Auditing research paper for the Maybe It Was, But We Weren't case

Auditing for the Maybe It Was, But We Weren't case - Research Paper Example Relating to this case, the determination of the reports issued by Friday as appropriate or otherwise, has been taken into concern as a primary objective of this paper. Moreover, the significant terms associated with auditing like ‘scope limitation’, ‘limited engagement and ‘piecemeal opinion’ have also been considered and related to the case in the discussion of this paper. Most significantly, how Friday should submit the auditor’s report to the Board of Directors as on its performance for the Year 3 and Year 2 from a comparative perspective has also been considered in the discussion of this paper. INTRODUCTION The perception of audit or auditing is principally described as a procedure of verifying and examining the accounting as well as financial records of a particular company. It has often been argued that the organizations belonging to this modern day context normally conducts auditing for the purpose of adding credibility to their respectiv e financial statements resulting in analyzing along with recognizing the chief financial areas that are required to be enhanced. It has also been apparently observed in this regard that the modern organizations often attempt to prioritize auditing due to rising complexities particularly in the overall business or operational procedures and the decision-making systems (Gupta 1-2). In specific terms, the aim of this report is to analyze the approaches adopted and executed by the Certified Public Accountants (CPAs) appointed within Friday & Co (Friday) who are again bestowed with the sole responsibility of auditing the financial statements of Johnson Company. It has been viewed in this similar concern that the CPAs have audited the financial records or the statements of Johnson Company and duly expressed a sort of incompetent opinion on the balance sheet only, deciphering a degree of negligence when considering other forms of financial statements. In this regard, a balance sheet depict s a financial statement which recapitulates liabilities, shareholder’s equity and assets among others with respect to a particular company. It is often regarded as a condensed financial record or a statement that portrays the monetary position of a business entity on a specific date. The other forms of financial statements might generally embrace an income statement along with a cash-flow statement, statement concerning retained earnings as well as profit and loss statement among others (Nelson 193-194). According to the case, it has been apparently observed that the CPAs of Friday had expressed an unqualified opinion on the balance sheet of Johnson Company as on December 31, Year 2. Specially mentioning, Friday did not note the inclusion of the physical inventory as of December 31, Year 1, on the grounds that the transaction took place prior to the appointment of auditors. However, the report indicates certain critical issues or aspects related with auditing concerns. For in stance, the first aspect was mainly concerned on the reason owing to which the opinion was issued only on the balance sheet as on Year 2. The second aspect that has been recognized in this context had been concerned about judging whether the issuance of an unqualified opinion by the CPAs of Friday, only for year 2 was appropriate. If otherwise, what are the suitable ways of disclosing or reporting the case? Finally, the other critical issue that has been viewed to appear in this case scenario was concerned with the fact that is it

Quality in health care administration Essay Example | Topics and Well Written Essays - 2500 words

Quality in health care administration - Essay Example effective care management strategies (Upshaw, Kaluzny & McLaughlin, P192) The Process Component involves a critical assessment of the factors required for the delivery of effective patient care that is individualized to meet the needs of each patient, and the effective management of resources and professional associations required to address patient needs. Primary Outcomes addresses issues such as quality care from the perspective of patient and health professional. Strategic Outcomes involves a broader perspective of outcome in relation to health organizations and healthcare consumers. The Professional Model has a more restricted focus than the Transformational Model as it concentrates on the professional health care delivery system from the vantage point of the caregiver (Upshaw, Kaluzny & McLaughlin, P193). The focus is more traditional, based on the autonomous decision-making role of the individual caregiver. The Transformational model is collaborative and reflects the increasing organizational complexity of the healthcare delivery system. This model incorporates many aspects of professional development that are critical to successful health care delivery, and many aspects of the Professional Model are included in the Professional Practice Component of the Transformation Model. The major areas of focus in this area of the Transformational Model overlap the Professional Model, including Professional Growth, Transformational Leadership, Collaborative Practice and care Delivery. The Professional Practice Component is the most important area of the Transformational Model, and is more dynamic and expansive in its professional goals and overall global perspective on health care delivery than the Professional Model. The Transformational Model contains many elements that are central to CQI. Continuous Quality Improvement is an important management concept that has been applied to the delivery of health care services to achieve the most effective practices from

Role Of An Effective Workplace Mentor Nursing Essay

Role Of An Effective Workplace Mentor Nursing Essay The role of an effective workplace mentor is to help the mentee achieve a particular work specific goal or goals; this can be to hit a particular set target, to become competent in performing a particular task essential to their role; or something as general as improving confidence in the work environment. It is the responsibility of the workplace mentor to give help and support in a non-threatening manor; provide a positive environment that the mentee feels comfortable in and can feel encouraged to discuss their needs and circumstances openly; and to ensure confidentiality and honesty is upheld in accordance with mentoring guidelines. The role of a workplace mentor is a significant one and not all people in the workplace will be suited to. An effective workplace mentor will need to have excellent communication skills, both speaking and listening and be able to commit the necessary time to each mentee. In addition they need to remain objective, have a calm and patient demeanour, and bring a positive attitude to each session. It is important that the workplace mentor has the confidence to lead mentoring sessions and give appropriate advice and guidance tailored to the needs of the mentee. In my role as a Support worker on the Steps to Work program I act as a workplace mentor for my clients who I place in work placements with local employers for 8 or 26 weeks. I work with a wide range of clients from those who need a minimum level of guidance to those who require on-going support throughout placement. I mentor clients initially on how to perform in their placement interview, then how to perform in their particular job role and throughout on the best methods of job searching. Some clients will have lower level needs and may need mentored on