...Introduction With the launch of the Sustainability Strategy in 2005, Walmart was able to generate cost savings and profits from different areas of its supply chain. Having faced challenges to convince all its stakeholders to participate in this strategy, there is long way from setting a firm foundation for their strategy supply chain wide and to reach a consensus with its stakeholders on the need to focus on sustainability. However, with 2006 coming to an end, Ruben and Elm are pressured to evaluate the performance of their sustainability strategy based on both business and sustainability factors, and to decide whether to continue or halt the programme. Analysis of sustainable strategy Being profit-driven, Walmart has to ensure that business value is derived from the sustainability strategy, in order to maintain its dominant retail position. One benefit was cost reduction throughout the value chain of its products. Waste was effectively eliminated and efficiency in production, packaging, transportation, store operations and customer use was realized. There was introduction of an additional revenue stream by selling the firm’s carbon credits through reduction in carbon emissions. Furthermore, it allowed Walmart to seek strategic level input from outside parties, creating collaboration with various companies to come out with new and innovative green products. Assurance of supply is also achieved, where Walmart was able to lock-in available supply or contribute to the preservation...
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...financial success but also in its obligations to the community. Wal-Mart participates in Community giving programs, in environmental sustainability programs and even, financially gives billions in the efforts in the fight against hunger by making food not only more affordable but also healthier. “Do the right thing. It will gratify some people and astonish the rest” -Mark Twain ("Walmart Statement Of Ethics", 2012). This is the quote that appears in Wal-Mart’s code of ethics when you get to their “financial integrity” section. In their code of conduct/ethics, Wal-Mart makes it very clear that they’re financial success is due in part to their upmost promise to abide by honest and accurate financial recording standards. The statement is directed to all associates (employees), directors and third parties such as suppliers, consultants, contractors, and other services providers that take part in the everyday business that is Wal-Mart. Alongside, Q&A examples for readers, Wal-Mart states that all transactions must confirm to generally accepted accounting principles (GAPP) and their own system of internal controls (SOX). They state that no document or record is to...
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...| Financial Terms and Roles | Individual Assignment | | FIN/370 | May 7, 2012 Kristopher Karazassis | | Financial Terms and Roles Finance is concerned with how individuals, such as managers, lenders, businesses, firms, investors, and borrowers allocate money over a specified period. This paper lists the definitions and roles of financial and accounting terms provided in the course design. The terminology that follows explains and interprets the concepts and elements relevant to the first week’s objectives and topics in Finance 370. Emphasis is placed on types of securities, markets, finance, equity, liability, ratios, and assets. Finance is the study of how people and businesses evaluate investments and raise capital to fund them. The key role of finance is the management of cash flow in deciding on investments, how to fund them, how to allocate money for day-to-day operations over time, and the interpretation of financial concepts, which is the central focus of finance. Efficient Market is a market price unbiased of the investments true mean value. The fact that...
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...and making adjustments to keep the company pressing towards its goals. * Making decisions: management is continually making decisions while it plans, directs, and controls operations. 2. Distinguish financial accounting from managerial accounting Managerial Accounting | Financial Accounting | Internal Users such as managers | External Users such as creditors, stockholders, and govt regulators | To help managers plan, direct and control business operations and make business decisions | To help external users make investing and lending decisions | Any internal accounting report deemed worthwhile by management | Financial Statements | Management determines what it wants in a report, and how it wants it formatted. Reports are prepared only when management believes the benefit of using the report exceeds the cost of preparing the report. | Generally accepted accounting principles (GAAP) determines the content and format of financial statements | While some info is based on past transactions, managerial accounting focuses on the future. It provides info on both external and internal transactions | The info is based on historical transactions with external parties | The data must be relevant | The data must be reliable and objective | Segments of the business, such as products, customers, geographical regions, depts., and divisions are the...
