...1) Financial management deals with 2 things, managing a company’s finances and: RAISING MONEY 2) Which of the following was not identified as 1 of the 4 main financial objectives of a firm? TIMELINESS 3) The 4 main financial objectives of a firm are: PROFITABILITY, LIQUIDITY, EFFICIENCY, STABILITY 4) Match the financial objective with the correct definition: STABILITY/ THE OVERALL HEALTH OF THE FINANCIAL STRUCTURE OF THE FIRM, PARTICULARLY AS IT RELATES TO ITS DEBT-TO-EQUITY RATIO 5) … is a company’s ability to meet its short-term financial obligations LIQUIDITY 6) A company’s ability to productively utilize its assets relative to its revenue and its profits is referred to as: EFFICIENCY 7) Southwest Airlines uses its assets very productively. Its turnaround time, or the time that its airplanes sit on the ground while they are being loaded and unloaded, is the lowest in the airline industry. In terms of the primary financial objective of a firm, this attribute is a measure of Southwest’s: EFFICIENCY 8) … are projections for future periods based on forecasts and are typically completed for two to three years into the future: PROFORMA FINANCIAL STATEMENTS 9) A(n) … is a snapshot of a company’s assets, liabilities, and owner’s equity at a specific point in time BALANCE SHEET 10) Real estate, buildings, equipment and furniture are classified as … on a company’s balance sheet. FIXED ASSETS 11) Cash plus items that are readily convertible to...
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...Intellectual Property Issues and E-Business Sample Test Questions for Final Exam Multiple Choice or True-False Listed below are several questions that are representative of the type of questions on the final exam. Please note that you must make only one selection for each question; further, there is just one answer for each question. 1. One-click mechanisms and shipment tracking are associated with which phase of the Customer Service Life Cycle? a. b. c. d. e. Retirement Acquisition Ownership Requirements Management b ANSWER: 2. Business methods are associated best with which form of intellectual property? a. Copyright b. Trademark c. Trade Secret d. Patent ANSWER: d 3. E-business today does not present any unusual problems associated with jurisdiction. a. ANSWER: True b b. False 4. Which statement below is correct? a. b. c. d. The EU encourages business method patents The US discourages business method patents Business method patents are not found in the US today Business method patents are found in the EU today d ANSWER: Fill In The Blank Each statement has a blank space associated with the question. You are to select the correct response from the list of responses provided to answer each statement. Write the number associated with your response in the space next to the statement. Please note that there are more responses in the list than there are statements. Thus, not every response will be used, and no response is used more than one time. List of Possible...
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...HOW HAVE MODERN ACCOUTING SYSTEMS MADE A DIFFERENCE IN MODERN ORGANIZATIONS? Matt Copeland ACC 205 Rachel Durmstadt June 20, 2011 HOW HAVE MODERN ACCOUNTING SYSTEMS MADE A DIFFERENCE IN MODERN ORGANIZATIONS? For the past ten years I have been running my own business, Decisive Realty. I am a real estate investor that purchases apartment building and rent them out to tenants. This has caused me to manage my finances by creating my own accounting methods. My methods are effective but require a lot of brushing and polishing. In other word, it needs to be revamp. Taking this class has made me realize possibilities that I will implement to be more efficient. The accounting system that I have learn over the past five weeks will be applied to my business to make it more manageable, alleviate the guess works, and assist me in measuring success or failure. Modern accounting has assisted small business like mine and large corporations to organize their business and keep track of important details. In this paper I will present circumstances where modern accounting has contributed to the success of businesses. I will also present examples of modern accounting systems assisted modern organization in the business world. Accounting is the recording, tracking, and reporting of the finances of an organization. Having several apartments is a service that involves the managing of rent collection, maintenance, utilities, and repairs just to name a few. All of which includes financial aspects...
