...issues and has made recommendations for each of these areas below. The issues discovered and discussed are strategic planning, organization, finance, project management, a project team, and project resource allocation and are presented in the information below with recommended resolutions. Week 1 Issues Issue #1 The first issue identified by Strategy One is in the area of strategic planning. CanGo has been a successful company to date by being a trail blazer and leader in the online retail resource vertical. In order for CanGo to continue its success, remain a leader and expand its offerings, strategic planning must be implemented in the management of the company. “The strategic management process is made up of four elements: situation analysis, strategy formulation, strategy implementation, and strategy evaluation. These elements are steps that are performed, in order, when developing a new strategic management plan. Existing businesses that have already developed a strategic management plan will revisit these steps as the need arises, in order to make necessary changes and improvements.” (Bushman, 2007) There is an admitted lack of planning in the current organization. By documenting the trending in what has been successful; CanGo will be able to remain an industry leader as long as this planning is a priority in deciding the future vision of CanGo. Issue #2 The second issue identified by Strategy One is in the area of organizational planning and goals. CanGo’s...
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...and where the company would like to go in the future. As the owner/operator of CanGo, Elizabeth never developed a formal business plan for the business from the beginning and therefore had no documented blueprint for the business to speak of. Perfect starting issue! Recommendation: A business plan is a written document that demonstrates persuasively that enough products or services can be sold at a profit for your firm to become a viable business. The three primary reasons for writing business plans are (1) to aid you in determining the feasibility of your business idea, (2) to attract capital for starting up, and (3) to provide direction for your business after it is in operation. CanGo needs a written that will help find omissions and flaws in their ideas by allowing other people to critically review and analyze the plan. A business plan tells you what your business objectives are; when, where, why, and how your business will accomplish its objectives; and who will be involved in running the business. This planning process will help define CanGo’s short term goals and help determine the actions that need to be taken to accomplish them and then gather and commit the necessary resources (Hatten, 2008). The mission statement needs to be in place so that CanGo is able to describe the overall purpose of the business. A vision statement would be helpful to CanGo so that they are able to give a clear description of the company to staff, consumers and shareholders. You clearly understand...
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...Recommendations For our recommendations we first and foremost wanted to start strictly within the company. Organization is one of the most important aspects of any business and will contribute to continual success. Our first recommendation Is to implementation if a mission statement. A mission statement is a shared vision of what your company is all about and is important not only to let your customers or potential customers know what you stand for, but also to keep the company on track so that you will continue to give the best quality in service. Our second recommendation ties in very closely with the first and that is to create an employee handbook, which should include sections regarding your company’s code of ethics, performance review standards, and also outlines management structure. Creating and maintain an employee handbook is one of the most important communication skills between your company and your employees. Not only will this set forth your expectations for your employees, but it also helps them understand what they can expect from the company. Our next recommendation would be to conduct scheduled meetings to review, adjust, or create new goals and directives for the company. Getting together as a team and making sure everyone is on the same page plays a very large roll in the organization of a company. This will also open up the lines of communication which will ensure the jobs that are set forth are being performed with the highest level of quality. To...
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...9 Formal Reports and Proposals he distinctions between formal and informal reports are often blurred. Nevertheless, a formal report is usually written to someone in another company or organization. Occasionally it is written for a senior manager in the same company, or for someone with whom the writer has little regular contact. Usually it is longer than an informal report and requires more extensive research. Unless you are a consultant, you are unlikely to be asked to write a formal report often. When you are, there may be a lot riding on it— including your reputation. The purpose of this chapter is to show you how to write a formal report and how to put together the kind of proposal that often precedes it. As Figure 9-1 shows, many of the elements of formal reports are the same as those for informal ones.You need to pay the same attention to headings, lists, and illustrations, for example. Although much of the advice in the previous chapter could be duplicated in this one, the emphasis here will be on those areas where there’s a difference. T Figure 9-1 Contrasting Features of Informal and Formal Reports Informal Formal Reader often internal often external or distant within organization Length • usually short • several sections • usually long (3 pages or more) • sections and subsections Tone • personal • contractions • more impersonal • no contractions Summary integrated on separate page Introduction ...