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...Effective recruitment and selection PEOPLE Introduction Asda is the UK’s second largest supermarket. It was founded in 1949 under the name of Associated Dairies and Farm Group but shortened this to Asda in 1965. It is a retailer focused on selling food, clothing, electronics, toys, home furnishings and general merchandise. Asda also offers a range of additional services such as ‘Asda Money’ financial services. In 1999 Asda became a subsidiary of Walmart, the largest supermarket chain in the world. This enabled Walmart to enter the UK market but also gave Asda access to the full range of expertise of the Walmart company. Walmart currently employs over 2 million colleagues worldwide in 27 countries. In the UK, Asda is one of the largest employers with over 175,000 colleagues working across its many formats. These include a variety of roles in its Superstores, Supermarkets, Home Office, Distribution, George and Asda Living. Asda continues to expand its operations in the UK and recently acquired a number of stores from Netto to increase the number of local Asda Supermarkets. Asda wants to be a trusted employer. Its success as a leading retailer is dependent on its trained and engaged colleagues providing excellent customer service. This case study demonstrates how Asda’s recruitment and selection processes, teamed with effective leadership and its colleague engagement strategies, are helping the company to achieve its mission. Asda’s philosophy is that if your people enjoy...
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...ADMN 404: STRATEGIC MANAGEMENT Assignment 1: Best Buy Brooke Martin Date: Executive Summary (5%) Best Buy is a multinational retailer of technology, electronic and entertainment products and services, with locations in the US, Canada, Mexico, China and Europe. Best Buy operates roughly 4,000 stores in Canada, US, Mexico, China and Turkey, and they represent about 19% of the market. Best Buy as a company has expanded from what was a small retail operation to include many subsidiaries including Geek Squad, Magnolia Audio Video, Pacific Sales and Future Shop. Best Buy needs to be aware of their competition not only in terms of other large retail electronic stores, but their competition now also includes such big box stores as Walmart and on-line retailers such as Amazon.com. Best Buy has a few major challenges that they must be aware of, and continue to improve upon. Firstly, with the downturn of the economy and the consumer cut backs on spending, they must deal with consumers spending less on the products that Best Buy offers. They must focus on differentiating themselves from both physical and online retailers. This is where their customer commitment is vital to their success. Secondly, Best Buy must continue to place a large focus on their customer service, and the knowledge of their staff. Even if customers aren’t buying new products, they continue to have previously purchased products that will need to be serviced. Best Buy needs to offer a unique “shopping...
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...ACC 700 Milestone two Newham Company Click Link Below To Buy: http://hwaid.com/shop/acc-700-milestone-two-newham-company/ The second milestone is a rough draft of the second artifact for your professional portfolio, a sample audit. The sample audit will consist of three main parts:the business risk analysis, the sample audit program, and the report of recommendations. Thiswill be graded using the rubric at the end of this document and is an opportunity for you to organize your thoughts and receive feedback from your instructor for the final submission. Note that the submission guidelines for this milestone are less demanding than those for the final submission. Once you have submitted this milestone and receivedfeedback from your instructor,it is up to you to incorporate this feedback and complete the artifact by meeting thesubmission requirements found in the Final Project Guidelines and Rubric document. Newham Company Information Newham Company is a publicly traded company operating in the “personal product” industry.Newhammanufactures cosmetic and body-care products.These products are sold to large department chain stores, such as Target and Walmart,to be sold and distributed to the final consumer. Competitors include Revlon, Inc.(REV –NYSE) and Avon Products, Inc.(AVP -NYSE). NewhamCompany has experienced steady growth over the past several years. Recently, there has been a change in executive management, includingthe CEO and CFO.The change was sparked by...
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...1. Introduction Asda is the UK’s second largest supermarket. It was founded in 1949 under the name of Associated Dairies and Farm Group but shortened this to Asda in 1965. It is a retailer focused on selling food, clothing, electronics, toys, home furnishings and general merchandise. Asda also offers a range of additional services such as ‘Asda Money’ financial services. In 1999 Asda became a subsidiary of Walmart, the largest supermarket chain in the world. This enabled Walmart to enter the UK market but also gave Asda access to the full range of expertise of the Walmart company. Walmart currently employs over 2 million colleagues worldwide in 27 countries. In the UK, Asda is one of the largest employers with over 175,000 colleagues working across its many formats. These include a variety of roles in its Superstores, Supermarkets, Home Office, Distribution, George and Asda Living. Asda continues to expand its operations in the UK and recently acquired a number of stores from Netto to increase the number of local Asda Supermarkets. Asda wants to be a trusted employer. Its success as a leading retailer is dependent on its trained and engaged colleagues providing excellent customer service. This case study demonstrates how Asda’s recruitment and selection processes, teamed with effective leadership and its colleague engagement strategies, are helping the company to achieve its mission. 1.2 Asda’s philosophy Asda’s philosophy is that if your people enjoy working with you...
