Management The new scorecard system - Free Essay Example

Sample details Pages: 3 Words: 813 Downloads: 2 Date added: 2018/12/26 Category Business Essay Type Speech Level High school Topics: Organization Essay Did you like this example? In business, most of the companies face stiff competition of the others. Lack of strategies to deal with the competition may lead to failure of business due to poor management. Having such business solutions, scorecard system may facilitate positive performance of the business. Managers use scorecard to keep track performance of the business (Kaplan 1996).Johansen company faced competitive threat from the investors but having Clark as the manager, he planned to sort out things to remain in the position beside scorecard suggestions that he should receive an overall rating. Various challenges had impact to the performance of the company. First, the company had financial difficulties due to failure to include executives in decision making following up over reluctant of the members. This was solved by recommending replacement of senior executives aiming at financial performance improvement since the new body was curious to initiate ideas. In addition, there was implementation of based incentive system on financial matters making store managers to drive sales critically (Norton 1996). Secondly, analyzation of employees and financial data fueled compromises n customer services besides its profitability. This made the leadership team to change the incentive behavior. Don’t waste time! Our writers will create an original "Management: The new scorecard system" essay for you Create order Besides financial performance of the Johnsens company, there is need to evaluate various possible solutions to the problem. Challenge to the financial problems may create low sales turnover in the market thus limiting investment returns of the company. Putting emphasizes on determination of sales promotions and stores marketing creates positive image to the entire business thus creating new customer demographics due to improved customer service. Furthermore, implementation of the new leadership team focuses on performance of the financial statements thus creating erosion on the success of customer service. Team work provides greater decision making especially to the places of work. The agreement to provide the new scorecard system as a new incentive and performance was initiated because of the stores managersrole. Under the performance of this new system, there will be assessment of stores managers including leadership, financial, customer service and strategy thus enabling ratings of the store managers. The ratings may be in accordance with the numerical scale, meet, below and exceeds expectations. The company strategy sets out forward movement to achieve the desired goals. It is facilitated by creation of companiesalignment and cohesiveness. Evaluation of the store managers on promotion of Johnsens materials and brands marks the journey of the strategy. Financial performance goal is the main company strategy (Norton 1996). Customers marks the start of any business in the society. Positive factors have enacted greater impact to the success of the implementation of the financial performance strategy. They include better communication between organizations thus creating room for better decision making. In addition, top managers inclusive of the executives exercises positive individual behavior. There is a big proportion of respect since managers with the highest ratings are promoted leaving no complaints. Johansens company structure on delegation and direction of duties marks its general improvement in performance. Human resource managers enact the role of forwarding the exercise results to? some? regional managers. This enable the whole leadership team to factor out various ratings of the stores managers. In addition, they also communicate employee complaints and turnover. According to the hierarchy, managers with the top ratings are promoted first to different regional levels (Kaplan 1996). Due to the nature of financial statements, orientations of short-terms and leading indicators of forthcoming financial performance Johansen saw the significance of introducing business perspectives in the business (Drucker 2011). They include, financial perspective which highlights the individual outlook of the companys shareholders. The holding capital in terms of operating income measures the strength of the shareholders. Customer perspective clearly is the simplest way of how the customers values the company. A company delivery of materials to the customer at exact time and the percentage of sales from the new products in the market identifies the company relationship to the customer. Efficiency as the measure in internal perspective highlights the flexibility and effectiveness of the operational tasks. Lastly, by use of research and development in business society innovation and learning perspective gives us room to continue with improvement while being creative in formulation of the ideas. Its measure articulates the proportional change in time margin (Norton 1996). Clark rating is below 5 because of the two reasons namely; low customer service and response rate. The physical location of Orange country was older and wealthier thus making the rate of survey to be low. In conclusion, the new scorecard system should be viewed as an organizational strategy because through it customer relations can be enhanced thus emphasizing on customer service to improve response rate. Market response rate in dependent of locality of the business enterprise having forces such as social status such as wealth and size of the market. Work cited P. F. Drucker, The Practice of Management (New York: Routledge, 2011 Kaplan, R. S., Norton, D. P. (1996). The balanced scorecard: Translating strategy into action.

