Danforth and Donnely Case - Free Essay Example

Sample details Pages: 1 Words: 370 Downloads: 5 Date added: 2017/09/11 Category Advertising Essay Did you like this example? In the case of Danforth and Donnely, multiple questions are brought up concerning whether or not certain events count as cash flows. One such argument is whether or not the marketing costs of Blast should be considered as a cash flow. Another cash flow argument concerns the working capital required for Blast. The new product would also use excess production facilities and building space and could conceivably incur cash flows. Erosion from sales of current laundry products is also argued as being a possible cash flow. Finally, the question of debt, as funding for the project, is questioned of being a cash flow. The question of cash-flow-or-not for each of these dilemmas can be answered by looking at some of the the principles of corporate Finance. The marketing cost was an expense. However, the project has not yet been implemented So, at this point in time, it is a sunk cost. Therefore, it is irrelevant to the projects continuation and should not be considered a cash flow. A net investment of $200,000 is required as additional working capital. Don’t waste time! Our writers will create an original "Danforth and Donnely Case" essay for you Create order This money would be considered a part of the initial outlay, which is money used to start up the project. Even though the money wouldnt leave the company, it would be a cash flow. It would happen during the life of the project and the project could not happen without it. The product should not be charged with the usage of production facilities and building. The overhead costs of these things would happen regardless of the products existence. Therefore, it should not be considered as a cash flow. Sales stolen from existing products do not count as cash flows. The money diverted from the old products is not new money. Money diverted from competitors products would be considered a cash inflow, but this is not the case. A chance of a competitor introducing a similar product still would not have any effect. Interest payments from funds used to finance the product would not be considered cash flows. The cost of financed money should not be accounted for because future cash flows get discounted to present value. Tis is all the recognition needed. Deducting interest payments would be accounting for the same expense twice.

Project Management Project Manager Project - 1011 Words

Project managers cannot, and must not, do everything. They must rely on the project team to complete the project work. Project managers must find ways to motivate the project team to complete the work. There is a tendency, in many projects, for the project team to be very excited about the project at the start and then excitement wanes as the project moves toward completion. The project manager must coach and mentor to develop the project team to ensure the excitement, willingness, and dedication to the project work continues. Throughout the project the project manager will have to address project team retention, labour relations, performance appraisals, and, depending on the nature of the project work, health and safety issues. As most†¦show more content†¦Many of the researchers who analyse the general organisational development in modern industry refer to a need to face the challenges of a higher degree of globalisation, uncertainty and complexity, and a fast technologica l advancement. The historical overview by Mary Jo Hatch (1997) of organisational change and of the literature that deals with this field of research points to these changes. It also indicates the organisational responses; increased organisational flexibility and increased employee commitment and responsibility. According to Hatch, this development leads to the creation of ‘postindustrial organisations’ where the organisational borders are indistinct, or have disappeared, and where employees to an increasing degree work in temporary teams where they represent a certain area of expertise. The development described by Hatch has also been documented by the sociologist and organisational theorist Wolf Heydebrand (1989). Heydebrand puts projects at the centre for the analysis of modern firms and societal structures and argues that project-based structures are a prominent feature of many modern organisational forms. He states that modern organisations â€Å"are staffed by spe cialists, professionals, and experts who work in an organic, decentralised structure of project teams, task forces, and relatively autonomous groups† Objectives of the study †¢ To know the level of relationship betweenShow MoreRelatedProject Management : A Project Manager2515 Words   |  11 PagesA Project manager is the individual who has the general obligation regarding the fruitful start, arranging, outline, execution, checking and controlling. The work s title is used every bit a component of the evolution, construction planning, data innovation and a broad scope of commercial project that deliver items and giving medications. The project supervisor must take in a mix of aptitudes including a mental ability to ask entering inquiries, recognize implicit suppositions and resolution clashesRead MoreProject Management : A Project Manager Essay1533 Words   |  7 PagesIn project management, there are many methods to handle how the project should be completed, how an et hical situation should be handled, what types of decisions should be made. Furthermore, how much knowledge the project manager should possess, their focus of completing the job on budget and schedule, and understand the scope, as well as, knowing how to communicate. When I completed OGL 320: Foundations of Project Management, I understood the hard work the project manager had to endure to completeRead MoreProject Management For A Project Manager Essay1460 Words   |  6 Pagesavailable to support the project manager In order to run a project, the manager needs support with different things such as resources, tools and methodologies. 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The method of the Project Administrator contains a couple of exercises, for instance, (Heldman, 2011): Sorting out and Decoding Opportunity Arranging and Sequencing Activity Asset Planning Making Arrangements Time Calculating Expense Calculating Building up a Price range Documentation Making Charts and Arrangements Risk Research Directing Risks and Problems Watching and Verifying Improvement Bundle Management Fundamental Impacting Business

