustained and stable. Some of these macro-environmental or contingencies factors include: 1. Changes in technology, 2. Demographic shifts, 3. Economic conditions, 4. Cultural factors...
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