getting to work on time and how to effectively communicate in the workplace. Describe developmental goals that can be met through mentoring There are a wide range of development goals that can be met through mentoring and these very much depends on the individual mentees and what they require from the sessions and what areas they need mentored on. For example one of my clients, Stephen has a learning difficulty and as a result finds job searching and applying for jobs difficult. The development goals for Stephen are to become competent at reading job advertisements in order to decide if he meets the criteria and to fill out application forms to a higher standard than he can currently. Another one of my mentees, Leah, has confidence issues and can be shy and awkward in social situations with people she does not know very well. Leahs development goal would be to gradually increase her confidence meeting new people and becoming more comfortable in her placement dealing with customers and handling queries. As part of this mentoring course I am also mentoring one of my colleagues Carla and trying to help her with some issues she has identified for development. Carla finds it hard dealing with difficult clients and clients that are a lot older than her; the development goal in this situation would be for Carla to become more confident dealing with these client groups and develop a some action points to implement. Describe the role of the mentee (person being mentored) The role of the mentee is integral to the mentoring process as without the need of mentees there would be no need for mentors. I see the role of the mentee as being two sided; one aspect is that they need mentored in by a suitable person in order to progress their development with a certain role or task. The other side of the role is that the mentee needs to be committed to the mentoring process, educate the mentor as to what exactly they need mentored on and help the mentor to understand what learning style is best to utilise. If the mentoring process is to be a success the mentee needs be open with the mentor during sessions and be willing to put into practice the advice given by the mentor; the mentee needs to be committed to achieving a positive outcome and be honest with the mentor throughout the process. Key concepts, principles and practices of mentoring Describe the similarities and differences between coaching and mentoring Coaching and mentoring are development techniques based on the use of one-to-one discussions to improve an individuals skills, knowledge or work performance. It is possible to draw differences between coaching and mentoring however in practice the two terms are often used together. The concept of Coaching is to target high performance and improvement at work and usually focuses on specific skills and goals of the individual(s) being coached, although it can potentially also have a positive effect on an individuals personal attributes such as social interaction, communication skills, motivation or confidence. The process of coaching generally lasts for a relatively short period. Although there is a lack of agreement among coaching professionals about precise definitions, the following are some generally agreed by the CIPD characteristics of coaching in organisations: It is essentially a non-directive form of development, though this is not a hard and fast rule. It focuses on improving performance and developing individuals skills. Personal issues may be discussed but the emphasis is on performance at work. Coaching activities have both organisational and individual goals. It provides people with feedback on both their strengths and their weaknesses. It is a skilled activity, which should be delivered by people who are trained to do so. http://www.cipd.co.uk Mentoring involves the use of similar models and skills of questioning, listening, clarifying and reframing associated with coaching. Traditionally, however, mentoring in the workplace has described a relationship in which a more experienced senior colleague uses their greater knowledge and understanding to support the development of a less experienced or junior colleague. In contrast to coaching arrangements, mentoring relationships tend to be longer term; mentoring relationships work best when they move beyond the directive approach of a senior colleague telling it how it is, to one where both learn from each other (CIPD). A truly effective mentoring relationship or environment between mentor and mentee should provide a learning opportunity for both parties. Mentoring Coaching Ongoing relationship that can last for a long period of time Relationship generally has a set duration More informal and meetings can take place as and when the mentee needs some advice, guidance and support Generally more structured in nature and meetings are scheduled on a regular basis More long term and takes a broader view of the person Short term (sometimes time-bounded) and focused on specific development areas/issues Mentor is usually more experienced and qualified than the client. Often a senior person in the organization who can pass on knowledge, experience and open doors to otherwise out-of-reach opportunities Coaching is generally not performed on the basis that the coach needs to have direct experience of their clients formal occupational role, unless the coaching is specific and skills-focused Focus is on career and personal development Focus is generally on development/issues at work Agenda is set by the client, with the mentor providing support and guidance to prepare them for future roles The agenda is focused on achieving specific, immediate goals Mentoring revolves more around developing the mentee professionally Coaching revolves more around specific development areas/issues  ©http://www.mcgraw-hill.co.uk/openup/chapters/9780335221769.pdf Explain the key concepts, principles and practices of mentoring In my opinion the key concept of mentoring is to help the mentee to the best of my ability to enable them to get the best out of themselves. The key principles and practices of mentoring is to build an effective working relationship between the mentor and the mentee, to set and review smart goals, and to encourage the mentee to take ownership of the process. It is essential that the mentoring relationship is built on openness and honesty and both parties demonstrate commitment and a positive attitude throughout. The mentor should be capable of structuring the sessions towards helping the mentee achieve their goals through recognised questioning techniques and utilising mentoring models such as the Grow Model or Radar. One practice that will prove essential to the mentoring process is the establishment of a contract from the offset to which both parties have to adhere to and can be used as point of reference if things go array during a session. Own ability to use a variety of communication strategies to mentor individuals at work Assess your own ability to use a variety of interpersonal communication skills and your ability to give effective feedback to mentees on their development My role as a Support Worker on STW and the experience I have acquired from previous job roles has provided me with the opportunity to develop excellent interpersonal communication skills and enabled me to be confident and comfortable giving feedback to clients on a variety of issues. On a daily basis I communicate with clients, employers, colleagues and local govt. agencies such as the Job centre and SSA. In addition I have to review my clients monthly and deliver effective feedback on their performance