...Overview of Strategic Management A Comprehensive Strategic-Management Model Strategy Evaluation Strategy Evaluation Strategy Implementation Strategy Implementation Strategy Formulation Strategy Formulation Measure and Evaluate Performance Measure and Evaluate Performance Implement Strategies – Marketing, Finance, Accounting, R&D and MIS Issues Implement Strategies – Marketing, Finance, Accounting, R&D and MIS Issues Generate, Evaluate, and Select Strategies Generate, Evaluate, and Select Strategies Implement Strategies – Management Issues Implement Strategies – Management Issues Establish Long-Term Objectives Establish Long-Term Objectives Perform Internal Audit Perform Internal Audit Perform External Audit Perform External Audit Develop Vision and Mission Statements Develop Vision and Mission Statements Strategic Management can be defined as the art and science of formulating, implementing, and evaluating cross-functional decisions that enable an organization to achieve its objectives. Develop Vision and Mission Statements A vision statement should answer the basic question, “What do we want to become?”. A clear vision statement provides the foundation for developing a comprehensive mission statement. An enduring statement of purpose that distinguishes one organization from other similar enterprises, the mission statement is a declaration of an organization’s “reason for being”. It answers the pivotal question “What is our business...
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...JOURNAL OF MANAGEMENT ACCOUNTING RESEARCH Volume Fifteen 2003 pp. 95–116 Practice Developments in Budgeting: An Overview and Research Perspective Stephen C. Hansen The George Washington University David T. Otley Lancaster University Wim A. Van der Stede University of Southern California Abstract: Practitioners in Europe and the U.S. recently have proposed two distinct approaches to address what they believe are shortcomings of traditional budgeting practices. One approach advocates improving the budgeting process and primarily focuses on the planning problems with budgeting. The other advocates abandoning the budget and primarily focuses on the performance evaluation problems with budgeting. This paper provides an overview and research perspective on these two recent developments. We discuss why practitioners have become dissatisfied with budgets, describe the two distinct approaches, place them in a research context, suggest insights that may aid the practitioners, and use the practitioner perspectives to identify fruitful areas for research. INTRODUCTION udgeting is the cornerstone of the management control process in nearly all organizations, but despite its widespread use, it is far from perfect.1 Practitioners express concerns about using budgets for planning and performance evaluation. The practitioners argue that budgets impede the allocation of organizational resources to their best uses and encourage myopic decision making and other dysfunctional budget games....
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...in business operations through a survey of major business functions (management, production, marketing, finance and accounting, human resource management, and various support functions). Offers an overview of business organizations and the business environment, strategic planning, international business, and quality assurance. INSTRUCTIONAL MATERIALS Required Resources Kelly, M., McGowen, J., & Williams, C. (2014). BUSN (6th ed.). Mason, OH: South-Western Cengage Learning. (Note: This is a textbook uniquely created for Strayer and can only be purchased via Strayer’s Virtual Bookstore, available through iCampus. The chapters within this custom textbook are the same as those from the national title, only rearranged in a different order.) Supplemental Resources Asare, S. K., & Wright, A. M. (2012). Investors’, auditors’, and lenders’ understanding of the message conveyed by the standard audit report on financial statements. Accounting Horizon, 26(2), 193-217. Aytaç, G., & Turan, O. Z. (2012). Issues of business ethics in domestic and international businesses: A critical study. International Journal of Business Administration, 3(5), 82-88. Bulu, I., Radojicic, M., & Nesic, Z. (2012). Some considerations on modern aspects of marketing promotion. Technics Technologies Education Management, 7(4), 1741-1750. Franks, R. A., & Spalding, A. D. (2013). Business ethics as an accreditation requirement: A knowledge mapping approach. Business Education & Accreditation...
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...Daryush Farid, Mehran Nejati, Heydar Mirfakhredini, Balanced scorecard application in universities and higher education institutes: Implementation guide in an iranian context / Annals of University of Bucharest, Economic and Administrative Series, Nr. 2 (2008) 31-45 BALANCED SCORECARD APPLICATION IN UNIVERSITIES AND HIGHER EDUCATION INSTITUTES: IMPLEMENTATION GUIDE IN AN IRANIAN CONTEXT DARYUSH FARID, َ EHRAN NEJATI, HEYDAR MIRFAKHREDINI∗ M Close compete of universities and higher education institutes in recent year in order to offer high quality services and achieve higher national and International rank, has led to an increase in their demand for a customized approach for assessing and improving their performance. This paper studies the application of Balanced Scorecard (BSC), as a powerful measurement and assessment system, in universities and higher education institutes. Reviewing the existing literature, the paper also provides an implementation guide for BSC in an Iranian perspective. Eventually, the performance indicators for measurement purposes of the introduced case study are proposed. Keywords: Balanced Scorecard, BSC, Performance Assessment, Higher Education, Universities, Iran. Introduction In today’s world of global competition, providing quality service is a key for success, and many experts concur that the most powerful competitive trend currently shaping marketing and business strategy is service quality (Abdullah, 2006, p. 31). Institutes of higher...
