...CHALLENGES IN GROWING COMPLEX E NVIRONMENT DISSERTATION Roszak Sabrina Msc BC & IS Management 1 MSC IS&BCFinancial SYSTEMS FUTURE Challenges in growing complex environment DISS Acknowledgements It is not an easy task going back to school after seven years of work experience. And it is much harder going back to school being a young mum. For this reason, my deepest gratitude goes to my family who has always supported me and helped me in this initiative. Especially, I would like to thank my parents who always believed in me, my husband who encourages me and over all, my son, whose love gave me all necessary energy and strength. I would also like take the opportunity to thank all the teachers from the MSc, especially Ms. Hirzmann who encourages me in my professional choices and future carrier and my professor Mr. Parmantier who helped me complete this dissertation. F inally, I would like to express my gratitude to Mrs. Jalabert, SBM MONACO Finance Director for her time spent answering my questionnaire. 2 MSC IS&BCFinancial SYSTEMS FUTURE Challenges in growing complex environment DISS Glossary BI: Business Intelligence BSC: Balanced Scorecard CFO: Chief Financial Officer CPI: Cost Performance Indicator CPM: Corporate Performance Management CR: Corporate Reporting CRM: Customer Relationship Management EPM: Enterprise Performance Management ERP: Enterprise Resource Planning FASB: Financial Accounting Standard Boards ...
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...I. Current Situation a. Current Performance i. How did the corporation perform the past year overall in terms of ROI, market share, and profitability? b. Strategic Posture What are the corporation’s current mission, objectives, strategies and policies? i. Are they clearly stated, or are they merely implied from performance? ii. Mission: What business is the corporation in? Why? iii. Objectives: What are the corporate, business, and functional objectives? Are they consistent with each other, with the mission, and with the internal and external environment? iv. Strategies: What strategy or mix of strategies is the corporation following? Are they consistent with each other, with the mission and objectives, and with the internal and external environments? v. Policies: What are the corporation’s policies? Are they consistent with each other, with the mission, objectives, and strategies, and with the internal and external environment? vi. Do the current mission, objectives, strategies, and policies reflect the corporation’s international operations, whether global or multi-domestic? II. Corporate Governance a. Board of Directors i. Who is on the board? Are they internal or external members? ii. Do they own significant of stock? iii. Is the stock privately held or publicly traded? Are there different classes of stock with different voting rights? iv. What do the board members contribute to the corporation in terms of knowledge, skills background, and connections?...
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...Chapter 1: A new framework for implementing corporate sustainability Key points: ▪ Sustainability performance is the effect of corporate activity on the social, environmental, and economic fabric of society. ▪ A balance between economic progress, social responsibility, and environmental protection, sometimes referred to as the triple bottom line, can lead to competitive advantage. ▪ The evaluation of social, economic, and environmental impacts of organizational actions is necessary to make effective operational and capital investment decisions that positively impact organizational objectives and satisfy the objectives of multiple stakeholders. ▪ The financial payoff of a proactive sustainability strategy can be substantial. ▪ To become a leader in sustainability, one needs to articulate what sustainability is, develop processes to promote sustainability throughout the corporation, measure performance on sustainability, and ultimately link this measurement to corporate financial performance. ▪ Corporate citizenship is an important driver for building trust, attracting and retaining employees, and obtaining a “license to operate” within a community. ▪ Corporate citizenship is much more than charitable donations and public relations—it’s the way the company integrates sustainability principles with everyday business operations and policies and then translates all of this into bottom-line results. ▪ For sustainability to be long lasting and useful...
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...Chapter 1: A new framework for implementing corporate sustainability Key points: ▪ Sustainability performance is the effect of corporate activity on the social, environmental, and economic fabric of society. ▪ A balance between economic progress, social responsibility, and environmental protection, sometimes referred to as the triple bottom line, can lead to competitive advantage. ▪ The evaluation of social, economic, and environmental impacts of organizational actions is necessary to make effective operational and capital investment decisions that positively impact organizational objectives and satisfy the objectives of multiple stakeholders. ▪ The financial payoff of a proactive sustainability strategy can be substantial. ▪ To become a leader in sustainability, one needs to articulate what sustainability is, develop processes to promote sustainability throughout the corporation, measure performance on sustainability, and ultimately link this measurement to corporate financial performance. ▪ Corporate citizenship is an important driver for building trust, attracting and retaining employees, and obtaining a “license to operate” within a community. ▪ Corporate citizenship is much more than charitable donations and public relations—it’s the way the company integrates sustainability principles with everyday business operations and policies and then translates all of this into bottom-line results. ▪ For sustainability to be long lasting and useful...