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...THE EVOLUTION OF TECHNOLOGY: COMPARING COMMUNICATION METHODS OF MODERN SOCIAL NETWORKS TO RURAL INDIGENOUS GROUPS [DO NOT CITE WITHOUT PERMISSION OF THE AUTHORS] 1 ABSTRACT “It has become appallingly obvious that our technology has exceeded our humanity” (Einstein 1875-1955). This quote by Albert Einstein shows the vast technology changes experienced by humanity. The early indigenous tribes and groups had developed systems of communication and networks to conduct their daily activities (ie. trade, etc) with the use of technological resources which were far inferior compared to modern day. They created social networks to communicate and share common interests during their interactions. A social network defined is a social structure that encompasses individuals and organizations who become connected through sharing of common interests, for example in friendship, beliefs, knowledge, etc. In the modern era, post 1950s, humankind had begun to see a sharp climb in technology uses to ease daily tasks and activities. They created a social structure such that much of the interaction and creation of social networks revolves around the use of technology as a resource. Technology in the modern era has begun to be viewed as a means of effective communication and function for a majority of individuals. The comparison between rural indigenous groups of the past and the modern era communication methods can be studied to see whether technology has increased level of communication. ...
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...1. Discuss the company’s advertising strategy and how it aligns with its marketing goals. My company of choice here is Modern Furniture Hardware. My company will sell all kinds of modern furniture which include: sofa’s both leather and fabric, beds, dining chairs and tables, outdoor furniture and cabinets. The purpose of advertising is to persuade potential buyers that they want and need what a company has to offer. Successful advertising creates and nurtures that sense of need, and then persuades people to get up and go get whatever companies are promoting (Nickerson, 2007). We will create awareness of our business through advertising media; TV and radio to get its name and details of its product and benefits out to the consumers. We will use flyers which will be distributed locally and through the mail, local newspaper advertisements, and word of mouth. Our company will develop an online sales platform that will allow the business to generate sales from outside of the company retail location. Most people are shopping online today more than they did five years ago and I believe our company will sell more through online advertisement. This will done by developing a website and placing the company name and contact information with online directories. The company will also have a feature to request a catalog from the website. Modern Furniture Hardware intends to implement marketing campaigns that will effectively target individuals within the desired market. The main goal...
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...Executive Summary This assignment outlines the practices of effective budget in two entirely different businesses and the importance of effective working capital management in a manufacturing company. The first part of this paper describe that how the budget is exercised in two businesses where one of the business operates in a static market place and another one business operates in a very dynamic environment. Traditional approach of budgeting and budgetary control is still widely used by most companies throughout the world despite of limitations but In current very fast innovative modern environment, traditional budgeting approach is not only budgeting model there are some effective alternatives budgeting models that business are using to fulfill the modern requirements of company’s strategy such as: activity based budgeting, zero based budgeting and beyond budgeting approaches. I describe each of budgeting method that how can such models help the modern company more efficiently with their budgeting and budgetary control. The second part of this paper describes how a working capital cycle plays an important role in a manufacturing business and how each of cycle can be improved individually such as inventory, trade debtors, trade creditors and cash to achieve optimal profit for the company. Budget and Budgeting “A budget is a plan which is expressed in financial and or more general quantitative terms that extends forward for a period into...
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...human relations approaches still applicable to organization of the 21st century? Scientific management and human relations approaches had been a well-known and well-used in business management in the 1900s. It is, however, still a question whether or not those methods are applicable to organization of the 21st century. Some opinions stated that these practices are still appropriate for organizations nowadays due to the benefits and effectiveness they brought to the organization, while other people based on the grounds of different features between recent organizations and organizations of decades ago to disregard the effectiveness of any of management theories from the 20th century. Therefore, the main focus of this essay will be demonstrating the illustration of some principles of scientific management and human relations approaches, comparison between them and writer’s personal view of their capabilities to determine whether or not they are still suitable for the modern organization. Even nowadays, it is no difficult to find examples of Scientific Management, for instance the car and computer manufacturing plants, work environment and anywhere that required a strict and accurate function to serve men. In fact, these methods of working seem so commonplace and so logical to a citizen of the modern world that it is almost impossible to accept that they were revolutionary only 100 years ago by Frederick Winslow Taylor. Taylor began his research to insure that factual scientific...