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...|Course Syllabus School of Business ACC/544 Internal Control Systems | |Copyright © 2010, 2009, 2008 by University of Phoenix. All rights reserved. Course Description In this course, students gain a broad perspective of accounting and control that considers attainment of all goals of the organization, including those concerned with financial objectives. Topics include an overview of control, risk management, internal control systems, controls for current asset functions, controls for other accounting classifications, controls for information technology systems, and reporting on controls. Policies Students will be held responsible for understanding and adhering to all policies contained within the following two documents: • University policies: You must be logged into the student website to view this document. • Instructor policies: This document is posted in the Course Materials forum. University policies are subject to change. Be sure to read the policies at the beginning of each class. Policies may be slightly different depending on the modality in which you attend class. If you have recently changed modalities, read the policies governing your current class modality. Course Materials Louwers, T. J., Ramsay, R., Sinason, D., & Strawser, J. (2007). Auditing and assurance services: A look beneath the surface (2nd ed.). New York, NY: McGraw-Hill. McCarthy, M. P. & Flynn, T. P. (2004). Risk from the CEO and board perspective: What all managers need...
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...Queensland University of Technology Faculty of Business School of Accountancy AYB321 – Strategic Management Accounting Readings: o AYB321 Text, Chapter 6, to p202 (BSZ Chapter 14) o AYB321 Text, Chapter 7 (BSZ Chapter 15) o For reference: Lipe, M and Salterio, S. (2000). The balanced scorecard: Judgemental effects of common and unique performance measures The Accounting Review, 75 (3), 283-389. (on CMD) Overview: Lectures 6 & 7 explore the use of Kaplan and Norton’s Balanced Scorecard (BSC) as a strategic performance measurement and evaluation method. Lecture 6 introduces the BSC by providing the performance measurement context, defining financial and non-financial and lead and lag indicators, and providing an overview of the four perspectives of Kaplan and Norton’s Balanced Scorecard. Lecture 7 explores and demonstrates the process of BSC development via strategy maps and KPI selection, before discussing the key findings of BSC-related research. Lectures 6 & 7 are structured as follows: Lecture 6: 1. Introduction 2. What is the BSC? 3. The four perspectives Lecture 7: 4. Strategy maps 5. Creating a BSC 6. What does the research say? 1. Introduction a) Performance Measurement Performance measurement serves the following purposes: Evaluate performance, and provide rewards Communicate the strategy, plans Allow managers to track their own...
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...Summary of information on each course/module | |Name of Course/Module |Principles of Management Accounting I | | |Course Code |BAC1054 | | |Status of Subject |Foundation | | |MQF Level/Stage |Bachelor – MQF Level 6 | | |Note : | | | |Certificate – MQF Level 3 | | | |Diploma – MQF Level 4 | | | |Bachelor – MQF Level 6 | | | |Masters – MQF Level 7 | | | |Doctoral – MQF Level 8 | ...
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...LBS Textiles Case Study LBS Textile Overview: LBS Textiles is a firm that designs fabrics for wholesale markets in North-East America. The company has experienced a modest growth over the last three years. LBS Textiles operates on a 300 node network system running Windows and have 400 people working on them. The firm operates on its homegrown distribution and accounting system that runs on legacy systems. It is assumed LBS Textiles has proprietary fabric designs that are used by the weaving plants to create products, which attract all demographics in the Northeast America. Current Challenges in the market: The following challenges lurking round LBS Textiles manifest threat of existence. The price discounts offered by the weaving plants in China and other countries in the east, are attracting markets towards them causing shutdown of US weaving plants. This is affecting LBS Textiles because the market now tends to buy substitutes directly from the east and its clients are closing down their plants. LBS Textiles is confined to Northeast America and needs to expand to reach out for more weaving plants across the nation and around the globe. People in the company are still working on legacy systems and have no acquaintance with new technologies. Strategic planning: LBS Textiles’ strategy is to expand across the nation and also establish itself in the global market. The existing legacy systems hinder the ability to effectively communicate with all units and clients in...
