Unit 1 Project Separation of Consulting and Auditing Firms Independence is a critical component of being able to successfully audit a company. An auditor loses independence when focus lies on the company and not working separate from the company. This was the case of Arthur Anderson and the organizations involvement with Enron as an auditory and a consultant. The Enron case shook up the financial market and caused many investors to question the accuracy of financial statements. The fear brought many negative affects to the finances of companies and to the areas of auditing and consulting.
Case Analysis: Utiliscan Webster University HRMG 5000 March 6, 2013 Case Analysis: Utiliscan Introduction By looking at the survey conducted by Paul and his team at Utiliscan, we can see several areas that need to be reviewed for improvement by the management there. Talented employees are difficult to attract and some would say even more difficult to retain. Unless solutions are found to the problem areas facing the company, we can surmise those difficulties could become more challenging to resolve. Since profits have been reinvested at the company, the financial position is dire, and now the management must decide how much of the actual profit can be put invested back into making the working conditions better without forcing other key areas of the business to do without, or deal with shortages. These concerns would be especially hard hitting on the R&D division of the organization.
This practice also violated the loyalty Code of Ethics and Standards of Professional Conduct. 3、 Sherman accepted compensation from the competitive company, this practice violated the additional compensation arrangement Code of Ethics and Standards of Professional Conduct. Some ways could use to prevent the violations: 1、 Require employees signed some confidential agreement and competition restriction agreement. 2、 To build customer management system, it can be prevent the customer’s information was leaked and occupied. 3、 To increase employees who violated company contract and punished to legal.
He made several controversial decisions with respect to compensating AIG’s executives. The case is related to multiple motivational concepts. Internal needs reflect the reasons for which the employees chose to remain employed with AIG during the process of winding down the Financial Products business. External incentives reflect the retention bonus payments. In addition, needs theories of motivation can be invoked to provide perspective on what seem to be important motivational factors for the Financial Products employees.
Which is the MOST commonly used measure of corporate performance (in terms of profit)? • ROE • ROI • EPS • DPS 4. When a company determines a competency's competitive advantage, Barney refers to this issue as • value • rareness • imitability • organization Final Exam Answers just a click away MGT 498 Final Exam 5. If performance data and activity reports indicate undesirable performance as a result of inappropriate use of the strategic management process, operational managers must • change the strategic management model. • know about it so that they can correct the employee activity.
Name as many as possible. Any businesses that are distributing any unlawful actions like fraud. Financial statements shows what the company make for the year as well as what the company is bringing in. The owners are affected by this because if something is wrong it could fall back on them. The employees are affected because if something was to go wrong they may lose their job because of the company faults or not get paid like they should.
An outsource recruiter does not know well the company’s culture and value as well as an internal recruiter. External or Internal Hiring Tanglewood should go for internal hiring. This will allow employees to use the internal market and a springboard for launching long-term careers within the company. External may be necessary to fill out the entry-level positions or any other position where there are no acceptable internal applicants. Core or flexible workforce Tanglewood should focus on Core Workforce when selecting employees.
28 (chapter 1) 2. In what kinds of ways did these managers respond to these challenges- for example, in their approaches to planning, leading, organizing, and controlling? The managers used the controlling approach because they had to evaluate the problem so that they can maintain to keep their company going so that they survive even if they had to make some employees unhappy and make tough decisions in the process, but like CEO Donohoe says “ it’s not a popularity contest we have to do what is best for our company” – pg. 35 Reference sited: Gareth R. Jones “Contemporary Management” – managers and managing: controlling, pg. 12 (Chapter1) 3.
The stress of the audit partner is tremendous and choosing that profession is one that I would prefer not to undertake. The anxiety and pressure to certify that a company’s financial records are in good standing can be daunting. 3.) Independent auditors are sometimes perceived as the “necessary evil” by corporate executives because of the possibility of exposing corruption. To change this point of view an auditor can try to explain their intent to educate and improve the company’s policies, which can in turn lower costs.
However the expected outcome from the project makes it feasible. The manager instituted the cost cutting campaign and emphasize that the first aim of every employee should remain the cost reduction plan in the company. Major emphasis of the case is on the management strategy and organizational behavior that Dick Spencer adopted to run the company as a manager of the plant and also emphasizes on his techniques for human resource management. In tough time or for cost production the manager has to hold the situation of the company and employees technically not forcefully (more business.com). In this case the author wants to point out some mistakes that dick Spencer attempted in his career of management as a part of the tri American company’s Modrow branch.