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...Recruitment Methods and Strategies Michael Obesso Saint Leo University Abstract This paper discusses recruitment methods and strategies and demonstrates how beneficial it is for a company when recruiting is done right. This paper discusses techniques used by recruiters to find job candidates to include modern, internal and external methods of recruiting. Additionally this paper looks at strategies companies use to attract possible candidates. Strategies discussed consist of inviting candidates to events, showing candidates you want them, looking for talent in unlikely places, and using social networking sites. Recruitment Methods and Strategies Recruitment is an essential part of any business, and it pays to do it properly. When companies choose the right people for the job, treat them appropriately and train them well, these people will tend to stay with the company longer and produce exceptional results. In such conditions, the organization’s initial and continuing investment in them is well rewarded. Recruitment is a process of locating and employing the best-qualified candidate for a job, in a cost- effective and timely manner. Recruitment consists of analyzing the requirements of a job, drawing employees to that job, screening and selecting applicants, hiring, and incorporating the new employee to the organization. Traditional Recruiting Methods Even with the fast pace of change in HR methods, most classic recruiting methods still play an important role in...
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... | |Frederick W. Taylor’s influence on modern understanding of contemporary management functions and the employer-employee relationship. | |Introduction | | | |Although being one of history’s most criticized management theorists, Frederick W. Taylor has justly earned himself the title as the | |‘father’ of scientific management | |Main techniques including time and motion study, monetary reward, standardization, goal setting and the managers responsibility for | |training are now incorporated into modern businesses and companies, building upon currently accepted understanding of contemporary | |management functions, influencing the preconceived belief that “labour-management conflict was virtually inevitable”, and improving | |employer-employee relationships. | |Although these techniques are still reflect in modern day companies such as Tesco and Toyota, Taylor is still criticized for having an | |over simplified view...
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...21, 2010 Jeff Hough Modern taxation comes from a long history of changes in the United States beginning with the Revenue Act of 1861 that was designed to assist with funding the Civil War. This tax was repealed 10 years later. “In 1894 Congress enacted a flat rate federal income tax, which was ruled unconstitutional the following year by the U.S. Supreme Court because it was a direct tax not apportioned according to the population of each state” (Terrell, 2009, History of Tax Law, para. 2). In 1913, the Sixteenth Amendment enacted modern day federal income tax in the United States. Before 1913, the federal government relied on customs duties and excise taxes as its source of income. As America developed the U.S. government needed additional income to sustain its operations. The Sixteenth Amendment consisted of just one sentence: “The Congress shall have the power to lay and collect taxes on incomes, from whatever source derived, without apportionment among the several States, and without regard to any census or enumeration” (Pope, Anderson, & Kramer, 2010, p. 1-3). The implementation of income tax remains one of the most remarkable institutions created in this era. Modern Income Tax Statutes The primary objective of modern tax statutes is to generate revenue to sustain governmental operations. The largest source of federal revenues is individual income taxes. Other sources come from corporate income taxes and Social Security. Modern day individual income taxes...
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...Introduction More than a hundred years from the first publication of “ the principles of scientific management” by Frederick W. Taylor, the founder of scientific management, came into the public (Evans and Holmes, 2013). According to Hales (2013), scientific management was defined as a broader adaptation and extension of Taylor’s principles publicized by his followers. These Principles could be described into mainly three parts. Firstly, there should be new scientific methods for each element of labor to replace the antiquated management method mainly on the basis of experience. Secondly, the selection of workers should be scientific and the employers have the duty to training and educating their employees. Thirdly, cooperate with workers and ensure that all work could be finished step by step. The purpose of this paper is to discuss the significance and future of scientific management. It starts with the contribution of this theory as well as the humanistic criticism of it. Finally, the author gave an introduction of the new modern scientific management and tried to provide a different view of scientific management and explore another kind of patterns of it. 2. The Significance of Scientific Management 1. Efficiency and Economic Development It is impressive that scientific management did bring the improvement of efficiency in enterprises and workers’ welfare. A set of statistics shows that the manufacturing output per worker per hour increased form 21.2 to 52.0 during a period of 40...