in placement and after placement interviews. I feel that these skills are very transferable to the mentoring process and as a result I have felt very comfortable holding my mentoring sessions and delivering effective feedback to my mentees in order to help them achieve their goals. Identify areas for personal development I feel that through undertaking this mentoring course I have had the opportunity to evaluate myself and reflect upon my abilities not just as a mentor but also in my job role as a Support Worker on the Steps to Work program. SWOT Analysis Strengths: I feel that the areas I identified as strengths were my confidence in terms of delivering mentoring sessions, my communication skills and my ability to build a rapport with the mentees. In addition I feel that I was able to adapt well within sessions in terms of responding to the needs of the mentee as opposed to having a strict structure and following it through regardless. Weaknesses: One area I have earmarked for development is to ensure I am able to commit sufficient time to conduct mentoring session thoroughly; at times I felt as if I was squeezing the sessions into my working week as opposed to them having equal priority with my other work. One possible solution would be to ensure I plan my time more effectively and leave myself more time to prepare for and reflect after mentoring sessions. Opportunities: Having undertaken the mentoring qualification and officially conducted mentoring sessions, I see this as an opportunity to develop my own skills not just as a mentor but as a Support Worker. This experience should help me to build better working relationships with clients and colleagues and to be more insightful to the needs of others and how they may view different situations in relation to I view them. Threats: The external threats I faced when trying to deliver quality mentoring sessions were the demands of my job in terms of having the time to schedule and carry out mentoring sessions. In addition I also had to consider the impact on the mentees placement, each client has designated working hours and I needed to schedule sessions around the placement or liaise with the placement provider to get the mentee released for the session.

Stragegic Plan

A Strategic Plan And It’s Impact on the Rise and Downfall Of Netflix, Inc. [pic] MBA 517 Fall 2012 (Strategic Planning and Policy Analysis) 14th Dec, 2012 TABLE OF CONTENTS †¢ Executive Summary †¢ Strategic Vision †¢ Business Objectives †¢ Environmental Analysis †¢ Industry & Competitive Analysis †¢ SWOT Analysis †¢ Business Strategy †¢ Implementation Plan †¢ Monitoring Adjustment- A Dynamic Process Executive Summary Netflix, Inc. , the world’s largest and leading online DVD rental company; was founded by Reed Hastings and Marc Randolph in the year 1999 and operated from Los Gatos, California.In the very initial days Netflix started its business through online DVD rental using web media which is called as www. netflix. com through internet. The business was operated by delivering DVDs through postal mail and then charged the customers and this was called as Pay per DVD rental services. Gradually with this the company revenues increased and in a span of two years Netflix gone for an expansion and the Pay per DVD revenue model was replaced with a â€Å"fixed  monthly fee system†, the monthly fee was about $ 15. 95 per month.This was a major breakthrough for Netflix which has allowed all its customers wherein they can rent up to 4  DVDs per month without any due dates or late fees. After initializing the fixed monthly fee system, later in the year 2000, Netflix has launched one more strategy which was like customers can have up to four DVDs with in their possession one time for a fee of $19. 95 per month. Netflix's decided to split the business into two separate companies, one for the streaming and one for the â€Å"legacy† DVD business which is called as Qwikster.And then Netflix started charging the subscribers two separate bills every month which made Netflix to face the unexpected downfall. Netflix’s website for the subscribers www. netflix. com , which helped in prioritizing t he category and the choice of movies based on the customer’s preferences. By doing so, Netflix tracks the wish lists or queues of movies listed so that subscribers can browse movies of similar category and choose to watch. Then Netflix used to ship movies which are on the top of the wish list or queues of  subscribers through mail.Netflix has designed their website as per the requirements in which way it has all the ability and the facility of tracking the subscribers with individualized ratings based on all movies that customers had previously rated after viewing them. Netflix as a company enjoyed  tremendous success with all these success formulae, so it has decided to submit for an initial public offering. And later there was a huge drop in the stock market prices which dropped and due o the downfall in the stock the company position became little difficult for a company’s IPO to succeed with  uncertainty in the financial markets. In July 2000, Reed Hastings, CEO of Netflix, needed to decide whether the company should proceed with  the IPO or withdraw. During the current scenarios, Investment banks predicted that the IPO  of  Netflix would succeed only if it’s  showing positive cash flows within a twelve-month horizon. In 2005, Netflix has grown to a position where the company has 35,000 different film titles available and also shipped one million DVDs out on daily basis.Netflix developed and maintained an extensive personalized video-recommendation system based on ratings and reviews by its customers. In 2006, Netflix offered a  $ 100,000  to the first developer of a video-recommendation program that could beat its existing algorithm. And later in the year  2007, the company delivered its billionth DVD. In 2007, the company began to move away from its original core business model of mailing DVDs and introduced video-on-demand via the Internet. Netflix business has grown but while DVD sales fell from 2006 to 2011.Sep tember 18, 2011, Netflix announced its intentions to rebrand and structure its DVD home media rental service as an independent subsidiary company called  Qwikster, totally separating DVD rentals and streaming. Netflix's decided to split the business into two separate companies, one for the streaming and one for the â€Å"legacy† DVD business which is called as Qwikster. While splitting the business into two, however the businesses are going to run separately and they are going to operate on different websites. Subscribers of both the businesses got two separate billing statements (Probably it might have made sense in the long-term).It poses serious and immediate risks to Netflix's streaming business as the strategy to split the business into two did not took the turn as it was expected, and as the subscribers are the people who are all sitting at home and trying to rent DVDs, watch videos probably aren't thinking much about disruptive technologies and innovators' dilemmas. Subscribers just want to watch a movie as cheaply and as conveniently as possible. There was a loud backslash  that ensued after Netflix split its pricing plan in two is being turned several notches and as subscribers wondered how this latest business plit will affect them. The reason for the CEO to make this strategy is for the long-term betterment and also will be more profitable to have fewer subscribers paying more for month than continuously adding customers that only sign up for the cheapest plans and then withdraw soon. But the decision to raise prices so drastically $15. 