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...Commerce 4AF3 Accounting Theory Winter 2014 Course Outline Accounting and Financial Management Services DeGroote School of Business McMaster University Course Objectives This course is designed to give an overview of topics relevant to current accounting theory, research, standard setting and practice through relevant readings and by detailed examination of various accounting models. Instructor and Contact Information Name: HT Hao E-mail: haohorn@mcmaster.ca Office: DSB323 Office Hours: Wednesday 11:30-12:20, Friday10:30-11:20 and by appointment. Tel: (905) 525-9140 Ext: 23984 Class Time and Location: C02 Friday 11:30-14:20 @BSB/138 C03 Wednesday 8:30-11:20 @KTH/B105 |Course Website: |http://avenue.mcmaster.ca/ | Course Elements |Credit Value: |3 |Leadership: |Yes |Global View: |Yes |IT Skill: |No | |Avenue: |Yes |Numeracy: |Yes |Written Skill: |Yes |Ethics: |Yes | |Participation: |Yes |Innovation: |Yes |Group Work: |Yes |Oral Skill: |Yes | |Evidence-Based: |Yes |Experiential: |No |Final Exam: |Yes |Guest Speaker: |No | | ...
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...0172-2534889 Email: uiams@pu.ac.in Website: uiams.puchd.ac.in SYLLABUS OF THE 1ST YEAR TRIMESTER – I CODE MBA-011 MBA-021 MBA-031 MBA-041 MBA-051 MBA-061a MBA-061b PAPER Principles and Practices of Management Quantitative Techniques for Managerial Decision Making. Managerial Economics Human Resource Management Accounting for Management Seminar on Executive Communication Workshop on Information Technology for Management CREDITS 4 4 4 4 4 2 2 MARKS 100 100 100 100 100 50 50 TRIMESTER – II CODE MBA-072 MBA-082 MBA-092 MBA-102 MBA-112a MBA-112b PAPER CREDITS Quantitative Methods and Operations Research 4 Economic Environment for Business 4 Production and Operations Management 4 Financial Management 4 Seminar on Negotiation Skills 2 Workshop on Management Information Systems 2 o Introduction to Retail Management (R. Mgt.)* 4 SECTORAL SUBJECT – 1 MARKS 100 100 100 100 50 50 100 o Principles of Banking and Insurance (B & I)* o Introduction to IT and Telecommunications (IT & Tel)* o Introduction to Infrastructure (Infra. Mgt.)* o Industrial Pharmacy and Pharmaceutical Technology (Pharma. Mgt.)* o Hospital Planning and Organization (Hosp. Mgt.)* MBA-122 *R. Mgt= Retail Management; B&I= Banking & Insurance; IT & Tel.= IT & Telecommunication; Infra. Mgt.=Infrastructural Management; Pharma. Mgt.=Pharmaceutical Management; Hosp. Mgt.=Hospital Management. TRIMESTER – III CODE MBA-133 MBA-143 MBA-153 MBA-163a MBA-163b PAPER Legal Aspects of Business Marketing Management...
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...production, marketing, finance and accounting, human resource management, and various support functions). Offers an overview of business organizations and the business environment, strategic planning, international business, and quality assurance. INSTRUCTIONAL MATERIALS Required Resources Kelly, M., McGowen, J., & Williams, C. (2014). BUSN (6th ed.). Mason, OH: South-Western Cengage Learning. (Note: This is a textbook uniquely created for Strayer and can only be purchased via Strayer’s Virtual Bookstore, available through iCampus. The chapters within this custom textbook are the same as those from the national title, only rearranged in a different order.) Note: There are slides, audio chapter summaries, flashcards, workplace videos, and games located in the course shell to be used as additional resources to assist you in understanding the course material. Supplemental Resources Asare, S. K., & Wright, A. M. (2012). Investors’, auditors’, and lenders’ understanding of the message conveyed by the standard audit report on financial statements. Accounting Horizon, 26(2), 193-217. Aytaç, G., & Turan, O. Z. (2012). Issues of business ethics in domestic and international businesses: A critical study. International Journal of Business Administration, 3(5), 82-88. Bulu, I., Radojicic, M., & Nesic, Z. (2012). Some considerations on modern aspects of marketing promotion. Technics Technologies Education Management, 7(4), 1741-1750. Franks, R. A., & Spalding, A. D. (2013). Business ethics as an...
