...LECTURE 3 Managing Customers and Time Chapters 10 (pp. 396-405) & 16 (pp. 646-651) Cost Accounting: a managerial emphasis (Horngren et al.) Rahat Munir Department of Accounting and Corporate Governance accg301@mq.edu.au 1 Learning Outcomes 1. Explain customer profitability analysis 2. Describe differences in an organisation’s revenues and costs across customers purchasing the same product 3. Explain differences in customer level costs across customers 4. Describe the ways to calculate customer costs 5. Describe customer-response time and explain the reasons for and costs of delays 6. Explain the customer waiting time 2 1 8/22/2011 Customer Profitability Analysis 3 Customer Profitability Analysis Customer profitability analysis is a decision tool used to evaluate the profitability of a customer. Why calculate customer profitability? Which customers generate the greatest profits? And how do we retain them? Which customers generate the lowest profits? And how can we make them more profitable? What types of customers should we focus on to maximise profitability? 4 2 8/22/2011 How to Calculate Customer Profitability? COMPARISON Revenue generated by a customer or customer group – [customer revenue analysis] Costs of all activities used to support a dt t customer or customer group – [customer cost analysis] Relative profitability of customers can be determined and used for a range of strategic decisions 5 Customer Revenue Analysis ...
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...Unit 5: Managing service levels CONTENTS A. PAGE B. C. D. E. F. G. INTRODUCTION TO UNIT 3 Aims 3 Your learning outcomes 3 Essential and suggested reading 4 SERVICE EXPECTATIONS 5 Customer expectations 5 Service encounter experience 5 Organisational change of focus 7 Ensure that segments are compatible (managing the segment portfolio) 7 Segment management 8 SERVICE LEVELS AND STANDARDS 9 Introduction to expected service levels 9 Problems in defining and agreeing service levels 9 Expected service levels versus service standards 10 Developing a set of service standards 11 How many service standards are necessary? 11 Planning service standards 12 Implementation of service standards 12 How can service standards be used? 13 Review of service standards 13 SERVICE RECOVERY 17 What happens when things go wrong? 17 Conflict management 19 Service recovery processes 19 Effective service recovery 20 Building trust 21 SUMMARY 22 NOTES AND GUIDANCE ON THE SELF-ASSESSED ASSIGNMENTS 23 Self assessed assignment 1 23 Self assessed assignment 2 24 REFERENCES 25 1 Unit 5: Managing service levels Blank page 2 Unit 5: Managing service levels A. INTRODUCTION TO UNIT This unit looks at the expectations of the customer and how they relate to managing service levels. It also covers managing service levels with service standards, service guarantees and service level agreements (SLA). It investigates what goes wrong...
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...Introduction This report is engendered to analyze the functions, procedures and operations that Canadian Freightways participate in order to sustain synergy between CF and its customers, its views on outsourcing, as well as the efficiency of its operations. However the real question is; is CF taking all possible measures to fully satisfy their customer’s requirements? Are there areas within CF’s internal controls that could be altered in order to improve and provide a better experience for their customers? If not, what are the externa factors and how could outsourcing be used to capitalize on these areas of structural weakness? In addition to establishing possible solutions an examination of Canadian Freightways practices will be analyzed to determine what steps are taken to resolve all barriers of customer fulfillment, and in addition a breakdown of a make or buy analysis will define Canadian Freightways approach to outsourcing. This report will also include an evaluation of the approaches CF takes to ensure effective and efficient operations and how these activities deliver customer value. Finally a few suggested recommendations will be produced to help improve the organization’s customer fulfillment and overall success. Canadian Freightways and Outsourcing Why must Canadian Freightways outsource and what are benefits to having work operations and product production completed “in-house” (Make or buy decisions Investopia) rather than by another company? When analyzing...