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...Implementation of a Company Blog Sherry Hays Westwood College BUS 500 July 21, 2014 Table of Contents Abstract---------------------------------------------------------------------------------------- 3 Executive Summary-------------------------------------------------------------------------- 4 Benefits of a Blog----------------------------------------------------------------------------- 5 Statistics---------------------------------------------------------------------------------------- 6 Downside of Blogging------------------------------------------------------------------------ 7 Cost of a Blog---------------------------------------------------------------------------------- 7 Recommendations----------------------------------------------------------------------------- 8 References-------------------------------------------------------------------------------------- 9 Abstract A business blog can be a good recruiting tool for a business. There are countless companies that have a blog and are benefiting very nicely. Blogging...
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...the first few years. When Elizabeth moved her business into a larger building, she did not consider decreases in future profits and customers. When business started out to be slow and then increased slowly, Elizabeth should have taken that as a sign not to be too aggressive in her approach to obtain more space. It would have been a different situation if business would have increased consistently from the time it became known. The expansion to the storage area in the initial location of Biddy’s was a smart decision. It allowed there to be extra space while not taking too much of a risk. “Capacity planning is the process of projecting future capacity needs based on current company use and industry trends. For example, the gradual increase of a production workforce in response to an increase in product demand is capacity planning. A company invests significant resources into capacity planning, including the purchase of new equipment and the leasing of new facilities. Understanding the advantages of capacity planning can help justify the costs” (Anderson). The following are elements that Elizabeth should have considered when evaluating capacity needs before moving into the larger facility: Monitor Costs If Elizabeth would have taken into account facilities, personnel, supplies, and production schedules. Periods of growth and recession can be monitored when the capacity level is carefully planned. The company can budget for future changes during this monitoring...
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...equity financing for most small business, as these businesses will not have the required growth potential Venture Capitals need to manage their risk return requirements. Explain the process of financial planning used to estimate asset investment requirements for a corporation. Explain the concept of working capital management. Identify and briefly describe several financial instruments that are used as marketable securities to park excess cash. The financial planning process has eight specific steps. The financial planning process is the firms attempt to forecast the future, both the long and short-term future for sales, expense and etc. Using eight domains better captures the sophisticated nature of planning. Here are the eight steps in the Financial Planning Process: 1. Establish and Defining the Client-Planner Relationship. 2. Gathering Information Necessary to Fulfill the Engagement. 3. Analyzing and Evaluating the Client’s Current Financial Status. 4. Developing the Recommendations. 5. Communicating the Recommendations. 6. Implementing the Recommendations. 7. Monitoring the Recommendations. 8. Practicing within Professional and Regulatory Standards. The concept of working capital management is to ensure a company has sufficient cash flow in order to meet its short-term debt obligations and operating expenses. The...
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...and Recommendations….………………………………………………Page 3 References……………………………………………………………………...Page 11 Appenix A………………………………………………………………………Page 12 Appendix B……………………………………………………………………..Page 12 CanGo Analysis Introduction CanGo is a cutting edge company that was founded in 2006 by Elizabeth. CanGo is an online company that offers a variety of products ranging from books and videos to online gaming. CanGo is known for having the best service in terms of product and support. Although CanGo is a break-out company, there are some issues that have been identified when it comes to the company having a complete vision for what the company wants to accomplish as well as where the company sees itself in the future. During the course of six weeks, there have been many issues identified regarding the structure and function of the company. Along with these issues that have been identified and the recommendations that were made, if CanGo puts these ideas into practice, this company can go above and beyond original company and market expectations. Issues and Recommendations The first issue was brought to our attention was the fact that the organization had no vision for the future. Due to the fact that there was no initial vision for CanGo, the company likely missed out on a lot of opportunities over the years. Any opportunity can be an opportunity for growth and achievement within a company and by having no vision in the initial stages; there have been likely instances where the company missed...