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...This article is published in a peer-reviewed section of the Utrecht Law Review Four Case Studies on Corporate Social Responsibility: Do Conflicts Affect a Company’s Corporate Social Responsibility Policy? Cristina A. Cedillo Torres, Mercedes Garcia-French, Rosemarie Hordijk, Kim Nguyen, Lana Olup* 1. Introduction 1.1. Background and objectives This article will discuss the different Corporate Social Responsibility (CSR) issues that emerged within four multinationals (Apple, Canon, Coca-Cola and Walmart). There is no clear definition of CSR. In Corporate Social Responsibility, Legal and semi-legal frameworks supporting CSR Lambooy gives an r o verview of several definitions of CSR.1 The European Commission defines CSR as ‘the esponsibility of enterprises for their impacts on society’.2 This is the definition which is the most suitable for the c ontext of the article’s research question. As this article will focus on companies from the US and Japan, the authors also provide an overview of the focus on CSR from the US and Japanese perspective. In the US there is no governmental regulation regarding CSR or business best practices. Instead, according to findings from Bennett American, companies have a marked tendency to use codes of conduct.3 The American CSR perspective could be described as following a principles-based approach, with codes of conduct that prescribe values and principles which company members as a whole should aspire to follow. ...
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...This article is published in a peer-reviewed section of the Utrecht Law Review Four Case Studies on Corporate Social Responsibility: Do Conflicts Affect a Company’s Corporate Social Responsibility Policy? Cristina A. Cedillo Torres, Mercedes Garcia-French, Rosemarie Hordijk, Kim Nguyen, Lana Olup* 1. Introduction 1.1. Background and objectives This article will discuss the different Corporate Social Responsibility (CSR) issues that emerged within four multinationals (Apple, Canon, Coca-Cola and Walmart). There is no clear definition of CSR. In Corporate Social Responsibility, Legal and semi-legal frameworks supporting CSR Lambooy gives an r o verview of several definitions of CSR.1 The European Commission defines CSR as ‘the esponsibility of enterprises for their impacts on society’.2 This is the definition which is the most suitable for the c ontext of the article’s research question. As this article will focus on companies from the US and Japan, the authors also provide an overview of the focus on CSR from the US and Japanese perspective. In the US there is no governmental regulation regarding CSR or business best practices. Instead, according to findings from Bennett American, companies have a marked tendency to use codes of conduct.3 The American CSR perspective could be described as following a principles-based approach, with codes of conduct that prescribe values and principles which company members as a whole should aspire to follow. ...
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...operations management joined Walmart as hourly associates Increase of Increase of More than 59% in earnings per share(1) (1) Data reflects five-year period from fiscal 2009 through 2013. 123% in free cash flow(1)(2) $ 60B returned to shareholders through dividends and share repurchases(1) (2) Free cash flow is a non-GAAP measure. Net cash provided by operating activities of continuing operations is the closest GAAP measure to free cash flow. Reconciliations and other information regarding free cash flow and its closest GAAP measure can be found in the Management’s Discussion and Analysis of Financial Condition and Results of Operations included in this Annual Report and on our website at www.stock.walmart.com. About the cover: Regardless of the market where we operate, the retail format or the website, Walmart serves customers with one core mission: to help people save money so they can live better. To learn more about Walmart’s business strategies and company mission, please visit our electronic report at www.stock.walmart.com. You’ll hear from management, associates and customers about our business. Many of Walmart’s most innovative ideas originate from the insights of associates across our global operations. Michael T. Duke President and Chief Executive Officer Wal-Mart Stores, Inc. To our shareholders, associates and customers Over the last few years, I’ve shared with you how we would build the “Next Generation Walmart” and serve the “Next...