98 a month to rent DVDs and for streaming is a 60% jump which caused customers rage and due to this Netflix has lost about 8,000,000 subscribers in one quarter of a year and investors had been buying on the hope that subscriber growth would continue for a long time.When Netflix gone ahead and planned to separate the organization into two as the strategy, the reaction of the subscribers is unpredictable and there was a huge reaction from the subscribers and within a span of six months the company lost most of the customers and the organization has incurred huge loss which made the company cancel the separation plan. To implement the above strategy, the management instead of bouncing back, I would suggest having a backup strategy which will be handling the management and opting for the alternative opportunities.If once we understand that the strategy of separating the business is failed then first thing is we should identify the impact of the decision ,on all parameters like lost market share, customer base, on revenues and profit gained by the competitors etc. and estimate where the organization is positioning . Then I would be going ahead and performing a gap analysis and identifying the current position of the organization and the most possible alternative strategies so that the organization will come back to its previous market.Apparently SWOT analysis also helps in identifying the areas which we need to work up on the organizations strengths and opportunities and ways to overcome the weakness and Threats which can cause hindrances. Reevaluating the proposed strategy is also one of the ways of implementing an effective strategic plan and a quick feedback of the implemented strategy will give any organization to control the impact before everything goes uncontrollable.In this case, Instead of applying the new strategy right away on the existing customers, what I suggest describes strategy to rebrand Netflix by applying the separation plans to new customers and allowing the old customers to enjoy the previous benefits and slowly make them adapt to the new product through proper promotional benefits. If any organization decided to launch a new product the best strategy would be introduce with the existing product so that the customers will be adapted to the new product and the existing customers will adapt to the new product by promoting with existing market.Hen ce the following plan describes a strategy to rebrand Netflix and successfully separate its business into Netflix and Qwikster based on the surveys and feedback collected from both existing and new customers. In-order to achieve this by holding the existing customers and attracting new customers, Netflix has to market the new product (both streaming and DVDs rental) by providing the new customers a free month trial (30 days) and also by giving the new product for the existing customers without any change in the fee. This would actually hold the existing customers and attract the new customers.Based on the response from the feedback and surveys, CEO will decide whether to continue providing the new product or move back to the previous existing product (which was already proved as a successful product). After the free trial (30 days) completes the new customers have a choice to be with either the new product â€Å"Qwikster† or just stay with Netflix. Strategic Vision According to (CEO) Reed Hastings, â€Å"Our vision is to change the way people access and view the movies they love†. Reed Hastings (CEO) strongly believed in delivering the product at an affordable price and conveniently .These are the success factors of Netflix. And also strongly believed that there are no replacements for the movies and the mission of Netflix can be considered as delivering the product in a desired way and make it attractive to the customers. Customer focus and understanding the preferences of the subscribers which helped in customer satisfaction . The goals of the Netflix also played a major role in achieving the desired revenues. Business Objectives Through these objectives Netflix will come out of the chaotic situation .These objectives can be measured through all the functions of the business mostly of financial and the objectives can be achieved and monitored at all the levels in the business. Financial objectives and Strategic objectives: The prime combined ob jective in this scenario would be to get back the lost customer base which was due to change in strategy and to gain them back is the prime objective. The second objective should be to expand the Qwikster business by launching the product and to attain a market share for them. The third objective should be increasing the new subscribers for the Netflix, Inc. o that the growth of the company would be prospering. The fourth objective should be to increase the revenues of the company by controlling the costs . The fifth objective should be to add value for business and pay the dividends to the shareholders. The above stated objectives are measured in monetary terms and other than the financial objectives Netflix should also focus on being a successful launcher for the new product Qwikster and also ensure that the quality is maintained without compromising and deliver the best customer service for its subscribers as it always did .These are the objectives which are more operational in n ature. To add on to the Operational objectives improvising on new technology, by improving the current process and optimum utilization of resources by maintaining employee relations and abiding with statutory rules and running the business on social and ethical behaviors are also considered as the operational objectives which can be key to the success for any organization. The time frame to achieve all the above listed objectives should be on quarterly basis.This could be achieved by doing a trend analysis on a monthly basis and reviewing how it can be achieved over a span of one year. Environmental Analysis The drastic growth of technology is one of the major successes for the Netflix and it is driven on technology based. Though it was started with delivering DVDs through postal services, gradually it started capturing the preferences of the customers by creating a wish list and based on their choices it has gained the customer satisfaction.Then on using the current technology Netf lix has developed streaming videos and later it was heading into developing the apps for usage on mobile devices also. When we discuss about the financial aspect due to the increase in prices there was a downfall in the shares of the company. Immediately after the decision was announced the share prices dropped drastically and there are many cancelations from the subscribers. Netflix faced a major downfall at the time of recession in 2000 and after the price hike strategy in 2011.These two years are the challenging years for the company however Netflix has overcome these with its current strategies. [pic] Industry & Competitive Analysis Netflix major competitors are Hulu and blockbuster and Netflix share is also disturbed other than the major players among you tube and also effected due to piracy. However Netflix success factor has created a brand image for streaming movies and DVD rentals. Netflix also faced competition from Redbox (movie rentals). SWOT Analysis Netflix’s st rengths: Netflix is strong in marketing their business. The main marketing strategy which attracts the customer is one month free trail and which helps the customers to get used to the product and continues with Netflix account. †¢ The other