...Directors of Jessop ltd wants to know how a management accountant can contribute on Jessop’s continuous growth. I find on my study strategic management is very likely forward looking not like traditional cost accounting. Strategic management accounting is considering external factors like competitors and management accounting contributes not only strategy developing also critically evaluates the current strategy of any organisation. In addition, management accountant can assist to control costs by implementing activity based costing methods, offer competitive pricing, budgeting process etc. Also, by applying benchmarking process, management accountant can discover strengths and weakness of Jessop ltd and way to overcome these weaknesses and keep their steady growth by exploiting all strengths. In the second chapter of this study has described various types of relevant and irrelevant cost as well as tells which costs should management of Jessop be included on total cost calculation and why should not consider. Overall impacts of relevant and irrelevant costs (revenue) on decision making has depicted on that chapter in brief form. Focal point of final chapter is on how Jessop will be beneficiary by successful implementation of activity based costing (ABC) and various problems of execution of ABC which may offset all those benefits. Concluded in concise small or medium sized organisation should use ABC or not. Chapter one 1.0 Introduction Jessop Ltd is a medium...
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...IT at Jessops: In the current economic climate, its essential to Jessop’s to continue expanding as a company. Information system and IT in general is a crucial factor in any companies’ strategies and successful companies are those who can use this asset efficiently and accurately in all aspects of their work. Jessops have traditionally been operating in stores; however they have now entered e-business by launching their online platform. Jessops website provides an easy to use website, where potential customers are able to gain a clear understanding of products and services on offer. IT is a determinant factor in success of the website as it opens their market to a whole new range of customers as increasingly more people choose to shop online due to its obvious convenience. Information systems also are responsible for supporting various functions within the company and across different departments such as: Marketing Jessops online services are a platform to not only sell products, but an essential place to advertise their products too. Furthermore data storing is used to build customer profiles. Every time a purchase is made by a registered costumer, those data are stored and then processed in order to build a typical customer profile. This can then be used in the future to suggest products and offers to costumers with similar interests. Offering more In order to differentiate themselves from their competitors and gain an advantage, Jessops also offers...
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...Purchasing & Supply Management Jargon Buster from The Chartered Institute of Purchasing & Supply P&SM Jargon Buster V1 Introduction As with many other professions in the business world the Purchasing & Supply Management (P&SM) profession is no different. It suffers from the use of jargon and acronyms that may be difficult to interpret and understand. The objective of this document is to define some of the acronyms commonly used and clarify the Jargon. Clearly this product cannot take account of all jargon used but will attempt to achieve clarity where possible; this document does not replace ‘The Official Dictionary of Purchasing & Supply (Terminology for Buyers and Suppliers) by Professor Jessop and H.K Compton. Jargon affects all procurement professionals and non-professionals and this product is formulated for use by the whole of the P&SM profession and everyone who interacts with it. P&SM Jargon Buster V1 A ABC – Activity Based Costing An approach to the costing and monitoring of activities that involves tracing resource consumption and costing final outputs. (Source: Accounting for Non Accounting Students 4th Edition J.R Dyson, Pitman Publishing) ABC Management Application of Pareto’s Law of the 80/20 rule: ABC classifications are determined in ascending rank order of all products according to the product classification as a percentage of the total purchasing spend. Ranking can also be by volume, value, weight etc. ACH – Automatic Clearing House ...
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...Procurement and Marketing In International Environment The importance of “Marketing” as a concept, a practice and an orientation as being fundamental to the competitiveness and the survival of almost every organisation cannot be over emphasis in today’s business environment. Marketing is a broad topic that covers a range of aspects, including advertising, public relations, sales, and promotions and the strategies and approach adopted in implementing such tasks can be a deciding factor in the competitiveness and survival of the organisation. According to the American Marketing Association (AMA), marketing is defined as “Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.”[i] It is important because the world has become globalised and from a national stand point economic isolationism has become impossible. Failure to participate in the global market assured a nation of declining economic capability and its citizen of decrease in their standard of living.[ii] Marketing has been and will continue to be a function for the survival of any organisation. Most businesses are expanding and getting into new market areas for economic and strategic reasons and it is becoming increasingly difficult, if not possible, for companies to insulate themselves from the effect of international marketing environment, even if their products are designed...