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...operations management joined Walmart as hourly associates Increase of Increase of More than 59% in earnings per share(1) (1) Data reflects five-year period from fiscal 2009 through 2013. 123% in free cash flow(1)(2) $ 60B returned to shareholders through dividends and share repurchases(1) (2) Free cash flow is a non-GAAP measure. Net cash provided by operating activities of continuing operations is the closest GAAP measure to free cash flow. Reconciliations and other information regarding free cash flow and its closest GAAP measure can be found in the Management’s Discussion and Analysis of Financial Condition and Results of Operations included in this Annual Report and on our website at www.stock.walmart.com. About the cover: Regardless of the market where we operate, the retail format or the website, Walmart serves customers with one core mission: to help people save money so they can live better. To learn more about Walmart’s business strategies and company mission, please visit our electronic report at www.stock.walmart.com. You’ll hear from management, associates and customers about our business. Many of Walmart’s most innovative ideas originate from the insights of associates across our global operations. Michael T. Duke President and Chief Executive Officer Wal-Mart Stores, Inc. To our shareholders, associates and customers Over the last few years, I’ve shared with you how we would build the “Next Generation Walmart” and serve the “Next...
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...transactions is not possible | Increase both liabilities and Equity for the same account | A transaction that increases Liabilities and Equity at the same time. | Is not possible | Identifying Transactions, Recording transactions, and communication transactions should be performed in what order? | Identifying, recording, and communicating | The proper order for these transactions are Identifying, recording, and communication | True | Who is an external user of accounting information | Company Customers | Internal users of accounting information are | Sales staff, officers and directors, budget officers | Managers and internal users of accounting information | Service | Managers and internal users of accounting information | Research and development | Managers and internal users of accounting information | Production | Managers and internal users of accounting | Human resource | This person is a manager but is not an internal user of accounting information | Partner in a CPA firm charged with conduction the company's external audit. | The Cost principle | accounting information based on actual cost | The cost principle | Does not take into consideration the actual value of the asset, it only records the actual cost paid for the asset | The going-concept principle | something that remains in operation in the foreseeable future | The business entity principle | requires that a business to be accounted for separately from its owners and any other entity. | The monetary...
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...first Walmart in Rogers, Ark. 1967: The Waltons now own 24 stores, ringing up $12.7 million in sales. 1969: The company officially incorporates as Wal-Mart Stores, Inc. 1970s 1970: Walmart becomes a publicly traded company on October 1. 1971: The company’s first distribution center is opened in Bentonville, Ark. 1972: Walmart is listed on the New York Stock Exchange (ticker: WMT). Now with 51 stores, Walmart records sales of $78 million. 1975: Inspired by a visit to a Korean manufacturing facility, Sam Walton introduces the Walmart cheer. 1976: David Glass joins the company as EVP of finance. 1979: The Walmart Foundation is established. 1980s 1980: Walmart reaches $1 billion in annual sales, faster than any other company at that time. 1983: The first Sam’s Club opens in Midwest City, Okla. Walmart replaces cash registers with computerized point-of-sale systems, enabling fast and accurate checkout. 1987: The company installs the largest private satellite communication system in the U.S., linking the company’s operations through voice, data and video communication. 1988: The first supercenter opens, in Washington, Mo, combining general merchandise and a fullscale supermarket to provide a one-stop shopping convenience. David Glass is named CEO. All trademarks in this report are the property of their respective owners. © 2012 Wal-Mart Stores, Inc. 50 years of helping customers save money and live better 1990s 1991: Through a joint venture with Cifra, Walmart expands...
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...| A CRITICAL PERSPECTIVE ON STRATEGIC CSR AS A TOOL FOR MARKETING AND BRAND DIFFERENTIATION | | | Mattias Norén, Niklas Nygård | 2014-01-16 | | “What are the underlying reasons for abusive Strategic CSR in marketing and brand differentiation, what are the consequences and are there any solutions?” Introduction to CSR For Corporate social responsibility(CSR) a lot of different definitions exists but the one we chose to use in this report was defined by (McWilliams, Siegel och Wright)) as “actions that appear to further some social good, beyond the interests of the firm and that which is required by law”. This definition defines a wide concept that contains everything from corporate environmental strategies, employee empowerment, health and benefit plans for employees and corporate philanthropy. The linking factor between these different implementations is that corporations and businesses should expand their responsibility beyond absolute necessity and their core stakeholders group. While CSR is very modern as a defined concept it is still based on a lot of old ideas. For example many companies in the late 1800s based its business on scientific betterment which often meant that employee benefits was taken a lot further than the requirements of the law (Barley och Kunda). Today CSR has evolved to something more than the initial idea of expanded responsibility and it’s used as a tool for companies to reach goals outside of areas normally connected to CSR...
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