major strength for the Netflix is that they are flexible in delivering the DVDs to home every time subscribes are willing to watch a movie. The Netflix process that customers can create a recommendation based on their interest and those DVDs will be delivered very fast. Netflix is one of the pioneers in using the technology as Netflix streaming method helps the customers to watch instantly and they use the internet as the medium and Netflix is available on all electronic gadgets currently. †¢ Netflix strength is that they are patent protected recommendation service. †¢ Competitive prices are also which made the Netflix on of the niche in rental movie services. Netflix’s weakness: †¢ The fall in the Netflix demand is du e to the price strategy when the company decided to split the business which resulted in the downfall of Netflix. The other weakness is the dependency on the associates which has increased in the costs of Netflix. †¢ The disputes with major partners have resulted in limiting the streaming content. †¢ The rules of the movie content are also available with the competitors due to weak agreement. Netflix’s opportunities: †¢ Netflix is like a brand when it comes to watching movies it is the first to create. Though there are many competitors it was like a brand for watching movies online. †¢ One more opportunity is to focus on the international market as these are pioneers they can capture the world market spread. The other opportunity is as they are big players in this market segment they have the privilege of getting associated with big movie companies for a better price. †¢ Netflix can grab the opportunity using it on the mobile devices. †¢ Netflix can focus on streaming Games also. Netflix’s threats: †¢ The major threats for the Netflix are from the few competitors like hulu and blockbuster. †¢ The threat could be availability of pirated sites online and YouTube could also be a possible threat in near future as there are lots of channels spread throughout uploading movies. There is tremendous growth in technology and this company should be thinking on improving delivery methods. †¢ The threat is on increasing shipping costs which is giving an impact on the profits of the company. Conclusion: To summarize on the SWOT analysis is work on getting back the subscribers and find the ways on overcoming the weakness and threats and utilizing the opportunities and concentrate on building a strong market so that the company can run in a profit mode and can give a tough competition to the competitors. Business StrategyThe objective is achieved through the success of the company, while capturing the customer base by spreading the product with marketing their product at one month free trail offer. Due to this they have captured the new subscribers and also focused on the internet users who will be shopping DVDs or games online. The main objective for last year was to get back the customers and the CEO was successful by writing an apology mail to existing customers and apologizing over media about the decision he made about splitting the business.The CEO’s letter includes â€Å"I want to acknowledge and thank our many members that stuck with us, and to apologize again to those members, both current and former, who felt we treated them thoughtlessly. Both the Qwikster and Netflix teams will work hard to regain your trust. We know it will not be overnight. Actions speak louder than words. But words help people to understand actions†. The apology reached most of the customers and many are back to the Netflix as it is one of the most compatible sources we have today.Implementation Plan Implementation plan is the process where any organization should plan how they are going to achieve the suggested strategy. Netflix main focus should be on holding existing subscribers and also Netflix should attract new subscribers by marketing the new product appropriately. Marketing also plays a crucial role in implementing phase. Netflix should focus more on building a successful organization and the policies of the company should be formed in such a way that the strategies are supporting them.The company should also set best practices so that the various problems like customer complaints or technical issues can be addressed more effectively and immediately. Below is the Gantt chart view of the parameters and time frame. Also we can notice the time line displaying the tasks and the time frame. [pic] [pic] In my opinion if we follow these steps before implementing any product, it can yield best results. These are considered as the best practices for any implementation plan as im plementation is the key for success for any product before it’s launched. Monitoring Adjustment- A Dynamic ProcessThe monitoring plan would be to gain the control of the company so that the shareholders will invest in the company by winning the confidence of both subscribers and stakeholders where in the Netflix will not opt for any merger or opt for any business combination and the monitoring plan for the streaming company would be to target about 30 million customers across the world and be the world’s leading internet subscribing company where in providing movies for an affordable price and adapt to the technology where in the services can be streamed through various mediums like computers, televisions phones etc. Monitoring Elements | |Price Control | |Quality Assurance | |Customer Service and satisfaction | |Profitability | |Financial Elements | | |The monitoring plan for Netflix, according to my opinion should be that the company should concentrate more on main N etflix Company as it’s a parent company and then study the market trends for the streaming company by reaching the subscribers and getting them adapted to the new streaming company. However, for the second company to get adjusted with the market is a long term process. Netflix would have promoted the streaming DVDs with the original company over time and then it should have merged the process with renaming instead of doing it at the initial stage.Below attached is the survey and the result is that subscribers dilemma regarding the product itself and why Qwikster did not reach customers as they are unaware what it does really. [pic] It would have be great success if the name would have rhymed with Netflix so that the subscribers would have thought these two companies are related and as Netflix is most popular for movies and among customers.Here the monitoring of the entire implementation plan are done by taking surveys and one on one feedback from supervisors, managers and ver tical management heads and based on those reviews and suggestions change can be done and also time frame is limited or expanded. Overall with all these steps implemented and thereby Netflix when follows the suggested strategy then can overcome the current situation and also hold the existing customers while acquiring new customers. This will make Netflix, Inc. successfully launch its new product and remain world’s largest and leading online DVD rental company.References Websites: †¢ Netflix, Inc. www. netflix. com †¢ http://ir. netflix. com/downloads †¢ http://en. wikipedia. org/wiki/Netflix †¢ http://www. bizjournals. com/sanjose/news/2011/09/19/complete-text-of-netflix-ceos-apology. html? page=all †¢ www. google. com †¢ http://www. cbsnews. com/8301-505124_162-43452943/turns-out-netflix-blew-the-qwikster-name-pick—-out-of-fear/ †¢ www. yahoo. com Thompson, A. A. , Peteraf, M. A. , Gamble, J. E. & Strickland III, A. J. Crafting and E xecuting Strategy: Concepts and Readings (18th ed. ). New York: McGraw-Hill/Irwin.