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...Effective Management of the Aging Workforce OL-500 Southern New Hampshire University September 10th, 2014 Introduction The baby boomer generation, those born between 1946-1960, brought forth sweeping changes in society. Not only did the population increase exponentially they also brought forth changes in the social and economic scene. From free thinking to war protests and a drop off from attending conventional religious services the boomers were the first social rebels that challenged the way we live and work. Many of this generation where the first of their family to attend college or some sort of secondary education from high school. The boomers also broke away from traditional workplace conformity and began to chart their own path to success. (Bruce, 2009). This meant longer working hours, less traditional work weeks, and the tendency to become “workaholics”. By doing so many of the boomer generation are now in upper level management of most companies and businesses As the Baby Boomers draw close to retirement age new challenges will arise in the work place. Who will take their place? Is the next generation of workers ready for the challenge? Do they have the same ideals and principles of the outgoing workers? Management is tasked with making this transition as smooth as possible while dealing with an ever growing diverse work force. Technology will play a key role in the sweeping changes facing a workplace as well as older workers trying to learn...
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...Introduction to management Barak Remalli DATE \@ "d MMMM y" 9 April 2015 “Are idea’s such as mutualism and industrial democracy of relevance to the 21st Century business management?” The world as we know it today is in constant advancement of technology and knowledge. In result, economists have developed a myriad of theories that have shaped and changed the way we manage people, time and resources. Organisation theorists such Russell Ackoff, Warren Bennis & Chris Argyris have been advocating the need for a more ‘free-form, humanistic, and democratic organisation’ (Nodoushani & Nodoushani para. 23), whereas theorists with the names of Henry Ford and Frederick W. Taylor oppose such notions. Some theories stand true and thrive in today’s economy, while others have faded as time has progressed. However, are ideas such as mutualism and industrial democracy of relevance to the twenty first Century business management? Is there still social and economic inequality? Or do citizens have natural rights to liberty, justice and property? Perhaps these ideas may have been diminished with time? This paper argues that the business management has had a major shift in its structure due to the concepts and influences of mutualism and industrial democracy. Although these ideas may not be prevalent in its purest form, there have been major refinements in the structuring of management in twenty first century, including the focus on de-layering and a more co-operative environment....
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...FACTORS AFFECTING THE PROCUREMENT EFFICIENCY IN PRIVATE HOSPITALS IN KENYA (A CASE STUDY OF CONSOLATA MISSION HOSPITAL, NYERI) NDUNG’U MARGARET NJERI A RESEARCH PROJECT SUBMITTED TO THE DEPARTMENT OF LOGISTICS AND SUPLLIES MANAGEMENT DEDAN KIMATHI UNIVERSITY OF TECHNOLOGY IN PARTIAL FULFILLMENT OF THE REQUIREMENTS FOR THE AWARD OF DEGREE IN BACHELOR OF PURCHASING AND SUPPLIES MANAGEMENT. MARCH 2015 DECLARATION I Ndung’u Margaret Njeri, declare that the material in this research project has not been submitted to any university or institution of higher learning for any academic qualifications. This research project is a result of my own independent research effort and investigation Signature …………………………… Date………………………… Ndung’u Margaret Njeri ADM No.: B011-0678/2011 This research Project has been submitted for examination with my approval as The University Supervisor: Signature…………………………... Date……………………… Mr. ZakaryNjoroge DEDICATION This project is dedicated to my mum Ms. NjokiNdung’u for her financial and moral support geared toward my academic success; also to my friends Benson Kiarie, Ivy Patrick and Lucy Githinji for their support and motivation. Table of Contents DECLARATION ii DEDICATION iii List of figures vi List of tables vi ACKNOWLEDGEMENT vii ABSTRACT viii LIST OF ACRONYMS/ABBREVIATIONS ix OPERATIONAL DEFINITION OF TERMS x CHAPTER ONE 1 1.0 INTRODUCTION 1 1.1 Background of the...
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...Porter’s value chain model (Oliveira and Gimeno, 2014, pp. 68-69) will be used to give a brief introduction of the main activities which would add value to the products of Amazon, some analysis of the coherence between business model and these activities will also be given. For the analysis of value chain, support activities are combined with primary activities since both of them are related to add value on producing products or rendering services for customers, and you will find out that most of the focus is on reducing costs and Customer Service. In terms of inbound logistics, to offer lower price products to customers, combined with the procurement process, Amazon purchased some of the stocks directly from publishers rather than from distributors to get the best bargain (TV Khmer Bayon, 2011); Also, by utilizing accurate forecasting system (Willden, 2015) , Amazon has the capability to gather sufficient information from customer to avoid the returns to suppliers, which reduce the costs as well. Both of the actions are in consistent with selling products at cheaper price. To get the quicker delivery for customers, which in according with improving customer service, Amazon started keeping the frequently-sales products in stock even on holidays and Amazon has partnered with the U.S. Postal Service to leverage underutilized weekend capacity. As for operations, Bezos decided to outsource some of the inventory management in 2001 in order to cut operational cost so that Amazon...