Human Immunodeficiency Virus ( Hiv ) / Aids - 1278 Words

Human immunodeficiency virus (HIV)/AIDS is a pandemic problem affecting global health. At the end of 2015, 36.7 million people were living with HIV/AIDS globally. The rate of incidence is more prevalent in Sub-Saharan Africa with almost 1 in every 24 adults living with HIV/AIDS. In the united states, HIV/AIDS is a diversified health problem affecting all sexes, ages and races and involving the transmission of multiple risk behavior. However, with the introduction of various prevention programs and antiretroviral drugs, the incidence of HIV/AIDS has reduced. Keywords: HIV/AIDS, global health problem, mode of transmission, risk behavior, incidence, prevalence, preventive modes, pandemic, epidemic, symptoms and characteristics of the†¦show more content†¦Below is a table of the population most affected with HIV new diagnoses according to the CDC, 2015 report. New HIV diagnosis for most affected sub populations,2015 Source: CDC. Diagnoses of HIV infection in the United States and dependent areas, 2015. HIV Surveillance Report 2016;27. Characteristics and statistics of HIV/AIDS from a national and global perspective HIV/AIDS is acquired when there is an unprotected sexual intercourse, exposure to infected blood or body fluids, sharing of needles or syringes with an infected person and from mother to child through breast feeding or vaginal birth. The most prevalent places are the urban cites in the U.S. As discussed earlier, the population at risk for the infection are gay and bisexuals, IV drug users and heterosexuals. Within the first two weeks of acquiring HIV infection, the infected person develops fever usually 100.4degrees, fatigue, sore throat, headache, muscle and joint pains. This normally resolves itself without any intervention. Some people might also develop a digestive and respiratory problem such as nausea vomiting and dry cough. If untreated, it can result in low TCD4 lymphocyte count below 200 resulting in AIDS. Statistically, from the national level, the most prevalent states in the U.S in 2015 according to CDC are Florida (4,864), California (4,728),Show MoreRelatedHuman Immuno deficiency Virus : Hiv And Aids1935 Words   |  8 PagesHuman Immunodeficiency Virus, better known as the acronym HIV is a virus that destroys the immune system and can evolve into an infection. HIV is known a as pandemic because the immune system can fight off the infection but can never clear the HIV out of the body. â€Å"HIV is spread through contact with the blood, semen, pre-seminal fluid, rectal fluids, vaginal fluids, or breast milk of a person infected with HIV.† [AIDS] According to AIDS.info, in the United States, the virus is usually contractedRead MoreHiv / Aids : An Acronym For Human Immunodeficiency Virus971 Words   |  4 Pageswith no vaccine or cure. That disease is HIV/AIDS. 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Globalized Economy Fair Value Measurements †MyAssignmenthelp.com

Question: Discuss about the Globalized Economy Fair Value Measurements. Answer: Introduction: The overall assets are considered to be economic resources, which could be divided into tangible and intangible form. In addition, the overall assets are mainly controlled by the company, which could be converted into cash for supporting its obligations. The assets are divided into current and non-current assets, where current assets are mainly identified to be cash, accounts receivables and inventory. However, non-current assets can be identified to be machinery, land and equipments, which cannot be sold quickly to generate cash. In the similar way liabilities are mainly considered as obligations of the company, which needs to be paid in future date. These liabilities mainly incur from past transactions that is conducted by the company. Furthermore, equity is mainly considered to be the difference between total asset and liabilities of an organisation. In same instance, current liabilities can be identified, as account payable, short term obligations and term loan. On the other hand, non-current liabilities can be identified as long tem loan, bonds issued and long term financial obligations. The equity can also be stated as the contribution that is provided owner/shareholders in form of capital, which is directly used in maintaining the relevant activities of the organisation. The balance sheet statement directly reports assets, liabilities and equity functions (Scholes, 2015). Equity can be identified as the total investment, which is conducted by shareholders, which is depicted in balance sheet in form of common stock. Furthermore, the