Profitability & Morality

Can profitability and morality coexist? Explain the statement In detail The largest companies in the nation have evolved over the years to find more ways to streamline operations, reduce waste, Increase the productivity of their employees, preached corporate ethics to their employees, try to be involved with local communities by giving to the local youth clubs or donations to a regional cancer research center. But Is this to be a good citizen of the community, or Is It a show? There's a view that soaring profits and ethics are mutually exclusive concepts, forever, the two can co-exalts.The world of business Is generally perceived as Jungle where the bottom line takes precedence over all other matters. While it is certainly true that profits are the true measure of success, commercial ruthlessness doesn't necessarily lead to unethical practices, There sometimes arises an Inevitable conflict in the company between their moral obligations and improving the bottom lines. But ultimately c ompanies following the path of ethical value system succeed in long run as sooner or later consumers learn to separate fact from fiction.Hence In situations such as these referring to morality to help decide what needs to be done should take precedence. Nowadays Money and Ethics are seen to be diametrically opposed to each other but it turns out money and ethics do have much in common. Any corporation large or small ultimately lives by Its reputation. Ethics must sit at the top of the mountain for any successful company that wants the trust of the consumers and investors. There are very few second acts once the public perceives the organization flawed by soonest or Inferior quality.As Is very rightly said by Henry Ford – A business that makes nothing but money is a poor kind of business. Ethical decision-making gets especially interesting when organizations must reconcile their core values and show a healthy bottom line which end up in conflict with one another. The company a nd its management might get diversified to malpractices. Enron. World, Astray, Xerox and other scandals shook public confidence in ethical value system of organizations. But it must understood very Leary Relativity applies to physics, not ethics (Albert Einstein) Profits and ethics are in reality part of the same equation.A corporation that wishes to grow and Increase its financial return to its owners must balance ethics and operations. This Is a complex journey especially during tremendous economic pressures. The drive for success in the marketplace and to maximize return of capital can lead a company astray with disastrous results. Successful businesses fail, profitably running businesses suffer from a downfall and some seemingly effective report receive a great fall in their profits and popularity all due to the lack of business ethics.There are companies that have crossed ethical lines in the pursuit of toy 2 pronto, Ana momentarily gal. EAI Tame Ana Torture out want was teen A na result† Many companies strive for and achieve ethical behavior. Looking at names like Data group, Ford India, Rockwell Automation, Informs Technologies, Hindustan Milliner, TIC, ONCE it is inferred that Ethics remain being important in business and strong ethical values takes the business a long way. Ethics are important not only in business but in all aspects of life because it is an essential part of the foundation on which civilized society is build.A business that lacks ethical principles is bound to fail sooner or later. Informs Technologies is among seven international companies chosen to be in the first annual list of â€Å"top brands with a conscience† Informs is the only Indian company to be part of this select group. Brought out by the Mending Group, an international collective of brand experts who meet annually, the sit is based on principles of humanity and ethics rather than financial worth.Companies are evaluated on various parameters ranging from the e vidence of ethical programmer and human implications of the brand to the ability of the brand to take risks in line with its beliefs. Informs Technologies recently won two other awards recognizing its financial performance as well as overall management. The Far Eastern Economic Review rated Informs the best company in India for the sixth consecutive year and Asia Money selected Informs as the best managed company in India.