Jk Saddlery’s Cashiering Function

Question: Discuss about theJk Saddlerys Cashiering Function. Answer: Introduction: JK Saddlery is a small family business that makes and sells saddlery and other rural supplies to farmers, producers and tourists. The organizations products are very well known, famous and popular among its customers. This therefore gives them the opportunity to sell both in retail to its customers, in wholesale to other retailers and through mail orders to the general public. However, the owner (manager) of the organization does not like them selling through the internet because he does not trust this method. On the contrary, he prefers selling the old school way of selling which is tried and proven by many business people to be the best. This is where only the trusted customers are in a position to be given credits, can pay in cash and cheque at the cashier window or via email while the other customers are allowed to pay only by cash or by cheque at the shop. Furthermore, the owner of the business employees only one cashier who is in charge of all payments and all banking activities. Systems Documentation A Data Flow Diagram A system documentation data flow diagram is a diagrammatic representation of how any data or information flows within a business during business activity and processing. It shows every detail of any type of data that passes through the business process or is involved in the business process. However, there may be some assumptions made by the business when it comes to drawing a Business System Data Flow Diagram. Therefore in this diagram the assumption is that the mentioned activities and information is the only information that is required to complete a business cycle for the organization i.e. there is no additional activity or subtraction of any activity(Sciascia and Mazzola, 2008). Process Map A process map is workflow diagram that show a person how an organizations activities are done and follow as well helping a reader to understand and follow the process schedule as it must be. It is used by any organization to show what it does, who does what and where the activity is done as well as what time the activity should be done. This means that, it is a different way of managing a business and eases the work involved in a business process by allocating the workers according to their specialization, qualifications, experience and skills(Singal and Gerde, 2015). Assumptions That all the workers are perfectly qualified and skilled in their respective places of work and responsibilities. E.g. the cashier is well trained and experienced on accounting activities and any finance related activities. Also it is assumed that the mentioned activities are the only involved in the whole business process with no addition or subtraction of any other. That is the above activities complete the business cycle. Business Risk Analysis Management Risk JK Saddlery being a family business is faced by the risk of poor management. The owner of the business is the man in the family who uses his own knowledge to manage and run the business. E.g. he prefers the old way of serving their customers whereby they have to pay either cash or cheque only for them to buy the organizations products. This business risk may lead to lack of business growth, poor or no development, overall business operation failure among other effects. (Entrepreneurship in Family Firms, Business Families, and Family Business Groups, 2015). Financial Risks Risk of incorrect financial reports. The business owner has employed just one cashier to deal with all the financial issues whereby he receives all the payments, balances them all at the end of the day, documents them, balances them before starting a business day to name just but a few responsibilities played by the cashier of JK Saddlery. Also, there is a risk of delayment of the financial report delivery or even wrong and incorrect reports. When cashiers are overloaded with a lot of work there is a Probability of them coming up with incorrect financial data because of incorrect calculations, frequent errors in balancing or calculations (Filbeck and Lee, 2000) to name just but a few problems related to finances. With this risk, the management is likely to make the wrong financial decisions when it comes to expenditure and investments to new projects(Craig and Salvato, 2011). There is a risk of the business facing fraud from its management. Since JK Saddlery is a family business, there is a risk of the owner taking control of all the finances and more so using them as they would like, for different purposes rather than business and at whatever time he want to. This therefore may lead to employee separation, misunderstanding and mistrust especially to the management. Furthermore, the business owner prefers storing the businesss money i.e. cash and cheques in a cashier drawer which they lock to ensure safety and security of the funds. However, this is one of the most old and insecure ways of storing money for any organization or individual. With this risk, the business is likely to be faced with robbery and theft by outsiders as well as the employees. This risk may also lead to mistrust between the employees and the management or any one that may be associated with the business (Caselli and Gatti, 2005). Operational Risks The owner practices customer discrimination whereby he offers the customers whom he only can trust a chance to buy the organizations products on credit. He also goes further and gives them a chance to pay in cash or cheque to the cashier window or through the email. This means that the owner does not treat his customers equally which is wrong when it comes to business dealings and management. Therefore, this shows that the business may be on the verge of losing its customers because of the worthless discrimination and inequality when it comes to methods of paying for the products. Thisrisk will definitely discourage other customers who may be loyal to the business but not being treated equally and this is likely to cause low sales, low profits and therefore no business growth and development in general. Furthermore, the owner does not allow buying of the organizations products online and instead he opts for the buyer to go and purchase the products in person at the business premises. Therefore they risk losing a lot of sales, profits, their current markets as well as potential markets. This is because in the modern or current world, the most popular and common used way of product purchase is through the internet (online shopping) which JK Saddlery business does not use. Employee loss risk. The business has very few employees in general. The fewer the employees, the more the work and the more the time taken to process any business activity or transaction. Therefore, in JK business, the business process may be short but the employees will have work more than they should so that they can complete a business transaction. The risk of losing of losing employees will lead to the risk of customer loss because of low customer service rate, losing its employees because of being overworked, decreasing its sales because of low customer numbers among other negative effects of lacking enough employees in a business. Also when the business loses its employees the remaining employees are likely to be left overloaded with work and therefore lead to poor, low quality and slow service process for the customers(Dyer, 1989).. Conclusion For any business to be successful, it has to be very well managed and must have enough, qualified and skilled personnel. Also, it must have enough resources e.g. machines for ensuring smooth and perfect running of the business activities as they should be without any hitch. Therefore, for JK Saddlery to be successful it has to change its management, increase its number of employees, change its ways of operations especially methods of product payment and methods of product selling. By doing this, the business will be in a position to bloom and do better in the market. References Caselli, S. and Gatti, S. (2005).Banking for Family Business. Berlin, Heidelberg: Springer Berlin Heidelberg. Collins, L. and O'Regan, N. (2012). Family Business Jubiliee: a celebration of global family business.Journal of Family Business Management, 2(2). Craig, J. and Salvato, C. (2011). The Distinctiveness, Design, and Direction of Family Business Research: Insights From Management Luminaries.Family Business Review, 25(1), pp.109-116. Dyer, W. (1989). Integrating Professional Management into a Family Owned Business.Family Business Review, 2(3), pp.221-235. Entrepreneurship in Family Firms, Business Families, and Family Business Groups. (2015).Journal of Small Business Management, 53(4), pp.1290-1290. Filbeck, G. and Lee, S. (2000). Financial Management Techniques in Family Businesses.Family Business Review, 13(3), pp.201-216. Sciascia, S. and Mazzola, P. (2008). Family Involvement in Ownership and Management: Exploring Nonlinear Effects on Performance.Family Business Review, 21(4), pp.331-345. Sciascia, S. and Mazzola, P. (2008). Family Involvement in Ownership and Management: Exploring Nonlinear Effects on Performance.Family Business Review, 21(4), pp.331-345. Singal, M. and Gerde, V. (2015). Is Diversity Management Related to Financial Performance in Family Firms?.Family Business Review, 28(3), pp.243-259. Stewart, A., Lumpkin, G. and Katz, J. (2010).Entrepreneurship and family business. Bingley: Emerald.