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...Corporate planning of commercial bank: Planning is a pre requisite of every management function . the performance of all other functions like planning, organizing , staffing, directing & controlling is preceded by performance of planning function. So corporate planning is the primary function of any corporate management . it is combination of the activities in the management process which consist of formulation of the objectives & the action to be taken for their achievement. Corporate planning is a bridge between the present & future of the bank . it also provides the framework for decision making . According to koontz & weihrich : Corporate planning involves selecting mission & objectives & the action to achieve them ; it requires decision making ,that is choosing from the alternative future course of the action . Nature of the corporate planning : The essential nature of corporate planning can be high lighted by examining the four major aspects : 1) Its contribution to the purpose & objectives. 2) Its primacy among the manager tasks . 3) Its prevasiveness . 4) The efficiency of resulting plans . Every corporate plan must contribute to the achievements of bank objectives. Importance of corporate planning by commercial bank : 1) To face the challenge of market environment : The commercial bank have to function in changing market environment . there is change in technology , income levels, policies of domestic...
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...AFT3073 – RESEARCH METHODOLOGY |GROUP ASSIGNMENT (25%) – RESEARCH TERM PAPER TOPICS | |Current Strategic Management Issues | |This course assignment is a term paper on current strategic management issues. Possible themes/issues for your research term paper | |include (but are not limited to) the following: | |Ethics and Corporate Citizenship Themes | |Understandings of corporate citizenship | |Links between ethics and corporate citizenship | |Performance measurement | |Accountability and governance | |Stakeholder engagement, consultation, reporting and governance | |Corporations, territory and governance ...
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...INTRODUCTION Corporate Governance / PUNB 413 students are required to prepare an individual assignment which is includes preparing summary of at least two articles that related to ISSUES IN CORPORATE GOVERNANCE focusing on Directors Remuneration and CEO Compensation. The article that I selected is mainly focus on Directors Remuneration, Corporate Performance, Board Characteristics and factors that influence in determining the Directors Remuneration and CEO compensation. This assignment plays a vital role in developing our understanding and providing a clear picture on Corporate Governance in real world’s perspective. ARTICLE 1: Board Compensation Structure and Firm Performance Ivan E. Brick, Oded Palmon, and John K. Wald January 15, 2003 SUMMARY: The article is mainly focused on the factors that influence Director’s compensation structure. The factors that influences the determination of the Director’s compensation structure are firms, CEO and governance structure characteristics. In addition, the article also identifying the significant relationship between the Directors’s compensation and firm performance and the consistency of the structure on firm value maximization. The impact of the compensation structure towards firm performance is mainly in changes in Q, ROA performance, future ROA and pay performance sensitivity. PROBLEM STATEMENT: Firm Performance Director’s Compensation Structure ...
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...'Club of Economics in Miskolc' TMP Vol. 8., Nr. 2., pp. 23-30. 2012. Green Accounting for Corporate Sustainability BETTINA HÓDI HERNÁDI ASSISTANT LECTURER e-mail: vgtbetti@uni-miskolc.hu SUMMARY Today, corporate sustainability is one of the greatest challenges facing companies. Therefore, this study aims to show how accounting, as the language of business and the source of information, can meet the criteria of sustainability. This article starts out by analysing the different approaches to corporate sustainability, then it proposes the reinterpretation of the most important accounting principle, the ‘going concern’ principle. In the following section it outlines the characteristics of accounting from the point of view of sustainability. Finally, it proposes ways of transforming green accounting, both in name and content, into sustainability accounting. Keywords: corporate sustainability; the ‘going concern’ principle; green accounting (environmental accounting); sustainability accounting Journal of Economic Literature (JEL) code: M41 INTRODUCTION According to the Brundtland Commission (1987, p. 43), “Sustainable development is development that meets the needs of present generations without compromising the similar needs of future generations. The concept interprets sustainable economic, ecological and social development as a unity.” Today’s companies must also comply with the challenges stemming from this approach, and therefore they must also implement economic,...