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...Manage Quality Customer Service National Unit of Competency BSBCUS501B Learner Guide BSB107 Version 4 Learner Guide BSBCUS501B Manage Quality Customer Service 1. Learner Guide 22 November 2011 Learner Guide BSBCUS501B Manage Quality Customer Service Table of Contents 1. 2. 3. Learner Guide ...................................................... 3 1.1 Conditions of use .......................................................................3 Introduction to the Learner Guide ........................ 5 2.1 Icon Legends .............................................................................6 Unit of Competency Information........................... 7 3.1 Unit Descriptor ..........................................................................7 3.2 Elements of Competency and Performance Criteria........................7 4. 5. Unit content .......................................................... 9 How to approach study in this Unit ..................... 56 5.1 Useful references and texts ........................................................56 5.2 Assessment..............................................................................57 22 November 2011 Learner Guide BSBCUS501B Manage Quality Customer Service 2. Introduction to the Learner Guide Welcome to the Learner Guide for Manage Quality Customer Service. This Learner Guide has been designed to assist the development of the underpinning knowledge and...
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...Introduction……………………………………………………………………………………………………………1 2. Managing People and Relationships …………………………………………………………………….1 2.1 The Relationship between Supershuttle and the Customer (Geoff Southern) 2.2 To Solve Problems and Improve Service Quality 3. Managing Information for Decision Making…………………………………………………………….3 3.1 How the Demand in the Market is Learned 3.2 How the Demand Can Be Predicted 4. Managing Operational Finance……………………………………………………………………………….4 4.1 Identify the Relevant Costs 4.2 Alternative Operating Policies and the Effects of Seasonality and Day Variation 5. Conclusion……………………………………………………………………………………………………………….5 6. References………………………………………………………………………………………………………………6 CASE STUDY: SUPERSHUTTLE 1. INTRODUCTION: A service is something that the public needs, such as transport or communication facilities, which is provided by an organisation. Due to increasing population, the demand for transportation has grown significantly and as a consequence of this, transportation companies are becoming more widespread and altering their forms of services. Supershuttle is a franchise company and the company yields “door-to-door service” to 8 million passengers per year (Supershuttle.com, 2012). The company website can be utilized by customers to book an appointment or to communicate with the customer service or company manager. This essay...
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...inherent part of the service experience is that customers dislike waiting and this waiting influences the customer evaluation of service (Taylor, 1994). Kaiser Permanente’s business office is working on improving their customer service process time for financial aid applications. Currently the average completion time that a customer spends in the office is about 23 – 38 minutes from start to finish. The business office team made minor changes in their process flow to decrease bottlenecks in the process flow. The goal is that these improvements decrease the average wait time to 16 – 22 minutes. Over the past few weeks time studies have taken place to analyze if the process improvements that have been put in place have had a positive impact to the patients and staff. Before changing the process flow the business office observed the current workflow to establish the current confidence interval. The observations were random including both peak and non peak service times. In addition, the same amounts of observations were made on each day of the work week. In total 25 observations were performed with the time noted for each case. The average observation time prior to the change is 30 minutes. This 30 minute time is the baseline service time that the business office will work on improving. The business office will improve this time by decreasing the customer wait time or by managing the perception of the customers wait time. One factor that influences the...
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...Managing Strategy 1 Amazon STRATEGIC ANALYSIS OF AMAZON Submitted for: MBA IN MS (MANAGING STRATEGY) TUTOR: PAUL ANDERSON SUBMITTED BY: C0411672 Managing Strategy 2 Amazon CONTENTS Title..................................................................01 Contents....................................................... 02 Introduction.................................................03 Section 1 Current strategic position......................04 Macro environment.................................... 04 Micro environment......................................07 Strategic Capabilities................................10 Section 2 Current and Future strategy..................13 Bowman’s strategy clock.........................13 Section 3 Implementation issues............................... 16 Cultural web................................................16 Kotters 8 step theory................................18 Conclusion....................................................21 Reference list..............................................22 Appendix..........................................................30 Managing Strategy 3 Amazon INTRODUCTION Amazon is an e-commerce platform based organisation established in 1995 by Jeffrey P. Bezos. Amazon.com is based in Washington, United States. Amazon is recognised as customer centric e-commerce organisation giving wide varieties, low price offers and convenience to its customers by offering services virtually. ...
