United Biscuits Case Study: Question 3: Discuss how adapting its organisational structure was likely to improve the competitiveness of United Biscuits. (15 Marks ) Organisational structure is the relationship between different people and functions within a business. United biscuits organisational structure has recently changed from a geographical structure to a product based structure, this is likely to improve the competitiveness of the company. The change in organisational structure has resulted in managers’ becoming responsible for a specific product rather than regions; this will allow them to direct their attention to a particular product rather than try to manage an entire product portfolio. The manufacturing process is likely to become more efficient, increasing levels of output as well as increasing the relative quality of the product.
Weaknesses: are obstacles that do not allow us to reach our targets and realise them to great heights. Opportunities: When a company gains the lead by using its positive situations to progress in its atmosphere. Threats: When the state of affairs in a business is endangered by peripheral influences hampering consistency, cost-effectiveness. It can also be defined as “a classic means to an end.” An illustration: [pic] [pic] [pic] [pic] [pic] Strengths & Opportunities are internal factors while Weaknesses & Threats are external factors. Part B.
The Sarbanes-Oxley Act has increased the s increased the reliability and dependability of financial statements. As a result of this, companies’ internal controls improved greatly. Under the Sarbanes-Oxley Act, the revised auditing requirements for internal controls mandates that an organizations internal controls procedures must be tested by auditors and that the test findings should be reported in the organization’s annual audit report. An assessment of whether the internal controls supply both a system of maintaining records that concretely and fairly project the company’s transactions, and acceptable assertion that transactions are recorded in conformity with the arrangement of GAAP financial statements are to be included in this
The primary users are the 3 current owners including yourself who take an active role in managing the company. You would like the financial statements to be presented in such a manner as to indicate strong financial success and growth. You have plans to expand and possibly go public and having strong financial statements will enable you to attract the right investors and resources needed to make this happen. The more money the company makes the more you will benefit financially as the owners. It is important to remember that financial statements must be presented fairly and in accordance with accounting principles as it is evident here that there is a bias towards presenting statements in a financially strong way.
b) Explain why you should respond positively to changes in products or services. It is important to respond positively to changes in products or services because it is likely it will increase your business turnover. A company will want to review its services and products so that it keeps up to date with the expectations of its customers. This will ensure the company can stay competitive and meet its targets and objectives. c) Identify ways of responding positively to
Globalization is the key to survival that allow to a company to be competitive and offer diverse services and convenience to consumers. Benchmarking analysis that compares competitive companies with their process and performance metrics to industry requires a comprehensive research. In a successful business, effective tactical development inevitability to manage finance is essential. Financial management is a comprehensive tool that monitors and willpower to improve a company’s success. When I was conducting the research for financial statements, there were many interesting.
Strategic Plan: Part II Anonymous BUS/475 February 23, 2000 n.a. Strategic Plan: Phase II Several trends and forces, both external and internal factors can lead businesses on different pathways. Trends and forces are necessities that must be analyzed by organization and fostered as a tool to increase revenue. Organizations that respond and react to changes and modify their strategic plan when necessary will remain superior in the industry and competition. In order for a business to thrive in today’s shifting business environment, the administration of that particular organization must have the capability to respond to changes in the trends and forces in the business setting.
The documentation issue consists of notating the system with accurate information in a timely manner. System functionality includes the mainframe system Clarifire that was purchased to hopefully make the process flow smoother. Though this was a positive gesture, the system functionality possesses bugs that hinder the workflow throughout the
While the invisible hand cannot guarantee efficiency, it is better at guaranteeing equity. ANSWER: F TYPE: T KEY1: D SECTION: 2 OBJECTIVE: 7 RANDOM: Y [cxx]. The two broad reasons for a government to intervene in the economy are to promote efficiency and to promote equity. ANSWER: T TYPE: T KEY1: D SECTION: 2 OBJECTIVE: 7 RANDOM: Y [cxxi]. Market failure refers to a situation in which the market does not allocate resources efficiently.
Nathan Osborne Phil 186 It’s Good Business: Robert Solomon The author Robert Solomon argues that ethics play a big part in the business world. He does not believe that in order for business management to succeed that they must include unethical or illegal methods to be able to succeed. Solomon believes that business management is not as simple as making revenue. He acknowledges that while illegal and unethical practices in business management could bring positive results in the short run, eventually the business is going to fail in the long run. This is why Solomon recommended eight important rules that can help businesses in including ethics into their business operations.