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...business and everyone should be included. According to Popescu, in the International Conference on Management and Industrial Engineering “The process of strategic management consists of an ongoing analysis, decisions, and actions activities to create and sustain competitive advantages in order to obtain desired competitive position and achieve strategic objectives”(Popescu,2013). This process is not one simple step and can be complex. It is not a onetime occurrence and can happen multiple times. The ongoing analysis, decisions, and actions that are performed should include all people involved. Everyone should be on the same page throughout the strategic management process. Goal Setting It is important for any business to set goals. Goals give businesses a purpose. It helps to organize the direction in which a business should take. Businesses should always have goals and let the goals be clear. Goals should be clear to both managers and employees. Short term and long term goals should be established. These goals should be evaluated throughout the strategic management process. According to Campbell, author of Strategic Management Motivates People to Help Meet Goals” New goals need to be identified and previous goals modified. Contingency plans should be identified with their relative costs and benefits” (Campbell, 1985). It is vital that new goals are...
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...DISCLAIMER 3 ACKNOWLEDGEMENTS 4 EXECUTIVE SUMMARY 5 INTRODUCTION 7 COMPANY OVERVIEW 7 INDUSTRY OVERVIEW 8 External Environment 8 Key External Drivers 9 METHODOLOGY 10 SCOPE 11 FINDINGS AND RECOMMENDATIONS 12 GOVERNMENT CONTRACTS 12 OEM CONTRACTS 14 ACCOUNTING METHODS 16 ORGANIZATIONAL STRUCTURE & PLANNING 19 ONLINE PRESENCE & BRAND AWARENESS 23 Social Networking 24 MARKETING PLAN 27 Competitive Analysis 27 4 P’s Analysis 28 Industry Segments 28 CITATIONS 32 APPENDIX 33 To-Do List 33 Manufacturing Metrics 34 PRO FORMA INCOME STATEMENTS 35 ------------------------------------------------- DISCLAIMER This material is based upon work supported by Washington State University. Any opinions, findings, conclusions, or recommendations are those of the authors and do not reflect the views of Washington State University, its employees or its administration. ------------------------------------------------- ACKNOWLEDGEMENTS Our team would like to acknowledge and extend our heartfelt gratitude to the following persons who have made this report’s completion a possibility. We would first like to thank our team mentor and advisor Albert Christensen and Kristin McMahon, who provided our team with much needed support and assistance in reviewing our papers. We would also like to thank our professor Mr. Pickett for his encouragement and guidance throughout the report. Lastly we would like to thank Charlene O’Day and all of her staff. They were so helpful...
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...approach Getting started Before you begin Module 1, please read the Introduction to PA1 for important information on how to study this course and complete the competency-based assignments. For an overview of your assignment responsibilities in this course, check the course schedule in the navigation pane. Online discussion instructions that outline the steps for starting work with your discussion group are provided in the Module 2 assignment. Module 1 assignment is an individual submission of multiple-choice and case questions. You will notice that the self-test and demonstration case solutions provided in this module and other modules attempt to cover all possible solutions and to provide an example of an “exceeds” solution. They may, therefore, be longer than would be required in an examination situation. You may wish to use the Competency Area Checklist to help you sort through the case data. Once you have determined which competency areas are relevant, consider the specific issues that need to be addressed. At times, the course materials use generic dates rather than real dates. When you come across instances of generic dates, consider the date to correspond with standards that are currently in effect. Overview In keeping with your role as an accountant, your ability to communicate effectively is a professional quality and skill that you are expected to demonstrate in all of your assignments, whether for study or for work. You will also be expected to demonstrate...
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...How to Analyze a Case An Introduction to the Case Method For many of you, this will be the first course using cases that you have ever taken. The fact that this form of learning is new to you will naturally cause you some concern, and early on, some difficulty. Cases give you the chance to look at the present situation facing an organization, and after a systematic analysis, make recommendations that will produce a change in the results or outcomes. While you cannot be certain what that outcome will be, through the discussion and critique of your suggestions by fellow students and your professor, projections can be made about the foundation for the probable success of your recommendations. In this course you will have the opportunity to see how well you can assess and address a business issue or problem. The role of the case is to provide you with the opportunity to utilize the knowledge you have gained to this point to evaluate and make recommendations to enhance the performance of real organizations. This is not a substitute for real world experience in a job with an organization, but it is the type of learning that helps prepare you to begin using the business knowledge you have acquired. Analysis Frameworks There are several benefits in having a framework to use for analyzing situations. The first is that a framework provides comprehensive coverage of the topics and issues involved. Without a framework, the analyst may overlook some issues. For example...