DonT Let Crooks Steal Your Identity Case Study - 857 Words

Complete Name: Unit 4 Student Name: Jenkins, Shanika ********************************************************************************************************** 1. Case Study: â€Å"Don’t Let Crooks Steal Your Identity: How to Protect Yourself-and Your Credit Rating† (p. 225) ********************************************************************************************************** 2. Provide several methods that crooks use to steal your identity. Student Answer: There are several methods to a crook use to steal your identity. Some crooks are using credit cards and drivers licenses with identities lifted from a stolen or forged passports a crook can be one that is pilfering your credit card number and charging merchandise to your†¦show more content†¦You will notice when checks start bouncing or a collection agency begin calling you. The good thing is the damage isn t so much in dollars,since the financial institution are liable for the unauthorized charges. You wil also notice when you can t get approved for a mortgage or a job, and the countless phone calls and paperwork you ll need to go through to set the records straight. You will also notice when you are applying for credit somewhere and they will not approve you when you know that you have great credit score. There are also unauthorized credit or debit card purchases, getting unexpected credit approvals, unprompted collections letters that you have no idea abou t. Also someone can hack into your email to see if you have any information in it.Also if you have an account that has been flagged warning it means that it is something odd on your account and they will flag it as a warning to let you know. A crook can also even get into your mailbox and get your mail, when you are expecting something and you know that it should have been here by now. You may even have someone to use your medical information, because they don t have any to take care of there own problems. Your identity can even be stolen when someone has committed a crime and use your name and get a surprising arrest warrant for no reason. There are so many ways for crooks ro come up with things. Correct Answer: n/a

Cross-Culture Issues in Business Communication - Free Essay Example

Sample details Pages: 6 Words: 1921 Downloads: 3 Date added: 2017/09/11 Category Advertising Essay Did you like this example? Cross-culture Issues in Business Communication Introduction When travelling in other countries, we often perceive differences in the way people live and work. In the United States dinner is commonly eaten around 6. 00pm; in Spain, it’s not served until 8. 00 or 9. 00pm. In the United States most people shop in large supermarket once or twice a week; Italians tend to shop in smaller grocery stores nearly every day. Everybody has their own culture so businesspeople must keep in mind of their client’s culture. This paper exploring the aesthetics, values and attitudes, manners and customs and language of cultural will affect business practices and national competitiveness. Background Cultural can be grouped into two kinds, such as nation-culture and subcultures. Nation-states support the concept of a national culture by building museums and monuments to preserve the legacies of important events and people. Nation-state also intervenes in business to help preserve their nation cultures. Most nations, for example, regulate culturally sensitive sectors of the economy, such as filmmaking and broadcasting. Don’t waste time! Our writers will create an original "Cross-Culture Issues in Business Communication" essay for you Create order France continues to voice fears that its language is being tainted with English and its media with U. S. programming. To stem the English invasion, French laws limit the use of English in product packaging and storefront signs. At peak listening times, at least 40 percent of all radio station programming must be reserved for French artists. Similar laws apply to television broadcasting. The French government even fined the local branch of a U. S. university for failing to provide French translation in its English-language site on the World Wide Web. A group of people who share a unique way of life within a larger, dominant culture is called a subculture. Companies must be mindful of subcultures when formulating business strategies. For instance, the customary portrait of Chinese culture often ignores the fact that the total population of China is comprised of more than 50 distinct ethnic groups. Decisions regarding product design, packaging and advertising must consider each group’s distinct culture. Aesthetics Issues Aesthetics is what a culture considers to be in â€Å"good taste† in the arts, the imagery evoked by certain expressions, and the symbolism of certain colours. Aesthetics played an important role in business communication when a firm considers doing business in another culture. Firms must control on selection of appropriate colours for product packaging, advertisement, workers uniform and even the website design to make way of success in their business. For example, red is the favorite colour for Chinese. They believe that red will bring luck to them while for Malays, they love green. Across much of Asia, on the other hand, green associated with sickness. Most of the countries taking black colour as the colour of death and mourning while Japan and most of Asia, it is white. Shoe manufacturer Nike experienced firsthand the importance of imagery and symbolism in international marketing. The company emblazoned a new line of shoes with the word â€Å"Air† written to resemble flames or heat rising off blacktop. There were other names given to the shoes such as Air Bakin’, Air Melt, Air Grill and Air B-Que. But what Nike did not realize that the squiggly lines of the â€Å"Air† logo resembled Arabic script for â€Å"Allah†, the Arabic name for God. Under threat of worldwide boycott by Muslims, who considered it a sacrilege, Nike recalled the shoes and agreed to build several playgrounds in Muslim communities as part of its apology. The importance of aesthetics is just a great when going international using the Internet. When going global an internet presence, the more a company localizes the better. For example, a black-and-white Web site is fine for many countries, but in Asia visitors may think you are inviting them to a funeral. So, the web designer must beware and take concern on choosing colour scheme. Finally, music is also deeply embedded in culture and should be considered when developing promotions. When used correctly, music can be clever and creative addition to a promotion; if used incorrectly, it can be offensive to the local population. The architecture of buildings and other structures should also be researched to avoid making cultural blunders attributable to the symbolism of certain shapes and forms. Values and attitudes Issues Values are important to both individuals and groups. Values are ideas, beliefs and customs to which people are emotionally attached. Values include things like honesty, marital faithfulness, freedom and responsibility. While, attitudes mean to positive or negative evaluations, feelings and tendencies that individuals harbor toward objects or concepts. Attitudes reflect underlying values. Cultural knowledge can help managers decide whether promotions must be adapted