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...Understanding Organisational Behaviour IB1230 ID: 1323413 Describe how either Taylor or Ford changed organisational management and workplace practices. Critically analyse how they continue to influence contemporary organizational behaviour Student ID: Word count: 1976 Submission Date: 1 1323413 20/01/2014 Understanding Organisational Behaviour IB1230 ID: 1323413 Introduction “In the past the man has been first; in the future the system must be first.” Frederick Winslow Taylor. In the late 19th century, Frederick Winslow Taylor, known to many the forefather of scientific management, sparked the automation revolution, the third great transition in the history of humanity (after the Neolithic Revolution, a result of the development of agriculture around 6,000 B.C and the industrial revolution in the 18th century) (Souza, 1999, p.1). However, it can be argued that Taylor’s greatest contribution to capitalism was not the revolution itself, but how Taylorism brought about the era of competition and syncretism with contrasting or corresponding concepts on organisational management and workplace practices, particularly Fordism, which arguably extended the dynamics of Taylorism centered on the use of assembly line. This essay will examine how Fordism developed organisational management and modified workplace practices by exploring known historical application of its principles and theories. Thereupon, it will further analyse how elements...
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...DATE: November 16, 2015 FROM: Tyler Haertzen TO: Dr. Stanley SUBJECT: Collective Bargaining and its Accounting Impact on NFL Franchises Introduction The purpose of this memo is to describe to the reader the basic structure of the NFL Collective Bargaining Agreement and its impact on the accounting decisions of a traditional franchise in the National Football League. Just like most other businesses, an NFL franchise is a business whose goal is to generate as much profit as possible while precisely adhering to specific rules and regulations of not only the IRS, but also the league itself. This mainly includes the league’s Collective Bargaining Agreement, which contains certain rules that owners have creatively exploited. The activities of franchise league owners are often viewed as being limited to acquiring, managing, and trading players, but few understand that there are complex accounting practices that go on in the team offices that make all of these transactions possible. The following paragraphs will begin to examine what NFL franchise owners have to account for with the CBA and how they maximize profits with these limitations. What is the CBA? The NFL’s Collective Bargaining Agreement (CBA) is an agreement between the franchise owners of each NFL team and the NFL Player’s Association. It is split into two separate concepts that are also intertwined: revenue sharing and player compensation. The NFL uses these two components to promote competitive balance...
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...Student-Nr. W11035726 Total words: 2790 1. A good acquisition program helps the acquirer to identify a target partner. An acquisition program should contain a clearly defined core strategy, the goals of this activity, and a detailed risk management. The identification of the right company depends on the analysis of target market. Companies react when they recognize benefits in some certain markets. It is essential for an acquirer to analyse the market, is there any market in transition that could lead to any competitive advantages or any business capacities that could be useful (Chatterjee). Kraft has to consider which qualifications they seek in the business partner and which one complementary or expand their capacities. (Cavusgil, Knight and Riesenberger, 2008) An analysis of the macro environment of Kraft shows that they have the opportunity to become the world’s largest confectionery. This market prospect allows Kraft to minimize the threats of competitors. It is a strategy to eliminate or to minimize competitors. (Chatterjee) In food and drink manufacturing, the technology is relatively mature. The global food market shows oligopolistic structures and the competition is intense. As a result of that, the market growth almost remains static. (Ramsay, 2000) In addition, different national tastes and preferences may cause also restrictions for international expansion. (Kapferer, 1997; Yip, 1992). A lot of companies consider acquisitions as essential strategies...
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...Write a short critical essay explaining how the poor economic climate in the UK might affect the marketing mix of a start-up retail venture in the high street. I will look critically at setting up a retail business on the high street in the current economic climate and the affect this may have on the marketing mix. I will first give a brief overview of the economic situation in the UK and high street retail in general. The UK economy has undergone a protracted period of instability since the banking crisis of 2007/08, which sparked economic downturn for the UK and caused a dramatic fall in both consumer and business confidence. Between 2008 and 2012, the UK experienced two periods of recession and has been subject to austerity measures, such as public spending cuts, welfare reforms and increased taxation, imposed by the UK Government in an attempt to reduce the country’s budget deficit and reverse economic decline. These measures coupled with high inflation, rising levels of unemployment and low wage growth have contributed to less disposable household income and subsequently lower consumer spending across most of the UK. The economic constraints of the last five years, such as falling consumer spending, increasing operating costs for businesses (20% rise since 2006) alongside less available, affordable borrowing to businesses have led to large numbers of high street retailers closing their doors. The Centre for Retail Research (2013) reported that 54 retail companies...