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... We would like to thank you for allowing us the opportunity to work with Chern’s in implementing Human Resources consulting services to assist you in your staffing strategies. We have carefully compiled the following recommendations after completing a careful examination and analysis of all aspects of Chern’s policies, practices and organizational culture. We hope that these recommendations will allow your company to grow and prosper in the years to come and allow you to gain a competitive advantage over the competition. Through our observation of Chern’s policies, practices, and organizational culture, we have determined an abundance of Human Resource practices that your company is implementing. These practices are gaining you a competitive advantage in the industry and are aligning with your business strategy, missions and goals very well. To further support, your future goals at Chern’s, we would highly recommend that you continue to use these practices: How you have managed your talent has created one of the most enduring competitive advantages you can have within the industry. Continuing to view your employees as the core drivers of the company’s performance is excellent. Offering a tier support system for all employees show them that you support them and feel that they are valued within the company. This will assist you in the retention of excellent employees. You have created a strong practice in how you develop and retain your employees. I would continue...
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...Student No : 7303210059086 Juanita J v Vuuren Blue Spider Project M1 MODULE PARKS CORPORATION THE BLUE SPIDER PROJECT Individual Assignment Juanita J van Vuuren (7303210059086) DECLARATION OF COPYRIGHT “I, the undersigned, hereby declare this assignment to be my own work. It has not been previously submitted for any other examination.” Name & Surname Juanita Janse van Vuuren ID 7303210059086 Signature 2 Index 1. GLOSSARY TABLE………………………………………………………………………….….5 2. EXECUTIVE SUMMARY..………………………………………………………………….…….6 3. INTRODUCTION...………………………………………………………………………….…….7 4.1 QUESTION 1……………………………………………………………………………………..8 4.3 QUESTION 2…………………………………………………………………………………….18 5. BIBLIOGRAPY……………….………………………………………………………………….32 6. APPENDIX…………………………………………………………………………………………33 3 REPORT 1. Question 1: With reference to the case, discuss the problems and their underlying causes. 2. Question 2: Recommend what should be done to solve the problems, prioritizing the steps to be taken approach. Be systematic and motivate your assertions. into your 4 1. GLOSSARY TABLE HR Lord Industries Human Resource Department Prime contractor for the Army’s Spartan Program Client Parks Corporation Henry Gable Gary Anderson Dearth Sub contractor for Lord Industries Engineering Director Project Manager an inadequate supply; scarcity; lack: There is a dearth of good engineers. 5 2. EXEUTIVE SUMMARY In analysing the case and identifying the problems and their underlying causes, it became clear that...
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...operational objectives for the management of products and services for the salon at Tameside College. ……………………………………….. "Strategic planning" lombriser and abplanalp (2005) state "as a major reason that the terminology to describe strategic planning is inconsistent, often using different terms and definitions like: long term planning, strategic planning, financial planning and strategic management". Due to those differences a variety of expectations, related to process, tasks, responsibilities and results can be found in organizational practice. It is important to plan operational objectives to manage products and services to ensure the salon runs effectively. Products need to be selected carefully to ensure they meet the clients needs and treatments need to be offered to the client the meet customer demands, so it is important that this is managed properly and reviewed. When developing new services and products it is important that research is carried out and objectives are set to make sure it fits the purpose…… medcalif 2009 states it is estimated that one in three new businesses fails in its first year, mainly due to lack of proper planning. Before you do anything, you must decide why you want to have your own salon and what you hope to achieve from having and running it. Then you must create a plan of how you are going to achieve this. My plan for the salon at Tameside College is to review and improve the appointment system the whole reception area...
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