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...Essentials of Strategic Management Authors: David Hunger & Thomas. L. Wheelen Book Review by Asik Kathwala © www.hrfolks.com All Rights Reserved 1 The Essentials of Strategic Management “The Essentials of Strategic Management” provides us with a short, concise explanation of the most important concepts and techniques in strategic management. It is a rigorous explanation of many topics and concerns in strategic management. These concepts are clearly explained by citing various examples. Precisely the book deals with the following. • A strategic decision-making model based on the underlying process of environmental scanning, strategy formation, strategy implementation and evaluation and control. • Michael Porter’s approach to industry analysis and competitive strategy • Functional analysis and functional strategies. R & D and R & D strategies which emphasize the importance of technology to strategy and product-market decisions. • Executive leadership and succession, reengineering, total quality management, MBO and action planning. • Social responsibility in terms of its importance to strategic decision making. © www.hrfolks.com All Rights Reserved 2 Basics concepts of strategic management The study of strategic management Strategic management is the set of managerial decision and action that determines the long-run performance of a corporation. It includes environmental scanning (both external and internal), strategy formulation (strategic or long range planning)...
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...Audit Committee, Board Characteristics and Earnings Management by Commercial Banks Jian Zhou Assistant Professor of Accounting School of Management SUNY at Binghamton PO Box 6000 Binghamton, NY 13902-6000 USA Email: jzhou@binghamton Audit committees being occupied by majority of outside members have no influence on the firm’s performance. This is because this study shows that the relationship between the audit committee and the two performance measures is not statistically significant.This result is not consistent with some previous studies such as Klein (2002) and Mansi and Reeb (2004), where they reported strong positive relationship between audit committee and the performance variables they used in their studies ← Audit committees being occupied by majority of outside members have no influence on the ← firm’s performance. This is because this study shows that the relationship between the audit committee ← and the two performance measures is not statistically significant.This result is not consistent with ← some previous studies such as Klein (2002) and Mansi and Reeb (2004), where they reported strong ← positive relationship between audit committee and the performance variables they used in their studies Corporate Governance and Firm Performance: The Case of Nigerian Listed Firms Kajola, Sunday O Department of Accounting, Olabisi Onabanjo University Ago-Iwoye, Nigeria Tel : 234-8033519371 E-mail:...
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...Society for Human Resources Management Society for Human Resources Management Human resources disciplines Paper #1 May 26, 2015 Human resources Management (HRM) is the process of developing, training, compensating people, developing strategies and policies related to them. It is a multidisciplinary organizational function that draws theories and ideas from various fields such as management, psychology, sociology and economics. It can be simply defined as the convergence of human beings, resources and management, where human beings have the actual and potential resources (knowledge, skills and capabilities) that can be harnessed through effective management techniques to achieve short- and long-term organizational goals as well as personal needs. The Society for Human Resource Management (SHRM), the world’s largest HR membership organization devoted to human resource management, and the leading provider of resources to serve the needs of HR professionals and advance the professional practice of human resource management lists several disciplines that can be practiced by HR Managers. Let’s have a deeper look at Organizational and employee development and ethics and corporate Social responsibility. Organizational and Employee Development deals with organizational performance and the means by which it develops its human resources. Resources address improving organizational effectiveness and training employees to meet current and future job demands. It allows...