to local attitudes in order to maximize the effectiveness of promotional efforts. For instance, it is often believed that people around the world respond similarly toward technological products, so advertising agency Euro RSGG Worldwide surveyed consumers about their attitudes toward technology and their use of technological products in purchasing situations. Among other things, the survey revealed that consumers in the United Kingdom were far more likely to purchase online than Italian and German consumers. It also found that Web sites were useful in Finland as a source of information on technological products but were considered not at all useful by Italians. There are three important aspects of life that directly affect business activities which is attitudes toward time, work and achievement, and cultural change. Examples for attitudes toward time, people in Latin American and Mediterranean cultures are casual about their use of time if compare to the people in Japan and the United States. The Latin, they maintain flexible schedules and would rather enjoy their time than sacrifice it to unbending efficiency. In contrast, people in Japan and the United States typically arrive promptly for meetings, keep tight schedules, and work long hours. An American who has worked in the Middle East for 20 years explains the Middle Eastern concept of the time this way:†A lot of the misunderstandings between Middle Easterners and the foreigners are due to their different concepts of time and space. At worst, there is no concept at all of time in the Middle East. At best, there is a sort of open-ended concept. † (Irwin McGraw-Hill, 1999, p. 263). For attitudes toward work, people in southern France like to say, â€Å"We work to live, while people in the United States live to work. † Work, they say, is for them a means to an end. In the United States, they change; it is an end in itself. Not surprising, the lifestyle in southern France is slower-paced. People tend to concentrate on earning enough money to enjoy a relaxed, quality lifestyle. Businesses practically close down during August, when many workers take month-long paid holidays, usually outside the country. In contrast, this attitude is unheard of in many Asian countries, including Japan. Manners and Customs Issues Understanding others manners and customs helps managers to avoid embracing mistakes and improve the ability to negotiate in other cultures, market products effectively and manage international operations. Appropriate ways of behaving, speaking, and dressing in a culture are called manners. In Arab cultures from the Middle East to northwest Africa, one does not extend a hand to greet an older person unless the elder first offers the greeting. In going first, a younger person would be displaying bad manners. Moreover, because Arab culture considers the left hand the one used for personal hygiene, using it to pour tea or serve a meal is considered very bad manners. Good manners are just as important internationally as when doing business in the home market. Conducting business during meals is common practice in the United States. In Mexico, however, it is poor manners to bring up business discussions in Mexico typically begin when coffee and brandy arrive. Likewise, toasts in the United States tend to be casual and sprinkled with lighthearted humor. In Mexico, where a toast should be philosophical and full of passion, a lighthearted toast would be offensive. When habits or ways behaving in specific circumstances are passed down through generations, they become customs. Customs differ from manners in that they define appropriate habits or behaviors in specific situations. Sharing food gifts during Islamic holy month of Ramadan is a custom. Although giving token gifts to business and government associates is customary in many countries, the proper type of gift varies. A knife, for example, should not be offered to associates in Russia, France, or Germany, where it signals the severing of a relationship. In Japan, gift must be wrapped in such a delicate way it is wise to ask someone trained in the practice to do the honors. It is also Japanese custom not to open a gift in front of the gift giver. So, businesspeople must always keep in mind to their clients’ customs to avoid making embarrassing mistakes or offending people. Personal Communication and Body Language Issues People in every culture have a communication system or a body language to convey thoughts, feeling, and information. Understanding a culture’s spoken language gives us great insight into why people think and act the way that they do. Understanding a culture’s body language helps us avoid sending unintended or embarrassing messages. A lingua franca is a third or â€Å"link† language that is understood by two parties who speak different native languages. The importance of understanding the local language in business is becoming increasingly apparent on the internet. English is the language of roughly two-thirds of all Web pages on the Internet. That is why software solutions providers are assisting companies from English-speaking countries in adapting their Web sites for global e-business. Advertising slogans and company documents must be translated carefully so that messages are received precisely as intended. There are many stories of companies making terrible language blunders in their international business dealings. General Motors’ Chevrolet division made perhaps the most well-known blunder when it first launched its Chevrolet Nova in Spanish-speaking markets. The company failed to notice beforehand that â€Å"No va† means â€Å"No go† in Spanish. Body language communicates through unspoken cues, including hand gestures, facial expressions, eye contact, physical greetings and the manipulation of personal space. For example, navigating all-important handshake in international business can be tricky. In the United States it is a firm grip and can include several pumps of the arm. But in the Middle East and Latin America a softer clasp of the hand with little or no arm pump is the custom and some country, like Japan, people do not shake hands at all, but bow to each other. Bows of respect carry different meanings, usually depending on the recipient. Associates of equal standing bow about 15 degrees toward one another. But proper respect for an elder requires a bow of about 30 degrees. Lastly, bow for apology is about 45 degrees. Conclusion Essentially, we are experiencing differences in culture which the set of values, beliefs, rules, and institutions held by a specific group of people. Culture is a highly complex portrait of a people. It includes everything from high-tea in England, to the tropical climate of Barbados, to Mardi Gras in Brazil, to segregation of the sexes in Saudi Arabian schools. Every country got theirs aesthetics, values and attitudes, manners and customs and personal communication and body language. Businesspeople must be always sensitive to the local culture, so that, they will be success in their business in international. References Ball, D. McCulloch, W. (1999). International Business: The Challenge of Global Competition 7th edition. The McGraw-Hill Companies. Griffin, R. Pustay, M. (1996). International Business: A managerial Perspective. Addison-Wesley Publishing Company. Phatak, A. (1997). International Management: Concepts and Cases. South-Western College Publishing.