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...Chapter 15—Marketing Performance Measurement MULTIPLE CHOICE 1. The balanced scorecard measures the performance of a business unit from: |a. |a customer perspective. | |b. |a financial perspective. | |c. |a learning and growth perspective. | |d. |all of the above. | |e. |(a) and (b) only. | ANS: D PTS: 1 NAT: AACSB Reflective Thinking | CB&E Model Strategy | R&D Managing strategy & innovation 2. The level of marketing control that examines whether the strategy is being implemented as planned and whether it produces the intended results is termed: |a. |strategic control. | |b. |annual plan control. | |c. |strategic component control. | |d. |profitability control. ...
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...Manager’s Job in Context Contents Introduction……………………………………………………………………………………3 The organization……………………………………………………………………………… 3 Job Description of a manager in an organization......................................................................4 Organizational Structure...........................................................................................................6 Internal and external interactions of Managers.........................................................................8 Recommendation......................................................................................................................9 Conclusion...............................................................................................................................10 References...............................................................................................................................10 Introduction Organizations can be considered as a system which consists of a numerous number of people who coordinate and work together to achieve the common goal. Organizational behavior is the set of actions performed by the individuals or the attitudes of the individuals in a particular organization. For a manager it is very essential to study and understand the organizational behavior as it will assist him to identify and correct problems, establish necessary changes etc. Management or managers plays a vital role in organizational behavior and in achieving...
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...that person. When faced with a conflict in the workplace due to misunderstanding, settle it in a good way and do not take things personally (NALDZGraphics, 2015). To help overcome communications problems I will remember to speak clearly and describe all issues in a professional manner. Furthermore, it is always important to hear the voices of every person involved with the project. Therefore, to eliminate any communication difficulties I will listen to others ideas and thoughts, and conduct regular meetings in order give each one a chance to voice their opinions and ideas. Managing Expectations There is a lot of work that goes into managing a project; there is the strategic project development, budget consideration, and creation of a deliverables timeline. Unfortunately, all of that work can come to a halt when the same amount of time, energy and commitment is not place on managing project expectations. There...
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...and improve customer service Submission details Candidate’s Name | | Candidate’s ID number | | Assessor’s Name | | Due Date | | Assessment Date/s | | Time/s | | Instructions to Students 1. You must accurately complete the Student Assessment Pack. 2. Your Assessor may want to discuss written answers with you to get further evidence of your understanding and to check that it is your original work 3. You need to submit Assessment Cover Sheet for each assessment. 4. You are permitted to use dictionaries and to seek support, as required. 5. Where your work has been deemed as unsatisfactory, you will be permitted to resubmit the assessment. Refer to RGIT reassessment policy and procedure. 6. Unless the assessment task specifically allows pair work or group activities such as brainstorming, you must submit their own original work and are not permitted to copy the work of other students. Plagiarism is never acceptable. 7. Assessments must be submitted on their due dates. 8. Extensions are permitted in consultation with the trainer. Performance objective The candidate will demonstrate the ability to monitor, adjust and review customer service. Assessment description Using the background information on Innovative Widgets from your Student Workbook and from documentation provided throughout the course, you will develop strategies to monitor progress and obtain customer feedback. You will use performance information and customer feedback provided...