Social Issues Of Yesterday And Today Essays - Kennedy Family

Social Issues Of Yesterday And Today Kevin Sellers April 8, 1998 Social Issues of Yesterday and Today Let every nation know, whether it wishes us well or ill, that we shall pay any price, bear any burden, meet any hardship, support any friend or oppose any foe to assure the survival and the success of liberty, (John Fitzgerald Kennedy). The problems and social issues of our nation years ago have become the problems of today. John Fitzgerald Kennedy became the thirty-fifth president of the United States of America on January 20, 1961. Over thirty-five years later, the problems addressed in his Inaugural Speech are still important social issues of this age. One of the most important social issues expressed in this speech was freedom; the freedom of people from the oppression of Communism. John F. Kennedy made a promise to support any friend or oppose any foe to assure the survival and the success of liberty. He believed that he had been granted the role of defending freedom in its hour of maximum danger. But he knew that he was just the starting point, and it would take many generations to undo the oppression of Communism and the damage that it would cause globally. The predictions that were made in his speech were true; he was the beginning of the ending, and it took over thirty years of cold war to put an end to the greatest Communist nation in the world: the USSR. Although the surmise of the USSR has become history, communism is still alive and well today. The Peoples Republic of China is probably the largest of the few communist nations left in the world. Since the times of J.F.K. the United States has developed political tactics to fight the spread of communism rather that the use of war, such as that of Vietnam. The most common political tactics used are trade embargoes. A trade Embargo will not allow a nation or country to sell or trade certain products, or place a high tax on them so that the general consumer will not want to purchase that particular product. Because of trade embargo's we are able to force other nations into submission without the use of force (war). John F. Kennedy also addressed the problem of poverty, not just with our nation, but as a global problem. This issue has been addressed in the past it is being addressed now and, it will be addressed in the future. The problem of poverty is a serious issue in our present generation. Good jobs are hard to find, which means that most of the jobs available are low paying, and that put a lot of people below the poverty line. Another problem associated with poverty is that some people are just lazy. They don't want to work, and why should they when the government will just pay their way? If a free society cannot help the many who are poor, it cannot save the few who are rich (JFK). John Fitzgerald Kennedy indicated many social issues and problems, which needed to be dealt with not only by the government, but by the people as well. He had a vision for America and the world. John F. Kennedy knew that it would take a nation that was united for the common cause of world well being, so he made this call to action. Ask not what your county can do for you--ask what you can do for your country?Ask not what America will do for you, but what together we can do for the freedom of man. Introduction Strategy: Use a quotation Conclusion Strategy: Make a call to action, Close with a statement or quotation readers will remember Social Issues