Descripción: Discrimination -- choosing one thing over another -- is an inevitable feature of the material world where scarcity of goods and time is the pervasive feature. There is no getting around it. You mus...
ATK Case Book & Tips for InterviewingFull description
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A brief look into the tremolo technique on the classical guitar including some methods of practicing. Includes excerpts from one of the most popular tremolo works Recuerdos de la Alhambra.Full description
The TOEFL IBT is now the most common format for TOEFL, and poor computer skills can make you nervous, careless and slow. Improve your chance of success by being familiar with a computer and by making full use of the pre-test computer tutorial.
grooves for bassDescrição completa
grooves for bassFull description
Descrição: Its a only one complilation for many pieces of J.S Bach, arranged for electric guitar. One way to try baroque things to your sound. Enjoy!
grooves for bassDescripción completa
Its a only one complilation for many pieces of J.S Bach, arranged for electric guitar. One way to try baroque things to your sound. Enjoy!
grooves for bass
tutorials tips
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Descripción completa
Descripción completa
Descripción: Tips for guitarists
ACG 6425 Strategic Cost Management Emerson Electric Company Case Study Hints
The actual questions to be answered in this case are qualitative in nature, so the numbers are important, but only as far as they relate to the qualitative analysis of the case. You are not required to provide any ‘in-depth’ in-depth’ analysis of the financial information presented in this case. You may want to provide summary information of any financial trends observed in the financial exhibits. Overall, the case is not as daunting as it may first appear. The questions asked in this case are the following: 1. Evaluate CEO Knight’s Knight’s strategy for the Emerson Electric Company. C ompany. In view of the strategy, evaluate the planning and control system described in the case. What are the strong and weak points? 2. What changes, if any, would you recommend to the CEO? 3. What role should the eight business segment managers have in Emerson’s Emerson’s planning and planning and control system? Use the 6 elements of the best-cost producer strategy as a lens to view the entire planning and control process. 1. 2. 3. 4. 5. 6.
Commitment to total quality and customer satisfaction. Knowledge of the competition and the basis on which they compete. Focused manufacturing strategy, competing on process as well as design. Effective employee communications and involvement. Formalized cost-reduction programs, in good and bad times. Commitment to support strategy through capital expenditures.
Make sure that you have a thorough understanding of the planning and control process so that you can effectively comment on what occurs at Emerson Electric to answer the three questions above. There are three major elements in the planning and control process: 1. Planning process a. Scheduled meetings – meetings – what, what, who, when b. Documents required c. Who prepares what and who is responsible for what 2. Monthly reporting – reporting – what what reports are used to control the operational results 3. Compensation of division management – how does it work and is measured? Tied to strategy?
1
Areas to review in the textbook
To help answer the required questions in the case study format it will be helpful to review the following areas in the textbook. These are suggested areas; you may pull in other areas as well.
Chapter 10 – Behavior Issues in Budgeting a. Budgetary slack b. Goal congruence c. Authoritative or participative budgeting d. Difficulty level of the budget target e. Linkage of compensation and budgeted performance Chapter 18 – a. Performance Measurement and Control i. Performance measurement ii. Management control iii. Objectives of management control iv. Employee contracts b. Design of Management Control Systems for Motivation and Evaluation i. Formal and informal control systems ii. Decentralization iii. Types of strategic business units
Exhibits – Financial numbers
There should be no in-depth analysis of the numbers except gaining an understanding of the numbers so you can analyze how they affect the qualitative issues. For these exhibits, the expectation is just a global overview of what is presented and the trends that may be represented. Keep in mind who is preparing the numbers in each of the reports – i.e. the division managers prepare the sales budgets, but top management produces the expected sales increase percentage for the future year forecasts, which creates the ‘sales gap’ in Exhibit 2. Exhibit 1 – The Value Measurement Chart – Assesses Value Creation at a Glance a. Concentrate on the following items (Page 826 in the textbook): i. NOPAT = after tax operating income. This measure shows the total pool of cash available to suppliers of capital. ii. Economic profit = EVA (economic value added). It is the estimate of the business’s economic profit generated during a given period. 2. Exhibit 2 – Sales Gap Chart a. Review the current total consolidated sales figures and trends from prior years to future years. Compare to top managements 15% growth targets. 3. Exhibit 3 – Chart for information contained in Exhibit 2 4. Exhibit 4 – Profit and Loss Measures 2
a. Look at the trends based on the percentages from prior years through the future years to see if the forecasts seem appropriate 5. Exhibit 5 – President’s Operating Report Division a. What are they tracking on a monthly basis and does it match their overall strategy?