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...Role of HR in driving Corporate Sustainability measures Executive Summary After the Brundtland report in 1987, special emphasis has been given towards sustainable development and its interrelationship between firm productivity, societal equity and environment quality. Proactive organizations are accountable for facilitating, demonstrating and promoting corporate social responsibility. Companies have to rethink their strategy from being profit driven to corporate citizenship. There has been immense pressure from government, customer, employees and competitors to think towards environmental management. HR can play a critical role in this regard by acting as a medium to communicate and educate firms about the importance of CSR. At the same time HR can integrate business goals and CSR goals by implementing HR practices. Introduction Since rapid industrialisation, natural resources are getting depleted at a fast pace. There is a need to conserve and judiciously use natural resources so that there is no burden on our future generation. Corporate sustainability was once seen as a philanthropic activity but now it is getting its due importance in leading companies. Companies have gone to the extent of proactive environmental management which encourages corporations to prevent pollution at the source rather than at the end of pipeline (Annexure 01). Cutting edge firms are going beyond pollution prevention and exploring new opportunities for developing eco-friendly products, processes and...
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...Journal of Management http://jom.sagepub.com/ What We Know and Don't Know About Corporate Social Responsibility: A Review and Research Agenda Herman Aguinis and Ante Glavas Journal of Management 2012 38: 932 originally published online 1 March 2012 DOI: 10.1177/0149206311436079 The online version of this article can be found at: http://jom.sagepub.com/content/38/4/932 Published by: http://www.sagepublications.com On behalf of: Southern Management Association Additional services and information for Journal of Management can be found at: Email Alerts: http://jom.sagepub.com/cgi/alerts Subscriptions: http://jom.sagepub.com/subscriptions Reprints: http://www.sagepub.com/journalsReprints.nav Permissions: http://www.sagepub.com/journalsPermissions.nav >> Version of Record - May 29, 2012 OnlineFirst Version of Record - Mar 1, 2012 What is This? Downloaded from jom.sagepub.com at Sunway Education Group on April 23, 2014 Journal of Management Vol. 38 No. 4, July 2012 932-968 DOI: 10.1177/0149206311436079 © The Author(s) 2012 Reprints and permission: http://www. sagepub.com/journalsPermissions.nav What We Know and Don’t Know About Corporate Social Responsibility: A Review and Research Agenda Herman Aguinis Indiana University Ante Glavas University of Notre Dame The authors review the corporate social responsibility (CSR) literature based on 588 journal articles and 102 books and book chapters. They offer a multilevel and multidisciplinary theoretical framework...
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...Emerging Issues in Human Resource Management Organizational growth and excellence is driven by strategic and effective human resource management (HRM). The start of the global economy has brought awareness that the only permanent competitive advantage is an organization’s ability to effectively exploit human resources. HRM has become a significant factor in the management for organizational success. While there are many emerging HRM issues, there is one particular area that I found to be most concerning. Thomas Singleton, the Human Resources Director at Lifespan Corporate Services assisted me by proclaiming that, “…as globalization and the information age continue to advance, organizations need to adapt to the changes in technology and the changing issues in management of people.” Furthermore, he stated that managing globalization is a critical issue for human resource managers. Due to globalization and expected changes in technological and the social environment it has become critical for human resource managers to effectively and efficiently handle the competitive environment that affects the performance of organization at domestic as well as global platforms. “Globalization represents the structural making of the world characterized by the free flow of technology and human resources across national boundaries as well as the spread of Information Technology and mass media presenting an ever-changing and competitive business environment” (Česynienė, 2008). ...
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...Strategic Management - An Introduction Strategic Management is all about identification and description of the strategies that managers can carry so as to achieve better performance and a competitive advantage for their organization. An organization is said to have competitive advantage if its profitability is higher than the average profitability for all companies in its industry. Strategic management can also be defined as a bundle of decisions and acts which a manager undertakes and which decides the result of the firm’s performance. The manager must have a thorough knowledge and analysis of the general and competitive organizational environment so as to take right decisions. They should conduct a SWOT Analysis (Strengths, Weaknesses, Opportunities, and Threats), i.e., they should make best possible utilization of strengths, minimize the organizational weaknesses, make use of arising opportunities from the business environment and shouldn’t ignore the threats. Strategic management is nothing but planning for both predictable as well as unfeasible | | |contingencies. It is applicable to both small as well as large organizations as even the smallest organization face competition and, by formulating| |and implementing appropriate strategies, they can attain sustainable competitive advantage. | Strategic Management is a way in which strategists set the objectives and proceed about attaining them. It deals with making...
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