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...,demand, capacityFlow of Essay We will be first introducing our topic “Managing Demand and Capacity” through papers - “Managing the Tug of War between supply and demand in services industries” by “Gabriel Bitran” and “Susana Mondschein” and “Managing Service Organizations” by John Bowen and Robert C Ford. These papers explains the general challenges faced by services firms in managing capacity, demand and also describes generalized solution to solve those issues. After introducing our topic, we will delve in to specifics of “Managing Demand” and “Managing Capacity” through different research papers. Under the topic “Managing demand”, we have discussed two research papers- “Strategies for Managing Demand in Capacity-Constrained Services Organizations” by “Christopher H. Lovelock” and “Impact of demand management on the service system performance” by “David M Rhyne”. Under capacity management, we have discussed 2 research papers – “Capacity Management in Services Organizations” by Hans Corsten and Stephan Stuhlmann and “Capacity as a Strategic Marketing Variable” by Steven M. Shugan. .After this, we have discussed papers based on the solutions to manage both demand and capacity. We reviewed research papers “Optimum service capacity and demand management with price incentives “ by Özgür Özlük, Abdelghani A. Elimam, Eduardo Interaminense, and “Demand and capacity management decisions in services”, by Kenneth J. Klassen and Thomas R. Rohlede. In the end, we have picked up a specific...
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...MANAGING FOR STAKEHOLDERS: TRADE-OFFS OR VALUE CREATION1 One of the central uses of stakeholder theory, in its original form, was as a counterpoint to the idea that corporations should be managed in the interests of shareholders. As the theory developed the debate was often framed in terms of “shareholders vs. stakeholders.” While developing “theories of the firm” is an interesting and useful project, focusing solely on “theory of the firm” obscures a more important contribution of stakeholder theory. The purpose of this brief essay is to set forth what I consider to be the central insight of stakeholder theory: the jointness of stakeholder interests. The Basic Idea The basic idea of “managing for stakeholders,” as I now see it, is quite simple, and I believe it is closer to the origins of the idea from Eric Rhenman and the Tavistock thinkers. In fact, Juha Nasi was correct in his assessment of the Scandinavian origins of the stakeholder idea that focus on what holds stakeholder interests together. Nasi originally suggested that we focus on “intressent” in Swedish. “In Finnish this term was modified as “intressentti” or “sidosryhma” which could be translated as an “interest group” or even as a “linkage” or “bonding” or “binding” group.” (Nasi, 1995 at 98) It is this bonding or binding idea that is most interesting to explore. Managing for stakeholders asks us to see stakeholders as “bound together by the jointness of their interests.” So, the basic idea goes like this. Business...
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...links? An organization’s operations function is concerned with getting things done; producing goods and/or services for customers. Operations management is important because it is responsible for managing most of the organization’s resources. However, many people think that operations management is only concerned with short-term, day-to-day, tactical issues. All business organizations are concerned with how they will survive and prosper in the future. A business strategy is often thought of as a plan or set of intentions that will set the long-term direction of the actions that are needed to ensure future organizational success. However, no matter how grand the plan or how noble the intention, an Organization’s strategy can only become a meaningful reality, in practice, if it is operationally enacted. An organization’s operations are strategically important precisely because most organizational activity comprises the day-to-day activities within the operations function. It is the myriad of daily actions of operations, when considered in their totality that constitute the organization’s long-term strategic direction. The relationship between operations and the other business functions is similarly important. The objective of the operations function is to produce the goods and services required by customers whilst managing resources as efficiently as possible. Rane Brake Lining planned to transform it to compete with global players. Automatically...
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...Name___________________________________ TRUE/FALSE. Write 'T' if the statement is true and 'F' if the statement is false. 1) Companies can use configuration tables provided by the enterprise software to tailor a particular aspect of the system to the way it does business. Answer: True False 2) Enterprise systems are typically built around one or two major business workflows. Answer: True False 3) Enterprise systems are designed primarily to allow communication between an organization and outside partners and suppliers. Answer: True False 4) The upstream portion of the supply chain consists of the organizations and processes for distributing and delivering products to the final customers. Answer: True False 5) Supply chain inefficiencies can waste as much as 25 percent of a company’s operating costs. Answer: True False 6) Safety stock acts as an inexpensive buffer for the lack of flexibility in the supply chain. Answer: True False 7) The bullwhip effect is the distortion of information about the demand for a product as it passes from one entity to the next across the supply chain. Answer: True False 8) Supply chain execution systems enable the firm to generate demand forecasts for a product and to develop sourcing and manufacturing plans for that product. Answer: True False 9) To minimize the expense of implementing an enterprise system...
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