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...EFFECTS OF POOR QUALITY GOODS AND SERVICES PROCURED BY GOVENRMENT AGENCIES ON SERVICE DELIVERY; A CASE STUDY OF THE MINISTRY OF HEALTH KERICHO DISTRICT HOSPITAL BY CHERUIYOT KIPYEGON BEN BBM/3111/12 A RESEARCH PROPOSAL SUBMITTED TO MOI UNIVERSITY IN PARTIAL FULFILMENT AND REQUIREMEENT FOR THE AWARD OF A DEGREE IN BACHELOR OF BUSINESS MANAGEMENT MARKETING MANAGEMENT OPTION FEBRUARY 2014 DECLARATION DECLARATION BY THE CANDIDATE This research study is my original work and it has not been presented to any other Institution. No part of this research should be reproduced without my consent or that of Moi University SIGN: ______________________DATE: ____________________ CHERUIYOT KIPYEGON BEN BBM/3111/12 DECLARATION BY THE SUPERVISOR This Research has been submitted with my approval to Moi University as the candidate’s research proposal supervisor. SIGN: _______________________DATE: ____________________ MR. J. OMANGA SUPERVISOR - RESEARCH PROPOSAL DEDICATION I dedicate this work to my family for their unwavering support that saw me complete the research project, more so to my Sisters Florence for ensuring that my study was a success and Lily for proof reading this research proposal. ACKNOWLEDGEMENT I wish to thank my Supervisor Mr. James Omanga for his guidance...
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...Consumers and food waste – a review of research approaches and findings on point of purchase and in-household consumer behaviour Aschemann-Witzel, Jessica1; de Hooge, Ilona2; Amani, Pegah3; Bech-Larsen, Tino1; Jenny, Gustavsson3 1 MAPP - Centre for Research on Customer Relations in the Food Sector, Aarhus University, Bartholins Allé 10, DK-8000 Aarhus C, Denmark. 2 Wageningen University, Hollandseweg 1, 6706 KN Wageningen, Then Netherlands. 3 SP Technical Research Institute of Sweden - Food and Bioscience, Box 5401, SE-402 29, Göteborg, Sweden. Paper prepared for presentation at the EAAE-AAEA Joint Seminar ‘Consumer Behavior in a Changing World: Food, Culture, Society” March 25 to 27, 2015 Naples, Italy Consumers and food waste – a review of research approaches and findings on point of purchase and in-household consumer behaviour Introduction Around a third of the world´s food is wasted at various steps of the supply chain (FAO, 2011). In Europe, the largest and increasing share is wasted at the consumer level (EPRS, 2014). The issue has gained considerable public attention in the past years, with a large number of initiatives developed by different stakeholders such as policy makers, retailers (e.g. France, Intermarché, 2014) and NGOs (e.g. Denmark, Stop spild af mad, 2014), and research projects that have and are exploring the issue (CONANX; FUSIONS). Furthermore, the European Parliament has called for 2014 to be the ‘year against food waste’...
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...MICE Industry:Business Travel Business visitors to London in the first three months of 2010 grew by 5% Business trips to the UK capital up despite tough economic climate Wednesday, July 21, 2010 The number of business visitors to London in the first three months of 2010 grew by 5% over the same period last year. This is the first quarterly rise since the second quarter of 2007. Meanwhile, spending by people on business trips leapt by 21%, up to almost £500m. These strong figures, published by the International Passenger Survey, come despite difficult economic conditions. The survey also found that overall visitor numbers to London in the first quarter fell by just 1% from the same period in 2009. This compares with a fall of 5% nationally. This drop in numbers is partly a result of severe weather conditions during the quarter that led to travel problems into and out of the UK. Sally Chatterjee, CEO, Visit London said: “London continues to be a focal point for global business, even in the face of challenging economic conditions. The jump in spending by business visitors is a reflection not just of returning confidence but also of the unrivalled range of restaurants and attractions on offer in the capital.” The US brought in the most business passengers. Numbers were up 10% and expenditure by 30%. Numbers from France were up 33%, Spain 57% and Germany 13%. In terms of holiday visitors, France brought in the most people. German numbers spiked by 16%, while the number of Irish...
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