Valuable Since Westlake Lanes has been in business for over 30 years this has contributed directly to the loyalty that its customers hold for it. This loyalty obtains a constant flow of revenues and at the same time keeping consumers away from Westlake Lanes’ direct and indirect competition. This well-known long run operation is appreciated because it gives a sense to possible customers that anything in operation for this long has to be an effective honest organization. Rare This was not mentioned in the case but one has to wonder, this business has survived many obstacles and survived this long, many businesses did not make it thought the economic hard times. Inimitable/Substitutable This ability is either inimitable or substitutable because there can be no company which can open at this time and claim to be opened for the last three decades.
Company mainly focused on maximizing the shareholder value by the CEO and other management’s managerial philosophy. Currently, Hill Country uses a risk adverse strategy to choose their business or project. Hill Country’s industry is high competitive but it kept going well with cost efficiency and quick reaction to customer requirements. From these reasons, Hill Country has few risks. However, analyst and experts present that Hill Country’s excess liquidity with zero debt is going to lose benefit and fail to maximize the shareholder value.
Even though the leaders contended that conflicts between its auditing and consulting missions had no impact on the quality of its work but actually they do. The two roles rarely mix well--a fact Arthur Andersen himself warned about as far back as the Great Depression. The culture changed where the auditor was no longer the guy people respected in the '80s and '90s. Even as many of its partners and staff continued to uphold a high standard, others compromised in the interest of generating fees. Andersen's remaining leadership disputed that the firm emphasized the selling of services over audit quality, replacing partners who were strong auditors but didn't generate enough revenue.
The UPS’s Christmas Eve Snafu is an example of what could result from poor logistics management. The 107 year old courier company failed to handle the situation with its vast resources. Several factors contributed to this failure of UPS: The last minute holiday sale by the retailers is what the analysts believe that lead to the unexpected glut of packages. Most of the retailers preferred air networks of the company to ground delivery to get gifts to customers on time. The discount sales and one-day delivery promises made by the retailers are just the beginning, from the courier company’s side, it failed to forecast the raise in its shipping volumes for the holiday.
A good boss door is always open, whereas a bad boss is not pleasing to be around, always keeping their door closed. A good boss door is always open for communication in the job world, versus a bad boss keeping his door closed at all times. There are many characteristics of being a good boss, some of them who are a good boss are a good listener someone that can truly assess their employees’ needs and meet them. A good boss when confronted with a problem will not point fingers at one of their employees. They will absorb the blame on themselves, and the whole department.
They picked up too many products without understanding the full limitations of MuCell and lost a lot of customers. Fortunately, they didn't lose much money in learning this lesson. As a result, Bernstein was pressed to get the product to the market, fast. He believed that if giving the partners more ownership, then they'd be more inclined to follow through. This was known as the Fast Track Development plan.
It analyses the entity’s competitive situation by assessing its strengths, weaknesses, environmental opportunities and threats. Strengths HIH had the support of the public and its personnel and this could be an asset to management because they would have space for maximising potential of the company. HIH also creatively use re-insurance to free up funds otherwise stuck prudential margins and allow more funds for expanding investments. Weaknesses HIH’s main weakness is its lack of corporate governance, especially the lack of process and risk management within the company. A lack of process meant that there were no limits to authority and rules were not followed.
What I like most about him, is he never tried to keep anything from the audience. He admittedly said that at times, he’s struggling with himself because he still thinks that he was very smart to be able to have done those adjustments in Enron’s financial standing but also feels bad about the effect these mistakes did to the employees’ pension funds and whose lives he destroyed. I would have to agree with Mr. Fastow when he said that the accounting principles is vague and is open to any understanding and interpretation. This also goes to our laws governing the Philippines. Lawyers would interpret the rules and regulations differently and would defend it accordingly.
This issue makes me think of my father, who often tells me that in one of his most important business decisions, he relied on his ‘gut feeling’ instead of his rational self and still made one of his best decisions ever. Another human virtue in Rand’s list is productiveness, which I cannot argue with. Where would the world be without productive people? I am a strong believer in work and productivity- I think that human beings would perish without being productive and the only way for someone to
The principles of written business communication: CLEAR PURPOSE The well-known saying, “Time is money,” is well-known because it’s true. Nobody – especially a business person – wants his time wasted, so be sure your purpose is clear and that what you write is worth taking the time to read. CLARITY AND CONCISENESS There is a time and a place for creative figures of speech and poetic turns of phrase, but rarely is a business letter that time or place. The priority in business writing is the effective communication of specific information. Avoid wasting words and be precise with the ones you choose.