There are not enough regulations and monitoring system for the daily accounting activities. For instance, management and auditors spend very little time reviewing the insignificance of petty cash account. So the five elements of internal control is not work well in this company. The control environment was not effective; there was no effective risk management, which helped the company to realize its objectives; control activities and monitoring are lack. Moreover, the CEO is ultimately responsible for the internal control who assumes primary responsibility for the system of internal control.
it was missing major information, such as a list of critical services, Employee contact information and vendor contact information. The Business Impact analysis for this type of scenario or any disaster was never completed so there was little information to help the disaster preparedness team as far as how this disaster will impact the organizations operations. The Backup Policy was written thoroughly and included information on the backup schedule and storage locations. It also listed the backup methods used and the length of time full backups were kept for. The document also included instructions to restore data
Project 2 – Recreation, Inc. 1. What are the inherent risks associated with Recreation’s IT environment? The lack of formal policies and procedures directly addressing IT functions is an inherent risk associated with Recreation’s IT environment. While the requests for development of new applications and changes to existing applications are supposed to be submitted to Dan before being put into place there is no actual required authorization needed for Patty to begin making the modifications or creating the application she could easily perform these actions without Dan’s approval. Also because Dan does not review the modifications and new applications until the following month there is the possibility of changes that are not appropriate or not approved being made and they wouldn’t be caught by Dan until the following month.
Regular conflicts and disagreements have been seen in the meetings and there is no integrator to resolve these conflicts. Intergroup conflicts have been common due to goals incompatibility and task interdependence. For instance, Ralph Parker from Signal Processor Design team thinks there is no need for any digital signal processors or any strategic alliance with other companies for purchase of components whereas Dan Stella and Monica from Manufacture and Design team thinks otherwise. Power and influence is used each time to reach decisions. Hence it is a political organization.
Elizabeth has the team meet and they discuss an overall agenda, but never discuss a concrete plan on how to achieve their goals. By the end of the meeting the only real goal is that Warren will make a preliminary marketing plan, but there is no mention of other employees doing anything else. When Ethel expresses concerns, Andrew is not concerned with how to achieve the goals; just that he is more concerned with making something fun. Issue 5: No Market Study. Warren states to Nick “we don’t want to overestimate our customers on this”.
Natural Meals have had some "regional" promotion activity during the past two years but never ran a national promotion. 4- GCP’s organizational structure is rigid and not flexible which makes it difficult to get quick answers. It slows down the decision making process. It is also difficult to work across divisions to achieve the organization’s goals. 5- Natural Meals item are "line priced".
Lack of a shared vision and lack of responsibility: Although as stated earlier, the vision statement had not significantly changed, the implementation of new ideas was never shared completely. Managers had a vague idea of what was happening corporate wide, but could not disseminate this information in a functional manner. Essentially there was little dialogue between upper management, mid level and staff. Management itself was divided into teams. They separately would try to communicate with staff, usually during lunch breaks.
They are going to think that this person has no feelings and truly doesn’t care about their questions or anything. Conferences are other important channels that allow many different parties to communicate from anywhere in the U.S or overseas. Conferences are used when someone is unable to come to a set location or have another meeting taking place around town or even out of state. Communication is a major key in any business and without this a lot of companies would fail. Sending a formal letter show’s that you took the time to prepare and everything was well sought out.
When it comes to them, the majority of people would rather work alone. First of all, their punctuality is very unreliable and they’re usually never on time for work. One day coming to work on time, but then they’ll be late for two or three days straight. Coupled with being late most of the time, they definitely dislike teamwork or working with others, because of their lack of interest. It’s difficult enough to get them to do tasks alone, and teaming them up with a group of people usually has a negative outcome.
Williams refused Langly’s suggestions of a personal approach with regional executives and postponement of procedural implementation until after the peak holiday season. She felt trips to meet with regional executives to discuss purchasing and pricing changes would be too expensive and time consuming. In addition, she believed the procedural change was needed now. Messages were sent out the next day. Only a handful of regional managers responded and was happy to cooperate.