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... 5). It is a method that includes advertising, market research, promotion and selling of products or services to make a business profitable (Kotler, et al, 2012, p. 5). In business there are two critical functions, innovation and marketing, which in the company’s eyes it can mean understanding and knowing the customer so well that the product or service fits their needs. Marketing is about how and what is said to explain how awesome an organization’s product is and why the people should purchase the product or service that is being advertised (Kotler, et al, 2012, p. 5). With that in mind, the objective of this post will explain how marketing managers can effectively utilize modern marketing strategies and plans to deal with the numerous changes in business and its environment that can potentially impact the company’s brand image and the customer’s perception of the overall organization. Technological changes are increasing at a faster pace which means that organizations must continue to utilize several modern techniques to obtain consumers and make notifications. For instance, most businesses utilize several modern marketing techniques that include videos and social media (Facebook, Twitter, and Reddit, etc…). After comprehending that Mr. Stahl said that organizations have to continuously monitor and be alert of the changes in the environment; there is no doubt that modern marketing techniques will no longer be called modern. There are numerous methods designed to market...
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...face-to-face interviews. It may sound prehistoric to many of us, but it’s the fact. Let’s face it, the industry has been moving fast and today’s high-fliers teenagers with the amount of time they spend staring at computer screens, ipads, social media sites etc.. Arguably, the old way is more personal and the new is more scientific, but the big debate is which method gets the best results? Recognising traditional sources of Recruitment Before technology took hold, there was a lot more personal interaction happening between the candidates and the clients. Recruiters spent hours speaking to clients and industry contacts either on the phone, in one-to-one meetings, over lunch or at networking events. Besides getting down to business, they were picking up valuable industry trends and hot tips on who might fit a role along the way while building relationships. When they weren’t connecting with potential young jobseekers at college careers fairs, they’d be finding candidates by analyzing their target market and placing ads in the relevant newspapers and magazines as well as cold calling and trawling through business cards and old CVs. Then the job applications poured in...
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...job fragmentation to minimize skill requirements and job learning time, * separates execution of work from work-planning, * separates direct labor from indirect labor * replaces rule of thumb productivity estimates with precise measurements, * introduces time and motion study for optimum job performance, cost accounting, tool and work station design, and * makes possible payment-by-result method of wage determination Named after the US industrial engineer Frederick Winslow Taylor (1856-1915), Taylor believed that the industrial management of his day was amateurish, that management could be formulated as an academic discipline, and that the best results would come from the partnership between a trained and qualified management and a cooperative and innovative workforce. Each side needed the other, and there was no need for trade unions. His approach is also often referred to, as Taylor's Principles, or frequently disparagingly, as Taylorism. Taylor's scientific management consisted of four principles: * Replace rule-of-thumb work methods with methods based on a scientific study of the tasks....
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...EBMA Level 8 Diploma in strategic Business Research and Leadership Direction Unit Title: Strategic Financial Analysis and Planning Table of Contents Executive Summary 3 1.Critique and evaluate research ....... 4 2.Critically apply modern financial tools 6 3.Use main types of investment appraisal tools 8 4.Critically evaluate the importance of research 10 References 11 Executive Summary The decision making of management is very crucial and involves various analysis to be performed. There are various ratios and methods that can be useful for mitigating the risks and increasing the expected returns with investments. The financial forecast is a mix of the behaviour, perception of management alongwith various techniques used for analysis of the different options available. Critique and evaluate research in financial theory and apply that research for decision making process 1.1 Describe the economic theory of choice as an illustration under certainty. The rational behind the economic theory of choice is to choose out of certain economic outcomes and representing the preferences through maximisation of the utility function of the outcomes. As per the von Neumann-Morgenstern expected utility model (1953), which is the workhorse of recent economics, the choices are made by people, so as to get the maximum utility. These preferences are based on intuition, self interest, past experiences etc...
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