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...Financial Statement Analysis Session #1: Fundamental Analysis and Valuation March 2015 In-Mu Haw (许 仁茂) 1 Create value through acquisition to build brands (over 100) 2 Lenovo vs. HP Stock Price Lenovo created value through acquisitions Poor acquisition (overpaid: $8.8B) $18 million in 2013 3 Deloitte Report Chet Wood, Managing Partner of Deloitte LLP, Merger & Acquisition Services: • • About 70 percent of all health plan M&As fail to create meaningful shareholder value. CFOs and management can take a stronger role in M&A deal evaluation, especially on revenue growth. 4 Use of Financial Statements for Valuation “I am considering to buy a small packing company. They offered me RMB 15 million and gave me their last 2 years’ Income Statements and Balance Sheets. I think it’s overpriced. How much do you think I should pay?” How will you use I/S and B/S to assess the target firm’s fair value? 5 Warren Buffet Emphasized importance of looking at a firm’s Competitive advantage of products Long-term growth potential… for good investment 6 Sound Fundamental Analysis One does not buy a stock, one buys a business. When buying a business, know the business. Good firms can be bad buys (if overpriced). Price is what you pay, value is what you get. Value of firm = Value of Debt + Value of Equity TA = L + SE (BV) on B/S 7 TA – L = SE SE (BV) vs. Market value of equity 8 Stock Price What is intrinsic value? Is the price overvalued? P/E=41: What earnings growth...
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...Training and Development on Employee Effectiveness in Nigerian Banks Khadijat Adenola Yahaya (Mrs. ) Department of Accounting and Finance, University of Ilorin Abstract The success of any organization depends on the ability of its human resource to utilize other resources such as capital, equipment and land for the achievement of organizational objectives. Human resource thus requires the necess ary attention in order t o achieve corporate objectives. This paper investigates the impact of investment in h uman resource training and development on employees' e ffectiveness in N igerian banks. Descriptive survey research was adopted for the study. A quantitative measure published by the Institute of Intellectual Capital Research and approved by the Saratoga Institute database was used (o assess human resource effectiveness in three randomly s elected banks. Also, an instrument titled Assessment of Trai ning and Development Activities Scale (ATDAS) was administered to one hundred and twenty -five randomly selected employees of the selected banks in Ilorin metropolis, Kwara State, Nigeria. Relevant data was obtained from the three selected banks ' audited f inancial accounts for a period of five years (2001 -2005). The collected data was analyzed using descriptive a nd inferential statistics. The results showed that Zenith Bank had the best Human R esource M anagement and A ccounting practice p erformed best . T he study also i dentified the main training and development...
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...Accounting, Organizations and Society 28 (2003) 127–168 www.elsevier.com/locate/aos Management control systems design within its organizational context: findings from contingency-based research and directions for the future Robert H. Chenhall Department of Accounting and Finance, Monash University, Clayton, Victoria 3168, Australia Abstract Contingency-based research has a long tradition in the study of management control systems (MCS). Researchers have attempted to explain the effectiveness of MCS by examining designs that best suit the nature of the environment, technology, size, structure, strategy and national culture. In recent years, contingency-based research has maintained its popularity with studies including these variables but redefining them in contemporary terms. This paper provides a critical review of findings from contingency-based studies over the past 20 years, deriving a series of propositions relating MCS to organizational context. The paper examines issues related to the purpose of MCS, the elements of MCS, the meaning and measurement of contextual variables, and issues concerning theory development. A final section considers the possibility that contingency-based ideas could encompass insights from a variety of theories to help understand MCS within its organizational context. # 2002 Elsevier Science Ltd. All rights reserved. 1. Introduction The three purposes of this paper are to provide a review of empirical, contingency-based research as it has developed...
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...Second Year - Third Semester 3.0.1 International Business - University Assessment 100 Marks Course Content 1. Overview of the International Business Process 2. PEST factors affecting International Business 3. Government influence on trade 4. International Trade Theories 5. FDI 6. Country Evaluation and Selection 7. Collaborative Strategies 8. International Marketing 9. International Trade Agreements 10. International Trade Organizations 11. Forex 12. International HR Strategies 13. International Diplomacy Reference Text 1. International Business – Daniels and Radebough 2. International Business – Sundaram and Black 3. International Business – Roebuck and Simon 4. International Business – Charles Hill 5. International Business – Subba Rao 3.0.2 Strategic management 100 Marks Course Content 1. Strategic Management Process: Vision, Mission, Goal, Philosophy, Policies of an Organization. 2. Strategy, Strategy as planned action, Its importance, Process and advantages of planning Strategic v/s Operational Planning. 3. Decision making and problem solving, Categories of problems, Problem solving skill, Group decision making, Phases indecision making. 4. Communication, Commitment and performance, Role of the leader, Manager v/s Leader, Leadership styles. 5. Conventional Strategic Management v/s Unconventional Strategic Management, The differences, Changed Circumstance 6. Growth Accelerators: Business Web, Market Power, Learning based. 7. Management Control, Elements,...
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