overall income is identified to be the revenue generated by the company after selling its products and services. Relevant income cash also is detected the overall inflow of funds, which could allow the company to afloat in the competitive market. Income can be identified as revenue and any cash inflow, which is received by the company. Lastly, expenses are the costs incurred from operations of the company, which help in deriving the actual net income from operations. Moreover, the Income statement mainly includes both income and expenses conducted by the organisation. Balachandran, Marra, Rangan (2014) mentioned that with the help of adequate financial report companies are able to depict their actual financial position to its investors. Expenses are mainly identified as the cost of goods, administrative expenses, rent and any cash outflow, which is been conducted by the company. The overall balance sheet directly includes net income, additional investment in the business, and owners withdrawal from the income statement. Hence, the income statement is directly related to the balance sheet for depicting the actual financial statement. The balance directly reflects in balance sheet as retained income, deduction in owners equity and high investment. The major linkage between income and balance sheet is the relevant transfer of cash inflow and outflow, which helps in deriving the net income of the organisation. Moreover, with the help of income statement the relevant changes in balance sheet cannot be conducted, which might reduce viability of its operations. Hence, charges of depreciation are also transferred to balance sheet reducing value of assets accumulated by the company. Providing relevant response to Bob: With the help of double entry system companies are mainly able to conduct business transactions in two different accounts. In addition, double entry system directly help in maintaining the relevant accounting equation, which is asset= liability + equity. Hence, the use of double entry system directly allows the organisation to adequately adjust the relevant transaction in its financial report, where both increment in cash and liability both increases with the inclusion of bank loan. The income and expenses directly depicts the retained income of the organisation, which is reflected in equity section of the balance sheet (Loughran McDonald 2016). The balance sheet equation (asset = liability + equity) can mainly help in identifying the relevant double entry system, which might tally all the relevant entries. The use of double entry system such as depreciation entry could reduce the balance in income statement and reduce asset value in balance sheet for tallying the balance sheet equa tion. The errors in the double entry system are mainly identified from the use of Trial balance, which could directly identify any kind of problems those in recording transactions. The overall errors identified by the owner detected from trial balance could directly reflect on the financial performance of the organisation. The overall wrong entry could be conducted, which might reflect on the double entry system but could only be detected in Trail balance. Hence, the double entry system does not present the errors, which could be conducted while recordings made by individuals (Palepu, Healy Peek, 2013). Therefore, the errors in double entry system can be conducted in the recording process, which might be the case for Sarah. This error in recording could directly reflect on the trail balance from which the entries can be adjusted and depict the actual transaction of the organisation. Blacker Ltd Balance sheet: Particulars Amount Current assets Cash $ 785,695 Inventories $ 42,000 Prepaid rent $ 10,000 Shop fittings and fixtures $ 9,480 Term deposit $ 200,000 Total current assets $ 1,047,175 Noncurrent assets Land purchased $ 400,000 Total $ 1,447,175 Current liabilities Payables $ 20,500 Noncurrent liabilities Loan $ 400,000 Equity Shareholders investment $ 1,000,000 Retained earnings $ 26,675 Total $ 1,447,175 References: Balachandran, K. R., Marra, A., Rangan, S. (2014). Research Challenges in Accounting and Finance in a Globalized Economy Fair value measurements, Valuation models, and Management practices.Journal of Accounting, Auditing Finance,29(1), 88-89. Loughran, T., McDonald, B. (2016). Textual analysis in accounting and finance: A survey.Journal of Accounting Research,54(4), 1187-1230. Palepu, K. G., Healy, P. M., Peek, E. (2013).Business analysis and valuation: IFRS edition. Cengage Learning. Scholes, M. S. (2015).Taxes and business strategy. Prentice Hall.